Marketing is an important ingredient to an entrepreneur’s business success. This is because most of the business ventures that entrepreneurs engage in require that their service offerings and products are known to their prospective clients and customers. If marketing is not done properly, that business may offer the best products or services in the industry, but none of its potential customers would know about it. As a result, the company may not make enough sales and ultimately the entrepreneur may have to close shop.
OLD VS NEW
There are traditional ways of marketing, which mainly include getting publicity through advertisements to the media. Some of these methods are costly and may not have a wider reach as they used to. With online tools, it is relatively easier, faster and cheaper to introduce one’s products and services to a broader target. Social media marketing, for instance, is one of the most popular and effective ways to promote your company to your clients and customers.
But, both the traditional and newer ways of marketing have their pros and cons. It’s always important to have a great understanding of your target market and developing an appropriate approach to communicate a compelling message that will appeal to their needs. Below are a few marketing tips that you may use:
Quality of your product and service
The greatest way for marketing your company or business is through the quality of the products and services that you offer. Great products and services will get you noticed sooner than expected. Invest in the improvement of your products and service.
Your network is your net worth
Some customers buy only from the people that they know, and others also buy because they were referred by someone. So, it’s important to build a network of relevant people in your industry and line of business that may create new connections and relationships that will lead to the growth of your business.
Your commitment to your potential customers and clients
There are many companies who forget their customer as soon as a sale is made. This is not good and it might affect the business negatively. You must always assure your customer of support after a sale or service has been rendered. One of the best ways to go about this is through issuing warranties for your products.
Your corporate social investment
Make sure that your company makes a difference. If you employ people, make sure that you recruit some of the locals with the necessary skills. Or, make a donation to a local school, library, and clinic. The community will most likely be interested in what your company offers and how they can support your business.
Your reputation and brand
A company’s reputation is very important to its continued existence. You may sell the best products in town, but if your company’s reputation is bad it may affect your sales. A great entrepreneur strives to build a good name for his company.