August 16, 2017
What are the major resources for your market strategies? How does a confident and successful entrepreneur differ from one who has tried several times and has failed? The simple answer is that the confident guy earns more money than the guy who has failed. The longer answer is slightly more complicated. It is connected with the confidence to take a chance and a carefully prepared marketing strategy.
Good Market Strategy Essential
So let’s say you have ambition and have no desire to fail – even though you know it is possible. Even though you know that success is not definite. How do you get a business running effectively, and do so in a way that you do not have to give it up through failure? The answer is that you should have a good market strategy designed to make you money. One that delegates duties where necessary and makes sure that everybody involved has a part to play and plays it.
The position of your business is an important factor in the major resources that you can use to help your marketing strategies to succeed. Is it an existing business trying to create a market for a new product or service? Is it a new company trying to break into an existing market? Perhaps it is a combination of the two?
Importance of Social Media in Online Marketing
One of the major resources available to you is social media. More people now use Smartphones and other portable devices to carry out service or product searches online. Social media owns mobile technology, and if you have a website it must look good on small screens. Most modern websites are responsive to multiple screen sizes, and so must yours be.
Increasing numbers of businesses are using Facebook business pages, LinkedIn, Google+ and blogs to present their businesses to the public. They use Twitter and Facebook to build a list of followers and send messages to millions of potential clients or customers that lead them to their websites. The days of manually building online lists by offering gifts to join are on their way out. E-mail marketing is not what it used to be. Incessant spamming is allowing Twitter to take over.
YouTube enables you to make a video and publish it to the world free of charge. Simply include a link to your video on your tweet, Facebook post or on another form of social media you use. Pinterest allows you to create a link that will remain there forever.
Use keyword to divert users to your pins that are linked to your website or Facebook page – or even your LinkedIn account. An important factor is not to copy all the same information to each social site. Rewrite your messages so they differ between each application.
Market Strategies Should Target the Client
The shotgun approach to using social media does not always work. You must have a market strategy that is directed to the people you want to attract. Here are some aspects of a market strategy that you should consider – in fact, must consider!
Who Are You Targeting: Who is your targeted customer? Who will want your service or product? Your product may well be a service, so there is little difference between the two terms. If your service is limited, such as repairing damaged bodywork on vehicles, then reflect that in your promotion. Do not promote ‘auto repair’ but focus directly on your service: ‘auto bodywork repair’.
Do You Have a USP: A unique selling proposition is what sets you apart from your competitors. Think over what you are selling. Forget the product or service name. Your clients want to achieve something with what they purchase. You are selling what they want to achieve – you are selling a solution to their problems.
Find Their Problems: Work on that and you will achieve more success than just saying “This is my product – buy it!” Devise a product that solves their problem! How do you find their problems? Surf the forums. Forums are excellent resources to give you ideas on new products – or even used for your existing products. Google ‘xxxx forum’ where xxxx is your market. So, something like ‘vegetable blight forum’ will give you forums where people have a problem with blight on vegetables. Find some issues and decide if you can devise a product to help them. Use any topic you like – there are forums for just about anything.
Measure Success: If you use advertising, online or offline, then measure the success of each advert. If you use pay-per-click (PPC) such as Google Adwords and Facebook advertising, then measure the success of each individual advert or even each keyword.! A keyword that makes you $100 from one advert is worth more than several that give you $100 combined.
Attack Your Competition: You must learn who your competitors are and how you can provide what they cannot. Research your market or simply run a Google search, which is a good resource to get that information. Use keywords relating to your product and use them in Google’s search box. You can narrow your search down to country, state or even town. Google’s results will then provide you good information about your genuine competitors.
Check out these competitors and figure what you can provide that they cannot. Take the top few and put them prominently on your Facebook page and the Home Page of your website. Right away, potential clients and customers will see what you can offer that others may not.
Offer USPs: Maybe you have free delivery to offer; maybe a cost advantage or maybe you collect faulty products without quibbling over it. Make all of that clear and you might get the jump on your competition. Many people are simply buying a product – the small differences don’t matter. What matters to them may be getting free next-day delivery. Perhaps it’s having their complaints listened to properly. Who knows – so ask them! A simple question is one of the most effective major resources you have at your disposal.
When seeking major resources for your market strategies keep it simple. Think about what you are selling. You are selling a solution to a problem – not a product or a service. Present your advertising that way and you will be using one of the major resources for your marketing strategies: your brain!
Major Resources for Your Marketing Strategies: Summary
To summarize, there are many resources for your market strategies available to you. They range from various marketing data and advertising tools to simple brain power. Never lose sight of what your customers or clients are looking for. They have a problem they want solved, otherwise they wouldn’t have a need to buy.
That problem might be a special gift for a friend or a relative. It might be that their home or even their car doesn’t look like they want it. It could be that they need something to jazz up their own business’ performance. Your marketing strategy should address these problems, and you have many resources available to tell them you can help. Targeting the client: These are the objectives of the major resources for your market strategies.
Sonal Patil is a research analyst at Market.Biz. She is keen to handle and use market data for developing marketing strategies. Apart from this she loves to travel and explore distinct places. Besides all this you will find me all time reading, Youtubing and learning new things.