Marketing your business or your services is just as important as doing the actual work itself. It’s effort that you put into not only earning more business, but also providing a better work product.
- The Product (or service) you offer to help them: By “product” we mean the thing you actually sell and provide. That could be something tangible like a new app, furniture, pottery, and so on. But it can also mean the service you provide, so really your work product. Either way, it’s what you provide in exchange for money.
For example, sandwiches.
- The Person at the center of our marketing, which is your customer. Who do you have in mind that would be the best fit to buy your product or service? Everything you or your business does happens because of this person. Knowing this audience’s needs, wants, problems, and preferences will go a long way in not only earning new customers, but in maintaining existing ones.
If you own a sandwich shop, an example of your ideal customer/person could be a male, between the ages of 21-45 years old, who works a professional job near your shop, and doesn’t bring lunch to work.
- How you set a Price: You have to know what the market will allow you to charge for your product or service. Factors such as demand, shifting demographics, unmet needs, and competition also play a role as to how much you can charge for your product or service. Are you priced too high, too low, or just right? How much are your customers willing to pay for your product? For example, how much will you need to charge for your sandwiches to cover the cost and business expenses? How much are your ideal customers willing to pay?
- How you Position your brand:
Your position includes how, when, and where you sell your products or offer your services. How are your clients interacting with your business? What do you want to convey to your customers? For example, how do you sell your sandwiches? Are you making office deliveries? Or do your clients come to you?
- How you Promote your business: There are several ways to reach prospective customers and to continue connecting with existing ones. It’s important you go to them and reach them where they are. For example, if you know many of your clients take the subway to work, it may be a good idea to place ads near the subway exit closest to your shop.