You’ve had a brilliant idea that will change the face of your industry or even the country forever. But your business has been trading for two years already, so why are sales still so low? Have you structured all the components of your business, prepared your budget and built your marketing campaigns? It is so important not to slack on your marketing activities especially when your business is not thriving.
Marketing and advertising is widely neglected in so many industries. Just because you have a great idea doesn’t mean it will just fly off the shelf. You must have a marketing plan in place to know where you’re coming from and where you’re going. Any business plan template has a considerable few sections dedicated specifically to planning a marketing strategy and allowing for your advertising budget. There is a very good reason for this, your business will not going anywhere if no one knows about it. You may advertise in a local newspaper and think that that will be all you need to get your business going. In reality, a few leads may result from your one advert, but you have to put more weight into your advertising.
Create brand awareness by advertising in different media that will reach your target market. Ensure that the media you choose is specific to your target market. Tell your marketing consultants to let you know how many people may see your advert. Every magazine has a profile of its readers and can tell you how many issues are distributed to various stores. This is important information because you must know who will be reading the magazine so that you don’t waste money on advertising in the wrong magazine.
The same goes for internet marketing. Advertising on big websites sounds glamorous, but the truth is that banner adverts are good for creating brand awareness but not necessarily for leads. Such banner adverts must be accompanied with other advertising media so that you can engage with your audience and constantly remind them of your logo or brand. Any experienced marketing consultants will be able to help you with this.
Your business idea is a good one so take the time, even if it is quite some time, to formulate your marketing strategy. If marketing is not your strong point, then get some help. A marketing agency will get to know you and your business, research your market and draw up a marketing plan that is suitable to you and your budget.