There's a lot of competition these days. Find out how small business enterprises can outrun big companies in terms of reaching the target market.
Peppercomm co-founder Steve Cody talked about his firm and how it started. He also shared tips on how they focus their resources on advertising and what small businesses can learn from their practices.
"We allocate approximately 2 percent of the annual profits of my firm, Peppercomm, to self-promotion," Cody wrote on Inc. "We've done so from day one because I believe Peppercomm is Peppercomm's most important client."
"We spend our rather meager budget on trade media advertising, paid social content, and leveraging Outbrain, a native advertising specialist, to push our content to relevant sites where prospects congregate. I'm pleased to say it's worked."
Cody added that forty percent of their prospects actually found them through an industry ad campaign. Outbrain was also able to bring 508 new visitors to their website.
However, he did admit that it's still unimpressive. The Peppercomm co-founder believes that he and his team can do better.
Joey Molko, Cody's instructor as well as a Viacom veteran and Mirriad's current CCO, shared five branding and marketing tips to help the "Davids" of the industry take down the "Goliaths." First, entrepreneurs need to recognize and specify their target market.
Second, businesses need to follow their audience. There will be a different mix of digital, social as well as traditional channels where your potential consumers hang out. Marketing Land reported that social media needs to be done correctly.
Third is to consider native advertising. According to the publication, it's "paid media that matches the user experience in which it is placed." These can help the business find their key audiences and have them interact with one's brand.
Fourth tip is to be sincere. There are specialists firms that conduct sniff tests so that companies can gauge what the customers truly think of their brand.
Lastly, getting good results does not necessarily entail a big budget on advertising. Small businesses just need to find cost-effective platforms that work for them and seamlessly send out one's messages for a wider reach.