With less than a month left in the 2014, it’s time for small business owners to develop a plan to maximize their marketing efforts in the New Year. What will 2015 bring for small business owners? Here are the trends to keep an eye on as you develop your marketing plan.
1. Advertising on Facebook will become an essential part of your marketing mix. As a small business owner, you may not be advertising on Facebook yet. But in 2015, you may want to reconsider. Facebook continues to aggressively limit the number of posts your fans can see on your page. So the demand for promoted posts and ads will continue to grow. As with anything, increased demand will necessitate increased pricing. Facebook ad pricing already has gone up 10 percent since 2013. In 2015, expect this trend to continue.
2. Content marketing will remain an important tool to spread the word about your business. Content Marketing is a blend of blogging, social media and email marketing and is a great way to reach your customers without aggressively selling to them. But it requires work. In 2015, take the time to explore it to determine how might benefit your business. Adding content development to the list of services your marketing agency provides is a good idea.
3. Marketing to millennials will be essential. If you aren’t specially tailoring your marketing messages to millennials, you’re missing out. According to Leaders West Digital Marketing Journal, there are 76 million millennials in the United States, and they make up 27 percent of the population. They’re well-educated, with 63 percent having at least a bachelors’ degree. They are also major influencers, with 46 percent reporting that they count on social media when making purchases online.
4. Social media will continue to drive customer service in 2015. Many major brands have been taken to task by irate customers on social media. What this means is that your customers have latitude to say what they want about your products and services. They can influence whether your product sells successfully. This is where social listening comes in. You need to track what’s being said about your brand on social media and respond to customer questions and issues in a timely manner.
5. Minorities’ purchasing power will increase. For small businesses, failing to recognize the growing buying power of minorities will have a negative impact on their bottom lines. According to an analysis of data conducted by USA Today, over 50 percent of U.S. cities now have majority non-white populations. And according to the U.S. Census, Hispanics make up 17 percent of the U.S. population have purchasing power that exceeds $1 trillion. That figure is expected to grow by 2017.
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