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How To Drive Small Business Growth With Effective Marketing Strategies

Small Business Growth

How To Drive Small Business Growth With Effective Marketing Strategies

by CliquePrize Staff

May 29, 2023

Small Business Growth Strategies

How does CliquePrize® play a pivotal role in small business growth?

CliquePrize® plays a pivotal role in small business growth by providing a specialized platform and tools to facilitate effective marketing strategies. Here's how CliquePrize® contributes to small business growth:

  • Increased Reach and Visibility: CliquePrize® enables small businesses to expand their reach and increase brand visibility when they run engaging giveaways (i.e. free prizes prospects want to win). The app helps small businesses attract a larger audience at the top of the funnel, including prospects who may not have been aware of their brand previously. By leveraging the app's features, small businesses can tap into new market segments and gain exposure among a wider audience.
  • Audience Engagement and Community Building: Engaging with the target audience is essential for building a loyal customer base. For small business, this customer base is typically no further than 10 miles from their location. CliquePrize® fosters audience engagement through its interactive features, such as Refer A Friend and giveaway content. Participants feel involved and connected, creating a sense of community around the brand. This engagement helps businesses establish stronger relationships with their audience, leading to increased loyalty and advocacy. And best of all, Contestants are rewarded with points for referring friends to enter to win as well.
  • Lead Generation: CliquePrize® acts as a lead generation tool for small businesses. By running giveaways, small businesses can collect valuable data from entrants, such as their first name, last name, mobile number, email address and zip code. This data can be used to build a targeted local email marketing and SMS text messaging list. By leveraging the app's data collection capabilities, small businesses can grow their customer database and increase their chances of converting Sales Qualified Leads (SQLs) into repeat customers.
  • Cost-Effective Marketing: Small businesses often operate with limited budgets, making cost-effective digital marketing strategies crucial. CliquePrize® offers a low entry price point of $99 to run a giveaway, contest or event. The app eliminates the need for complex logistics and extensive resources typically associated with digital promotions such as hiring expensive lawyers to write rules, privacy and terms. That's because CliquePrize® offers a boilerplate template of rules, privacy and terms you can customize to your business. With effective digital marketing that doesn't strain financial resources, you can lower your cost per acquisition (CPA).
  • Data-Driven Decision Making: CliquePrize® provides lead capture data reporting that enables small businesses to track the performance of their giveaways. Small businesses can segment their CliquePrize® leads into Marketing Qualified Lead (MQLs) and Sales Qualified Leads (SQLs) along with conversion rates. The base percentage out of the box for SQLs is 10% but Sponsors (Small Business Owners) can customize this to whatever % makes sense for their small business. This data allows businesses to understand where the quality leads are coming from (SQLs) and maximize their return on advertising spend (ROAS). By leveraging data-driven insights, small businesses can refine their digital marketing efforts and achieve better results over time.
  • Conversion and Customer Retention: CliquePrize® enables small businesses to run email drip campaigns as a follow-up tactic after the giveaway ends. The best way to do this is with a CRM such as HelloLeads.io. Small businesses can leverage this opportunity to nurture relationships, offer exclusive discounts and coupons, and convert Contestants (i.e. Entrants) into loyal repeat customers. By using the Hello Leads' communication features, small businesses can maintain regular contact with their audience, build brand loyalty, and encourage repeat visits or purchases.

CliquePrize® plays a pivotal role in small business growth by providing a platform for effective digital marketing strategies. Through increased reach and frequency, local audience segmentation, lead generation, data-driven decision-making, and customer retention, CliquePrize® empowers small businesses to achieve sustainable growth and success in today's competitive market.

How does CliquePrize® help with the Seven Stages of Small Business Growth?

CliquePrize ®can assist small businesses at various stages of their growth journey by providing valuable marketing tools and strategies. Let's explore how CliquePrize® aligns with each stage of small business growth:

  • Existence: During the existence stage, small businesses focus on survival and establishing their digital presence. CliquePrize® can help by providing a platform for businesses to create and run cost-effective giveaways that generate brand awareness with prospects. By leveraging the app's features, small businesses can increase their visibility and start building a repeat customer base, laying the foundation for future growth.
  • Survival: In the survival stage, small businesses aim to generate enough revenue to cover their expenses and achieve financial stability. CliquePrize® can contribute to this stage by helping businesses attract the right customers through giveaways that offer a trial use of your products or services. By creating enticing offers and promotions, small businesses can track prospects back to Sales Qualified Leads (SQLs). Therefore, with CliquePrize® giveaways you can fill the top of the lead gen funnel with the prospects that truly move the needle.
  • Success: As businesses enter the success stage, they have established a loyal customer base and achieved profitability. CliquePrize® can support businesses in maintaining and expanding their success by allowing them to continue engaging their existing customers and attracting new ones through exciting giveaways and feedback with HelloLeads. By leveraging the app's audience engagement features, small businesses can reinforce brand loyalty and encourage repeat visits or purchases, driving further growth and success.
  • Take-off: The take-off stage is characterized by rapid growth and expansion. CliquePrize® can be instrumental during this stage by helping small businesses leverage the power of giveaways to fuel their growth. By running local promotions and engaging with a relevant, targeted audience, small businesses can quickly increase their market share and capture new repeat customers. CliquePrize®'s data collection and analytics features also provide valuable insights to inform growth strategies and optimize digital marketing efforts.
  • Maturity: In the maturity stage, small businesses aim to maintain their market position while exploring opportunities for innovation and improvement. CliquePrize® can contribute to this stage by providing businesses with insights into Contestant (aka Entrant) behavior, preferences, and trends. By analyzing survey data, small businesses can identify areas for improvement, refine their digital marketing strategies, and stay ahead of competitors, ensuring continued growth and success.
  • Expansion: The expansion stage involves venturing into new markets or diversifying product/service offerings. CliquePrize® can assist small businesses during this stage by helping them reach new target audiences through targeted local giveaways. By customizing giveaways to align with specific market segments or launching promotions for new product lines, small businesses can effectively expand their reach and drive growth in new areas.
  • Exit: The exit stage involves the transition of business ownership. While CliquePrize® may not directly contribute to this stage, its role in driving growth and increasing the value of the business can make it an attractive asset for potential buyers or merger partners.

Overall, CliquePrize® plays a role in supporting small businesses at every stage of their growth journey by providing effective marketing tools, audience engagement features, data-driven insights, and opportunities for expansion. By leveraging these capabilities, small businesses can navigate the various stages of growth with confidence and maximize their chances of success.

Types of Small Business Growth How does CliquePrize help with the Four Types of Business Growth?

How does CliquePrize help with the Ten Easy Steps to Grow a Small Business?

How does CliquePrize® help with the Ten Easy Steps to Grow a Small Business?

CliquePrize® can provide valuable support in implementing the ten steps to grow a small business.

While acquisition growth may provide a fast route to expansion, it is important to note that it may not be suitable or feasible for all small businesses. Acquisitions can be complex and require significant financial resources, negotiation skills, and integration efforts. Additionally, the success of an acquisition depends on factors such as the compatibility of the acquired business, market conditions, and overall business strategy.

Instead of solely relying on acquisition growth, small businesses can adopt a combination of growth strategies tailored to their specific circumstances. This may include organic growth through increasing sales, expanding product lines, or entering new market segments. Strategic partnerships, collaborations, and franchising can also be effective ways to drive growth by leveraging external resources, accessing new markets, or enhancing product offerings.

Ultimately, the fastest way to generate small business growth depends on various factors such as the industry, market conditions, available resources, and the small business owner's goals and capabilities. It is essential for small business owners to evaluate different growth strategies, consider their unique circumstances, and make informed decisions based on thorough analysis and planning.

Here are the 10 best steps to generate Small Business Growth:

  1. Define your target audience: Since CliquePrize® Contestant data is local and segmented by Marketing Qualified Leads (MQLs) and Sales Qualified Leads (SQLs), this information can help you refine the target audience definition and enable small business owners to tailor their digital marketing efforts more effectively.
  2. Develop a comprehensive digital marketing plan: By leveraging CliquePrize®'s digital marketing capabilities, such as running giveaways, contests, events, raffles and instant win mobile promotions, you will be equipped to piece together a well-structured digital marketing lead generation plan. Small businesses can utilize the app to strategize and execute their digital marketing initiatives, aligning them with their growth objectives.
  3. Leverage social media: CliquePrize® offers features that encourage social media engagement and sharing. Small Businesses can promote Like, Share, Mention and Follow social media campaigns in order to generate more Contestant entries (i.e. leads). This is also known as an Alternate Mode of Entry (AMOE) and is highly recommended.
  4. Create valuable content: CliquePrize®'s interactive features can be utilized to create engaging and valuable content for a local target audience. For example, small businesses can design interactive quizzes or surveys that provide useful insights and feedback about your small business's products or services. Think of survey feedback as Market Research directly from your local prospect base.
  5. Utilize email marketing: CliquePrize® enables businesses to collect email addresses from participants in One-Click Enter to Win giveaways or promotions. These emails can be utilized for email marketing campaigns, allowing businesses to offer discounts or coupons, nurture leads, share relevant content, and promote specials directly to prospects who are local and interested in your brand.
  6. Optimize your website: CliquePrize® can contribute to website optimization for Publisher through the use of image backlinks (aka banners) that will be listed in an XML Image Site Map on the web but will also drive relevant reciprocal traffic to the app from the Publisher's website. This increased relevant website traffic can improve search engine rankings and enhance the overall user experience.
  7. Provide excellent customer service: CliquePrize®'s customer engagement features, such as comments and feedback powered by DoorBell.io, allow the app as well as Sponsors (i.e. small business owners) to gather direct feedback on the app's performance as well as the quality of the giveaways. If CliquePrize® and/or a Small Business can promptly respond to inquiries and address concerns, this will demonstrate a commitment to excellent customer service, fostering positive relationships and customer satisfaction.
  8. Build a loyal repeat customer base: CliquePrize®'s loyalty program features can be used to reward Contestants for their Entries. By offering reward points through the app, small businesses can benefit from such programs as Refer a Friend that offers Contestants ONE (1) free point for every Contestant account created via referral.
  9. Expand your product or service offerings: CliquePrize®'s data collection capabilities and customer feedback features provide valuable insights into customer preferences and market trends. This information can guide businesses in identifying opportunities for expanding their product or service offerings to meet evolving customer needs. This is precisely why adding a survey to a promotion is crucial.
  10. Measure your results and optimize your strategy: Once a small business owner knows where to source the highest quality leads (aka Sales Qualified Leads) from, then he or she can make data-driven decisions to optimize their digital marketing strategies to target your best prospects with pinpoint accuracy and cost efficiency.

In summary, CliquePrize® can be integrated into each step of the small business growth process, providing small businesses with a comprehensive platform to execute their digital marketing initiatives, engage with their audience, and drive customer loyalty. By utilizing the app's features, small businesses can enhance their chances of successfully implementing the ten steps and achieving sustainable growth.

By implementing these strategies, small businesses can attract new customers, retain existing ones, and create a solid repeat customer base that supports sustained growth.

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