Please respond to each prompt in at least 100 words. These are thought responses and will require no references, just your thoughts on the prompts.
One business strategy that could bring in new business for a small business is to branch out their marketing strategies. Given many people (especially the younger generations) are so strongly hooked to social media, it may be a useful strategy to consider using social media “influencers” to help promote their business rather than the traditional marketing strategy’s of ads in the paper. Given that we are dealing with small businesses, even enlisting the help of more local “influencers” such as the local radio station DJ’s or news stations (as many of them have social media accounts in addition to traditional marketing).
I feel that this strategy would be extremely effective because it is appealing to the younger generations that are rapidly becoming the largest consumer groups in the USA.
These strategies are regularly used by large corporations on a very broad scale (at a great cost), but have been proven to be effective. If you were to scale this down to a more local level you would most likely see similar results that would eventually lead to the growth of your business. By having an “influencer” sharing your information you are able to network to an audience that may have been previously inaccessible because of the new technological barrier between generations.
The best way for a small business to market themselves especially in small towns where there may not be a lot of traffic is to advertise on social media outlets and to piggy back on event in the community. I feel this is a very productive way to attract customers and to compete with larger companies. For example, I am a runner and I had been searching for a store or group run that I could participate and run with others in my community.
During a half marathon that I ran this new small business running store was opening up in the town where the race was. I had never heard of the store nor would I have found the store and the great people there if they would not have been one of the main sponsors of the race. Needless to say I have found the store I now prefer to shop at for my running needs because they are local and the atmosphere is more welcoming than when I walk into sporting goods store of a larger scale.
The use of Facebook also helps them get information out to the members of the group and allows it’s members to share the information to help grow the store.