Skip to main content
  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
Hiscox Insurance
Menu Toggle
  • Home
  • Small Business Insurance Toggle Menu Toggle Menu
  • Why Hiscox Toggle Menu Toggle Menu
  • Resources Toggle Menu Toggle Menu
  • Policy Management Toggle Menu Toggle Menu
  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
  • About
  • Get a Quote Get a Quote
  • About
  • Get a Quote Get a Quote
  • Blog Home
    Start Your Business
    Grow Your Business
    Protect Your Business
    Celebrate Courage
    Search

    Small Business Insights

    Sign up to get the latest small business news delivered right to your inbox.
    Grow Your Business
    February 5, 2013
    Five Ways to Market Your Small Business

    Five Ways to Market Your Small Business

    Marketing | Small business inspiration
    By: Hiscox Blog

    Share Image

    Embed Image

    Copy

    Share Article:

    As a small business you can never compete with the marketing muscle that’s used by big firms.

    The amount the average large company spends on advertising each year is probably more than your small business will bring in over the next 100 years. But you can still put together a marketing strategy that will help you to stand out from the crowd. A relatively small amount of work on your part can yield great results. It’s largely a question of doing your homework. Here are five tips to help you develop a sharp message on a tight budget: 1. Set your objectives Every good marketing plan needs to have a goal, a desired outcome for your business. The most successful plans will have just one goal. It’s okay to have more than a single objective, but you need to be crystal clear in your mind what is the main purpose for your marketing campaign, otherwise it may quickly become muddled.

    When defining your objective start with these questions. Do you want to: • Create new leads? • Retain current clients? • Boost your revenue or profits? Once you decide your goals for the campaign then you need to define your target audience. 2. Know your target market Who is going to be interested in what you’re offering. Is there a specific group your product or service appeals to more than others? Could you set yourself apart from the competition by targeting a different audience? Start by asking yourself a few basic questions: • Who does my product appeal to? • Why will they use it? • How is it different to what other firms offer? You need to make sure that your target audience is big enough to sustain your business, or at least justify the expense of your marketing campaign. You should be able to establish that fairly quickly with some basic market research. Once you’ve established your audience, you need to look around to see who are your main rivals for their attention. 3. Know your competitors It’s not a sign of weakness to keep looking over your shoulder to see what your rivals are up to. It’s important to know what they do, so you can sharpen up your own act and differentiate your offerings. Try to focus your mind with these few questions: • Who are my main competitors? • What are my main strengths and weaknesses? • What are their main strengths and weaknesses? Understanding the competitive landscape will help you work out the best methods for communicating to your target customers.. 4. What’s your message? You want to engage your target audience in an interesting way. It’s important to be original, or your firm will just look like a ‘lite’ version of your bigger competitors – smaller but with less flavor than them. Define what is your Unique Selling Proposition (USP): are you a family firm in a market dominated by large corporations? Are you dedicated to good service when everyone else is focused on price? You can be quirky or you can be heartfelt: this is all we do, we’re good at it and we really believe in it. The best campaigns also give a sense of a company’s personality and its values. 5. What’s your medium? There’s no point in developing a great marketing campaign if the people you want to reach don’t see it. That’s why how you deliver your message is just as important as what you say. As part of your research into target audiences. spend some time finding out how they live their everyday lives: you’d be wasting your time making social media your main marketing channel if your selected audience don’t use Facebook or Twitter. If you still feel not certain about the path forward, you could ask a local marketing agency for help. If you can’t afford to pay them why not try to barter with them: you could give them a few hours of free IT support, accounting advice or whatever else you’re able to offer, in return for their advice.


    Protect Your Business

    Protect the business you’ve worked so hard to build. Get a fast, free quote and your business could be covered today.

    Get a Quote
    Get a Quote
    Subscribe to our newsletter

    Related Articles

    3 Min Read
    Business owner sitting at desk on phone excited for National Small Business Week

    5 Innovative ways to celebrate National Small Business Week

    Small business inspiration | Marketing

    The U.S. Small Business Administration (SBA) has designated April 30 – May 6 National Small Business Week. Small businesses across the country will celebrate by sharing ideas, promoting their businesses and generally ‘celebrating small.’ Here are 5 innovative ways to celebrate.

    Read More

    4 Min Read
    small business owners work out finances during inflation on a whiteboard

    3 Tips small businesses need to know when facing inflation

    Finances | Management

    Right now, inflation is higher than it has been in several decades, and everyone is feeling the pinch. Here's how small businesses can survive – and even thrive – when prices are on the rise.

    Read More

    3 Min Read
    couple looking at small business tax deadlines while sitting on couch

    When are 2023 small business tax deadlines? Download this free calendar

    Finances | Management

    Businesses need to stay on top of tax deadlines year-round, we’ve made it easy with this handy calendar that shows what is due and when. Track when to submit payroll taxes, issue 1099s, and more.

    Read More


    We’re here to help.
    We provide tailored insurance for the specific risks you face, so you can take the right risks to grow your business.
    Get a Quote
    Get a Quote

    Footer menu 1

    • What We Cover
      • Business Insurance
      • General Liability Insurance
      • Professional Liability Insurance
      • Errors and Omissions
      • Cyber Security Insurance
      • Workers Compensation
      • Other Coverage
    • Who We Cover
      • Small Business Owners
      • LLC
      • Sole Proprietors
      • Entrepreneurs
      • Side Hustle
      • Contractors
      • Home Businesses
    • For Our Customers
      • Refer a Friend Program
      • Covid-19 Response
      • Claims Center
    • For Business Owners
      • Save with our Partners
    • About Hiscox
      • About Us
      • Careers
      • Contact Us
      • Hiscox Corporate
      • Investors
      • Foundation
      • Newsroom
      • We Stand Together
      • Affiliate Partner Program

    Footer menu 2

    • Accessibility
    • Site Map
    • Privacy Policy
    • Terms of Use
    • Legal Notices
    • Español

    Do Not Sell or Share My Personal Information

    Feefo Reviews: Hiscox rated 4.7/5 with 1,067 reviews between January 1, 2022 - January 1, 2023

    © 2023 Hiscox Inc. All rights reserved. Underwritten by Hiscox Insurance Company Inc., 30 N. LaSalle St., Suite 1760, Chicago, IL 60602. As of December 31, 2022, HICI had admitted assets of $1,458,861,470 and policyholders surplus of $380,056,863. Total liabilities were $1,078,804,607 (inclusive of $529,538,410 of loss reserves) and paid-up capital stock was $4,242,000.

    icon-facebook
    icon-youtube
    icon-twitter
    icon-linkedin