Before starting a small business first understand the need of your target market and then try to provide a suitable solution.
These 7 steps are to be used by entrepreneurs who want to start a new venture or create a marketing plan for an existing successful set up. Most people talk about the greatness of their products or services. Instead you should regularly educate the target market and build a relationship of trust and credibility.
“Think marketing” is the mindset to be developed for your products and services. You have to market constantly. Do not fall for stop and go marketing. Some small businessmen start marketing during down seasons only. Having a successful marketing plan is essential for the venture. Profits and growth are directly proportional to effective marketing. If you are thinking where to start this 7 step guide will help you to understand the market and business.
Let’s answer the following questions:
1. Who--- Who is your target market? Who is your ideal client? What is the research to be done for finding out more about the target market?
2. What--- What does your ideal client want? What does your product and services do for them? What problems of your customer are solved by your product? What solutions does your client require? What is your USP that makes you unique? What are industry trends? What will make your client react? What are you selling? (For e.g.: are you selling eyeglasses or vision?) What is your brand of product and services? What would be the price?
3. Where--- Where is your ideal client? Geographically where are they located? Where will you position yourself for their easy reach? Where will they get you marketing messages from? Will you go through personal conversations, hold seminars or write a blog, newsletter or article?
4. When--- How frequent will you send out your marketing messages? When are your clients most likely to purchase?
5. Why--- Why are you in business? Why will customers come to you? Why should they not go to your competitors and choose your products?
6. How--- How does your customer purchase? How will you reach out to potential clienteles? How are you going to communicate your marketing strategies? How will you provide information to your customers to make their buying decision?
7. Marketing mindset--- Try to master a marketing mindset and your small business will move towards profits and success.