Understanding marketing as a business owner or entrepreneur is the key to your success.
Marketing helps you understand your target audience better and improves your communication to benefit them and, ultimately, increase the value of your business. This exchange will eventually lead to a loyal audience that can be monetized to reach your business goals and objectives.
Here are 4 marketing facts that every business owner should know.
FREE Checklist: Common Business Mistakes You MUST Avoid
4 Marketing Facts You Should Know
Understanding these basic marketing facts below will help you understand the value of marketing better.
This way, you can be sure the marketing you implement achieves your goals and satisfies your target audience.
1. Marketing is Key to Success for Any Business
Marketing is the key to success for any business. It’s a necessary component of business, and without it, a business will likely fail. Marketing is about positioning your product in the market so that your potential customers can notice it. Marketing can take many forms, such as paid advertising, videos, blog posts, or infographics. Nearly 82% of marketers online say they actively use content marketing to find their target audience.
2. Marketing is All About How You Sell, Not What You Sell
Marketing isn’t what you sell but how you sell it. Consumers are bombarded daily with brand messages, so marketers have to get creative with their marketing strategies to stay relevant and distinctive. Marketing campaigns should be built around the consumer’s needs and address their pain points with your products or services.
3. Marketing Starts with Your Customer, Not You or Your Product or Service
Marketing starts with the customer. Creating a product or service for your customer is essential for business success. The key to a successful marketing plan is to understand what customers want and to deliver that. When marketing any product or service, you have to know who your customers are, what they want, and how they think.
Who is your customer? What does your customer want? This can be answered by asking the following questions:
- What are their demographics?
- What do they buy and why?
- What’s their favorite type of product/service?
- Where do they spend their time online, on social media, and generally?
4. The Best way to Market Your Business is Through Word of Mouth and Satisfied Customers
Word-of-mouth marketing is a very powerful marketing method and is one of the reasons digital marketing and social media marketing is so successful. Satisfied customers will naturally tell other people about their experience and share information about your business. However, if you’re unable to find or maintain enough satisfied customers, you may resort to other marketing methods. Making highly shareable content such as videos, fun infographics, how-to guides, and eBooks is a great way to increase word-of-mouth marketing.
Free Download: 10 Common Marketing Mistakes
We all make mistakes. We wouldn’t be human if we didn’t. In the world of business, you’re going to make some minor boo-boos and some cataclysmic mistakes. It’s all part of the learning process. Although mistakes are going to happen, you can avoid the common marketing and business mistakes that are lurking around the corner. Download my free checklist, 10 Common Marketing Mistakes, and avoid the false moves and slipups that even veteran business owners and entrepreneurs make.