To be successful in Business you must have a focused Marketing Strategy. Without marketing, it’s impossible for a business to impress and attract new customers. This could result in a lack of Sales and Profit, which may ultimately push the business to bankruptcy.
A proper Marketing plan with effective marketing schemes can lead a business smoothly from when they first introduce themselves to potential customers. The function is to successfully convert those potentials into loyal users of the business’s products or services.
5 Marketing Tips that Entrepreneurs and Business Owners must remember to ensure the efficiency and effectiveness of their business’s marketing plan:
- Approximately 8 out of 10 Marketing Ideas Will Fail
Even the masterminds of massively successful corporations such as Steve Jobs or Bill Gates can’t get it right all the time. No matter how brilliant you think your marketing idea is, there is a chance that it will fail. You have to understand that this is normal for every business out there. The lesson here is to plan and implement constantly.
- Test, Test, and Test!
Remember to always test your marketing ideas and track their progresses from time to time. Test small first, and keep moving on until you are able to identify a winner. Only after testing everything and select a winner can you expand the idea to fully capitalize on its success. The testing phase might stretch out longer than you can imagine, but it must be done to minimize the potential damages a bad marketing idea can bring to the business.
- Not All Customers Are The Same – Know Your Avatar
Some customers are highly responsive to marketing tactics and some are not. You might want to avoid wasting your time, money, and effort on those who are not willing to budge despite how clever and effective your marketing ideas are with everybody else. Identify your Avatar and cater to your Ideal Client to maximize the profits for your business.
“You can have the best product or service in the world, but if people don’t buy – it’s worthless. So in reality it doesn’t matter how wonderful your new product or service is. The real question is – will they buy it?” – Noel Peebles
- Continuity Is Important
Continuity should be included wherever possible in your marketing plan. Continuity means following up with customers, or give the loyal ones a good discount to encourage them to keep buying from the business (which will add a huge amount of incremental revenue) or better yet, recommend the business to other people.
- Refining. Fine-Tuning. Repeat.
Constant and incremental improvements will deliver greater results over time. Just keep checking back with your marketing plan and adjust them to fit with the current situation of your business. You never know how high your profit from a marketing idea can go so just keep on doing this process of checking and refining. This will ensure you have growth and innovation
For more information on Successful Marketing strategies, contact Maverick Mentoring for Business for a FREE 1-on-1 consultation.
