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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.

Side hustles bring in more than £22,000 a year

24 May 2023

New data from GoDaddy suggests that side hustles generate £22,900 a year on average.

Side hustles can be quick and cheap to set up and they bring in significant profits for workers looking for an additional income. These are the findings of a new report by domain registrar and website hosting company, GoDaddy. Its data reveals that the average income from a side hustle is an impressive £22,900.

The findings also show that:

  • 58% of side hustlers set up their business for less than £500;
  • 48% took just a few days to set up their ventures;
  • 70% hope to turn their side hustles into full time ventures;
  • The average age of side hustlers in the UK is 32.

E-commerce has been at the heart of this success, says GoDaddy, with online side hustles generating £21,400 a year on average. Almost two-thirds (60%) of online side hustlers expect their venture to grow by the end of 2023, while just 3% think they will decline.

The research also shows that increasing numbers of entrepreneurs are using artificial intelligence (AI) to help build and grow their businesses. More than a third (35%) have used AI tools to contribute to their business in some way, with generating social media copy (47%), conducting market research (41%), devising social media strategy (39%) and researching competitors (30%) the most common uses for the technology.

Written by Rachel Miller.

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