7 Effective Marketing Strategies for SMEs in 2022

The success of any business relies on effective marketing – especially for SMEs or Small and Medium-sized Enterprises. With big names already staking their claims in the market, as an SME business owner, you may be wondering “how do we get our brand out there?”

A successful marketing effort comes from a well-planned marketing strategy. With so many different ways to market your brand, it may be difficult to narrow down which marketing channels you should focus on. One thing to remember is whether you’re in the process of launching your business or with a few years already under your belt, having a strong online brand is extremely important, especially in the age of digitals such as social media and e-commerce.

 

According to a 2021 article by Hubspot, 54% of social browsers use social media to research products – data which we see unfolding in real-time as a recent Statista study predicts that revenue in the eCommerce market is projected to reach US$986.10bn in 2022 and the number of e-commerce users to grow to nearly 274 million by 2025.

 

Here are 7 Marketing Strategies to help your SME business penetrate the market effectively in 2022:

 

  • Social Media is a Contact Sport

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You may have heard this phrase before but what does it really mean? Connections.

More than having an online presence and active social media accounts, it’s most important to build engagement and conversations with your audience and customers online.

As an SME, it is integral for your marketing plan to embrace personalization and make your customers feel like they are friends of your brand and that they matter. This builds brand loyalty and creates ambassadors out of your online followers. 

A few marketing strategies to explore when building engagement with your audience can include online communities or forums, loyalty or reward programs, and even reviews or referrals. Aside from the fact that these tactics are a great source of user-generated content, authentic feedback and word-of-mouth referrals usually close at 50 to 70 percent (sometimes even higher). So take the time to build a relationship and foster trust with your online audience.

 

  • Go Beyond Just Content

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Content may be king but do not forget that Simplicity is queen. These two factors should always go hand in hand when you create your marketing strategy – especially as an SME introducing your brand to the world or even to your local market. What good would your content be if it’s too complicated for your audience to understand, right?

Another marketing strategy that should always be paired with content marketing that most SMEs forget is SEO and link building. Your amazing content would only be successful if people would be able to find it on the wide wide interweb and this is where SEO and link building comes in. Here are some basic steps to make sure that your content is visible on the internet:

  • Create high-quality and value-adding content that your audience will want to share.
  • Make sure to latch on to specific SEO keywords to ensure that your content can show up on online search engines. And regularly optimize your keywords!
  • Try to include trustworthy third-party links and citations on your pages.
  • Generate links to your pages across the internet – these could be social shares or other websites.

 

  • Say No to Hard Selling

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Gone are the days of hard selling and the purchasing habits of consumers have changed. Customers have become empowered by how easily they can research information about any brand online which makes people more likely to conduct thorough research – effectively making them less likely to make a spur-of-the-moment decision.

So instead of taking an overtly direct sales approach, educate your audience on why they need your products or services. Making the information they’re likely to search for availability on your website or social media pages will make it easier for your potential customers to make a decision.

Foster thought leadership by sharing knowledge and data-driven analytics on your website on why your product or service will be the best fit for your audiences’ requirements. Not only will this help you raise brand awareness but also build your industry authority and increase trust in whatever you are selling.

 

  • Find Your Niche

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The fastest way for an SME to get their brand out there is to create partnerships. So when planning your marketing strategy, make sure to determine your target audience, ideal customers, and your niche in the market. Doing so will help you identify potential partners who stand for the same things that your brand does.

While partnering with other businesses may seem ideal especially if your business caters to the B2B market, it’s also important to note that people are more likely to listen to other people – far more than they tend to listen to brands. So don’t close your doors to Influencer Marketing. Contrary to popular belief, influencer marketing does not have to be costly. Finding influencers that can represent your brand perfectly will connect you to customers that would not have searched for your brand otherwise and sometimes, small to medium-scale influencers are more authentic – therefore their audience base is more loyal. With thorough research, you can make use of influencer marketing to extend your reach in the market.

 

  • Tell a Story

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We’ve already mentioned that it’s critical for businesses, especially SMEs, to create personalized connections with their audience. If you want someone who’s hearing about your brand for the first time to remember you, tell them your brand story.

Having a great brand story as part of your marketing strategy can help your audience relate to you better. To create an effective brand story, including how you can help improve the lives of your consumers, play on emotions and purpose, and most importantly, tell the truth – be authentic!

Social causes that you stand for sustainability, helping the environment, or giving back to your community can also be great additions to your brand story as this speaks to the hearts of your customer while also raising awareness for your causes. 

If that’s not enough to convince you, 77 percent of consumers are motivated to purchase from companies committed to making the world a better place, while 73 percent of investors state that efforts to improve the environment and society contribute to their investment decisions!

 

  • Data Beats Opinions

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As an SME, it’s vital that you do things right the first time or at least have a fool-proof plan backed up by research. This is where data and analytics can help you. Data puts people in their place! Looking at a different perspective lets other people see the unbiased truth.

Having a marketing strategy that’s backed up by data gives you an edge while also making your initiatives more effective. Start by doing market research and competitor study. Understanding the market, what the audience wants, what works, and what doesn’t can already give you a boost against your competitors.The best part is that there are a lot of free online solutions that can help you get the data that you need – you don’t need to pay for sophisticated software solutions especially if you are just starting out.

For example, social media analytics are readily available on your business profiles through built-in analytics tools while Google Analytics can help you get website and landing page insights – all for FREE! As long as you know how to interpret the data, these free tools can give you valuable data at no cost.

  • Find Your Fit Crew

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Having a top-notch marketing strategy doesn’t end with planning. The real test of the success of your marketing strategy comes after execution. In order to make sure that your marketing efforts are successful, you need to add rockstar employees and marketing experts to your roster who will bring justice to your plans and strategies.

Hiring the perfect fit and having the best crew for the job will go a long way in helping you run a winning marketing strategy. However, hiring high-caliber staff early in the game, especially for startups or SMEs, may also take its toll on your business, time, money, and other resources.

The good news here is you don’t necessarily have to hire in-house marketers. You can outsource your marketing team to help you start the implementation of your marketing strategy – in fact, 24% of small businesses outsource to improve efficiency!

 

With these marketing strategies in place, you can generate leads and find more customers for your business.

Not sure where to start? Connect with us and see how Sourcefit’s marketing services can help you grow your business!