Whilst many introverts don’t want to have a huge business, it’s still important for the business to grow so that it doesn’t stagnate – and so that you, as the business owner, don’t starve. In this article, Mehul reminds us of three key marketing tactics that will help your business grow.
~ Julia Barnickle
While you are set on being in business, out of the many priorities on your list there largely looms the prominence of ‘Marketing’. You can never negate the importance of marketing. The big business houses spend oodles of money on advertisements etc because they know very well that if they are “out of sight” of the consumers then very soon they will also be “out of mind” as well. They cannot afford this to happen in the business.
You have to be in front of your customers to help make the sale as that would lead the money to flow into your pocket, which is undeniably the motive of being in business and that also helps it to flourish. People should know about the products you sell or the services you offer. Hence, marketing is a mandatory aspect. Marketing can be defined as a procedure to make your products and services known. The whole idea of marketing is to reach your target customers and popularize the products.
However, there is a method for doing things, and so it is for marketing as well. You just cannot go about it in a random manner. You have to prepare a plan of action and move strategically to do proper marketing. Here emanates the idea of ‘Marketing Strategy’. This is all about the approach to publicize your product. The basic objective of marketing strategy is to increase sales and to accomplish a competitive edge in the market.
Suppose you have a goal for your business. Now marketing strategy answers the question of “how” it should be done. How would marketing provide an upsurge in your sales figure? How would it help you to be in the forefront leaving your competitors behind? It defines and explains in detail the path to be followed to achieve the goal. Chalking out a strategy for your reference gives a direction to your marketing goals.
Imagine. The market is full of products and services of some kind or the other. You may enter the market with the same products as the others are offering or with a similar product as that of the existing one or with a totally new product. In all the three cases, the success of your product depends highly on a variety of factors along with the marketing strategy you are adopting.
Amongst the marketing strategies, there are, in general, three major tactics that you can apply. The following are the three key marketing tactics that you can implement in order to help your business grow:
- Client Attraction – As the term goes, attraction tactics can be used to lure in the consumers to attract them towards your brand. Placing advertisements in various media channels, on big hoardings, on online platforms are all a part of this attraction policy. Using a jingle or a slogan for your brand that is off-beat, easily sticks and lingers in the minds of people and this helps in pulling them towards a brand.
The main objective is to get noticed amongst your competitors. The ones interested will surely get attracted. Therefore, have a brand identity and represent it properly. Keep your brand identity in mind while representing it in public. Make your appearance a professional one so that people gets attracted to your brand instantly.
- Client Conversion – After you have attracted a set of people interested in your brand, it’s time for you to transform those potential customers into your clients who would be willing to avail your products or services and would like to pay for that as well. Conversion starts with a conversation between you and your potential client, whereby the latter is persuaded into taking some action, which initiates the conversation. But you have to be clear on two points as to: Who are you trying to convert? And what are you trying to convert them to?
Besides be clear on what message you want to convey so that you can influence maximum number of people with utmost transparency and lucidity. High conversion rate indefinitely leads to more sales, less customers to lose and ensures a better return on investment.
- Client Retention – The next thing you can do after converting the potential prospects into buying customers is to retain them. According to facts, on an average, it takes 7 times more money to get a fresh customer than keeping an existing one. The reason being the existing customer already knows about your brand and trusts your credibility for the value you provide. Retention is a very profitable tactic as it involves low investment.
Therefore, try to maintain the relationship with your existing customers, engage them in a lifetime commitment, gratify their needs with your products and services and find a pool of loyal customers around. They form a faithful set of return customers who are easily convinced to buy things from you and don’t argue much for the prices also. Return customers also become free campaigners of your product, without any investment on your part.
Hence, it’s a journey which you can make memorable for your valuable customers and they will automatically prefer your brand and come back to you again and again.
Therefore try your best and apply these marketing tactics in your business to help it grow as never before.
Your valuable comments on this are welcome.