Without Marketing, Even the Best Product in the World Won’t Sell
When building a successful company, you need a quality product or service that is in demand or that you can create a demand for. A good product alone does not lead to success. You can have a good product, but if it’s for the wrong target demographic it will fail. You can also have a good product for the correct market, but if no one knows you exist you will still fail. Or, you could be on your way to success and find that the market has changed overnight and you were not prepared to adapt. Staying focused on marketing at every stage of your business is vital to success. Here are some Do’s and Don’ts to help you stay on top:
Only produce relevant content, content is still the most vital piece of marketing, but it must be relevant. It’s great to drive traffic, but if it’s not the right traffic, then you have wasted your time. Content is still king when it comes to driving traffic, but make sure it’s targeted to you demographic. If you are selling Bookkeeping services, don’t write a blog on preparing taxes. Who will read that? Your competitors or up and coming accountants, speak to your demographic and on relevant topics to their business.
Pick the correct target audience, you may have a product or service that can solve many problems for many different groups, but you can’t reach everyone without a huge budget and messaging that isn’t global. Some potential customers will be quicker to buy than others. So before getting too far into the process, research your market and pick your niche.
Decide the best way to reach your potential market. Make sure they will come before you build it! The quote “if you build it, they will come” doesn’t always apply especially in business, so make sure to do your market research, ensuring you have a good product with a potential market to deliver to.
White papers, e-books, and infographics, are great ways of engaging people besides just blogging. These avenues also generate more qualified leads typically because people take the time to read through them.
Stay aware, be ready to adapt, even when your business is growing by leaps and bounds. When and if you do make changes, be prepared to get the word out regarding new offerings.
Don’t just believe the experts and the gurus in the industry. Do your research. Ask your prospects what they would buy and understand their needs.
Don’t rely on only one marketing source. Try different avenues of reaching your prospects and see what works the best, outsource the marketing pieces that you simply can’t keep up with like the social media management or hire a content curator that can write the weekly articles you will need so you can focus on the other driving forces of your business.
Never believe your own press when you’ve achieved some success, we tend to get complacent, be prepared for change at any given moment and adapt your marketing strategy.
At Blue Ocean Principles we can clearly define your vision and achieve it through strategic planning, implementing the right business model for your company. Whether you need rebranding, new market research, ecosystem assessment, or are taking a new offering to market, BOP can assist in each phase of your initiatives. We also offer marketing management programs for those who want to outsource the marketing function. Contact Us for a free consultation.