Marketing is everything you do to promote your business, from the moment you thought of it to the point at which potential customers buy your product or request your service and begin to patronize you on a regular basis. The meaning is clear. Marketing includes;
- The name of your business
- The nature of your product or service
- The method of manufacture or servicing
- The color, size, and shape of your product
- The packaging
- The location of your business
- Advertising, and public relations
- Sales training
- Sales presentation
- Telephone inquiries
- Growth plan, and
I agree with you at this point that marketing is a complex process. Without any waste of time, I am going to simplify the complexities and show you exactly how you can use marketing to generate maximum profit from small investments.
Every type of entrepreneurial enterprise requires marketing. There is no exception. It is not possible to succeed without marketing. So, for the benefit of your brand, follow me on Instagram, and turn on your notification to get notified when I share any tips.
1. What Is Your Marketing Process?
I’m happy to bring to your notice that your size is an ally when it comes to marketing. If you’re a small company, a new venture, or a single individual, you can utilize my tactics to the fullest.
It may be that you will require no advertising at all, but you will require marketing. It may be that word of mouth is so favorable, and spreads so rapidly, that your venture can reap a fortune just because of it. If so, you can be sure that the word of mouth was motivated by effective marketing in the first place.
In fact, a word-of-mouth campaign is part of marketing, and so are business cards, stationeries, the clothes you wear, your business’s location, etc. is important in marketing.
Every component that helps you sell what you are selling is part of the marketing process. No detail is too insignificant to be included because the faster you realize that, the better your marketing will be. And the better your marketing is, the more money you’ll make. I.e, the more profits you’ll make.
2. What Kind Of Product Are You Marketing?
At this point, I’m assuming you understand that you have to offer a quality product or service to be successful. Even the best marketing in the world won’t motivate a customer to purchase a poor product or service more than once.
In fact, brilliant marketing can speed the demise of an inferior offering since people will learn of the shoddiness that much quicker. So, do everything in your power to ensure the quality of whatever it is you’ll be selling and once you’ve got the quality, you’ll be ready for marketing.
It is also mandatory for success that you have adequate capitalization – that is, money. Notice I didn’t say that you need a lot of money. Sufficient capitalization to engage in marketing will by itself be enough. That means you’ll need enough cash or cash reserves to promote your business aggressively for at least 3 months, and ideally for a full year. It might take ₦50,000, it might take ₦50,000,000, that depends on your business goals.
3. Marketing Strategy.
The more aware of marketing you are, the more attention you’ll pay to it and the increased attention will result in better marketing of your offerings. A great deal of marketing isn’t merely poorly executed these days – it’s not executed at all!
I’d venture a bold guess that fewer than 10% of the new-and small-business people in Nigeria have never explored all of the marketing methods available to them. These methods include;
- Personal letters
- Telephone marketing
- Circulars and brochures
- Signs on Bulletin boards
- Classified ads
- Outdoor signs
- Newspaper and magazine ad,
- Television and billboards
- Direct mail.
Then advertising specialties such as imprinted ball-point pens, Samples, Seminars, and demonstrations, Sponsoring events, exhibiting at trade shows, and using searchlights, T-shirt ads, and public relations.
Marketing demands that you scrutinize every single one of these marketing methods and more, then use the combination that seems best for your business. Tell me in the comment section below, which one of these marketing methods will you use? Or which one are you currently using?
4. Market Intelligently
In the marketing of any product, problems are certain to arise. Solve these problems and continue to look for new problems to solve. You won’t have the luxury of neglecting the smaller opportunities or overlooking certain problems. You’ve got to go all out.
Going all out is the foundation of successful marketing. By going all out, you’ll completely reverse the problem(s) to the point that you’ll be known for excellent craftsmanship, attention to detail, and nearly zero defects.
By marketing intelligently, I mean that you should focus on the core idea of your business. All your marketing must be an extension of the ideas. NOTE: It is not enough to have a better idea; you must also have a better argument and a focused strategy.
Today, many large and supposedly sophisticated companies go to one expert for a trademark, another expert for an advertising program yet another expert for direct-mail planning, and possibly one more for location selection. This is not only costly, but it’s also nonsense. Nine out of ten of these experts are pulling in a different direction.
WHAT MUST BE DONE?
You’ll need to have all the marketing pros pull in a common direction – a pre-agreed, long-term, carefully selected direction. When this is done, a synergistic effect is automatically created and five types of marketing tactics to do the work often.
The pre-agreed direction will always be clear if you encapsulate your thoughts in a core concept that can be expressed in a maximum of seven words. That’s right, a maximum of seven.
It is a pretty simple idea of centering all your marketing on a core concept. You can be sure that when you begin to market your offering that way, you’ll be a member of an enlightened minority on your way to marketing success – a prerequisite for financial success.
The best way to get your business to the point you desire today is to take action immediately. Pick up your jotter and define the sole-concept of your business. If you need guidance, Chat with me via WhatsApp.