In today’s competitive landscape, getting marketing right is essential for any small business that’s looking to stand out and attract customers.

However, many small business owners face challenges when it comes to allocating resources and securing the necessary business finance to fund their marketing efforts.

In this blog post, we’ll explore some common marketing hurdles and provide actionable tips to help you take your small business’s marketing to the next level. We’ll also discuss how obtaining the right business loan can empower you to implement these strategies effectively, enabling you to achieve your marketing goals and grow your business.

Common Marketing Challenges for Small Businesses

1. Limited budget for advertising and promotional activities

Lack of budget is not just an issue for marketing – it’s something that all small businesses struggle with.

2. Difficulty in identifying and reaching target audiences

Knowing who the audience is for your products and services is important, but it’s also important to know where that audience spends time online, such as LinkedIn, Facebook or other social media platforms.

3. Struggles with consistently creating engaging content

This can be challenging even for those with marketing resource, but there are multiple ways you can address this without breaking the bank or spending hours and hours of time on it.

Actionable Marketing Tips for Small Businesses

1. Set a budget and align your resources

Allocating a marketing budget and resources is important for the success and growth of your small business.

Here are some key reasons why setting aside a budget and allocating resources for marketing is so important:

• Increased brand awareness: By consistently investing in marketing, you can increase your brand’s visibility and reach a wider audience.
• Targeted audience engagement: With a dedicated marketing budget, you can develop targeted campaigns that resonate with your ideal customers.
• Measurable ROI: By allocating resources to marketing, you can track and measure the success of your efforts.
• Competitive advantage: In today’s crowded market, it’s essential to stand out from the competition. By investing in marketing, you can differentiate your business and showcase your unique selling points.
• Long-term growth: Consistent marketing efforts help to build brand loyalty and foster long-term relationships with customers.

Remember, your marketing budget doesn’t have to be extensive, but it should be a priority. Start by setting aside a small percentage of your revenue and gradually increase it as your business grows.

To illustrate how you can determine and set your marketing budget, read this great blog by SEM Rush.

2. Define your audience

Knowing who your audience is and where they spend time online is crucial to marketing success. Here are a few ways to identify your target audience:

• Create a customer persona: Develop a detailed profile of your ideal customer, including their age, gender, location, income, interests, and pain points.
• Analyse your existing customer base: Take a close look at your current customers and identify common characteristics among them.
• Conduct market research: Utilise surveys, focus groups, or online research to gather information about your potential customers.
• Monitor your competition: Observe who your competitors are targeting and analyse their marketing strategies.

Audience profiling is a huge topic, and there’s a wealth of resources out there to get your started. This blog from Hubspot not only gives you a deeper insight into what an audience profile is, but it also has a detailed guide with examples.

3. Develop a strong online presence

Ensure your website is professional, clearly communicates your brand, your offering, and the products or services that you sell. It should also be mobile friendly, as that’s how many people will first experience your website.

Make sure your website is optimised for search engines (SEO). By taking a few minutes to ensure that each page on your site contains the words that you think people will search for in Google to find you. You can learn a little more about SEO here.

Maintain an active social media presence is also key. You don’t have to post every day, but do post regularly. Ensure your content relevant to the audience you want to reach. To learn more, check out this article by Hootsuite.

4. Create valuable content

Content powers your website and your social media presence, so consistently create content that resonates with your audience and engages them. For example, if you are a shoe company, alongside talking about your products you may also want to create content that speaks about shoes, fashion, styles and more. You don’t have to post every day, but it’s important to get into a cadence that suits you and your available resource. Consistency is key.

Use content to demonstrate your expertise and authority, which in turn builds your brand and your products.

Look what some of the biggest brands and organisations in your sector are doing by conducting competitor research.

The avenues for creating content are huge. So huge, in fact, that it might seem daunting to pick a starting point. But don’t worry, Hubspot also have that covered too in their extensive guide to content marketing that answers every single question you could ever have about creating content. If you find even that too daunting, there’s also this great guide from Reliablesoft.

5. Leverage targeted advertising

Use targeted advertising such as Google AdWords or social media advertising because when deployed effectively it can help to get your products or services in front of new eyes. You can learn about the basics of Google AdWords here and social media advertising here.

6. Collaborate with influencers and other businesses

Partner with influencers who have a strong following and align with your brand values. In doing so, you can tap into their engaged audience and benefit from their endorsement. This can help you reach new potential customers and build trust in your brand.

When selecting influencers to collaborate with, consider their relevance to your target audience, the level of engagement on their posts, and the authenticity of their content. You can work with influencers to create sponsored posts, product reviews, or even co-branded content that showcases your offerings in a compelling way.

By leveraging the power of influencer partnerships and business collaborations, you can extend your small business’s marketing reach and tap into new audiences. This is typically called influencer marketing, and you can learn more about it in this SproutSocial guide.

Real-World Example: Mackie’s Ice Cream Marketing Success

Scenario: Mackie’s, Scotland’s best-selling ice cream brand, aimed to increase brand awareness and sales in England and Wales.

Marketing Strategy:

• Launched their largest ever marketing campaign, incorporating:
  • TV advertising on ITV1, ITVx, STV, and STVplayer
  • Social media marketing
  • Programmatic advertising
  • Radio and podcast advertising
• Tailored campaigns by geography:
  • In Scotland: “Perfect Pudding Partner” campaign to encourage engagement
  • In England and Wales: Focus on brand awareness and recognition

Investment: While specific figures aren’t provided, this was Mackie’s largest ever marketing campaign, indicating a significant investment.

Results:

• 23% increase in sales in areas where the advert was shown (compared to 2% in control regions)
• 11% increase in penetration across the UK over the past year
• Won The Grocer’s Top Campaign Award for 2023 in the ice cream category

This campaign demonstrates how a well-planned, multi-channel marketing approach can significantly boost brand awareness and sales. Mackie’s success came from:

1. Clear objectives: Separate goals for different geographical areas
2. Diverse marketing channels: Utilising TV, social media, radio, and more
3. Targeted approach: Selecting channels and shows that best reached their focus consumer groups
4. Engaging content: Creating adverts that resonated with consumers and showcased product use
5. Measurable results: Using control regions to accurately gauge the campaign’s impact

Small businesses can learn from Mackie’s approach by setting clear objectives, using a mix of marketing channels appropriate to their budget, and measuring their results carefully.

All the tips outlined above are actionable immediately, but they also require investment of time and resources. Which is where business finance comes into play.

The Role of Business Finance and Small Business Loans in Marketing Success

Implementing these marketing strategies effectively often requires an upfront investment. Access to proper business finance allows small businesses to allocate resources to targeted marketing efforts that drive growth. However, many small businesses struggle to secure the necessary funding for their marketing initiatives. That’s where DSL comes in.

Introducing DSL Business Finance

At DSL Business Finance, we understand the challenges small businesses face when it comes to obtaining the business finance and small business loans needed to fund their marketing efforts. Our mission is to support small businesses through accessible funding solutions tailored to their unique needs. We’re committed to helping small businesses succeed and create positive social impact in their communities by providing the business loans they need to succeed.

Some estimate costs of are listed below:

• Website development: £1,000 – £5,000+

• Marketing professional (part-time): £1,500 – £3,000/month
• Social media advertising: £500 – £2,000/month

Take Your Marketing to the Next Level with Business Finance

If you’re a small business owner looking to implement the marketing strategies discussed in this blog post, we encourage you to apply for DS Business Finance from DSL Business Finance. Our funding can help you allocate the necessary resources to achieve your marketing goals and grow your business.

To apply, simply visit our website and fill out the online application or contact our team for more information. With DSL Business Finance by your side, you can access the business finance you need to unleash your small business’s marketing potential and thrive in today’s competitive landscape.