Small Business Marketing: How To Safely Try New Strategies – Search Engine Journal

Marketing

Find out how other small- to medium-sized businesses are successfully increasing their marketing ROI, which will help you follow suit.
When it comes to your small business, are you comfortable with taking risks?
Have you ever experienced the thrill of successfully trying new marketing channels because of your competition?
Maybe you’re enjoying the comfort of your current, reliable campaigns?
You may feel overwhelmed by large business growth strategies, but marketing strategies are not one-size-fits-all.
Small business is different from big business.
By exploring tested, successful small business-specific marketing strategies, you give your small business a safe way to expand into uncharted, potentially viral territory.
We’re happy to share some good news – taking risks doesn’t have to be scary, especially if we look at how other SMBs craft their marketing plans and use them as a guidepost.
On July 13, I moderated a webinar with Amelia Northrup-Simpson, Marketing Manager at CallRail. She showed tested strategies that align with your small businesses to help you maximize marketing ROI.
Here is a summary of the webinar. To access the entire presentation, complete the form.
CallRail surveyed 601 US-based marketers to see how they approached taking risks.
They found out that small- to medium-sized businesses were taking a gamble in the last 12 months. In fact:
As you can see, your competitors may be looking for new ways to get a leg up on you. From their perspective, the risk is worth the reward.
If you can uncover the successful risks they’ve taken, you can implement their newly-tested strategies with little risk.
The risks your competitors are taking are proving to be worth the reward.
The result: 96% of marketers say their risky efforts have increased customers.
[Discover more reasons taking risks is worth the reward] Instantly access the webinar.
Our brains are wired to ask, “What if things go wrong?”
But, “What if things go right?”
Only 12 marketers out of 601 believe that experimental campaigns are too risky for their company’s reputation.
That leaves 589 marketers who are primed to outperform their competition.
It’s important to stay ahead of the game, like those risk-taking marketers.
For businesses that arenʼt taking risks, there is a real risk their competitors will take the lead.
[Discover how your competition may take the lead] Instantly access the webinar →
Most marketers say leadership at their company is hesitant to invest more money into marketing, and it’s hard to get buy-in from leadership on potential new channels.
85% of marketers say that testing new media channels is a worthwhile financial investment for their company.
But 15% still think it’s not worth it.
What’s holding back would-be risk-takers?
Mitigating risk is as easy as making smart decisions when trying new strategies.
Data and organization are your friends for a successful new trial campaign.
Once you have your strategy in place, be sure you’re ready to track what’s working so you can pivot before a potential hurdle.
This is the key to navigating risk.
Better tracking capabilities would lead to more successful experimentation.
[Find out the top tools marketers are using to track ROI] Instantly access the webinar →
Marketers saw social media channels as a great opportunity to gain new business.
The top social media channels for acquiring new business are Facebook, Twitter, Instagram, and Tiktok.
[See the full stats] Instantly access the webinar →
Marketers were also experimenting with other campaigns:
These are great, proven places to start.
Take the guesswork out of what works and doesn’t work by looking at where your competitors are allocating their marketing budget.
Long story short, if a channel isn’t working for your industry, your competitors would not spend money and resources on that channel.
Put your money where your competitors are putting their money.
Here’s the approximate percentage of the marketer’s annual budget allocated per category.
[See an example of what a carpet business did] Instantly access the webinar →
How should you approach your goals?
[Find out what SMART goals are] Instantly access the webinar →
Evaluate the marketing touchpoints a consumer encounters on their path to purchase.
You’ll need lead intelligence to determine if the risk is working out and give yourself time to safely pivot.
[Find out what lead intelligence is] Instantly access the webinar →
Download the Marketing Risk vs. Reward report.
Here’s the presentation:

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Featured Image: Paulo Bobita/Search Engine Journal
Heather has over 20 years of industry experience and is the Director of Marketing at Search Engine Journal. Having worked …
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