- Do market research
- Define your target market
- Identify your special offer
- Develop your business brand
- Choose your marketing medium
- Set your goals and budget
- Feed your loyal customers
- Review and review
Do market research
Market research is an important part of developing your marketing strategy. It is about gathering information that gives your customers insights into buying patterns and locations. In addition, market research can also help you predict initial sales, track market trends and keep track of what your competitors are doing.
Find out more about market research.
Define your target market
Trying to promote your product or service to everyone can be costly and ineffective. Grouping or segmenting your potential customers based on specific characteristics will help focus your marketing efforts.
The classification is generally based on factors such as:
Geography - Location
Demographics - Age, Gender, Education Level, Income, Occupation
Behavior - Honesty, attitude, readiness to buy, consumption rate
Lifestyle - social class, personality, personal values.
Your target market should have a demand for your product or service and be willing to pay for your offer.
Identify your Special Sales Request (USP)
USB is the only reason your customers buy from you and not your competitors, it is what makes your business stand out from the crowd. It is important to identify what you do differently and be able to present that point to potential customers. This usually reflects your particular knowledge or skills.
Your USP may have new or special offers or special services. Start setting up your USB by answering the following questions:
What do you love most about your products and services?
What special skills or knowledge do you have?
What makes your customers come to you instead of your competitors?
How do your customers benefit from purchasing your product or service?
What overview do you highlight when you describe your business to strangers?
Develop your business brand
Every business, regardless of size, is likely to need a brand. Brands are more than just logos, colors, or labels that are clear, engaging with your target customers and show who you are, what you stand for, and what you can offer.
Choose your marketing medium
While there are many, you can consider your target audience when you determine which one to use.
Options include business sites, social media, blogging, flyers and flyers, web events, advertising, word-of-mouth advertising, cold calls and ticket dropouts.
Set your goals and budget
Marketing goals will help you determine what you want to achieve through your marketing activities. Your goals should be SMART: pecific, m easurable, a ttainable, elevator r and not IME based.
You will also need to allocate a budget for your marketing activities. Your marketing budget will include the following:
Website development and maintenance
Search Engine Optimization Strategies
Brand design
Printing of promotional materials (business cards, leaflets, logos, etc.)
Advertising
Donations and sponsorships
Hire staff to do marketing activities.
Tip: As a general rule, you should spend 3 to 5 percent of your actual or expected annual market revenue. If your business is new, you may need to allocate extra capital to build your business profile.
Find out more about creating a marketing plan.
Feed your loyal customers
Your customers are the key to your success, so it is important to take care of them and encourage loyalty. Providing exceptional customer service can keep people coming back and set you apart from your competitors.
Strategies to build customer loyalty include:
Communicate regularly with customers through social media, blogs or email
Provide after-sales tracking
Keep your promise
Towards 'Extra Miles' and Offering Exceeding Expectations
Using comments and complaints as an opportunity to improve services
Listening to customers
Training of customer service staff and local sales process.
Review and review
It is important to regularly monitor and review your marketing activities to determine if they are achieving the desired results, such as increased sales. You should first review your marketing plan every three months to ensure that your activities are supporting your strategy. As your business grows, review your plans as you introduce new products or services, if new competitors enter the market, or if there are issues that affect your industry.
Monitoring activities can include reviewing your sales figures regularly (monthly) or tracking customer activity during advertising campaigns. You can also access and review free analytics tools to determine the effectiveness of your social media or website.
Find out more about digital marketing.
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