Marketing your business
The key to the success of any business is its ability to reach its target market and convert prospective clients into sales. Marketing and sales efforts are what drive the business forward in terms of growth and expansion.
Marketing efforts should engage an audience and convert prospective clients into sales. In order to achieve this, the target audience should be well defined. This will ensure a high return-on-investment (ROI) for the business owner.
The key is to ensure that the right message reaches the right audience at the right time. Getting the message to the audience isn’t enough. The message must contain key elements that will drive the prospective customer into action. All too often, marketing efforts lack the necessary features to attract the attention of the client, retain that attention, and move the client to make a decision to purchase.
So, what are these key elements of a successful marketing campaign?
Product
The product should address the needs of the customer. This is why it is so important to define who the customer is. The customer needs to understand what benefits the product holds for them.
Price
The pricing strategy is more than just displaying what the product/service costs. It includes discounts, payment plans, free offers, credit terms, and price-matching.
Promotion
This refers to getting the message out about the business and informing prospective clients about the company.
Place
How accessible is the product/service to the client? This is a very important strategy, as people often seek convenience. How easy is it for the customer to access what the business is offering?
People
How are employees in business perceived by the general public? Does the company and its employees have a good reputation?
Forms of marketing
There are various ways to reach prospective clients:
- Advertising
- Promotional emails / Plastic postcard
- Social media
- Personal selling
- Direct marketing
