Business Daily Media

The Importance of Marketing for Today’s SME


One of the main problems facing SMEs today is that even though they understand the importance of marketing, many times they just don’t have the budget for it. There are actually ways to reduce the cost but before that can happen, it is important to understand all the ways marketing is the foundation of a business's success. Once that is made clear, it’s time to look at ways to build a marketing strategy for that company and its unique needs. Let’s start at the beginning.

It All Begins with the Budget

Before even looking at the important aspects of marketing, let’s approach the main problem facing many of today’s SMEs. That would be budget. The good news is that there really is no longer a need to hire a full-time marketing team because of the existence of fractional CMO services. What this boils down to is working with a Chief Marketing Officer who puts in a fraction of the hours as would be the case with a full-time CMO, and it is that person’s main priority to research and develop a marketing plan for you.

Sometimes the services they suggest can be contracted through them and other times they will suggest marketing platforms offered by other experts in the field. In this way, you get all the benefits of a full-time CMO at a fraction of the cost. Also, bear in mind that you do not need to pay benefits to a fractional CMO and there are no long-term contracts most often.

Let’s Put Branding at the Top of the List

This, without a doubt, is the most important thing marketing can do for your business. Stepping back a moment, it is vital to understand the role of marketing in business growth. Marketing is how you put consumers in touch with your company. It helps to answer a need for them. They need or want what you sell, and you are here to tell them you have just that. This is where branding comes into the picture.

There may be dozens, if not hundreds of businesses out there that do the exact same thing you do. A fractional CMO will help you devise a branding strategy so that when consumers think about products you have, they think of your company. That, in a nutshell, is the ultimate goal of branding, and branding is the ultimate goal of marketing. It is a way in which consumers think of your business first when they have a need.

Everything But the Kitchen Sink

In the end, there are so very many marketing techniques that it could make your head spin just trying to enumerate all of them. This is why you must have a marketing officer who can look at all those strategies, determining which are best suited to your business and your market. Some businesses try to throw in everything but the kitchen sink, and this is where they are wasting money that could be better spent on other things like market research or product development.

When it comes to marketing, it is vital but not all strategies are well suited to your industry. If you have a slim budget for marketing, as important as it is, a fractional is your best solution. Let a pro devise a campaign for you that fits your limited budget with the promise of the highest results.

Business Reports

Revolut launches educational courses on cryptocurrency in Australia to advance financial literacy

Revolut, the global financial superapp with more than 20 million customers worldwide, is taking another step forward towards its mission of bringing customers the best financial products and services to manage their money. ...

How to Ask for a Promotion or a Pay Rise

We’ve all been there – you’ve been waiting for the promotion that seems imminent, but then it never seems to come. It's hard to know how to ask for a promotion or a pay rise. Do you just go in and ask? Do you wait for yo...

Trump properties aren't the only ones to see wild valuations – putting a price on real estate isn't straightforward

40 Wall Street is one of the Trump Organization properties included in the lawsuit.Roy Rochlin/Getty ImagesOn the lower tip of Manhattan there is a prime piece of real estate, the price of which is somewhat up for debate. To the o...

Why shortages remain common 2½ years into the pandemic

A frequent sight during the pandemic.Diana Haronis/MomentShortages of basic goods still plague the U.S. economy – 2½ years after the pandemic’s onset turned global supply chains upside down.Want a new car? You m...

Liked and shared: How social media can elevate your customer experience

Don’t neglect this golden opportunity to connect with customers and win mind and market share. Is social media central to your business development strategy, or something you squeeze into your schedule, as and when? For man...

Optus | Commentary on governance, policy and procedure - Rackspace Technology

“This incident is all about governance, policy and procedure. You can have the best security solutions in place, but you are vulnerable to breaches without the right policies and procedures overlaid with effective governance...

Web Busters - Break into local search

WebBusters.com.au