BG251 Marketing for Success
Taxco Business Guide
Marketing your Business
The objective of this business guide is to summarise important considerations regarding the marketing of your business. The old adage of “a business with no sign, is a sign of no business” is often so true.
You will need to allocate funds for your marketing.
There are plenty of ways to spread the word that you're in business. However, all of these methods take planning. You may have the best product or service in the world, but if you don't market it, no one will know about it.
Start with Market Research
If you plan to sell to a particular market, it's important to know all about that market. Research means finding out what customers want, don't want, and why. Surveys, questionnaires, and focus groups are a few ways to find out the needs and desires of your potential customers. You may also be able to tell a lot about your customers by observing them and taking note of who they are and what they're interested in when they're in your store. Get some basic information when they call for your services or browse your website.
When customers make a purchase or any kind of inquiry, you can ask them where they heard about your business.
- Who are the potential buyers/clients?
- Why will they buy/use the product/service?
- How much of it will they buy?/How frequently will they use the service?
- How much will they pay?
- Where can we find them?
- How can we reach them?
- Who else may want to buy/use it?
- Is this product/service seasonal?
Determine the best route to market your products by considering one or more of the following options:
- The Internet
- Multi-level marketing/networking
Just as children's games say clearly on the box what ages the game is geared toward, nearly every product or service has some demographic group that will be most interested in spending money to own it, use it, or rent it.
Consider who and how old your target market is.
- Young adults
Taking tbe Website Plunge
Not all websites are the same, nor are they intended to be. You may need your site for e-commerce, actually making sales online. Or you may use it as another marketing tool, such as an online brochure, to promote your business.
In today's fast-paced world, keeping printed material up-to-date and in the hands of your potential customers can be slow and costly. Having a website has become mandatory for virtually all businesses. It has become the cultural norm. So, you will want to put your best foot forward with your site, making it as attractive and useful as possible.
Have a clear corporate identity.
This can be achieved by the following:
- Usage of the brand name/logo
- Business stationery
- Signage and banners
- Store/business frontage
- Décor, fixtures and fittings (interior)
- Corporate clothing
- Vehicle signage
- Advertising and promotional materials
- Branded packaging
- Merchandising aids
- Promotional gifts
Co-ordination of your activities and resources
The marketing activities that will help you achieve your goals and that will form the backbone of your marketing drive are:
- Personal selling
- Network marketing
- Sales promotions
- Public relations
Reach your Market !!!
Once you have done your market research and you know who and where your client is, it is now time to get out there and reach them.
Consider the following:
- Direct mail
- Email marketing
- Magazines and newspapers
- Web site
- Bill boards
- Promotional activities
- Sports sponsorships
- School sponsorships
- In-store promotions
- Exhibitions/trade shows
- Social networking
Finally before your ad campaign goes out check the following:
1. Logo/brand name
• Do your logo and/or brand name appear clearly and correctly in the advertisement?
• Is the size of the logo in the correct proportion to the total advert?
• Are the logo colours correct?
2. Business details
• Have you included the relevant business particulars such as the business physical and/or postal address, telephone number, web site address etc?
• Is the content of the advertisement absolutely correct?
• Have you checked the advertisement for grammar and spelling errors and corrected these before signing off on the advert?
5. Target market
• Have you checked that what you are offering in your advert meets the needs of the target market?
• Have you have selected and advertised sufficient products to ensure the target market wants to “grab” the offering, yet have taken care not to
overload the advert?
6. Five key parts
• Have you addressed the five key parts of an advertisement?
• Have you attracted the target audience’s attention by boldly telling them what you are offering?
• Are you offering your target market a good reason to take notice?
• Have you given them a reason/s for why they should believe in you and/or the product?
• Have you told them what action they need to take in order to take advantage of the offer?
• Have you provided them with the information they need in order to respond to the advert or take advantage of the advertised offering?
7. Choice of media
• Have you made sure that the media you are thinking of publishing in will reach your target market?
How can Taxco help?
Marketing your business and products can be very costly. Why not get an independent opinion. We at Taxco will gladly evaluate your marketing plan, marketing strategy, test your products, conduct market research, evaluate results and assist you in compiling and designing them or just give you a plain honest answer of what the public or your client’s think about your products, your company image and/or branding.
For honest answers, contact us now to discuss how we can assist you with the marketing of your business and/or products.
This Guide is subject to the Terms and Conditions of Use of Taxco Services and their Website.