What to Consider Before You Begin Marketing
By
VendorSeek
What would happen if a football coach went into the big game without a strategy? What would happen if a construction company began building without consulting the architect? What would happen if a band began playing without preparing a set list? All of these scenarios would go over like a lead zeppelin. Why? There was no implementation of a foundation.
A foundation is especially needed in business in regards to planning your marketing strategies. If you do not formulate a plan or have something to go back to if your plan needs modification, you will fail. Consider the following in originating a marketing plan for your company.
What do you sell?
You need to understand what you are actually selling to optimize the way in which you are promoting your product/service. I know; you are saying, ‘Of course I know what I am selling.’ For instance, a search engine optimization service is selling their SEO services- seems simple. Well, the t-shirt company they are providing services for perceive they are buying higher rankings on Google, opportunity for more revenue, and leverage over their competition. You need to know how your product/service is perceived to market it to consumers.
Who is your market?
Marketing costs money. An IT service’s marketing dollars will be better spent advertising in a computer magazine rather than a page in the Wall Street Journal. More people may read the WSJ, but they will reach more consumers in their target market via the computer magazine. You need to define your target market before you can begin trying to reach them.
Who is the competition?
You need to know what entities are distracting your consumer’s from spending their money on your goods/services. Knowing the competition makes it easier to persuade and reason with the consumers when marketing. What can you offer which the others cannot?
Where is the niche?
There is an angle in which you can market your products that is unique. It may take some time and ingenuity to find it, but it most certainly exists. Small businesses cannot afford to be similar to others in their industry; if your marketing strategy is similar to the big boys, they will crush you. You may not be able to immediately outgrow them, but you can outwit them.
Do they know about you?
Customers need to be exposed to your name about twenty times before you are even considered when the need arises for your product/service. This means you need to know your target market. What radio stations do they listen to? What magazines do they read? What Web sites do they peruse? Wherever they are, that is where you need to be.
What do they think about you?
It is vital to build credibility within your target market. Quality is absolutely necessary. Existing customers must be satisfied. When this occurs, they supplement your marketing efforts regarding potential customers via word-of-mouth.
Are you branding?
It is imperative to build your brand. This means your logo is on every piece of merchandise, letter, ad, etc. You need to provide consistence in your marketing efforts. Your product needs to be the same every time, with every experience, and with every customer has with your company. This builds a reputation which will last.
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