Those who run a business are constantly looking for ways to attract customers about goods and/or services offered. Unfortunately, business owners often times run into obstacles on how to effectively market the business. This often occurs because they’re focusing on tactics versus strategy.
Such obstacles may include:
The excitement of getting started can blind a business owner from seeing mistakes that are being made. A couple examples of this is when a business owner creates a website before they know who their target audience is or they invest in social media advertisements without understanding their competition or stance in the market.
Remember a successful marketing strategy will create goals and objectives along with clearly establishing a target audience.
To help business owners there are 5 P’s that are the key to successfully establishing an effective marketing strategy. They are as follow:
Once a strategy is established then business owners can dive into the “fun stuff”... the tactics. But not before.
So in conclusion, business owners MUST develop a marketing strategy for finding clients and customers for your business. This does not have to be a complicated process. Just a thoughtful one. And it is not a marketing plan nor is it advertising. Think about what you want to achieve and your marketing efforts. How will it benefit others and how are you different from your competitors.
" Felicia has a vivacious spirit and an unwavering dedication to helping women in business to understand and achieve their full potential. She also possesses a keen business mind, understanding the value she brings to the table and knowing its worth. She uses this value to strengthen others, ensuring that "networking" isn't just a buzz-word. It is a sustainable business endeavor. "
~ Michael Sherlock (Transformational Leader | Shock Your Potential Podcast Host | Speaker)