Becoming Marketing Active: The Fulcrum Guide to Getting Started with Business Marketing – In the first part of our guide to becoming marketing active Feet On Street Marketing enterprise in navi mumbai, we looked at some of the reasons that drive a business to start marketing (if you missed part one, check it out here). But once you’ve made the decision to embark on a marketing strategy for your business, what next? Where do you start and what steps should you take to ensure a smooth and successful process? As is so often the case in business (and life!), preparation is key. So before rushing into any kind of marketing, it’s important to take the time to plan, research and strategise for success. In order to create an effective marketing strategy, you need to develop a thorough understanding of your market, your competitors and your business itself. This means getting back to basics and equipping yourself with all the information you need to identify marketing activities that work for your brand. 1) Research your target market How much do you know about the target audience of your product or service? We’re not just talking about age, sex or occupation (though, of course, you need to know these too). To have the best chance of reaching your target market, you need to dig deeper and find out exactly what drives them towards purchase. What kind of triggers are they most likely to respond to? Which elements of the marketing mix have the most impact on them? How will your product or service benefit them? Understanding these aspects of your target audience will enable you to position and market your brand accordingly, so comprehensive market research is essential. It’s often easier (and more cost-effective) to outsource this type of research to a professional agency who will be better placed to obtain the information you need. 2) Analyse your competition In order to stay ahead of your competitors, you need to know who they are, what they’re doing and how they’re doing it. Once you’ve identified who your key business competitors are, look into the marketing methods they’re using and the way in which they have positioned their brand. What channels and platforms have they chosen to market their business? How are they promoting their brand and its products/services? Consider which elements are crucial to your own business and how you can position your brand in order to get ahead. 3) Define your objectives What do you want to achieve from your marketing activity? Whether it’s to increase your revenue, establish your business in a new market segment or improve brand awareness, setting clear, measurable marketing objectives is vital in understanding what steps need to be taken in order to achieve these goals. Make sure that each identified objective is specific (how much do you want to increase revenue by?), achievable (is it realistic?) and has a timeframe for accomplishment (are you aiming to achieve this goal in three months or a year?). You also need to make sure that your marketing objectives tie in with your overall business objectives. 4) Understand your business You may think you have a pretty good understanding of your business, but it’s surprising what insights can be achieved when you conduct a thorough SWOT analysis (strengths, weaknesses, opportunities, threats). Be rigorous, be meticulous, and above all be brutally honest. Is a lack of staff training letting your business down? Are your prices too high to compete in today’s market? Arming yourself with this knowledge is invaluable in developing a marketing strategy that leverages your company’s strengths and addresses those areas which need to be improved. In the next instalment of the Fulcrum guide to becoming marketing active, we’ll be looking at the raft of marketing channels available and helping you to identify which ones are best for your business. If you have something to share on this topic, why not get in touch? Leave your comments below…
Feet On Street Marketing enterprise in navi mumbai
4 Key Differences between B2B and B2C Direct Marketing
Here are 4 differences between B2B and B2C direct marketing environments.
1. Telesales are used more in BtoB new business acquisition — especially lead generation as part of the channel mix. Marketers have complete freedom to access this powerful medium because businesses do business by phone and current law does not restrict its use as it does in B2C.
2. Lead and sale cost allowables tend to offer more flexibility in B2B because the average sales are often much higher than for B2C.
3. The contact quantities for B2B are lower. This increases the need for sophisticated CRM. While still critical in B2C, B2B sales cycles are often much longer .
4. The database requirements make B2B direct response extremely complex. You are still selling to individuals, but the buying decisions are heavily influenced by multiple individuals who are tied together under a corporate umbrella. Keeping up with file changes makes sloppy database discipline a sales killer. One could argue that poor database discipline hurts both B2B and B2C. But I consider B2B more complex in this regard.
There are other differences and even more similarities between these two segments. But these come to mind as the most important differences from a strategic perspective.
For example, I do not see a big difference in the need for solid benefits in the messaging that are tied to emotional appeals for both categories. After all, business people are still people both at work and at home.
What other differences have I missed here?
