For small businesses, appealing to more customers isn't only about offering the best deals and the catchiest sales pitches. Instead, connecting on a more personal level may be the enhancement that takes a marketing strategy over the top.
The best financial plan should be able to account for a brand message that is tailored for a specific company, and appeals to the perfect demographic. In some cases, though, a brand may not hit the mark, and there might be several reasons as to why.
Why a brand may not be working
One of the biggest reasons why a brand message isn't having success may be because of a disconnect between management and the consumer, according to Leyl Master Black, senior managing director for Sparkpr and contributor to the American Express OPENforum.
For example, what the small business management team believes is the perfect marketing strategy might not be what is a priority for the customer. That could lead to confusion within a company, and sales figures that aren't on track.
One of many financial tips to rectify this problem is with the distribution of a survey. Learning what the customers desire is crucial, so a small business can better target marketing, Black noted. Online surveys are cost-effective and could have a big reward.
In addition, another common problem that plagues many small firms is the inclination to cram everything into one mission statement. While teamwork is great, some companies fall victim to familiarity. Instead of trying to use tired industry lingo in order to seem all-encompassing, a venture should create a statement that is fresh and specific, explained Black.
In this sense, being concise is better than trying to reach every possible consumer preference. The best business owners know what their companies do well, and strongly market that aspect.
Methods to keep customers excited
A quality brand for a small business could end up being bolstered by customer reviews and word of mouth, according to Entrepreneur magazine.
A few simple tips could easily be accounted for in a financial plan, and these low-key methods are ideal for improving brand loyalty and making consumers happy.
To begin with, customer feedback is not only useful for the small business itself, but it is also a great way to improve customer relations. Asking for feedback, even simply by adding a link to an online survey on the bottom of a receipt, will help a company show appreciation, the news source noted.
Another affordable technique is social media, and Foursquare allows users to "check-in" whenever they enter a store. This way, all of their friends see where they are – providing instant, free advertising for a small business.