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Small Business Focus: How to get your marketing right in a shrinking media world

9 July 2020 8:38 PM
Tags:
Marketing
Media
Pavlo Phitidis

Pavlo Phitidis says focus must be on the customer group you are trying to reach. You've got to get your demographics right.

Pavlo Phitidis, founder at Aurik Business Accelerator, is a handholding specialist on Thursdays. he has a timeous observation that in a world where the media is shrinking at the scale that it is and a rapid pace that it is for small businesses, most of which are heavily dependent on the reach of a particular community media, with that gone, how do you reach your customers?

It's very worrying. If you look at what happened earlier this year, there were some very well-known magazines that faded away, we now have this announcement from Media24. They're losing some of their titles, Caxton have lost some of their titles, newspapers are being lost.

Pavlo Phitidis, Founder - Aurik Business Accelerator 

COVID-19 has really gone and accelerated the decline of these magazines but what is concerning around it really offered an alternative platform for a small business that might afford to take an advert or two in a year to get itself heard and seen above the noise because in the interim what we have also then seen is a massive concentration of digital platforms, really there are nine of them in the world today, five of which sit in among there companies.

Pavlo Phitidis, Founder - Aurik Business Accelerator 

Between those five social media platforms and the rising power of Amazon, which is also selling advertising space more actively now, eating and challenging them, it's become what is called a "cac place", the customer acquisition cost, has become unaffordable for small-medium enterprises.

Pavlo Phitidis, Founder - Aurik Business Accelerator 

Do not focus on the product or service you are offering. Focus on the customer group that you are trying to reach. That means you've got to get your demographics right. That means, for example, the measurable aspects and character of the market that you want to reach.

Pavlo Phitidis, Founder - Aurik Business Accelerator 

Listen below for the full interview...


9 July 2020 8:38 PM
Tags:
Marketing
Media
Pavlo Phitidis

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