3 Marketing Challenges Small Business Can’t Run from
One major limitation Small and medium-sized enterprises-SMEs face irrespective of their location or time zone across the world is Marketing, therefore see it as a hard nut to crack and most times they resolve to the conventional method.
Every business owner/entrepreneur automatically assumes a marketing role.
Interestingly, even certified and trained marketers still struggle to achieve success in this field. It’s one thing to identify a challenge and it’s another to proffer solutions, as we have reeled out below solutions to the three major marketing challenges SMEs face.
Three Major Marketing Challenges
While large companies who have the power to put in good money into their marketing strategies aren’t still getting 100% result, SMEs struggle with putting little and of course no results. The money for the right marketing strategies and monitoring is more than the start-up capital of some SMEs.
These strategies are so interdependent such that doing one and leaving the other makes it almost irrelevant and will still not yield results.
Bearing this in mind, many of our internationally visioned SMEs, awesome business idea owners cannot get to reach the world because of this particular limitation. So heartbreaking and disheartening. But guess what, we have a way forward;
- Apps and online Tools: There are a lot of free tools and apps that SMEs can take advantage of. For example, apps like Canva can help reduce expenses on graphics design and a lot more.This doesn’t negate the need for a good graphics designer or Full digital service agency, in fact, some agencies have found their niches around SMEs offering affordable services.
- Networking and Blog Subscription: This is one aspect a lot of SMEs fail to take advantage of, as opportunities are made available from either following and engaging with credible key players inyour industry, marketing firms or even digital service agencies as a lot of times they offer giveaways on either their products/services, tips to help you grow and knowledge.
It is most important you subscribe to their contents to learn and grow your knowledge capital which would in due time reflect in your financial capital are.
You also have the chance to be way ahead with the right information when you have the right network.
- Planning and scale of preference: This is very tricky as it has to do with choice, but could save you from unnecessary loss. Have a plan and target for your brand, then realistically place side by side with your needs.
When setting a preference to ensure that the little money you intend to put into marketing should be rightly targeted such that you get a fair result rather than loose.
To every business owner/entrepreneur, time isn’t enough. I hear statements like 24 hours in a day just being insufficient but it’s funny I find myself saying this too.
The brutal truth is that marketing requires your time and not just time, consistent time. There are various means of marketing, a lot of them that you have to give it time to learn, master and consistently practice to see visible results in it.
Take the social media page as an example, let’s say Instagram business page you can’t post once in a year and expect a million likes..it’s not magic..It requires consistency and time.
The challenge of time is another major challenge SME owners also face because they feel there is still time, so sorry to disappoint you, it ain’t real, wake up to the reality things and together go through the way forward.
- Scheduling: It is important to always set out with scheduling your activities, having a plan and target should also have attached to it a schedule.Work preference scaling doesn’t just apply to money but also time as they are also fundamental resources and placing priority on things that really matters in business is very important.
The earlier we adopt this truce in our businesses, the better as devoting good time for your business should be a routine and scaling it into schedules should be a business culture.
Technology has also made things much easier as you can easily schedule your posts on your social media if you get too busy with various available apps. Take time to learn, master and practice.
related post: step by step guide how to prepare a business plan
Marketing itself is dynamic and inexhaustible and with the constant introduction of new technologies and methods, it’s bound to be even more complex and the 4Ps of marketing that used to be the order of the day requires more to succeed in placing your brand on a comfortable position in the marketplace.
It would interest you to know that what which could be seen as a challenge-Knowledge, could be a major key to achieving business goals.
SMEs have to stay informed and updated with the latest trends so as to be placed in a comfortable position in the marketplace and keep being relevant in the 21st-century industry.
Major SMEs fail to see visible results in their businesses because they choose or ignorantly starve themselves of knowledge required to grow.
It’s quite unfortunate that SMEs fail to consult experts especially with agencies offering affordable or free consultations to suit SMEs pockets, yet give reasons of cost and so on but forget it even costs more money to fail. knowledge is too big a challenge to overlook, let’s talk about it.
- Ask questions!: As simple as it is, a lot of businesses perish for this reasons, Masterpiece Incorporated has a culture of offering free consultation to all leads, a service some other agencies may consider foolish, but we prefer to take every lead through a thinking path that sets themabreast with the need for our services. I’m not saying you should try it but it works magic. We also through this understand where we need to improve and this obviously is knowledge gained first hand.
There is no big deal in sending a direct message, mail or even putting a call across to any digital marketing agency to make inquiries.
We are ready to listen. We are ready to help. It’s not always about the money, sometimes it is more about us seeing you successful using the ideas we suggested.
- Pay for it!: The only way to get knowledge is to seek it, thirst for it, ask for it, pay for it…Some may say “what you don’t know cannot kill you” well I’m sorry to bring you out of your fallacy, “what you don’t know can kill your business a million and one times.”
At Masterpiece Inc we’re focused on seeing your business thrive via Digital Marketing that ultimately makes your business more successful by introducing it to the world. Contact us today