The success of any business lies in its effective marketing strategy. Even though, profit is the basic criteria in measuring a business’ success or growth, only through proper marketing you can realize the desired growth of your business.
For example, if you own an elegant clothing showroom, just by placing a fancy name-board or hanging out few attractive clothes, can you attract customers and increase your store’s sales? How do the customers know about your stocks and offers?
It is not even remotely possible to list all your store offers and details on the signboard. Then how do you reach your target audiences and convey your message? There comes the savior in the form of ‘marketing’. By distributing flyers, making audio announcements you can communicate your importance to the immediate audiences.
Not to confuse marketing with advertising. Yes, advertising is a part of marketing but that doesn’t end there. There are lot many factors that contributes to the magic word called ‘marketing’.
In this competitive world, marketing is the sole reason for the survival of all those successive brands and products. Along with hard work and perseverance, clever marketing plan contributes exceptionally for a business’ growth and existence.
What is marketing and its importance?
Marketing is the effective means of propagation between the company and its customers. It is how a company brands, promotes and sells its products or solutions to its customers by thoroughly comprehending their needs and necessities. Great Marketing “How to” Artilce
Any business is established with considering profit or money-making as the underlying stipulation. Though there might be various factors, which had motivated you to inaugurate the business, without the expected sales and turnover, it is impossible for you to withstand the market pressure and sustain.
A product can reach its target audience only if it has been designed understanding the pulse of the customers. Or else, it is not plausible to boost its sales just by advertising ostentatiously and offering attractively.
On the other hand, even after devising a product capturing people’s mind, if necessary promotions or advertisements are not carried-out, then it will not meet its purpose and remains a ‘failed mission’.
Hence an effective marketing is, focusing on all the vital parameters that strengthen business by promoting customer-company relationship and growth.
The requisites for successful marketing
The following elements are the basis for envisaging an absolute marketing plan.
Your business goals
Any successful business requires the thorough knowledge of its vision and mission.
- What are your business goals and marketing goals?
- How your product or solution will benefit the customers?
- How to sustain the competition?
- Your growth plans and how you visualize yourself in few years?
All these interrogations are necessary to consider, before plunging into the detailed marketing aspects. Only if you have a strong base, you can set-up a solid business. Hence, understand your requirements thoroughly and then concentrate on achieving it.
Market Analysis
Based on the benefits bestowed by your product, a thorough market analysis will help in identifying your target audiences. It is not plausible to instantly market your product to the entire world provided the huge population. Hence it is necessary to recognize those crucial audiences, who will not only benefit from your product but also instantly enhance your product’s market value and presence.
By following this approach you can save considerably on the cost for initial launch and marketing at the same time hitting the bullseye of customer-base. Read More About Business Management
Advertisements
Advertisement is the soul of marketing practice. It helps not only in glorifying the product but also in increasing its sales. In this technological era, there are lots of means to advertise a product.
- Televisions
- Radios
- Newspapers and magazines
- Social networking sites like Facebook, Google+
- Blogs
- E-mails
- Flyers
- Postal mails etc.
One or more means of careful advertising is required to attract the customers and widen your customer-base.
Promotions & Sales
Often, only appealing advertisements are not enough to enhance your product’s sales; lucrative promotional offers and sales, instill interest in audiences to buy or try your product. Offers like discount coupons, promotional codes, buy one get one free, referral discounts etc. will widen your product’s reach and awareness thereby boosting your business and profit.
Public relations
Customer relationship is certainly an essential element in promoting business and sales. Healthy public relations practices create positive impression about your company and business practices. Also public relations help to understand the impact of your product on the customers, gaps to fill, future enhancements etc. One or more of the following forms can promote your relationship with customers.
- Newsletters
- Meetings
- Promotional events
- Social networking pages/blogs
- Product Surveys
- Forums etc.
Thus marketing is the perfect blend of the above mentioned factors. Every entity is equally important in increasing your product’s market value thereby boosting your business and sales.
Types of marketing
The growth of technology has paved way for the incredible means of marketing. Out of the available ocean-like marketing types, the popular current trends are
- Call Center marketing
- E-mail marketing
- Content marketing
- Even marketing
- Mobile marketing
- Referral marketing
- Celebrity marketing etc.
Effective use of one or more of the above mentioned popular marketing types will lead to your company’s profit and expansion, wherein from an ordinary business concern you can expand into an extraordinary business group.