This whole energy fiasco is a sucker punch for small businesses. All around us, we see business owners who feel vulnerable, even more so than during Covid. And, with good reason, most don’t have the buffers of big corporates.
What worries us most is that smaller SMEs may well feel alone. During the pandemic business communities drew together for practical support, but right now battles feel more isolated.
That’s why we’ve created a guide to the marketing force multipliers we have seen used effectively in the ongoing battle for business survival and success.
1. Participate in industry conferences and expositions
A great way to give you the opportunity to meet major distributors and large new clients whilst building your brand awareness. These events can help you understand improvements you need to make in areas that can create multipliers without breaking your business.
2. Get interactive with online users and customer feedback
Take your online presence a step further by responding to customers online. It shows you care, and are part of the community, rather than just another anonymous entity. Whether positive or negative, you should establish a rule of replying to every input. Stay current.
3. Establish a presence on multiple social media channels
It’s surprising to see that so many small businesses fail to appear on a range of platforms. Focusing on one channel may mean you’re missing out a wider range of customers. For B2B businesses, LinkedIn is the recommended social site, as it’s the main networking tool exclusively for professionals.
4. Focus on future opportunities, rather than daily crises
Block out time on your calendar for the multiplier of long-term planning. This enables you not to be dominated by today’s crisis, and rather helps you to focus on a future success strategy.
5. Sponsor customer events for visibility and giveaways
Customers always enjoy special deals, special attention, and will multiply your efforts by their word of mouth to friends. These opportunities also allow you to get a better grip on customer requirements, measure customer satisfaction and market trends and bond with your audience.
6. Establish a partnership with a complementary business
Looking for a synergy partner, merger or acquisition can bring multiplier resources to your business such as a positive brand image, a proven distribution network or related successful products. Pursue only win-win situations, where the sum of one plus one long-term is more than two.
7. Reach out to reward online influencers and advocates
These days, influencers and dedicated fans are some of the most powerful growth drivers on social media, in B2B these guys are your happy customers. Make an extra effort to find these people and make them feel special for supporting you. Establishing a real relationship with them ensures they don’t drift away to others.
8. Seek mentoring from established industry leaders
A mentor can give you timely and unbiased feedback on your business, emerging competitors and industry trends. This allows you to make earlier and more informed decisions to grow your business before a crisis.
We believe it’ll be resilience, resilience, resilience that gets us through the new round of challenges. It’ll be networking, asking for help from our communities, and maintaining a focus on growth that’ll help SMEs continue to flourish.