Tips for Small Businesses to Reach Out to the Target Market

For Small and Medium businesses its a particularly pressing challenge to create a powerful Go To Market strategy and execute the same in full strength. SMEs cannot afford big budget advertising and customer connect initiatives. They cannot afford to reach out to the masses or the niche (as the business requires) with print ads in magazines, newspapers etc. SMEs also many a times don't have dedicated agencies to work with OR teams to take care of their marketing/ customer outreach initiatives.

With all these challenges, how should they reach out to the relevant customer segment?
For almost all the small and medium businesses, there are certain common factors which come into play at various growth stages of the companies. To establish an effective marketing strategy the following pointers should be looked upon:

• A confident word of mouth always helps! For any small company specifically a strong word of mouth from a trusted/ respected entity is a great asset. This will fetch you business far faster and easier. But obviously to ensure this, you have to create a WOW experience for your customers. Don't over commit. Deliver what you promise as a business, whether it is small/ large. But deliver.
• An apple might work for me, it might not work for you. Never believe that if an X business is using facebook, it will work for you as well, just because it is a cheap medium of marketing. NO. It just might be the other way round. facebook might just not be the tool for your business. You have to understand your business, your customers and hence set your business objectives right. Not every marketing effort has to culminate into a customer.
• Attend relevant industry events. Networking helps. Wherever in the world you might be, networking is one of the strongest possible tools, which can help you in almost every stage of your business. From setting up to the growth stage. Attend all industry relevant events, ensure that you are not giving a sales pitch everytime, Just connect with relevant people and maintain relationships.
• Bundling works! Especially if you are a product, you can always bundle your offering with that of a larger company, hence leveraging the power of their sales. There are many applications which come bundled now when you buy your mobile phones. Similarly you can think of innovative partnerships which help you reach out.
• Build and participate in knowledge communities. There is nothing more powerful than an engaged community. Participate in knowledge forums and communities online. It helps you establish credibility in an engaged group, which positions you strongly amongst peers.

Team IndiaMART Knowledge Services is committed to create new opportunities or SMEs to grow. To know more about how you can leverage the internet and new media technologies, drop in a comment to this post and our team of experts will be happy to help!