Welcome to our next Business Leadership series on Business Basics. Today we will be covering marketing for business. Most importantly, ask yourself one question when debating if marketing your business is vital. ” How will prospects find out about our business and what we offer?” You will simultaneously find out whether effective marketing is a critical factor in your business. People can only purchase goods based on awareness of their existence and their suitability of fulfilling their needs.
Effective marketing for business should do 5 things:
- Informs the target market
This should be done using the most prolific media for your target market. Once your market has been defined, you can then educate them about your business. Speak to that market and gain their desire to deal with you.
- Provide market intelligence
Gather information about your competitors and the latest trends to ensure you remain relevant. There are many ways to gather information via the internet and social media. It is also important to directly reach out to your customers via surveys or questionnaires.
- Keeps customers loyal
As we know it’s 10 times harder to get new customers than to keep an existing one. Build relationships by staying in touch with customers via email, social media and even telephone calls.
- Builds reputation
A good reputation is critical to growing your business. Being professional, with high-quality standards in all communication channels. Keeping your promises is very important in maintaining a solid reputation.
- Keep customers informed
As stated above, you can only sell to those who know about your business. Regular communication about innovations or specials or even user stories will keep communication flowing with your customers.
With the information age, it is critical to distinguish your business and its offering from the noise in the marketplace. A business must have a multifaceted marketing strategy. Segmented into a specific target audience and delivered clearly.