There are several strategies small businesses can leverage to compete in their local markets.
These top strategies for small businesses to dominate local markets shared on this post will help you stay ahead of the competition and remain profitable.
According to forbes.com, approximately 543,000 new Businesses get started each month.
And out of these Businesses, 80 percent made it to the second year and only 56 percent made it to the fifth year. By year 10 only about 33 percent survive.
This is really a disturbing stats, as small businesses account for 64 percent of job creation in the United States alone.
In as much that there are so many factors that contribute to this failure like 42 percent of them not being able to provide the market with what they need and 29 percent running out of cash.
Another core reason to note is that most failed to get their message across to their target audience as quickly as possible and make sales at a volume high enough to sustain their cash flow,
As the majority of small businesses depend on cash flow to keep running effectively.
If you’re looking for ways to dominate your local market as a small business owner
Or you want to make sure that you’re among the 33 percent of Small Businesses that crosses the 10th year mark and remain profitable
Whatever the case may be, I will be showing you in this short post on how to utilize simple but effective marketing strategies to reach more of your customers as quickly as you can, build a reputable brand in the shortest time possible, and dominate your market as fast as possible.
And here is the best part, the thing I will be showing you here requires little or no money to get started.
Just a mere determination to succeed and you are good to go.
Quick note: This is not for the faint-hearted who are always looking for the latest shiny objects or gimmicks to grow.
Just think about it… The thing that makes successful businesses successful is because they are willing to do what the unsuccessful guys are not willing to do.
While the unsuccessful guys are looking for the latest hacks and tricks, they pull up their sleeves and kept working hard on their businesses
Having said that, let’s go ahead and show you how to implement these simple steps and get your small business to dominate local market.
The first thing is GMB,
Optimize your Google My Business profile(GMB)
It surprises me on how the majority of small businesses are not taking huge advantage of the free and direct traffic Google My Business offers.
Here is an example of 1 of my Client’s results and the amount of traffic GMB draws to her business in a period of 3 months.
Here is the results she gets from Google My Business in 3 months…
This particular Client generates over 65% of her business just from her Google My Business listing alone.
As a small business owner, this is one of the core things you should give attention to.
Most small businesses have not yet claimed there Google My Business Listings, leaving them with no chance of showing up when customers are looking for them in their locality.
Here are 3 Things you need to do to generate more traffic, leads and customers from your Google My Business listings
Show up on Google Map 3 Pack
Make sure you’re showing up on the first 3 Businesses that Google display when a user searches for what you do in your locality.
Here is the result I get for the search query “Financial Planner Houston, TX”
Just like the funny joke that goes around the internet
“If you want to hide a dead body, hide it on page 2 of Google”
The same humor goes for your Google My Business listings.
“If you want to hide a Dead body, hide it on the more places under the 3 map pack of Google my Business.”
The truth is that majority of your customers won’t click the more items.
In fact, most don’t even know it’s there.
To improve your chances to rank at the top of Google My Business ranking I recommended you hire a professional SEO Agency that knows about local SEO and Google my Business ranking.
And that takes us to the 2nd part
Get Reviews from Past Customers
Getting your past customers to drop positive reviews on your Google My Business profile builds Trust, which is a key factor in selling.
Just like the saying that people buy from people they know, like, and trust.
But how long do you think it will take you to get people to know, like, and trust you?
Quite some time right?
We need a way to get them to know, like, and trust us in the shortest time possible and that’s through online reviews and testimonials.
Here is a strategy and how it works…
The strategy we will use is called FOMO (” FEAR OF MISSING OUT”)
And the way you can use the FOMO strategy on your Google my Business profile is to get lots of your past customers to drop a well-detailed positive review for products and services.
Get them to talk about how the product or services you provided help them to solve the problems they were having and not about how good or awesome you’re.
The reason is, online prospects can smell a fake review from afar.
If a past customer can relate to the problem they were having while dropping a review for you, it makes it more relatable to them and this builds the trust in them that you can help them solve their problem.
When it comes to getting social proof online such as online reviews and testimonials, never leave it in the hands of your customers to do it whenever they like.
Follow up with them and get them drop a review once they are pleased by your product and service.
In summary, here are 2 things you need to do to win more customers from Google My Business.
The first one is, make sure you are showing up on the Google Map 3 Pack.
The second is, make sure you get lots of reviews and do your best to reply all.
Whatever the number of reviews your competitors have, try to 2X or 3X it.
Aside from this statistic, that shows that 67% of consumers choose a company based on online reviews
I have heard so many people make presumptions on how good a business service is based on online reviews.
Get them, is important!
Create Value-Driven Content
I know you have heard a lot about content, what it is, and how important it is towards growing your small business.
But I’m not here to teach you what content is or how important it is to your business – I guess you already know.
What I will be sharing with you is how to generate and structure your content to get most people that landed on your website or social media post who don’t know you to move from “I don’t know you – to – how can I buy your product or services.
Let’s start with how to generate your content.
Being able to generate content has been one of the major challenges small business owners face online.
Most small business owners don’t know what to write on.
The few that make post uses guesswork to write hoping that their audience will find the post valuable, which in most case they did.
The best way to generate content is by having your prospects tell you what to write on.
I know that sounds naive but that’s it.
So here is the thing…
Your prospect has a burning question about your products and services, right?
Answering those disturbing questions that your customers or prospects are having is the key to generating valuable content.
This is something they need immediate help with.
If you can answer those questions in form of a content, you’re not only solving their problem which will generally make them to like you but you are also building your business as an authority in that field.
Now if you don’t know the hell-on-fire question your prospects are having and you are not bold enough to ask them
Here is a simple way to generate ever-flowing content topics to write on a daily basis without running dry.
Visit popular sites like reddit.com, quora.com and top social media sites like Facebook.
Join a group in your industry on those websites and start noting down the questions, doubt, and challenges people have concerning your product or services.
And reverse engineer by creating content around those questions they’re currently having.
Doing this will bring a lot of goodwill to you and help you connect better with prospects and customers than your competitors could.
This is because you are providing them with ultimate value upfront without asking them anything in return.
Also note that you’re not limited to only the 3 sites I mentioned.
This can be done on any website where you Prospects gather be it a book review site, Amazon and others.
Ok, now that you know how to generate content ideas or topics, let’s talk about structuring your content the right way.
Structuring your content the right way is all about writing with the reader in mind.
Make it easier for your prospects to read your content by using simple words and breaking your sentence in two to three lines.
Never exceed 5 lines.
This is because when most people see content online, what they normally do is to scan and not read.
Make it much easier for them to go through your content with ease by breaking it into 2 to 3 sentences and using simple words.
Be Active on Social Media
With the consistent growth of social media platforms all through the years and the need for businesses to stay closer to their customers
Being active on these platforms is no longer a choice for your small business rather is a must.
Social media is one of the major places to build a loyal fan base that will support brand and business.
You need to be were your customers and prospects are, providing them with more valuable content and engaging them.
They are on social media most of the time and you need to be there.
Your customers now need an extra level of attention
You have to take your engagement rate very seriously on these platforms.
In as much as the increase in globalization have some positive impact on small businesses such that their products and messages can get across to consumers worldwide.
It also comes with stiff competition between small businesses to win over more customers.
To succeed you need a very clear and strategic plan of action.
The 3 strategies I shared with you are not the only thing you can do but it will get you ahead of the competition.
Take action today and do what the successful businesses do.