A solid marketing strategy is essential in the growth of every small business.
Marketing basically involves reaching out to your prospective clients with information regarding your product in a manner that is appealing enough for them to decide to try it. Here are 5 tips that will help you create a winning marketing strategy for your business.
1.Know Your Product
Define your product or service in simple terms that are easy to understand. Convince the audience, in the shortest time possible, that this is something they need to try out. Make your adverts conspicuous and striking so that they can stand out above the rest and grab attention.
2.Know Your Target Market
Every product caters for a specific group of people. Define the specific demographics of your ideal buyer. This will help you direct your marketing strategy in the right direction. Determine the forms of media mostly used by your target market and advertise there.
3.Know your Competition
It helps to be aware of who you’re up against. Who offers similar products as your small business? What is their market share? Examine their products to see what they bring in to the market. Ensure that your product is better or unique in a way that gives you a competitive edge.
4.Know Your Marketing Channels
There are several marketing channels available such as social media, TV, Radio, print media, branding and so on. Determine the demographics that each of these groups appeal to. This will help you spend your money in a channel that will definitely bring the desired results.
5.Know Your Pricing Strategy
Being relatively new in the market, your small business must have a competitive pricing strategy in order to get a piece of the market share pie. A slightly lower price than your competitors is likely to give you a good kick-start, allowing new clients to test your product.
Using these guidelines, create a clear marketing strategy and stick to it. Breaking into the market is no easy feat, but with consistent marketing you’ll surely win clients. Work on retaining your customer base even as you seek new ones, and your business will be on a definite growth path.
Get more career and business advice from Sylvia via her blog sylviabrowder.com as well as nawomenrise.com!