Marketing – like many other important activities – often doesn’t get the attention it deserves at many SMEs. Marketing resources are generally scarce and budgets are tight, making it impossible to cover off all bases.
According to the 2019 Salmat Marketing Report, the two biggest marketing challenges facing Australian SMEs are reaching new customers (45 per cent) and creating customer loyalty (40 per cent). To overcome these challenges, SMEs need to better understand changing consumer behaviours, the channels they use and how to foster brand loyalty.
Here are four key insights into consumer behaviour that will help you focus your marketing resources to deliver impact:
Being wise about your use of resources is key to a successful SME, and this approach shouldn’t change when it comes to marketing. Invest in Search to reach more customers. Think beyond social. Be smart about discounting. And create a loyalty program to reward repeat customers. By following the behaviour of your customers, you can overcome your biggest marketing challenges and pave a way for short and long-term gains.
Karen Lewis, Head of Digital and ECommerce, Salmat