Simple Steps to Move Up the Marketing Ladder
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Every business needs to grow. That doesn’t mean you have to reach out to a larger market. It means working toward increasing your share of the one you are targeting. This will keep your business healthy enough to survive obstacles such as tough economic times.
In order to keep moving forward, you must market your business constantly. You need to dedicate a certain percentage of your resources to building your brand and reaching your target market. Here are some simple things you can do to move up that marketing ladder:
Have a clear picture of your target market – Find out the types of people who use the products and services you provide and the people who respond to your business philosophies. If you’re not marketing to the right people, all will be lost.
Research, research, research – Determine how best to reach your target market and what they expect out of your offerings. Study your competition carefully and make note of what they’re doing right and wrong.
Choose your marketing channels wisely – If your target market rarely reads, there’s no point in advertising in a magazine. Use what you’ve learned about them to find the best possible outlets for your message and focus your marketing efforts there.
Give your advertising a chance – Studies show that consumers require repeated exposure to a product before they will even consider buying. So don’t be surprised if one ad run doesn’t bring spectacular results. If you’ve done your homework and found a viable way to reach your market, run the ad at least two more times before you evaluate the results.
Take advantage of free publicity – Sending out press releases and finding other ways to attract the media will give you high-quality exposure, and it won’t eat into your budget.
Keep track of your results – If what you’re doing is working, you should be generating more revenue. Use some of that revenue to do more marketing. If your marketing isn’t working, make adjustments and try again.
If you have to take a step back on the marketing ladder, that’s not a sign that you’ve failed. It’s a sign that you’re a smart marketer. Sometimes the market changes, and it’s up to you to monitor those changes and adjust your marketing plans accordingly. No successful company markets the same way forever. By evolving with your target market, you can climb the marketing ladder to the top.
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