Nobody needs to tell you that wearing more than one hat is a bad idea. You've worked as a janitor, a CEO, an accountant, and a secretary.
Even if you've reached the point where you can hire employees or experts to manage your company's marketing, you still need to understand some fundamental marketing concepts. Whether you're just starting out and wearing every hat, or you're leading a multi-person team, here are the seven marketing basics that every entrepreneur should know.
While there is a lot more to marketing, these fundamentals will help you get started and progress. When you hit a sales snag, returning to these fundamentals can get you back on track.
Who Is Your Target Audience?
This is possibly one of the most important marketing concepts that every entrepreneur should understand.
You are aware that you have a good product or service. However, your target audience must be aware of it as well, or you will not make any sales.
So, before you waste another second on a flashy marketing campaign, make sure you know who you're talking to.
Make this step as specific as possible by imagining an actual person who represents your target audience.
- What is this person concerned about?
- What are their annoyances?
- What do they value?
- How much money do they have?
- How do they spend their money?
- What solution would be so good that they would be willing to part with their money?
- You should be speaking to this person about these issues in all of your marketing content. Recognize their concerns and then assuage them by presenting your expertise, product, or service as the solution.
Be Reliable
Avoid gimmicks and try to be as transparent as possible.
Remember how you spent all that time above determining who your target audience is? After that, you're probably very concerned about your customers. Tell them!
Answer their questions, demonstrate your humanity, tell stories in your marketing, and be genuine. Create a culture of transparency from the start, and your audience will love you for it.
Share Something for Free Confession Time How many Costco samples have you purchased? Costco knows exactly what it's doing by showcasing delicious products and allowing customers to try them for free.
Try out your product or service and let your customers play around with it.
Create a free, downloadable guide that solves a problem in your field of expertise.
Offer a free webinar or workshop.
Give a free consultation.
Give away an item related to your service or product.
Solve a problem by offering a free video or email course.
Make a list of extremely useful resources that will assist your ideal customer in getting where they want to go.
Make a Beneficial Website
You understand that in this day and age, your company requires a website. But don't just throw something up and call it a day. On your website, your customer should have the following experiences:
Their attention should be immediately piqued.
They should immediately recognise that you are capable of resolving their issue.
It should be simple to get to the point of problem-solving (your product or service).
Make your website a useful experience for your customers from start to finish by following these guidelines:
Make it simple for your customer to navigate.
Make your message clear right away — and your message should always be about how you can help your target audience.
Include high-quality content that inspires people to take action. Hire a professional if this is not your area of expertise.
Include an opt-in offer (remember our freebies from the previous step?).
Add some testimonials.
Include your location and phone number at the top of each page, as well as a contact page with your email address.
Prove Your Worth
Your word can only take you so far. After all, your customer is probably unfamiliar with you. As a result, you'll need to demonstrate that you can actually do what you say you can.
Do the same with testimonials. If you're just starting out and don't have any testimonials, offer to let people try your product for free in exchange for a testimonial if they like it.
Quote satisfied customers on your website and on social media. Video testimonials are also powerful.
Engage in Social Activities
Nowadays, nearly every business requires a social media presence. However, you are unlikely to need to be present on every platform.
Return to the work you did when you were identifying your ideal customer. Where do they spend their time online? That's where you need to be. Some businesses will require a YouTube channel, while others will suffice with Facebook and Instagram. Some will need to dominate Twitter, while others will be able to avoid it entirely.
Once you know who your ideal customer is, what their needs are, and where they spend their time online, you can decide where to direct your social media efforts.
But, whatever platforms you choose, make a commitment. Provide consistent, high-quality content that benefits your target audience and invites them to participate.
Make a Real-Life Community
As you embark on your entrepreneurial journey, you will require assistance. Find a group of people who will support you, mentor you, talk you out of bad decisions, and buy you a drink when you make one.
Join your local chamber of commerce, clubs, or volunteer organisations to find this. Solicit the services of a mentor.
You can also find a group of like-minded entrepreneurs in a coworking space. Consider renting a desk or office space at your local coworking space. Not only will you find yourself more focused and productive in that space, but you'll also find likeminded people to befriend — people who are also focused on what every entrepreneur needs to know about marketing.
