Building brand resilience
NEW TECHNOLOGY, CHANGES TO INFRASTRUCTURE AND ECONOMIC STABILITY ARE ALL FACTORS THAT AFFECT BUSINESSES ON A DAY-TO-DAY BASIS. WITHOUT A FOCUS ON THE FUNDAMENTALS OF MARKETING, THIS CHANGING LANDSCAPE CAN LEAVE SMALL BUSINESSES IN A HIGHLY VULNERABLE STATE. WITH OVER 330 PODCASTS UNDER HIS BELT, YOU’D BE HARD PRESSED TO FIND A MARKETING STRATEGY OR FUTURE TREND THAT AUSTRALIA’S NUMBER 1 MARKETING SPEAKER, DOESN’T HAVE AN OPINION ON. THINK BUSINESS MAGAZINE SPEAKS WITH TIM REID ABOUT HOW TO BUILD A RESILIENT BRAND IN THE EVER-EVOLVING LANDSCAPE THAT IS MARKETING FOR SMALL BUSINESS.
Marketing as an Investment, Not an Expense
For small businesses and entrepreneurs, start-up capital is often thin on the ground, which means it can be hard for businesses owners to prioritise marketing spend. Tim explains this is due largely to the misconception that marketing has to be expensive.
“They think that marketing is going to cost a fortune, and it is such a limiting belief. To get the right message out in front of the right people was expensive, but the marketing world has changed, and all of these changes play right into the hands of start-ups who have very limited budgets.”
With the continually increasing options of free social media channels, cost-per-click and trackable advertising, marketing has never been more measurable or targeted, which removes a lot of the guesswork out of where to invest. Smartphones have also given business owners the power to create their own social media brand identity without the need for engaging marketing professionals.
As powerful as technology is for Small Business marketing, it can also be a minefield of clutter if you aren’t presenting a consistent message. “From a marketing point of view there is always going to be another bright, shiny, new object and they are just distractions.”
Tim has proven in his own career that focusing on the fundamentals of marketing is of more importance than keeping up to date with technology trends. “Get your message right first before you worry about where to put it. Have a website and make sure you populate it on a regular basis, with really helpful content. Get your brand right. Visually the brand is an emotional attachment, so make sure that you have a great logo for every marketing touch point. I encourage business owners not to worry about what the future can bring and focus on the here and now and what they can do to really own a particular space.”
Push Marketing Vs Pull Marketing
Tim is a big believer in finding a way of differentiating your brand from its competitors. With the accessibility and choice that online business offers to consumers, there is no longer any industry that does not exist in a crowded market space. This begs the question to small business owners of why would a consumer choose your brand over another?
Tim’s approach to this challenge is all about attracting customers by offering them solutions that fit their problems.
“There are lots of different marketing strategies, but for me, it’s about the Boomerang Effect, which is the concept of helping and being helpful in your marketing. Pulling people towards you because they love the fact that you are helping them solve problems, to make more informed decisions about purchases, vs push marketing like advertising, sponsorship and direct mail, all of which are valid strategies, but I love being helpful.”
Tim is still as passionate as ever about speaking at conferences and his show ‘Small Business, Big Marketing’.
“My Podcast is very special to me and I will continue to do that. Secretly I’d love to do another podcast about something completely unrelated to marketing or business, just because I love the audio medium.”
TIM’S MARKETING MANTRA
- GET YOUR CORE MESSAGING RIGHT
- HAVE A SOLID ONLINE FOOTPRINT
- GET YOUR BRANDING RIGHT
- RESPECT YOUR VISUAL IDENTITY
- BE MINDFUL OF YOUR GOOGLE RANKING
- BUILD A TRIBE OF SUPPORT PEOPLE
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