You have started the business already right? 😁😁
You couldn’t even wait to read this article before you started!
Aside from eating noodles with egg and bean, the other terrible thing you can do is starting a business without having a proper marketing strategy. This simple error has resulted in the vast failure of businesses even before it began. Yes, read that again.
When starting an online business, as a matter of fact any business at all, one thing matters more than anything else which is how to get your first sale or signup and this is entirely dependent on your marketing.
You read that right.
Your marketing strategy completely determines how much money you’ll make and once you get the marketing right then everything else falls into place. Get it wrong or neglect it, you’ll spend years on your business without making a single sale or getting a single signup.
So before you even think of starting a business or well, if you already have one then PAUSE. In fact, ignore everything else for now. We need to get you a marketing strategy.
If there’s one step that will make or break the success of your online store it’s this one. You need to choose your marketing strategy. It’s not a hard choice, but it is one that you need to make thoughtfully and in advance.
So how do you choose your marketing strategy? Get a pen and paper now and write down the answer to these questions:
1. What are your business goals?
You need to be targeted and precise as possible. Your business goals has to be SMART.
- Let it be Specific — state clearly what you want to achieve
- Let it be Measurable — set tangible measures so you can measure your results
- Let it be Achievable — set objectives that are within your capacity and budget
- Let it be Relevant — set objectives that will help you improve particular aspects of your business
- Let it be Time-bound — set objectives you can achieve within the time you need them.
2. What are your marketing goals?
Now you know your business goal, you will need a marketing goal. Your business goal and your marketing goal are not the same. The marketing goal is like what you want to achieve from a particular advertising campaign. For example, selling more of a particular product to existing customers or recruiting prospects from a particular city in 30 days.
3. Who are your target market?
Understanding your target market is key to creating a successful marketing strategy. You need to know your market and also keep an eye on them so you are aware of any changes over time, so your strategy remains relevant and targeted.
4. Who are your target audience?
You need to also understand your target audience, i mean a detailed profile of who you are marketing to. Are they tall or short? are they middle-age or elderly folks? are they students or lawyers? A better understanding of your target audience will help you pin-point their exact locations and where and how to reach them fast.
5. Where can you locate your target market and audience the most?
Understanding your target market and audience will give you a better insight as to where they are located. Are they on Facebook? Are they on instagram? Are they searching google more? Are they following up with most popular influencers? All these are how you will know which marketing channels to focus on the most and achieve the best results. Facebook, instagram, google or influencers.
6. Who are your competitors?
This is a cheat code for newbies in business. To shorten all the steps listed above, you can just find your favorite competitor doing exactly what you are doing and research the hell out of them. Know their business in and out even their flaws and then just then, you can create a greater marketing strategy than theirs.
7. How can you retain your customers?
Lastly, all steps listed above will work but the question now is, how do you retain them and make them become constant customers. This is where you will have to craft a method to give greater service, attend to customers issues faster, reward loyalty, follow up and always keep in touch.
Now, let me give you time to answer all these questions . . ..
(10 mins later)
Oh good, you are done.
Now what’s NEXT?
DRAW OUT A PLAN NOW AND TAKE ACTION ON THEM!
If you need my help in drawing out a perfect business marketing strategy plan for you, of course i can do that at a rate of $150(₦60, 500)
You need one to succeed, do not neglect it.
Talk to you soon,
Daniel Iloh.