3 Challenges Many Small Businesses Face And How You Can Fix Them

Written by Wall Street News on August 10, 2018. Posted in Co op marketing, Industrial distributor co-op, Industrial market research company

For many small businesses, the first few years can be a struggle. In fact, according to the U.S. Bureau of Labor Statistics, up to 20% of small businesses will fail in their first year.

But these numbers don’t have to mean that you need to spend your first few years running your business in fear. Instead, consider these numbers as motivation. Many problems that give small start-ups a run for their money are surprisingly fixable.

Here are three challenges every small business faces when they first start out and what you can do to fix them because they become a nasty problem that sinks your battleship.

  1. Marketing issues. There’s a lot more that goes into a marketing campaign that many small business owners may not be aware of. For instance, you need to do a lot of research on your target audience and competition to not only market well but also to set your business apart. This can be especially problematic if your business doesn’t have a lot of marketing experience. By outsourcing your marketing services, you can save a lot of time and money in your marketing campaigns.
  2. Finding your customers. If you’re having problems with your marketing services, it may be because you’re not sure how to find customers. This is a problem many marketers face whether they work for small or large businesses. To fix this problem, you need to first determine what your target customers are like. Once you’ve gotten this far and created a persona of what your buyer is like, you can create more specific content that actually targets your target audience and (hopefully) gets you more leads.
  3. Lead generation. Lead generation is another problem many businesses face whether they’re large or small. In fact, only 1 out of every 10 marketing professionals believes their lead generation campaigns are effective. Lead generation is what turns your website’s visitors into customers. To increase your lead generation, you need to do a whole lot of optimizing including optimizing your website to improve your sales process and prioritizing popular pages of your website.

Marketing services can be a challenge whether you’re a small business just starting out or you’re a large company that’s been around for years. In fact, only 48% of marketers surveyed said they planned to add YouTube to their content distribution channels just this year.

Fortunately, an industrial marketing agency can help you with your MRO marketing services whether you need help with your co-op marketing funds or animation services.

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