Marketing for small businesses

Most UK businesses are small, most need marketing expertise, but most cannot afford much.

In a recent blog we noted the dilemma that businesses most in need of professional marketing expertise were least able to afford access to such skills, or have budgeted to spend on traditional marketing communications programmes. Looking at marketing not as an expense, but as an investment the picture can look different. In technology markets the business may have its origins in a new product idea, or a set of products that can address a niche market. However the small business is funded, there will be some revenue expenses that are a regular, probably monthly, commitment such as salaries, premises and utility services. There may also be capital expenses in machinery or tooling which have been made on the basis that the investment will deliver benefits. The benefits might be in lower unit costs of production, or improved quality (less rejects and returns) that will lead to better product profitability and more sales. But the increased sales are unlikely to materialise if potential customers remain unaware of this great product. Which brings us back to marketing. Viewed as an investment, marketing should therefore demonstrate valid returns, which ultimately are measured not just in sales leads, but in profits growth.

First there must be a commitment to make that marketing investment and allocate funds accordingly - the figure will have to be affordable, but it is essential. Secondly it has to be consistent and a regular budget commitment each month. Thirdly the investment should be carefully made to get the right mix. Finally the success or otherwise must be monitored and things not working analysed and changed. This is where outsourced marketing support can  make the difference.

An experienced marketing agency that also understands the company's market, the terminology and technology can help ensure that an integrated marketing plan can be devised and implemented to achieve targets, stay within budget and become part of the team driving the business forward.