Top 5 marketing considerations for small to medium businesses
Starting, running and maintaining a business can be very challenging, especially if you’re just starting out. Do you have the next big thing that will surely sell? Awesome. But do you have a plan on HOW to sell your product? With so many channels and so many choices out there, how do you know which ones will work and which ones wont? Here are 5 tips that will help any start up business.
1. Focus on solutions and not excuses.
One quotation that I am very fond of is “if
you’re not part of the solution, you’re part of the problem”. Everyone wants to
be an entrepreneur but majority of us never do. We’re burdened with fear. Fear
of failing, fear of losing money, fear of disappointing loved ones and fear of
humiliation. Those are considerable reasons, but if you have a plan and are
willing to invest time, money and follow a well structured procedure, success
is inevitable. Instead of making excuses to appease your fears, try to create
solutions for them. Once you’ve got that down, you’re ready for the second
step, how to market your product or idea.
2. Less is more.
We get it, you have a great business idea
and you can’t wait to get it off the ground. This is a very exciting part of an
entrepreneur’s life. Just make sure you don’t get overly excited and start to make
your product or idea too complicated. A lot of entrepreneurs start with a simple
idea that they know people will love, get too excited and jack up their product.
They’re then left with an expensive, over complicated product that no one will
buy. Keep in mind, stick with a simple
product or service, focus on pleasing your customers and surpass their expectations.
3. Market, Market, Market.
With so many sales vehicles out there, choosing the right one can be a major pain – both for you and your wallet. It’s key to have a marketing strategy before you start spending on things that won’t help sell your product. One very powerful strategy you can use is online marketing. The internet surpassed television in 2017. That means more people are tuned in to the net than to their tv’s. Whether it’s shopping online, educational purposes, selling products, keeping up with the news or simply chatting with your friends. People are addicted to the net. That’s why so many people want to own their own website. That in my opinion is a great idea. There are several free platforms that can help your business soar, and many marketing companies that will make sure you’re on the right path. One company that has proven to be efficient, sufficient and trustworthy is inifinitech solutions ph. They’re easy to talk to, affordable but maintain optimum quality in their services. Check them out and see what they can offer.
The first part of marketing is being able to identify your target market. Once you have identified that, conduct a market research on how you can get your brand across to your target market. There are many ways in doing this. A very powerful tool is social media. Need help on this? Click here for a free consultation about your online marketing need. Also, reach out to professionals and experts for their advice, and don’t forget to consult those closest to you. Your family and friends want you to succeed as well, and seeing their point of view may shed light to your plan. Entrepreneurs are very passionate about what their selling, and sometimes they let their passion influence their business decisions. That’s when we need someone to remind us of the purpose of our business. Don’t let emotions take over rational decisions in business.
5. Measure and optimize
Once your business starts, it’s very important
to factor in every expense both in your personal life and in business. Add up
everything, measure the expenses and the income. When I say everything, I mean
everything. From your rent, electricity, water, payroll, manufacturing costs,
to your personal expenses like food, gas, mortgage etc. If you want your
business to succeed for the long run, you have to balance out your personal
expenses and compare it with how well your business is doing. Many businesses will
fail. If this happens to you, are you ready for it? It’s advisable to always
have a back up plan. Compare your needs to your wants and make adjustments. If
you want your business to succeed, you may want to cut your leisurely expenses.
Get out of your comfort zone for a while, up until your business is stable and your
ROI has been reached. If you have a business idea and it’s about to take off, don’t
quit your day job just yet. Running a business is a process that may take time.
You will need other sources of income to live off of, just incase your business
idea goes south.