Marketing strategy for small businesses

Currently, the trend of displaying and using social networks and websites is very popular, so it is also extremely effective for small businesses to focus on developing online marketing channels. Making good use of online channels will bring many advantages to small and medium-sized businesses. However, to implement effective marketing activities, you need a proper strategy. Let’s join NATAFU to learn about marketing strategies for small and medium-sized businesses.

Marketing strategy for small businesses

Many businesses up to now still have difficulty implementing online marketing, while many businesses do very well and have captured a lot of market share in the geographical area where they do business. It can be said that today, implementing online marketing is extremely important, it can be said to be a prerequisite for the survival of small businesses.

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Why is it necessary to start with a marketing strategy and not something else?

Why do I ask this question? Why strategy and not something else? Have you ever heard the saying “a fish is rotten by its head”? The same goes for your business. A business dies starting from strategy. That’s why you have to start with a business strategy and an online marketing strategy. Doing this well is enough basis for you to ensure the success of your business. Of course it’s not 100%. The right strategy will help businesses orient and have a clear path to follow, so the winning rate of businesses is much higher than businesses without strategies.

How to build a right marketing strategy?

To be able to build a correct marketing strategy, the marketer must first understand what marketing is? From here, they analyze the market, analyze competitors, and analyze macro conditions such as laws, geographical areas, and tastes of people in that geographical area. You need to clearly understand the nature of Marketing so you can come up with the right strategy.

Understand marketing

Marketing is a war of values ​​that addresses the needs of target customers. Marketing is the art of creating value, communicating and distributing those values ​​to satisfy the problems of target customers to bring optimal profits to the Enterprise.

What values ​​in marketing include?

• Rational value: solving urgent needs
• Emotional value: related to emotions
• Value comes from tactile sensations that satisfy the senses.

Trade marketing

Trade marketing is marketing communication at the point of sale to make customers receive information right at the point of sale

Brand definition

A brand is a value that customers perceive. Brands help customers distinguish and evaluate products. A brand is an association value that differentiates one product from another, making customers remember and willing to spend money. Branding is building value so that customers can distinguish, understand and are willing to spend money on the brand.

The brand has two main parts: body and soul. The exact part is the logo, color, key visual of the brand (for example: when we hear Mai Linh, we immediately think of the color blue, …). Soul segmentation is brand positioning such as keywords (key messages), philosophy, and personality.

To build a brand, it usually goes through 4 main stages including:

• Stage 1 (Trade marketing): creating awareness (creating associations).
• Phase 2 (Brand): building differentiated value
• Stage 3 (Trust Brand): making the brand recognized by customers.
• Stage 4 (Love Mark): making customers see it as a brand that they are passionate about, love and support.

Public relations (PR)

In the process of building a brand, PR is very necessary. PR activities include: government relations, press relations, celebrity relations, expert relations, shareholder relations, and public relations. old customers, employee relations, partnerships, philanthropy, CSR, sponsorship activities.

Content Marketing

It is impossible to talk about marketing without mentioning content marketing. This is the most important thing in building a marketing strategy to penetrate deeply into the subconscious of the Enterprise’s target customers. Marketing activities help customers find brands through the values ​​that customers care about. Content marketing creates value through content.

Using content marketing is using unique values, rational and emotional values ​​to make customers interested.

Personal portrait

Identifying customer profiles is extremely important. If you make the wrong determination, it can lead to you going around in circles without reaching your business goals. It is necessary to clearly identify and distinguish between Customer (buyer) and Consumer (end user). From here we analyze the purchasing journey of target customers. Determining customer portraits is often based on factors such as:

• Age
• Which generation?
• What gender?
• Which geographical area? Which region?
• educational level?
• time?
• payment level?
• Hobbies, lifestyle?

Need to determine what is the nature of the customer’s problem? Is the problem urgent? What is the underlying problem? To determine, there is a solution that involves doing in-depth customer research, requiring surveys, interviews, and trend analysis on Google search. Some tools make surveying easier, such as:

• Facebook Audience Insights: facebook.com/ads/audience-insights
• Google Keyword Planner: adwords.google.com/keywordplanner
• Google Forms: apps.google.com/products/forms
• Survey Monkey: surveymonkey.com

Product value strategy based on customer insight

As we have mentioned, product value will include the following 3 basic values

Rational value

• New feature
• Solve customer problems
• Help customers save costs
• Help customers feel more comfortable and convenient
• Let customers feel certainty and quality
• Added value: promotions, discounts,…

Emotional value

Based on Maslow’s theory of needs, we classify customer needs as follows:

• Physiological needs
• Safety needs
• Societal needs
• The need to be respected
• Self-expression needs

Emotional value

Satisfy the senses of target customers.

Process of implementing standard marketing strategies for small businesses

There are many processes for implementing marketing strategies, but in this article I will only present the most basic and practical process for small businesses.

RSTPMMIC strategic marketing process

– R: Research: Product benefits/ Insights/ Market volume/ business problem that needs to be solved
– S: Customer segment: The cost they can spend on that problem.
– T: Target Market: Target market, opportunity, area, time, Split customer base to find suitable products and messages.
– P: Brand positioning: Customers know us – trust us more than competitors
– MM – Marketing Mix: 4Ps: Product, pricing, Distribution, good promotion – 7Ps more: People, Process, Facilities.
– I: Campaign execution, Media planning
– C: Campaign measurement and control

The Marketing strategy process is RSTPMMIC
R: Research, S: Segmentation, T: Target market, P: Positioning, MM: Marketing Mix (4Ps). and 7Ps), I: Implementation and C for Control.

In short, to make it easy to remember, you can use the following mantra:
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Remember with the following tip: RSTPMMIC is Then (R) Will(S) Self(T) Must(P) Groping (MM) 1(I) Little( C)
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RSTPMMIC: Then You’ll Have To Find Out A Little
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Things to keep in mind when implementing marketing strategies

When implementing a marketing strategy, you and your Business need to pursue implementation and be consistent with a single principle, which is to persevere in following the given strategy to achieve it. Tactics can change but strategy cannot change. In the process of implementing the strategy, if you change, the failure rate is very high and you may even go off track and not be able to reach the desired destination.

Contact NATAFU for further advice on online development strategies

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