We’ve said it before and we’ll say it again; marketing is an essential aspect of any business, regardless of its size. However, small businesses and large corporations do have different marketing approaches. It wouldn’t make much sense for a small web development company to apply the same marketing strategy as a Fortune 500 company.
With that in mind, we’ve highlighted a few of the main differences in marketing between a small business and a large corporation.
Let’s get into it.
Speed
This may seem obvious, but a small business has a lot less cash to invest in marketing. This means they need to see results a lot faster than a corporate client. Small businesses need results within days, not months. This is the biggest difference between these two segments, is speed.
When looking for your marketing partner, make sure they have a fast onboarding process and can guarantee you results such as new leads or enquires, within a few days after going live.
Budget
Another key difference between small business marketing and corporate marketing is their respective budgets, as we’ve mentioned above. Small businesses typically have limited resources and cannot afford to spend as much on marketing as large corporations. This means that small businesses have to be creative and focused in their marketing strategies and find cost-effective ways to reach their target audience.
In contrast, large corporations have more money to invest in marketing campaigns, which allows them to create more elaborate and sophisticated marketing strategies making use of multiple platforms and mediums. Again, the target audience also plays a role here. Some consumers might prefer a small business’s creative, quirky ad campaign to the large corporate in-your-face kind of marketing.
Results Focused
Small businesses generally need a results focused marketing strategy. This means they have a clear goal to reach over a set period. This is usually a specific number of sales or new clients.
On the otherhand, corporate goals generally are focused on brand reach and market share as opposed to actual results.
This again speaks to the long term vs short term focuses that differ between corporates and small businesses.
Marketing Channels/ Platforms
Small businesses generally have a small budget and need to have a focused marketing strategy. This would be focusing down on a few channels, generally across social media, search advertising, and billboards. They need to choose the channels that will get them the biggest bang for their buck.
Large corporations have a more extensive marketing arsenal and can use a wide range of channels, including television, radio, and online advertising. They can go big and broad, reaching every segment of the market.
While it may be tempting to try go big and be everywhere as a small business owner, the prudent approach is usually to be focused and slowly expand as your results and revenues grow.
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