Author: Micro Finance Summit September 22, 2015

View image | gettyimages.com

Marketing is very crucial for any business to attract new clients and realize its full potential. Before the internet, business owners paid hefty amounts to market themselves through channels like yellow pages and print media. The internet ultimately introduced a relief through easier, cheaper online marketing options that small businesses could comfortably manage.

It’s extremely important for a small business owner to understand the tenets of online marketing, and choose the best marketing strategies which will yield intended results within the shortest time possible. Since there are many online competitive businesses and scattered markets, the need to stand out can never be overemphasized. Here are 5 critical online marketing tips that any small business owner should consider employing.

Create a Company Website

Information acquisition in the current world is as easy as pressing a button. Most prospects will first visit a company’s website before making up their minds on whether to proceed with transactions or not- proving that a company website is indeed an important investment.

A recent study revealed that 64% of adult Americans own a smartphone, and a significant proportion of them use it to access the internet. Business owners should therefore ensure that their websites are mobile-friendly to tap into this market. Otherwise, it would be frustrating for a potential client to click on your company advert and fail to access your website.

A 2012 Digital Future in Focus report showed that 90% of all U.S internet users visited social networking sites, presenting an immense marketing opportunity for businesses via these platforms- and consequently making social media presence exceedingly critical. Businesses should not only register accounts, but also ensure their names are consistent in all platforms to eliminate confusion and subsequent loss of prospective customers. In a world where everything is based online, it is extremely vital that one secures their spot and brand on the internet.

Use Elevator Pitches

Since the internet is forest of information, it has become increasingly necessary to clearly pitch a business within the first few minutes of an advert. An impatient online community coupled with increased competition has made it imperative for businesses to spend the minimum possible time possible their respective prospects.

A good elevator pitch should last for 60 seconds or less. Alternatively it could be presented as a one-page or less overview of the business. For the best results, it must identify a problem that the business is trying to solve, offer a solution and define the target market. Since every business has a competitor, the elevator pitch should also give reasons why it’s a better option compared to the rest. Other important elements include business milestones, and samples of positive customer reviews.

Closely related to an elevator pitch is a positioning statement. This is a clear and concise statement that explains to the target market why a business is the better solution. In addition to being simple and memorable, it must be well-tailored for the target audience and adequately represent a brand.