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How to create a marketing plan for your small business - build a brand, target customers and set prices that will maximise sales.

The internet has transformed business marketing. No matter what you do, the internet is likely to be at the heart of your marketing strategy.

Social media is firmly established as a marketing tool. Having a presence opens up new lines of communication with existing and potential customers.

Good advertising puts the right marketing message in front of the right people at the right time, raising awareness of your business.

Customer care is at the heart of all successful companies. It can help you develop customer loyalty and improve relationships with your customers.

Sales bring in the money that enables your business to survive and grow. Your sales strategy will be driven by your sales objectives.

Market research exists to guide your business decisions by giving you insight into your market, competitors, products, marketing and your customers.

Exhibitions and events are valuable for businesses because they allow face-to-face communication and offer opportunities for networking.

AmEx survey finds small businesses more upbeat

11 July 2023

New research from American Express and Small Business Saturday has found that most SME business owners are growing in confidence. However, a worrying 35% say that running a business has become harder over the past year, predominantly because of rising costs.

The findings show that:

  • 79% of small business owners expect to grow their business over the next 12 months, up 13 percentage points year-on-year;
  • 64% forecast that their business performance in the final quarter of 2023 will be better than the previous two years; just 15% of those surveyed believe it will be worse.

The annual Barometer survey of 1,000 UK SME owners and decision-makers has also found that a significant proportion of small firms are taking proactive action to drive growth over the coming months - 30% plan to ramp up sales and marketing activity, 25% aim to diversify and 20% will invest in new technology.

Amanda Salt, vice president at American Express, said: "While SMEs continue to face a challenging environment, there are real signs of positivity in our research, with an uplift in business owners and leaders feeling confident about the future, along with plans to invest across a number of areas of their operations."

Michelle Ovens, director of Small Business Saturday UK, added: "It has been another really tough year for small businesses, so it's great to see the tide starting to turn and businesses regaining confidence. Behind our nation's 5.5 million small firms are real people who have shown phenomenal bravery, determination and resilience in the face of all that has been thrown at them in recent years … we need to support them more than ever, and celebrate their incredible impact on local communities and the wider economy."

Written by Rachel Miller.

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