Businesses in every industry encounter change marketing AND advertising challenges. In the US, small and medium-sized businesses (SMBs) face major challenges of budget constraints and lead generation. Difficulties also arise when it comes to return on investment (ROI), expertise and competition. IN The AdTech sectorcontent creation, data privacy and ad fatigue are marketing pain points.

There is no single approach to promoting businesses, but there are strategies that can be used based on the unique needs of a business. In this article, I will share four effective and practical ways to promote SMBs based on my experience as CEO of The Mitgo Group.

Team up with a strategic partner to set up the right monetization

Publishers looking to monetize their projects should focus on getting monetization right. This involves a dual approach: monetization through users and monetization through advertisers. While the latter is an older business model, it is still the largest and most established. Conversely, the user-focused model is gaining traction with subscriptions, donations and content sales.

To get the monetization model right, SMBs need to choose strategic partners. The main value for SMBs working with such partnerships is to gain access to large webmasters (such as loyalty programs, cashback services, coupon websites, or content websites) who typically only engage with enterprise level customers. This opens up new opportunities for growth and collaboration previously limited to larger businesses.

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Embrace the control and transparency of partner marketing

Trust is the foundation of success and trust starts with transparency. Affiliate marketing, a collaborative strategy for businesses to promote each other's products, is built on transparency. In this mutually beneficial arrangement, you know exactly what you're spending and the direct returns you're getting. This means you are in control. When you have the knowledge and control you need, you can optimize your campaigns without overspending.

An affiliate program is a specific type of affiliate marketing. While trust in a new affiliate program takes time to develop, the long-term benefits, including clear expense tracking and controlled spending, make it a worthwhile strategy for SMBs.

Prioritize tools over markets

Promoting on marketplaces like Amazon and Shopify, as well as social platforms like Facebook and Instagram, has its pros and cons. Yes, these platforms can potentially generate traffic, but the operative word here is “potentially”. You cannot fully guarantee traffic and sales. You have to earn that traffic and you do that by pouring money. However, any form of paid advertising is expensive. If this is the path a small business wants to take, it has to make a lot of financial sacrifices.

I am not saying that online markets are forbidden. They also have many benefits such as visibility, but don't rely on them alone. Instead, leverage tools and technologies to gain more independence and control over your brand. Tools also give you more flexibility and customization. Best of all, you can choose a tool or a solution that best fits your business.

Leverage the brand experience

The movie “The Intern” follows the story of a widow who becomes a senior intern at an online retailer. There is a scene in the film where the owner passionately explains to her intern how packaging is crucial to the overall customer experience. She takes pride in her small business ensuring that each product is meticulously and aesthetically packaged.

I used the film as an example because it accurately depicts the unique advantage SMBs have in delivering personalized and memorable brand experiences. Small brands can focus on attention to detail and provide exceptional customer service, something you can't achieve with marketplaces. Although they offer convenience, customization for each transaction is out of the question. Meanwhile, SMBs can take advantage of their ability to provide a more personalized touch to develop positive brand perception and customer loyalty.

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Expand your horizons

Promoting SMBs requires a variety of strategies and a broader perspective. You can't have an attitude of “I'll only be here and nowhere else” because that doesn't work. It limits your reach and ultimately hurts your business. As a leader, I strongly believe that a multi-pronged approach gives SMBs (as well as larger enterprises) advantages across the board: expanded reach, achievable goals, increased opportunity, increased freedom, flexibility, and all the elements that can move the business forward. .

List your business on marketplaces and compete for traffic there. Place affiliate programs on your websites. Use optimization tools. Create a more personalized approach. Adapt these strategies to your needs to help you build a thriving and scalable business.