As a small business, you probably don’t have the budget to invest in a large-scale marketing campaign. However, small businesses can benefit from paying attention to their client lists. They can take the lead in testing out new trends before big brands do. Similarly, small-scale businesses are more nimble and can execute and iterate quickly. Small-scale businesses can also benefit from paying attention to their client lists, as their clients are more likely to return if they feel they have received a good service or product.
Customer feedback opens a direct line of communication with customers. It is through these conversations that a small business can develop new products or discover entirely new segments of its target market. Rogaine, for example, was originally developed to lower blood pressure. In later years, it was discovered that it promoted hair regrowth. Getting customer feedback isn’t standard practice, but it is valuable when used to improve marketing efforts.
While big companies base their marketing strategies on national trends, smaller businesses have an advantage when it comes to reaching specific markets. Small businesses have intimate knowledge of their local communities and understand what their customers want. By segmenting their target audiences, they can better attract new customers and grow their online audience. One way to do this is by utilizing lookalike audience targeting. These tactics are effective when targeting local consumers in order to increase sales.