Starting a new business is often an exciting time, but it can also be challenging, difficult, and all-consuming. The number of different activities a new business has to undertake can push a company to its limit or halt its growth, and this is why many new businesses have concerns about limited resources.
When it comes to resources that a new business may have limits on with regards to marketing, the following aspects can all limit what a firm can do:
- Money
- Time
- Skills
It is clear that money is often very limited for a new business, which means that companies need to find affordable and good value for money marketing solutions. However, it shouldn’t be overlooked that many new businesses find themselves short of time and lacking in certain skills or experience. With a limited workforce and so many jobs to do, many new businesses find that they cannot devote sufficient time to marketing or promotional activities. Add in the fact that many firms are likely to be experienced in the provision of the product or service they offer, but perhaps lacking in other key business areas, you can see why limited resources can have a very damaging impact on the way new businesses develop and grow.
New businesses need to be creative to reach an audience
This means companies must be creative in their promotional and marketing activities. The emergence of the internet and digital marketing have created some free and simple ways for firms to communicate with their audiences, and there is no denying that social media promotion is at the forefront of how many firms engage their audiences. It doesn’t cost anything to set up a Facebook or Twitter account, allowing firms to share material, ask questions, engage their audience, and create a brand or identity for themselves. This is a great start, and the fact that this is a free option, with only the time of the employee to consider when weighing the cost of this work, means that it is something that new businesses are keen to utilise.
However, there is a growing acceptance that social media promotion isn’t having the impact that it used to. There are so many companies competing for space, and individual users are becoming savvier in their use of social media. This means that many people are only looking to engage with firms they actively seek out, making it harder for a new company to reach out and develop their audience. Social media promotion is important and should be undertaken for the wide range of benefits and features it offers, but a new business many find that it is a slow process to achieve success with this approach.
Word of mouth makes a significant difference in developing an audience
Of course, it is not as though firms have only been able to develop an audience for free after the development of social media and the internet. Word of mouth remains a hugely important aspect for businesses, and this means being active and requesting recommendations or support from clients. There is a need for companies to engage their current customer base and request that if they enjoy the service, that they tell their friends and associates. A lot of firms struggle in asking people for support, but when it comes to growing a business without spending a lot of money, word of mouth marketing is essential.
What most firms find is that they actually need to spend some money on marketing, but by doing so, they get a significant return, allowing them to develop and grow. Outsourcing aspects of work costs money, but it provides your business with time, it allows you to focus on your core strengths, and it means you can be confident of your marketing being undertaken properly by experts. Mobile marketing is a hugely effective way of reaching your audience directly and calling on a company like Veoo to provide you with mobile marketing services is a smart idea for a new business looking to directly reach their customers.
By using a combination of free social media marketing strategies while outsourcing work to specialists who can provide options like mobile marketing, email marketing, or even paid for social media marketing, it is possible for a new firm to develop their audience, brand, and reach in an effective manner.
When a company reaches a certain size, they will find that social media marketing for free becomes a lot more effective, but this is why obtaining assistance to reach that point in the first place makes sense.