How to Conduct a Market Analysis for Small Businesses

Knowledge is power, whether you are running a large enterprise, a small business or planning to start your business, it pays to know your target audience.

For small business owners, market analysis is an important way of finding information about customers, competitors and the industry in which they operate. But doing market analysis for small business is a tough game. While it is said that it requires a big budget to conduct most of the market research still it is possible for small businesses to carry out effective market research. But the question is how?

In this article, we will discuss ways to effectively conduct a market analysis for small business:

  1. Identify a Market Need: The market need could arise from a problem that customers seek to solve or any goals they are hoping to achieve. Try and identify how to make your business’s product or services better fit in with your target audience’s changing needs.
  2. Identify a business opportunity: Your target audiences need proven outcomes to be drawn in. Business leaders have greater opportunity if he/she can sell a better solution for their needs. The company should have the ability to deliver superior service above expectations.
  3. Choosing a target audience: Your work becomes easier if you know who your ideal client or customer is and why they are interested in the service or products you are offering. Narrowing this down enables you to target the audience who are in need of your offerings.

When should small businesses use market research?

There are certain times in a company’s life-cycle when market research can be highly-useful. For example:

  • To see if your new business idea is in need or not: You have a new idea for your business, but it important to check out whether they area market for your business or not. Don’t just guess and start your planning –use market analysis instead.
  • When moving into a new market: If you planning to sell your product overseas, it is important to know about your target audience. Different countries or states have different cultures and tastes. What works in one might not work in another. Research will help you find out the differences and adapt to them.
  • When applying for funding: Show potential investors that your business is more likely to succeed than your competitors–and that your company is ready to meet the needs of the market.

Stay focused for your business

If your business is growing, you’ll eventually want to consider your focus group, survey, statistical analysis, and market trends approach to market analysis. With the help of the above points,you can decide how best to obtain the answers.

If you are looking to do a market analysis for your business, Dynamic Marketing Consultants is the right choice to help you through it. Meet virtually with our lead consultant and founder to get tailored marketing advice that you can use in your business today!

Results Driven Marketing: The Importance of Web Strategy and Design

Whether your business is located in a brick and mortar building or entirely online, having a strong digital presence and well-designed website is essential for business growth. I’m sure you have interacted with a business website that was too slow to load, and the information you were searching for wasn’t easy to locate. From building out an intuitive website to establishing a solid web strategy, how you design and implement your business website can make or break your brand!

Developing Your Digital Strategy: The Facts

Not every website that looks attractive is effective at converting leads into customers. The modern advances in analyzing big data have ushered in many intriguing statistics demonstrating just how important having an appealing website is. 38% of people will stop engaging with a website if they perceive the layout to be unattractive. Additionally, Time Magazine recently found that a website has an average of 15 seconds to capture the attention of a user, or they simply click out. Having an effective digital presence doesn’t just end with a nice-looking website either. According to the Pew Research Center, 60% of internet access is done through the phone, making having a mobile-friendly website with valuable informative content almost as important as having a website at all!

With these fast facts in mind, before you even begin to develop your business website, it is important to establish a digital marketing strategy including your brand’s vision and goals in order to effectively capture your audience. Bringing on board a web developer with the know-how to accommodate both your brand’s style, product, or service as well as your client’s desire for an intuitive website can prove to be invaluable.

Search Engine Optimization: Can Google Find You?

Once you have a website you are proud of, next, you will want to bring organic internet traffic to it! Potential leads and customers use search engines like Google to search for products and services. Are potential customers easily finding your business? Or your competition’s? Search engine optimization is another aspect of well-executed web design and strategy that is increasingly essential to marketing your business effectively.  With millions of websites on the internet, how do you make yours rise to the top of the search engines? Search engine optimization (SEO) is the answer! Using keyword research, SEO experts can determine what your target market is searching for and cater your content to those findings. This digital marketing practice is what lands you on the coveted first page of Google searches and in front of potential customers looking for exactly what you are promoting! From a creative landing page and website copy that captivates your readers to creating valuable content for your company blog, there are countless ways to use search engine optimization to further your business’s visibility!

Pay-Per-Click and Drawing the Right Attention

While SEO is a great way to passively make your website rank highly in search engines, Pay-Per-Click takes this strategy a bit further. Have you noticed those advertisements at the top of the search engines when you search for particular keywords? Those are Pay-Per-Click advertisements. Those ads are created using tools like Google AdWords. This form of advertising is especially beneficial for increasing a website’s exposure because the ads are rendered based upon the exact keyword searched. Additionally, you only pay for the advertisement if it is clicked by a lead, hence Pay-Per-Click. For example, if you are a Tampa, Florida based personal injury attorney, you would want your PPC ad to be listed when someone searches the internet for “best personal injury attorney in Tampa.” PPC leads will then drive highly qualified warm leads to your website, and with your speedy and attractive business page, you will capture the most conversions possible!

How We Can Help: We Grow Businesses Like Yours!

From inception to execution, we have a well-rounded staff of highly knowledgeable marketing professionals ready to develop and promote your website. You may have the best product or service on the market, but if your web strategy and design are lacking, your profitability is likely lacking as well. Take the first step today toward promoting your brand and its digital presence using current industry standards and best practices! We are here to help every step of the way and have been the powerful marketing boost behind countless businesses and their websites.

Top Things to Consider When Choosing a Business Consultant

Even if you’ve started off managing the marketing of your business strong you will eventually hit a plateau and look for ways to continue growing your business. It is the eternal struggle in business to stay in front of potential clients, create top-notch products, and ensure the best service. But how do you balance it all? Entrepreneurs and business leaders are independent by nature and can be reluctant to ask for help when it could be truly beneficial. Further, it can be challenging to see the big picture and determine where to focus marketing initiatives for the greatest positive outcome.

While no one knows all there is to know about growing a business, consulting with someone who has specialized experience can be a game changer. With so many options to choose from, how do you sift through the options and settle on the business consultant best for your marketing needs?

Clear Communication

From establishing business goals and milestones to creating your brand logo, it is vital for you to be fully heard and understood by your consultant. The ideal business consultant will know the right questions to ask in order to have a firm grasp on your desired marketing outcomes, desired clients, and brand message.  This level of innate understanding of marketing strategy only comes with years of professional experience. So seek to avoid someone who seems to know all the answers without first hearing your business goals and expectations.

Communication does go two ways though! Before scheduling a meeting with a potential consultant, have a set of questions and ask their plan and proposed strategies related to your specific concerns. Seek to build a trust-based relationship as, over time, the business partnership with a well vetted and seasoned marketing business consultant can be the additional point of contact you need to make this your best quarter yet.

But Do They Really Get It?

Perhaps the most overlooked way to determine which business consultant truly aligns with your business needs is to select one with a small business of their own. There is no better indication of a successful marketing consultant than to look at how they market their own business! It is a unique opportunity to have your business marketing processes analyzed by industry professionals with years of dedicated experience, and the “know how” to implement the changes to get your business where you’d like it to be! So, take a good look at your potential consultant’s business processes and determine if they meet your business goals and standards.

Niche Marketing Strategies Abound

Another reason to look outward for consulting help is that there are many ways to improve that you might not have even considered. A marketing consultant has likely worked with brands from various industries and can apply their marketing strategies in the way that best suits your business! Be sure potential business consultants have experience in your industry, be it service based or a product. Different strategies support different outcomes, and a consultant who has a detailed understanding of the needs of your customers and clients will make your marketing that much more effective!

Do Your Own Research

With the internet at our fingertips, it is easy to find a wealth of information about potential consultants with a few taps on the keyboard. Check out the website of potential business consultants and see which clients they have worked with in the past. Many consultant’s websites will highlight their greatest achievements, so if they have great testimonials from local attorneys and that is your industry – you’ve likely found your match! As mentioned, how a consultant markets themselves is a great indication of their marketing skills, so while you are on their website, determine if they approach their personal brand marketing in a way that would be favorable for your brand.

How We Can Help

Our team at Dynamic Marketing Consultants, based in Florida, is comprised of a well-rounded group of marketing professionals to fully support your business. From digital improvements to direct mail strategy and brand revivals, our specialized team is here to make your business the best version of itself! Feel free to contact us to hear more about how we can help – through business consulting and beyond!

What is Your Logo Saying About Your Business?

Branding is an essential aspect of establishing any business. An effective branding strategy can set your business apart in an increasingly competitive market. While most people have a broadly defined idea of what branding means, few truly understand the weight and credibility branding can create for a company. Consider Coca-Cola, one of the most widely recognized brands in the world. They have created a presence so powerful in recent decades that according to Business Insider, their logo is recognized by 94% of the world’s population. So, what exactly does branding entail, and how does it affect your business? Today in this series, we are going to look at important considerations when designing your brand’s logo.

Your brand is the promise and value you offer your customers. It informs them as to what they can expect from your business, what you consider important and what sets you apart. So, before setting out to create the logo or slogan for your business, you should first decide – how do you want your business to be perceived? Is your business built upon generations of experience? Do you offer innovative solutions to modern challenges? By having a solid idea about the image you wish to exude, you can then being to spread your brand’s message and value through the strategic branding of your logo!

Strategic Logo Branding Made Simple

As we have discussed in previous blogs, clearly stating your value proposition enables your employees and work team to have a clear understanding of your company’s vision and goals. Value brings in leads and turns those leads into customers! So, let’s examine logo branding strategies and simple ideas to effectively build a brand logo for your business.

What are the key attributes you want to communicate about your brand? Getting clear on your brand’s message and value proposition is the first step before crafting your logo. Are you looking to garner attention by being a pioneer in the tech industry? Or are you an attorney offering legal services to enterprise clients? Both companies will be seeking to attract drastically different clients, and their brand logo should reflect this fact!

A Logo that Speaks for Itself

A recent article published by Forbes magazine took a detailed look at what goes into creating an effective brand logo, and important things to consider. It went on to talk about a shoe brand, White Mountain Footwear, and their experience with rebranding. They boasted a 20 percent increase in sales immediately after redesigning their typography. From friendly and approachable to traditional and trustworthy, the font used throughout your brand marketing will present an element of your business’s personality. Another widely recognizable logo – Google, boasts memorable bright colors and friendly, clean font. So be sure to research which font family will best suit your business needs when crafting your logo and marketing materials! There are countless resources available online from Google Fonts to fontsquirrel.

The study of color theory has prevailed for decades, and with good reason! Certain colors inspire various feelings and emotions and can either draw in potential clients – or turn them away. From a vibrant and playful yellow to a natural and practical shade of green, the color you choose to associate with your brand can creatively suggest what your business offers and have a tremendous impact on the outcome of your branding.

We’re Here to Help with Your Business Branding

While there are many software and online options you can utilize to create a logo for your business, getting started can be the hardest part. With all the above-mentioned considerations in mind, it can be overwhelming. From building a logo from scratch to breathing new life into an existing one, our marketing team has years of experience and the industry know-how to streamline the entire process. Reach out to us and for a consultation and see how we can take the first step to overhaul your business marketing and reach your business goals this year!