Marketing Basics for Business Owners

Marketing

One of the most important part of every business is marketing. However, marketing is not the simplest field to understand as there are so many terms and ideas that you need to familiarize yourself with before you can really say you understand what your marketing strategy is.

There is no need to kick yourself often for failing to get a full grasp of marketing and because no business can survive without marketing, we have listed a few of the basics of marketing you need to know to get a head start.

  1. Don’t just follow everyone’s advice

The internet has made it easy for junks to be passed around as quality knowledge today, and there is no guarantee that things would change for the better anytime soon.

For that reason, always be certain that the person whose marketing advice you want to follow is a reputable expert on the subject and that they write for a reputable organization. Otherwise you’d be misled.

  1. Define your target market

Knowing who your target market is could well define how effective your marketing would be. When you know who your products are for or who is using them, you’d know how to tailor your marketing efforts to reach exactly how you should.

Marketing gets personal when you market to a group of people with common interest in your product and we all love when a marketing campaign is speaking to us directly.

Focusing on your defined target would also help you get more customers as your current customers would be very happy to discuss your business with their family and friends.

  1. Word of mouth is golden

You can spend so much time and money talking about and promoting your business yet have little to show for it, however, when other people talk about your business is a different ball game because people believe their fellow humans than they believe companies.

Strive to get reviews from satisfied customers and get them to give you referrals and even more than that get to tell their friends and families about your products/services. As long as people are talking about you, your customer base would increase.

  1. Differentiate yourself from your competitors

You cannot be like everybody else and expect to be noticed. Once you do the same thing as your competitor, chances are people would prefer to patronize your competition more than you.

So spend some time creating a different experience to that of your competitors and that means you would have to constantly be looking at what your competitors are doing and do what’s not just different, but better.

  1. Brand yourself

If you are starting out as a business owner, have it at the back of your mind that you are more than your products. Your products may fail and you may have another successful product, but your name is your brand and would remain in the minds of your customers for good or bad reason.

For the above reason, make sure you present yourself in the most positive light as often as you can so that when your brand name is mentioned what comes to mind is a positive image and not a negative one.

  1. Know who your customers are

You cannot deliver the right product without having a good knowledge of who your customers are, for this reason, you have to spend time studying your customers and gather as much information about their demographic and psychographic interests, this way you can continue to deliver what they really want and keep them coming back for more.

  1. It takes money to make money

Marketing is not free. It cost money to get your products out there and build a reputation. To get your marketing off the ground, you have to spend money on things like building a website, creating contents for the websites, promoting your contents on social media, among others.

If you’re unwilling to invest in marketing, then don’t expect people to know about you as much as they know about your competitors who are willing to invest money.

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