Australia’s small business community is a remarkable tapestry of ingenuity, determination and unwavering entrepreneurialism. Running a small business requires total dedication, as leaders must tackle managing staff, cash flow and strategic growth initiatives, while juggling their own personal lives and commitments.
When faced with so many day-to-day challenges, business leaders could be tempted to leave marketing on the back burner. But with over 2.5 million actively trading businesses in Australia, a lack of differentiation through poor marketing strategies can be disastrous.
While business owners are often fighting for time and resources, there are a range of quick and cost-effective measures that boost engagement and help brands build a lasting identity.
American Express’s Supercharging Growth Through Cost-Efficient Marketing, Business Class Masterclass explored how businesses can supercharge growth, even with limited time and a sensible budget.
Hosted by ex-lawyer turned funtrepreneur, Sarah Davidson, the event featured Frank Body co-founder and Chief Marketing Officer and Forbes 30 Under 30 alum Jessica Hatzis-Walker, who also founded one of Australia’s most respected boutique creative agencies Willow & Blake. We also heard from Hero Packaging co-founder Anaita Sarkar, who is also the author of Sell Anything Online, a marketing bible that helps business owners take actionable steps to business growth using digital marketing.
With unique perspectives from two of Australia’s leading young entrepreneurs, the Masterclass explored a range of initiatives and tips for small businesses looking to scale up their marketing activities without breaking the bank.
Here are the four core takeaways that will help organisations run, grow and expand their businesses.
1. Start by focusing on the core brand identity
As businesses grow, so does their complexity. It can be easy to lose sight of the vision that got things started in the first place, as business owners constantly try to maintain and accelerate growth.
When things start to get complicated, Hatzis-Walker says it’s critical to think carefully about the one key message businesses are trying to send consumers.
“Even though my business is over a decade into its life, I’m right there with every other business owner in that I’m still wearing many different hats and running into the same kinds of issues,” she says.
“I always come back to; ‘what is that key message that you’re trying to tell consumers?’ People get really caught up with the shiny new stuff, but brand storytelling is going to be key for success.”
She says that starts with identifying what’s most important to the target customer set, before building a strategic plan around it.
2. Do more with what you have
Businesses don’t always need to hunt down new leads or expand their product portfolio to support marketing activities. When budgets are tight, maximising the value of what they already have is essential.
Sarkar says there are a range of ways businesses can do this, such as offering additional value to existing customer sets.
“We all have old email subscribers, such as people that purchased ages ago but haven’t repurchased since,” Sarkar says. “Think about how you could re-engage those old email subscribers with a new offer, or how you could segment your email database by location for super-specific targeting.”
Sarkar also suggests business owners should think about new and exciting ways of using existing stock, especially product lines that are sitting idle in warehouses.
“Rather than acquiring new things, why not move this old stock by bundling them up as completely new products?” she says.
“A good way of doing that is putting a bunch of different items into mystery boxes and packaging them up for sale. That provides a new experience for customers and it’s going to engage people that have wanted to buy from you, but never have.”
3. Ramp up social media presence
Social media marketing is essential for businesses across all sectors, although it can be difficult to understand how it aligns with a specific business strategy and identity.
Both Hatzis-Walker and Sarkar agree that having a constant stream of content is incredibly important, although approaches will vary depending on the business. Sarkar has built a powerful audience on TikTok by creating content across three pillars, including;
1. Tips, tricks and hacks for industry best-practice.
2. Personal content, including highly-relatable subject matter (e.g. documenting a bad day at work).
3. ‘Newsjacking’, involving a specific take on a trending topic, whether it’s related to celebrity gossip, skincare or news events. When done in line with brand voice and identity, it’s a great way to grow an online profile and could even lead to a viral video.
Sarkar says consistency is key, and she advises to try and post content every day. This might sound intimidating, but she says there is a lot of value in repurposing older content or using B-roll footage to slice one longer video into many different, smaller ones.
Hatzis-Walker adds that LinkedIn is a huge asset for Willow & Blake, as it allows the business to better engage B2B audiences who might be in a consideration mindset.
“I faced the same conundrum of ‘what do I say?’, so I built a list of go-to topics,” she says. “It might be utilising long-form content, behind-the-scenes photos, or an opinion piece on something that’s relevant in the market. It was honestly game-changing for our business. I can’t emphasise how much it’s impacted enquiries.”
4. Be open and prepared for change
Change is an inevitable reality of business growth. New customers bring new requirements and what appealed to existing customers in the past might not suit them in the future.
The ability to adapt is vital.
“Frank started as ‘the most fun you can have in the bathroom’,” Hatzis-Walker says. “Now, we’re about high-performance body care because that’s more relevant for our customers. That’s a big change, but we wouldn’t be where we are without it.”
Leaders can achieve this by thoroughly familiarising themselves with their business data, which can inform them when change might be needed. Sarkar says one of the biggest pitfalls she sees is businesses getting others to manage marketing campaigns for them, without engaging with the numbers themselves.
“A big pitfall is not knowing your ad numbers,” Sarkar says. “Outsourcing and paying other people to manage this means you’re not understanding it. It’s your money, so you need to try and understand it.”
Setting a strong platform for the future
Marketing doesn't have to be overwhelming or budget-intensive for small business owners. Focusing on brand storytelling, utilising existing resources and embracing social media platforms will set a solid platform for future success and business growth.
Leaders need to stay adaptable, learn from setbacks, and keep exploring new strategies to adapt to constantly shifting market dynamics. Success comes from a combination of creativity, discipline and by using the available tools and resources in innovative ways.