Before starting a small business, you should first understand the need of the target market and then try to provide a suitable solution.
You should use these steps if you are an entrepreneur who wants to start a new venture or create a marketing plan for an existing successful set up. Most people talk about the greatness of their products or services. Instead you should regularly educate the target market and build a relationship of trust and credibility.
"Think marketing" is the mindset to be developed for your products and services. You have to market constantly. Do not fall for stop and go marketing. Some small businessmen start marketing only when sales are doing badly.
Having a successful marketing plan is essential for the venture. Profits and growth are directly proportional to effective marketing.
If you are thinking where to start this guide will help you to understand the market and business.
Now let's start by answering the following questions:
1. Who
Who is your target market? Who is your ideal client? What are the researches you need to do to find out more about the target market?
2. What
What does your ideal client want? What does your product and services do for them? What problems of your customer are solved by your product? What solutions does your client require? What is your unique selling point (USP) that makes you unique? What are industry trends? What will make your client react? What are you selling? (For e.g.: are you selling eyeglasses or vision? Are you selling mattresses or comfort?) What is your brand of product and services? What would be the price?
3. Where
Where is your ideal client? Geographically where are they located? Where will you position yourself for their easy reach? Where will they get your marketing messages from? Will you go through personal conversations, hold seminars or write a blog, newsletter or article?
4. When
How frequent will you be with your marketing messages? When are your clients most likely to purchase?
5. Why
Why are you in business? Why will customers come to you? Why should they not go to your competitors and choose your products?
6. How
How does your customer purchase? How will you reach out to potential clients? How are you going to communicate your marketing strategies? How will you provide information to your customers to make their buying decision?
7. Marketing Mindset Try to master a marketing mindset that will guide you and your small business will move towards profits and success.
These steps no doubt will give you the required spring board to get that new venture off the drawing board.