Marketing Trends 2011 for Small Business
Here's what the Editors of MarketingZone see as marketing trends for U.S. small business during 2011, along with tips to help small businesses grow and succeed at marketing.
Trend #1: Small businesses are confused with too many marketing tactics to choose from. With so many choices, small business marketers are confused about what marketing approach, or combination of marketing tactics, will work best. Typical questions: can I stop doing anything? What new marketing approaches should I be trying? What really works?
Trend #2: Small businesses focusing their marketing on a few tactics to look like a bigger fish in a smaller pond. Many small business marketers are choosing to focus their marketing mix on just a few marketing methods (email marketing, Twitter, Facebook marketing, direct mail marketing, catalog marketing, search ads, natural search, blogging) to gain traction. These tactics "level the playing field" and make it easier for small businesses to compete.
Trend #3: Experimentation. Trying, learning, adjusting, trying again. Marketing has become more and more like a big science experiment because most of the new tactics are very nimble and fluid.
Trend #4: It's still (and always will be) about how to get customers, keep customers, and get customers to buy more. Marketing in small business is all about sales!
Trend #5: Email marketing isn't working as well with so many people getting email on their smart phones. It's important to adjust email newsletters and email alerts to make sure they'll work for people who are seeing your message on a very small screen.
Trend #6: Mobile marketing. Lots of new companies and services are emerging to help marketers connect with people to attract them to come in to your store. Foursquare was one of the first. Now there are many other companies.
Trend #7: A love-hate relationship with deal-a-day coupon services like Groupon and the 400 other knock-offs. They work to attract a lot of people quickly but they aren't profitable and can cause bad customer service problems if you're not prepared.
Trend #8: Branding isn't just for Coke and Starbucks. Small companies want to establish and build successful brands too.
Trend #9: Low and lower response rates on search advertising unless you are giving away something for free. (Also mis-clicks on search ads with more people using search from their phone and hitting something they didn't mean to. This is resulting in higher bounce rates for small businesses using search ads).
Trend #10: Trade shows and seminars = undivided attention of customers and prospects (if you can get them to your booth, demo or event). People are at these events to learn and network and they're not multi-tasking as much as they do when they are on a conference call or webinar.
Trend #11: How to get the press to cover your business? Get to influential bloggers. Become an expert. Speak at conferences. Be visible on social media. It's way more than sending a press release.
Trend #12: How to save money on marketing. For a small business, it's the owner's money. If it doesn't go for marketing it can be spent for a vacation or to hire a new sales rep.
Trend #13: LinkedIn works for B2B networking. Search ads on LinkedIn may be an effective new way to attract new clients.
Trend #14: Facebook Fan pages and Facebook advertising. Lots of potential and optimism. Not much buzz about how effectively it all works for small businesses.
Trend #15: Social media marketing. Over-hyped. Needs to be used much more strategically. It's free so lots of small businesses are trying it.
Know this: The companies that seem to be making all the money during this social media revolution are the "infrastructure people", the companies that make tools and offer services to monitor social media. Learn about Social Media Monitoring as a new way to listen and learn what your customers are saying online about you, your company and your competition.
Trend #16: Referral marketing. More and more consumers and B2B buyers are saying, "Please let a trusted friend tell me what I should do." And small businesses are responding by learning all they can about how to get more referrals.
Trend #17: Advertising still seems to work if you have enough $$$ thanks to the media-multiplier effect of seeing an ad on TV, hearing a spot on the radio, seeing an ad in print and online. But what small company can afford that type of ad campaign?
Trend #18: Mini catalogs that are sent to very targeted lists and promote the equivalent of in-store end caps with the best items and promotional offers to get someone to go to the retailers website.
Trend #19: Mobile marketing. Mobile advertising. Mobile-friendly websites.
Trend #20: Article marketing doesn't work so well now that Google changed their search algorithm to penalize "content farms."
Trend #21: Word-of-mouth. It's never been out of fashion.
Trend #22: Printing innovations that increase relevancy, save money and are even good for the environment
- Digital printing
- Print on demand
- Printing on your color office printer
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eBooks
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Book self publishing
- Self publishing a magazine
Trend #23: Direct mail postcards
- Bigger is better and so is getting them done through a one-stop online service.
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Direct Mail Postcards How-to Guide
Trend #24: Business networking and getting out of the office.
Trend #25: Focus on reputation management online. What to do about negative posts on blogs, Facebook and Twitter?
Trend #26: Google. Google. Google. They own ~70% of search volume. Their tools are great and free. They index new content 10X faster than other search engines. They're offering free coupons for $75 and $100 to try their search ads.
Trend #27: Choosing a marketing strategy of extreme targeting and relevance or spray and pray for a 1% response rate.
Trend #28: Market research, especially qualitative-quantitative. That's research that has the benefits of a 1:1 interview or focus group (qualitative) and is conducted with enough people (quantitative) to make the results statistically valid and projectable.
Trend #29: Tools and services to make it easier to monitor (eavesdrop on) social media conversations on Twitter, blogs, Facebook.
Trend #30: Reducing spending or eliminating reliance on printed Yellow Page (and ll the knock-off) directories. Creating listings in online directories. Same strategy.
Trend 31: Newspaper advertising in the local small town newspapers
Small businesses, especially retailers, realtors and restaurants, still continue to rely on ads in the local town newspapers like the Palo Alto Weekly (vs. the San Jose Mercury News). These small town local papers have loyal readers and ad sales teams who work with small business owners in person to help them create and place ads. These newspapers cover the news other papers don't: pee wee football, high school sports, reporting on local education, town hall and city government. They have "happy news" and feature stories about good things local people are doing and they mention as many people as possible in the paper each week. Their readers tend to be the most involved and engaged people in town. This combination of the paper's reporting and their high-touch sales consulting for advertising continues to work well. Too bad these trusted local newspaper ad sales reps can't sell small business other means of reaching their target audience.
Trend #32: Starting a blog and then realizing it's too much work to post 3X week and drive traffic and run your business.
Trend #33: One-stop online services. They're now offering direct mail lists, websites, coordinated marketing brochures with flyers, promotional logo wear. (No, we didn't get paid to mention them).
Trend #34: Getting paid to recommend something (also known as affiliate marketing).
- When we asked a blogger who shall remain nameless to include a link to MarketingZone, we heard back, "The companies that I list as 'alignment of interests' are the companies that I advise and have either an investment or options in." Now that's taking affiliate marketing to a whole new level. Get stock to recommend a company or service.
Trend #35: Templates and tools to make marketing easier for novices. It's not as easy (yet) as a cake mix but it's getting there.
Trend #35: Hiring marketing freelancers and specialists and marketing consultants instead of full-service marketing agencies.
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Capital One Bank conducted a market research study and reported these results for how the majority of the small businesses allocate their marketing budget. Here's a summary of those findings about Marketing Strategy
- Newspaper and other print ads are the most popular marketing tool among our small business sample, with 62 percent investing in this type of marketing.
- One-third (34 percent) of small businesses are currently using online ads to market their business.
- Fourteen percent of U.S. small businesses say they market through Facebook and/or Twitter and five percent use social couponing like Groupon or Living Social. Only three percent of respondents write a company blog and 2 percent are currently making use of location-based mobile applications like FourSquare to market their business.
- Twenty percent of small businesses market through radio and about the same percentage (19 percent) use TV.
- Traditional networking is also a popular marketing tool among small business owners - 51 percent of businesses polled currently use this tactic to market their business.
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Here's a link to the Press Release from Capital One Bank
- Google's ZMOT, Zero Moment of Truth. A video and eBook from Google executives about how they see the buying/purchasing process changing.
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