On 20 June 2013 the Ministry of Small to Medium Enterprises and Co-operative Development released the Finscope MSME Survey Zimbabwe 2012 which was carried out on behalf of the ministry by Finmark Trust of South Africa in 2012 to assess the size and scope of the Micro, Small and Medium Enterprises (MSMEs) sector in Zimbabwe. One of the glaring findings of the study was that most SME entrepreneurs reported that they experienced challenges in identifying new customers, had too many competitors and lacked sufficient customers. Finmark recommended that service providers to the sector such as consultants should provide support to SMEs if they are to realise their full potential. But before such support comes, SMEs should use simple and affordable strategies to market their brands rather than cry foul about increasing competition or lack of support. Here are few SME brand marketing strategies which entrepreneurs can use.
1. Invest in a logo
Your starting point after putting in place your marketing plan is investing in a distinctive and unique logo for your brand. Research has shown that 40 per cent of people remember what they see compared to what they read or hear. A logo distinguishes your brand from products and services from your competitors. Most SMEs revolve around the founder. A brand logo enables your brand to stand on its own in the mind of your customers. It enables you to communicate your brand to the market in a consistent way. Apply your brand logo to many marketing assets such as business cards, premises signage, motor vehicles among others. This helps to increase the presence of your brand on the market which also increases its memorability among customers both current and prospective. Give away your business cards freely. Give a number of them to your customer after you have done a job for them so that they can refer other people to your enterprise
2. Offer great service
Having a great logo which is not underpinned by a great service experience reduces your brand to a colourful commodity. Some entrepreneurs in manufacturing mistakenly believe that great service belongs to the realm of enterprises in the services sector but nothing is further from the truth. As long as your enterprise has customers, you are in the business of serving customers. A 2011 Harris Interactive study concluded that 73% of consumers prefer specific brands because of friendly customer service. Hire staff that have a service attitude and empower them with both equipment and authority to create wowing service experiences for your brand’s customers. Put in place excellent customer complaint-handling and customer feedback-processing policies which endear customers to your brand rather than drive them away.
3. Premises appearance
One of the areas which most SMEs forget about when marketing their brands is the appearance of their offices or customer service areas. Customers attach a lot of importance to the place from which they are served. For most companies this is the reception area. This area should look professional. Its walls should be free of funny pictures such as posters of the entrepreneurs’ favourite soccer teams or even the most hilarious cartoons. Its furniture should be of high quality as well. Granted,not all entrepreneurs may afford high quality furniture, whatever you can afford should be in a good state of repair. Do not seat your customers on different types of chairs. If you can afford it use uniform chairs as this adds to your reception area’s professional look especially if their colour blends with your logo or corporate colours. Limit the traffic of your own staff who walk through the customer service or reception area by directing them to use other doors to prevent crowding of the area. Your customer service staff or receptionist’s desk should be neat always.
4. Use creative and targeted marketing efforts
One of the major problems which SME entrepreneurs face is funding. This negatively affects the enterprise’s marketing efforts. As an entrepreneur you must think creatively and target your efforts at people who are likely to buy your brand as opposed to following traditional marketing which most often turns out to be out of reach and may not be effective for your brand. Instead of cracking your head trying to think how you can raise US$2000 for a full page full colour advert in The Herald or NewsDay newspapers to market your brand use the US$30 that you have to get twenty motor vehicle bumper stickers to advertise your brand. Members of most local churches have used this strategy to market their church brands with a lot of success. Give the stickers to motorists who live in the neighbourhood of your tuckshop brand. This is more effective in that it targets your neighbourhood which is likely to buy from your tuckshop compared to the full page advert which is a waste your resources as it covers the whole country where none of your customers live.
5. Network
Networking exposes you to other entrepreneurs with whom you an exchange notes and business cards. The dollarisation era has seen a rise in a number of conferences and exhibitions. Attend these events and meet with customers and potential customers. Carry enough business cards on you always at such events. When you attend conferences and workshop contribute meaningfully and knowledgeably as this positions you as someone who knows his industry well. The market respects entrepreneurs who display that they know their areas of specialisation well. The market prefers to buy products and services from such people. Join associations which can benefit your enterprise such as the Small to Medium Enterprise Association of Zimbabwe (SMEAZ), the Business Network International (BNI) or even the business forum at your church and actively participate in their activities. You will enjoy your membership if you join with the view to contribute rather than to just receive business referrals. Contribute and other members will be confident to place business in your hands on the basis of your demonstrated expertise through your contribution to the network or association.
These are only a few strategies which you can use to incrementally grow your business without breaking a bank. The list is not exhaustive. Your business network or business association will provide you with other simple strategies. The secret is to apply what you learn and share your experiences with other entrepreneurs.
What marketing strategies have proved successful in your SME? Share them with us for the benefit of other entrepreneurs.