SMMEs, marketing and advertising
Why should the SMME consider marketing and PR?
To start with, an SMME should understand the difference between marketing and PR. Marketing has to do with creating an awareness about the products or services offered to the different target groups. Effective marketing should result in sales, in other words more business, income and a profit.
PR on the other hand is creating an awareness of the organisation and building the reputation of the organisation.
When should they start to consider this? Please factor in both the micro SMME and the larger SMME when formulating this response.
To make a head-start in business both small and larger SMME should invest in both from the onset. It is imperative that they distinguish between their PR interventions and there marketing interventions.
How can the SMME expand their business using marketing and PR?
The PR interventions should focus on the USP of the business, while the marketing efforts should be focusing a specific group on specific products and making them realize that they need it and should buy it.
When does advertising need to kick in? Why?
Advertsing is a key component of marketing. It is critical that the owner of the SMME do thorough research regarding the media usage of the target groups. In fact a much detail as possible needs to be obtained to ensure that the best media are used and that the copy of the advertisement is aligned with the profiles of the target group.
How can the SMME ensure that marketing money is spent wisely?
First of all do thorough research on the target market and slice and dice them properly. Set SMART goals that must be achieved by every advertisement, in the different media and then to test amd to measure which one brought in the most quality customers. It would be wise to start with the one that you suspect will bring in the most leads, that you can convert into sales. Test and measure to determine the impact. Keep this one if it rendered enough potential customers, or move on the the next.
What are the challenges when investing in marketing and PR?
The challenge would be money in most cases, but by being clever the owner can generate a lost of “Free” marketing.
The SMME will be a proper business and not one where the owner finds a job, does it, runs out to find another job. Clever PR and marketing will provide a consistent flow of new clients and returning clients. You cannot start a business without it.
Any further insights or statistics you can offer?
In addition to clever, effective and efficient marketing an PR small business owners ought to ensure that they have a professional business coach. Your chances of surviving with a business coach is exponentially higher than if you do not have a coach.