In April of 2023, Localogy hosted their annual event, L23, to provide data-driven insights and action items for small to medium sized businesses. Topics included new technology, SaaS tools, acquiring customers, structuring your business, and more. Dedicated to the constant journey of learning, The Moran Group attended the event and is excited to break down the top three takeaways for SMBs! 

1. The Importance of Social Media Marketing for any small to medium sized local business‍

As time goes on, the power of social media just continues to grow. Not only are the number of channels growing (we’re looking at you TikTok & Discord), but how customers are using social media has changed as well. Social media marketing is a great way to feature and highlight what your business has to offer potential customers or repeat customers. Social has also started expanding into more of a search engine. Did you know that Gen Z is famous for using TikTok as a search engine? Don’t forget that social channels can also double as a review engine. Whether people are directly leaving recommendations on your page or just pushing out feedback related to your brand via a personal post, it’s important to keep tabs on the social sentiment around your company. 

2. How to use Chat GPT for competitor research‍

As you can imagine, AI and Chat GPT dominated the weekend discussions. You can’t work in the digital space or marketing world without hearing the term “artificial intelligence”. This is an invaluable way for SMBs to quickly and efficiently spot any holes on what the market is doing that your business may be missing out on.  

3. Importance of diversity‍

Yelp spearheaded a keynote speech that dived into the importance of diversity, engagement, and belonging from a business perspective. While businesses likely constantly think about diversifying their customer base, it’s important to bring that same philosophy into your internal team. How can you speak to and identify with your wide range of customers if your team doesn’t align with that picture? The keynote also hit on the importance of engaging not only your customers but your internal team as well in a constant feedback loop. The more frequently you’re getting feedback on your business and your product, the better your service or product or business will be overall. As a local business, it’s important to solicit feedback regularly from both your customers and your employees in order to identify areas of improvement or areas you’re excelling in from all perspectives. 

Ongoing education and staying at the forefront of the marketing world is a key focus for The Moran Group. Interested in discussing any of these topics in greater detail? Wondering how these takeaways can help your business? Contact the experts at The Moran Group advertising agency! We’re happy to talk through best practices and how to apply it to your company specifically with our customized marketing solutions.