5 Tips to Marketing Your Business

Posted 1:03 AM by Mezhal Ulao in Labels:
Image courtesy of: brandautopsy.typepad.com

Many have heard of the word marketing and probably know it's theoretical definition but when it comes to it's application have caught many speechless. So for your convenience I have compiled these simple marketing tips to help you get started on the road to Business Marketing.

1. Know your Customers - The foundation of all good marketing is to know your market. That means your customers. The well marketed business is completely customer focused. They identify what the customer wants or needs, and then supply it at a price the customer is prepared to pay.

The customer is always right. That is the classic saying which has fallen from favour in recent years. However it is true. The customer is always right, provided that they are the right customer.

2. The Four P's of Marketing - The four P's of marketing are:
  • Product
  • Price
  • Place
  • Promotion
Product is what you are selling. Not just the physical product or the actual service, but all the customer benefits and values that the product represents. It is usually not important to have the best possible product. Cutting edge and feature packed products cost more. The key is to have the most valuable product in its price range.

Price is the amount that the customer must pay. This is the acid test of whether the features you added to the product were really valuable, or whether you might have been better to cut a few low-value features out and so be able to offer a lower price.

Place is sometimes thought unimportant to online business. However, many deals still go best with a handshake. Services can only be cost-effectively provided within a fixed travel-radius. Shipping costs matter. Place is still a vital concern. With the internet, all online shops are on the super-highway and equidistant to any customer, and yet people still look for local and regional suppliers. Financial and legal issues are still mostly set by place too. Where will you place your distribution centers? Would better placement of your business let you ship faster or more cost-efficiently?

Promotion is the P that everyone knows Marketing is about. Of course, we are not only talking about advertising in promotions, but also sponsorships, public relations, special offers, viral marketing, and so much more.

3. Get your potential customer's attention - Image means everything. Packaging attracts and appeals to a person most especially if it hits the right nerve and that means making use of a person's senses and engaging them to feel the product. This has proven to bring in results more so if there is a lot of competition for the same market niche and in the blogging community that can be quite a lot.

4. Motivate them to participate/buy - Promotions, interaction on a human level and incorporating a welcoming attitude towards your visitors have in more ways than one proven to be quite helpful in not only bringing in people but it encourages those that you get to stay and continue to use the service. Focus on listening to what your clients want and you'll find that this will guide you to where your industry must and should go. Don't forget to also get leads from your satisfied clients as their referrals will be easier to capture in terms of interest.

5. Analyze - Keep on continually monitoring and testing new ideas and old ones and see how each one affects your numbers. Find a good resource for information and experience to help you improve on those that you are good at and to help you avoid practices that may be nasty for your goals. Ask for advice from experts and keep an open mind when approaching a venture, sometimes things that could improve your business can come as a flash inside of your head and that is something you have to be ready to catch.

Overall Never Give Up - Keep on Trying new things - for as all marketers know that sometimes even with all the numbers and statistical data luck and providence do play their part in any industry.

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