True Entrepreneurs Understand What Marketing Is!

What is Marketing? Many people believe marketing is the same as advertising, and yes it’s true advertising is in marketing but overall marketing encompasses a lot more then just advertising. Marketing is a whole process that is vital to any business having a chance to succeed in today’s competitive markets.

Entrepreneurs Understand Exactly What Marketing Is: The action or business of promoting and selling products or services, including market research and advertising.

Marketing entails everything from your research to your advertising and everything in between. Companies spend huge amounts of money hiring marketing firms trying to create that perfect marketing strategy. The problem with this is it cost a ton of money and if you are reading this article you are probably a small business owner looking to understand how to market online.

So lets break it down, regardless of the product you are trying to sell follow these steps and improve your overall results. (Which should mean more money for your business.)

Identifying Customer Needs- If you are in a company that sells a product already just think about what need does that product fill for your customer.

Example: If your company sells a weight loss pill then the customer need that your are trying to fill is weight loss.

Identify Your Target Market- This is so important do not skip this step and once you figure out your target market write it down. Think really hard about who wants to spend money on your product or services. (I’m sorry to tell you but, not everyone wants to spend MONEY on your product, I don’t care what you are selling.) The more specify your target market is the better conversions rates you will see.

Example: You wouldn’t market a steak diner to a vegetarian. If you did then you wouldn’t make a sell and you also lost some marketing dollars!

Making the items available at times and places that meet customers needs. Once you find out who your target market is you must find them at the exact time they want to buy your product.

Example: Lets say your selling golf clubs and your target market is people looking to buy a new putter. So you place ads in google so your ads pop up when someone types in the search box..I want to buy a new putter.

Provide Service and Follow Up. Build a relationship with your customers make them want to work with you or buy from you in the future. It is less expenses to keep existing customers then to recruit new ones.

Now if you are a true entrepreneur and really care about your business I encourage you to sit down and create a marketing plan. Write everything down on paper and keep coming back to it every month and really narrow your marketing efforts down. Many businesses fail and I can ensure you if you are trying to start a business online and you don’t have a marketing plan in writing you will fail.

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