The online presence of a business or an entrepreneur is what matters most in today’s digital age. In respect to MSMEs (Micro, Small, and Medium Enterprises), marketing strategies for small businesses such as blogging, email marketing and social media advertising are great tools to increase sales and maximum profits. However, many MSMEs face challenges in adopting digital marketing strategies due to a lack of skills, resources, awareness and expertise. A digital marketing strategist plays an important role in helping them understand the importance and functionality of online marketing tactics.
Let us understand the basics of an effective marketing strategy for MSMEs.
The importance of marketing for MSME growth
According to a recent survey by Forbes, there are approximately 633.9 lakh MSMEs in India. In this competitive landscape, marketing plays an important role in helping businesses reach their target audience. An effective marketing strategy enables MSMEs to create brand awareness, build customer relationships and generate sales. While a small business entrepreneur is not equipped with all the resources, an effective marketing strategy can pave the path to success. A unique and edgy MSME marketing strategy can showcase the USP of the business and help it sustain itself in a dynamic business environment.
Challenges without a marketing strategy
In this digital age, where every business is putting high stakes into marketing, not having a well-defined marketing strategy can be a mistake. A marketing strategy consultant will direct your advertising efforts toward higher efficiency. This ignorance can lead to a number of challenges, as mentioned below:
Inconsistent brand messaging Inconsistency in your brand messaging can confuse your target audience and dilute your brand identity, making it harder for customers to identify and connect with your business. Therefore, it is necessary for entrepreneurs to create a successful personal brand.
Ineffective targeting and segmentation Ineffective targeting and segmentation can have negative consequences for the marketing campaign, such as increased costs, a lack of customer loyalty, and missed opportunities.
Poor customer engagement and retention Without a clear plan in place, businesses may struggle to effectively engage with their target audience, resulting in reduced customer loyalty and retention.
Lack of measurable results Businesses may find it difficult to determine the return on investment (ROI) of their marketing activities without a plan of action, making it challenging to make informed decisions for better results.
Success stories of MSMEs with effective marketing
At 26 Tech, we aim to create effective marketing strategies for MSMEs that result in higher profits and more visibility.
CASE STUDY - I
26Tech took up the challenge to prepare a highly effective marketing strategy for the company launching its SaaS product. The product was being launched in a crowded space and needed a clear and effective plan to differentiate itself.
How did we do it?
Conducted in-depth analysis of the industry and the existing players in the market for a new product launch We conducted an in-depth analysis of the industry to understand the ongoing trends, market size, growth potential and competitors. This helped to identify the gap that the service can fill, thus helping the brand stand out from the existing players in the market.
Researched and identified the different customer personas that make up the buyer’s journey We conducted thorough research and market segmentation to gain insights into consumer needs and purchasing behavior. A well-researched plan increases the chances of a successful launch as it allows us to understand the buyer’s journey.
Defined positioning of the brand with respect to its competitors We defined the brand's positioning by highlighting the key features, benefits, and values that set their product apart. This positioning will serve as a foundation for all their marketing efforts and help create a distinct identity for their product in the market.
Created a multi-channel marketing strategy and executed it for launch Crafting compelling messaging and tailoring it to fit each channel is necessary. By leveraging the power of digital marketing, social media, content creation, email marketing, and traditional advertising channels, we maximised their product's visibility in order to generate buzz prior to its launch.
RESULT: The company has a structured plan of action for the next six months that drives expected goals and leads to growth.
CASE STUDY - II
We took up the challenge to create a well-defined content marketing strategy for Tanushree Nair. Our goal was to streamline her multiple pieces of content into a cohesive and structured content strategy that she could implement consistently.
How did we do it?
Defined company’s customer persona A successful strategy revolves around good research about the target audience to understand their preferences as well as pain points. Creating a customer persona helps understand consumer demographics and guide marketing efforts.
Strategised for each channel based on the audience As each platform attracts different types of audiences, it is necessary to tailor our messaging and content accordingly. We chose different niches for each platform and tailored the content strategy for what works on that platform.
Defined content calendar across multiple channels To ensure that we were regularly reaching out to our audience, we created a content calendar that mapped out our marketing activities across multiple channels. This calendar helped us stay organised and maintain a steady flow of content, whether it was blog posts, social media updates, or email newsletters.
Created a hashtag bank To leverage the power of hashtags, we created a hashtag bank that included a variety of relevant and trending hashtags. This allowed us to easily incorporate them into our social media posts and increase our reach.
The brand had a highly effective content calendar to streamline its tasks for the next few months. This eliminates the chance of missed postings and develops consistency.
Digital marketing's role in competitiveness
In the competitive times for business organizations, a digital marketing strategist can prove to be helpful in driving successful results. A marketing strategy consultant will plan an effective MSME marketing strategy and lead the path to growth and success. Our aim at 26Tech is to convert raw content into success pillars for your brand. We work with small businesses and help them take over today’s edgy landscape with simple yet effective marketing efforts.