1. To build a successful business your number one priority should be to understand who your target audience is. While considering this, also think about how you would like your brand perceived in the marketplace. The terms effective targeting and brand identity are paramount to your business and is the answer to “why” customers will buy from your business and not your competitors. Consistency in messaging from your brand to your target customers will build your brands equity and sustain your business growth and is one of the reasons marketing matters.
Since customers pay the bills, providing an adequate amount of time to send the right message at the right time in the right context to the right prospect, sales and more sales will be the result.
Many companies have great products or services but lose sight that innovation can be discretionary without effective and appropriate targeting. To continually evolve your brand with profitable sales you must have the right product mix. After you have identified your target audience and your brands identity, the next step is to learn how to attract customers to your business. Thirdly is how to keep customers buying from you. The simple way to support this process is to put yourself in the shoes of your ideal customers. How often will they buy from you? What will they buy from you? When will they buy from you? Why will they buy from you? The answers to these questions will put you in the right direction to plan for the growth of your business.
2. Once you have identified the above principles the next step would be to complete a comprehensive marketing plan. The targeted customer information is the start and the specific marketing strategies, competitive landscape and SWOT analysis (Strengths, Weaknesses, Opportunities and Threats) will be the finish. Perspective hurdles that could possibly impede the success of your business should be discovered during the marketing plan development process.
3. Strategic planning is an instrumental component of your business process and should not be overlooked. The benefits of this planning process will be to streamline business efficiency, improve cohesiveness and minimize risk. By having a realistic view of the potential your company has in the marketplace, you can avoid surprises. If you develop marketing objectives that are aligned with business goals and sales efforts you can continue to expand your business for many years. Remember that the right marketing plan should take into account your overall business plan objectives to avoid pitfalls.