Are You Marketing Your Business In The Right Way?

Nine times out of ten, people start a business because they are capable, competent, or even brilliant at providing something that people need. They know their industry and they are able to supply what people want.

But how to get that offer in front of people is where things get tricky. How do you get your offer in front of the right people? Or in other words, how do you promote your business?

If you're starting a small business, a major factor in its success lies in how well you market it. Marketing attracts prospects, prospects become buyers, and buyers provide profit. But marketing is more than just putting your business name out into the world. One of the smartest things a small business owner can do is take the time to develop a marketing plan. A marketing plan clearly outlines how you will reach your ideal customers by effectively implementing your marketing strategy. 

Another reason why you need a good business marketing strategy is to create “top of mind awareness” (TOMA). Staying top-of-mind means that you rank highly in the minds of consumers and it helps you attract leads and retain loyal customers. Top of mind awareness is defined as the first brand name that comes to someone’s mind when asked about a specific industry. Being top of mind is a huge deal for a brand. It means that consumers not only recall your brand and recognize it, but they think of it first over your competitors.

In order to become recognized, you must build awareness of what your brand represents, what your values are and how you serve customers. Recognition not only comes from visual marketing efforts with logos and advertising but also outreach, customer service and a reputation for quality. The ideal is to achieve brand recall in association with particular prompts or stimuli. For example, as soon as someone mentions the word fast food, a big yellow ‘M’ comes to mind immediately, which is McDonalds logo. But McDonalds is also synonymous with the nonsense musical phrase “ba-da-ba-ba-bah”. These aspects have become unique to the brand because of the way they have been marketed to the customers, such that, now you don’t even have to mention the brand name to understand who is being talked about.

This is the power of marketing!

In this article we look at some of the most essential and effective ways of marketing your business and creating top of mind awareness for the customers.

Market Research

Market research is a key part of developing your market strategy. It is about collecting information that provides an insight into your customers' thinking, buying patterns, and location. In addition, market research can also assist you to undertake an initial sales forecast, monitor market trends and keep an eye on what your competition is doing. It’s important to clearly define your objectives in order to achieve useful results from your research. Clearly defined objectives will help identify the best methods to conduct your research.

You will also need to determine the time frame and budget you can allocate to undertake the research. You might consider using a professional market research company to assist you.

Marketing Planning

Marketing is about finding your ideal customer and sharing your message: How you'll make their lives better. To do that, you need to research and identify your target market, decide how your business will stand out, and develop a plan. It is important to define what you do differently and be able to convey that to potential customers. Commonly, this reflects your special knowledge or skills. Your Unique Selling Point (USP) may be having a new or unique offering or providing exceptional service.

Marketing Materials

Be prepared with custom resources you can share both online and in person. You should always have something with you that represents your company's mission and image that you can hand to a lead. A well-articulated brand emotionally connects with your target customers and conveys who you are, what you stand for and what you can deliver.

Create unique business cards and brochures. Build a website, whether a simple landing page or a multi-functional online experience. 

Set Goals and Budgets

Marketing goals will help you to define what you want to achieve through your marketing activities. Your goals should be SMART: specific, measurable, attainable, relevant and time-based.

You will also need to allocate a budget to your marketing activities. Your marketing budget will need to include elements such as:

• website development and maintenance
• search engine optimisation strategy
• design of branding
• printing of promotional material (business cards, brochures, signage, etc)
• creative marketing

Networking

Even if your business is primarily online, consider adding networking to your marketing tactics. Remember, success in business is about relationships, and networking allows you to make the types of relationships that lead to sales, referrals, and other important business growth. Networking requires a time commitment and it doesn’t provide instant gratification, but a strong network is one of the greatest assets any business person can have.

Nurture Loyal Customers

Your customers are the key to your success so it is important to look after them and encourage loyalty. Providing exceptional customer service can keep people coming back and set you apart from your competitors. It is a lot less expensive to keep a customer than it is to get a new one. That’s why establishing strong relationships with your customer base is crucial. One of the ways you can do that is by keeping in touch with people through email marketing.

Other methods may include:

• communicating regularly with customers through social media, blogs or e-news
• providing after-sale follow up
• delivering on your promises
• going the ‘extra mile’ and providing benefits that exceed initial expectations
• using feedback and complaints as an opportunity to improve services
• listening to customers
• training staff in customer service and basic sales processes.

Social Media Marketing

A reputable social media presence is no longer optional for small businesses. Most consumers expect to be able to follow a company's progress, view updates, and make connections with the community. Social media can help define your image, promote products, gain clientele, and build relationships. But like all other forms of marketing, you need to have a solid idea of who your audience is, where to find them, and how to talk to them.

Conclusion

There are a plethora of options when it comes to promoting your business, no matter your budget. Implementing the strategies in this post is sure to pay off, especially if you regularly review and revise your strategy. You don’t need to be a rocket scientist to be a good marketer. But neither is there a silver bullet or one-size-fits-all solution. Every business is different. However, the process of building a plan, sticking to it and applying the time and resources it needs is the common secret to success in marketing. Being smart with marketing ensures the success of your business by attracting more customers, and keeping them coming back.