This article was written by Trupti Kokane pursuing Startup Generalist & Virtual Assistant Training Program. 

This article has been published by Sneha Mahawar.

Introduction

Content marketing is a modern and popular marketing approach in which companies focus on creating attractive and valuable content for a selected group of audience. Attracting and engaging, as well as retaining target customers, could be the primary objective of a content marketing strategy. In content marketing, companies prefer to develop valuable articles along with videos, podcasts, and other media to achieve overall marketing objectives. In this article, the importance of content marketing, especially for small businesses, will be explained. Also, how content marketing strategies and special tips can be utilised to enhance a loyal consumer base will be discussed in this article.

Content marketing

Content marketing deals with distributing and developing valuable content for target customers to generate leads for the business. Increasing internet awareness and the use of mobile technology have created a better scope for content marketing strategies in the market. In this modern age, companies prefer to use different types of social media channels, along with blog sites, mobile applications and other digital mediums, for the implementation of marketing strategies. 

For example, creating and posting attractive content on the official social media handles of businesses has helped to enhance customer engagement. Especially small businesses can use social media platforms to reach a large number of potential customers, which is essential for enhancing overall business performance. Apart from that, these platforms also support businesses in resolving queries and complaints from customers and provide essential information about products or services to potential customers. As per the Demand Metric, approximately 90% of businesses are using content marketing strategies to enhance business performance. Currently, more than 4.4 billion people across the globe are using different social media platforms for various purposes. This data indicates that even small businesses can use social media platforms to reach a large number of customers. This statistic shows the importance of content marketing in small business management.

Overview of small businesses

Small businesses play a significant role in the economic development of the world. These businesses generally support the global economy by creating more job opportunities, investing in capital innovation, and working for social welfare or local community development. According to the World Bank, formal SME businesses contribute more than 40% of the total GDP in emerging economies. In order to maintain a balance between the global workforce and employment opportunities, approximately 600 million jobs will be required by the end of 2030. However, in emerging economies, formal SME businesses are responsible for creating approximately 7 out of 10 job opportunities in the market. Hence, governments in various countries are providing additional support to small businesses. On the other hand, managing business during market uncertainties, i.e., a lack of financial assets, and other resources and strong market competition, could be major challenges that small business entrepreneurs face while operating in the market. Small business organisations can use digital marketing platforms to promote products or services as well as create a positive brand image for the firm in the market. Creating attractive content would help small businesses attract potential customers, which is essential for enhancing overall business performance and achieving corporate objectives. Apart from that, customer relationship management can be improved by using content marketing strategies. 

Types of content marketing strategies

There are different types of content marketing strategies that small businesses can use to promote their brand and achieve other marketing objectives. The study and analysis of customer demographics, including technological awareness and accessibility, need to be considered while selecting a specific content marketing strategy for the firm.

How small businesses can implement content marketing strategies for enhancing business performance

Content marketing strategies would help businesses expand their reach, enhance audience engagement, and drive business growth. Small business entrepreneurs need to keep their patience and use consistent effort while implementing content marketing strategies for businesses. Small business organisations need to follow specific steps or guidance for effectively developing and implementing content marketing strategies:

1. Develop objectives: Before developing content marketing strategies, small businesses need to identify and establish a specific goal along with objectives for content marketing initiatives. Generating leads, enhancing website traffic, increasing overall business sales, and creating brand awareness could be major objectives that small businesses might select during the content marketing strategy development process. These goals could help businesses measure the success or failure of their content marketing strategies.
2. Understand your audience: In this step, small business organisations need to create customer personas by evaluating information about customer needs along with pain points as well as motivations and preferences. Here, the management can use analytics tools to gain information about consumer buying behaviour and interest areas.
3. Develop attractive content: After gaining information on potential customer interest and behaviour, the management needs to focus on developing attractive content. Creating blogs along with videos, as well as infographics and podcasts, would help small businesses maintain engagement with their target audience. Focusing on developing quality content that can educate, entertain, and resolve customer problems would help to attract more audiences. 
4. SEO Optimisation: The management can use keyword research tools such as WordStream or SEMrush to identify relevant keywords. Creative content using relevant keywords would help small businesses enhance website traffic and customer engagement.
5. Develop a Schedule: In content marketing strategy, small businesses need to develop a specific plan, including a schedule, in advance. This schedule would help small businesses maintain consistency in publishing relevant content for their target audience. Consistency in content marketing can help to develop interest and build trust among potential customers. 
6. Promotion of content: In order to promote the brand through a content marketing strategy, the management of small businesses can use different social media platforms such as Facebook, Instagram, YouTube, and LinkedIn. The management can share its content with the target audience by using social media platforms. Email marketing strategies can also be used to promote the company’s content. Apart from this, small businesses would be able to resolve customer queries and complaints as well as enhance audience engagement through social media platforms. Influencer marketing or collaboration strategies can also be used to reach niche audiences. 
7. Management and control: In this stage, the management of small businesses needs to stay updated with existing market trends and consumer demand. Factors such as economic situation, changing trends, government regulations, and other external situations could influence consumer buying behaviour. Hence, small businesses need to study and analyse all these factors while developing content marketing strategies. This practice would help small businesses reduce the risk of a failure as well as enhance the effectiveness of content marketing strategies.

Challenges that small businesses might face while developing and implementing content marketing strategies

There are various challenges that small businesses might face while developing and implementing a content marketing strategy. They are:

1. Limited resources:

Small businesses must invest a particular amount of capital in developing and implementing different content marketing strategies. Limited budgets, a lack of specialised talent and expertise, and time constraints could create challenges for small businesses to develop and implement a content marketing strategy. Small businesses should hire SEO experts and adopt advanced technologies to successfully promote their businesses through content marketing strategies.

2. Creating quality content:

Knowledge and expertise could be required for creating high-quality content for a content marketing strategy. The management of small businesses needs to follow a particular schedule to maintain consistency in publishing content.

3. Market changes: 

Small business organisations must stay updated with existing or popular trends in content marketing strategies. Customer preferences and market trends frequently change, which may create challenges for small businesses trying to balance their day-to-day marketing operations. Apart from this, small businesses also need to be aware of algorithm changes and search engine updates to develop effective content for target audiences.

4. Measuring the success or failure of content marketing strategy:

It could be a challenging task for small businesses to calculate the return on investment needed to measure the impact of a particular content marketing strategy.

5. Content distribution:

Small business organisations have to invest their time and effort to reach the right target audience. Due to strong market competition and increasing online noise, they can face challenges in reaching their target audience through content marketing strategies.

Conclusion

In conclusion, content marketing strategies can help small businesses reach a large number of target customers, which is essential for enhancing sales and creating a strong brand image for the firm. Due to an increase in internet awareness and mobile technology, the scope of content marketing strategies has increased. Through content marketing strategies, small businesses can develop and distribute valuable content in the form of text, videos and pictures to generate leads and achieve other business objectives. Small business organisations play a supportive role in the global economic development process. Website blogs, along with podcasts, influencer marketing, and user-generated content (UGC), are the different types of content marketing strategies that small business organisations can use to attract a large number of potential customers. Small business entrepreneurs or management must establish a plan before implementing content marketing strategies.

References

1. https://www.demandmetric.com/content/content-marketing-infographic 
2. https://backlinko.com/social-media-users 
3. https://www.worldbank.org/en/topic/smefinance 
4. https://backlinko.com/hub/content/types 
5. https://marketing.expertjournals.com/ark:/16759/EJM_511vinerean92-98.pdf 

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