It’s quite a challenge, as they often don’t have the same resources or financial muscle. However, like David versus Goliath, SME’s can move quickly and stealthily, so one way is by adopting a ‘Guerrilla’ marketing mindset.
Guerrilla marketers are by definition creative and devise their own unconventional methods of promotion. They use all of their contacts, both professional and personal and examine their company, its products and staff, looking for sources of publicity and marketing edge.
When implementing guerrilla marketing tactics, being an SME is actually an advantage. Small organisations and entrepreneurs are able to obtain publicity more easily than large companies because they are closer to their customers, considerably more agile and can react far quicker.
So what are the 5 basic principles behind guerrilla marketing?
– primary marketing investment is creativity and time, not money
– the prime business measurement is profit, not sales
– it is about achieving greater value, and more regular sales with existing customers and creating new relationships
– drilling down to focus on the core business, rather than attempt to diversify by offering too many products and services
– using current technology, as a tool for efficiency, with the initial goal being to encourage interest.
Creating this mindset is quite often a seismic shift in attitude because it requires a very open mind. It requires an investment in time to learn about new marketing techniques and to discuss the business with staff, customers and suppliers.
It requires a very clear definition of what the business does and where it is going, a clear understanding of how competitors are performing and being able to put yourself in your customer’s shoes, asking, ‘What’s in it for them’, when they buy from you?