With new years come new resolutions. We plan to do better than last year by re-strategising based on our learnings from the previous year. Look back at last year (and maybe even the years before that) - ask yourself what worked and what didn't. If it worked, should you continue doing it? Should you continue doing it with a few tweaks here and there? If it didn't work, should you stop doing it? Should you give it a little time to cure - maybe it will work with a little more time and nurturing? Should you continue doing it with a few changes to the plan?
Small and medium sized businesses are a pillar for the economy of Kenya, a load-bearing beam. These businesses need to be nurtured to success if our economy is to survive. At the same time, these very businesses are struggling to keep their heads above the water.
As we take a look back at 2019 and plan for success in 2020, these are the areas that we would advise businesses to focus on to propel them out of the red areas of their business and make them more productive.
1: Get the right marketing technology stack:
For many small and medium size businesses, financial constraints are the story of the entrepreneurs' lives. The businesses have insufficient funds to market their business, products and/or services. For this reason, they aren't generating enough revenue, keeping their business in a doom loop.
It's time to start embracing technology. Automate whichever marketing processes you can automate. Collect data and take advantage of artificial intelligence to help you organise all your information so that you can market better and more personalised.
Back to the doom loop. Financial constraints hinder businesses from expanding and/or hiring more resources to get the job done. This means that the businesses cannot do more than the bare minimum. Their resources may be under-qualified and are bent over backwards to achieve results which end up being not their best work (to put it lightly).
Sometimes doing something poorly is much worse than not doing it at all. Focus on your core roles and outsource the rest. In the long-run, doing it right the first time will be cheaper than all the time you will spend correcting your wrongs.
3: Build your online presence:
Today's consumer is impatient and needs information instantly. The first step of the consumer journey usually begins with search. A quick online search of your business industry, location, products and even business name should give results showing your brand. Getting your name at the top of search engine results is no easy feat.
Your online presence is everything these days. Search exposes your brand to a consumer who is literally asking for your products and services. Search engine optimisation should be at the top of every businesses marketing strategy this year. We are living in a digital world.
Get more marketing tips and hacks from us:
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