Whether you’re new in the business, or pre-established, marketing plays a very important role in the future of your business. Every business comes with competition which is a race to capture a big share in the market. Providing better access for people with disabilities is the major motive behind everyone’s plans. But with such competition, how can you set yourself apart?
You can take professional help for marketing when your business grows exponentially. But as a small business owner, these are the three fundamentals which you need to understand and apply to achieve your goals.
1) Analyse your Competitors – Start by taking a look at your closest competitors. You can find them by typing some keywords related to your business, on google. Some examples include ndis provider near me, ndis provider *your location*, *your location* ndis providers, *service name* near me, ndis *service name* *your location*, etc. Continue to make a list of these keywords and phrases that relate to your business and services that you can search for at any time. Note the results down in a spreadsheet for easy reference and safekeeping. Then you can start analysing some of these points: How many employees do they have?, What is their pricing model?, What are their selling points? What social media channels are they present on?, How do they engage with their audience? etc. This way, you can get a precise idea about what’s missing in your business and act accordingly.
2) Conduct a SWOT Analysis – SWOT analysis is a great way to take a critical look at your business to take stock of your current situation and help identify where improvements can be made. A SWOT analysis consists of Strengths, Weaknesses, Opportunities, and Threats. Brainstorm each of the four categories with your team, in detail. Following are some examples of what questions you can ask and comprehend:
- Strengths- What do you do well? What resources and staff do you have available?
- Weaknesses- Where are you lacking? What advantage/s does your competition have over you?, Do you have any limitations?
- Opportunities- Is there an emerging need for our services? Have we received any good press or media coverage? Is competition in our region low?
- Threats- Are there any emerging competitors we are aware of?, Can we keep with and meet demand? Are our clients happy with our services?
3) Data Analysis – Having a good understanding of what data is available to you – and how to read that data – is going to give you a huge advantage. The source of this data is going to be different for every business, like Google Analytics for tracking user engagement, a CRM system to understand your audience base better, demographic information from your social media handles, etc.
The more time you take to understand this data, the more you’ll understand how to market your business and differentiate your services from competitors. Keep practising these three things every quarter and your business will be taking off in no time!
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