- Marketing encompasses all the activities done to publicise a business for the purpose of attracting customers
- Marketing is also about listening to customers to understand their current and emerging needs
“My business is too small for me to invest in marketing. That’s for big companies, not people like me.”
That’s the typical response from most owners of small and medium enterprises (SMEs) when asked about marketing. The word ‘marketing’ implies big spending on media advertisements, celebrities, flashy events, printing of T-shirts and convoys of branded cars. Obviously, the more money you have, the more your options in marketing but there’s something everybody can do with the cash available to them.
If you run a business, you have knowingly or unknowingly engaged in a marketing tactic. Kenyan researchers Shadrack Githinji and Gilbert Nyaga confirmed in a 2022 report that lots of SMEs engage in marketing but without strategic planning.
“SME owners tend to have short-term marketing objectives to ward off threats or secure opportunities," the two explained.
Marketing encompasses all the activities done to publicise a business for the purpose of attracting customers. Examples of marketing include rewarding customers with gifts, advertising, networking, engaging with local journalists and promoting one’s business on digital platforms such as social media.
Marketing is also about listening to customers to understand their current and emerging needs (feedback). Big firms hire research companies to get customer feedback but small-scale entrepreneurs should strive for face-to-face engagement.
How does one go about marketing on a very tiny budget?
1. Have a positive and practical attitude: Instead of dwelling on the lack of finances, it is better to focus on your strengths and what you can do in your circumstances. For example, the building in which your business is located is a great place to put up signs or banners. Your employees are part of the community and could help spread the word about your business to their relatives and neighbours.
2. Prepare a marketing plan: Think about the most appropriate and cost-effective ways of reaching potential customers. If your target market has smartphones, going on social media would be a great way of reaching them. If not, consider traditional (analogue) approaches to spreading the word about your business. In Kenya, there are still lots of people who are not yet on the internet. A customer-driven marketing plan will help you focus your time and money on marketing efforts that will give the best returns.
3. Community involvement: What are the issues that matter in your local community? Getting involved with community activities in your area can be a free or low-cost way to increase your exposure. If you can afford it, sponsor a local sports club or community organisation that matches your values.
4. Keep customers coming back: It is much harder turning a stranger into a customer than dealing with returning customers. The people who already know your business and trust you are your most valuable assets. Consider giving them the occasional reward. Ask them for feedback on what you could do better. Whenever you have new products, your loyal customers should be the first to know about it.