Marketing for Entrepreneurs:Keys to making your business more profitable
One of the objectives of marketing for entrepreneurs is to make companies stand out from their competitors and not to get lost in the crowd. Entrepreneurs, unlike large companies, face the challenge of thinking about marketing strategies adapted to emerging businesses, since their projects have different characteristics from those of consolidated companies.
In this sense, it is essential, in the search of the profitability of a business, to know the basics marketing development strategies designed for ventures.
Traditional Marketing Strategies for Entrepreneurs
As we have mentioned previously, one of the biggest challenges for entrepreneurs is to stand out from their competitors. That is why, in terms of marketing, they must apply much more aggressive tactics that help attract the target audience. What are the ideal marketing strategies for entrepreneurs? Basically, the following:
It is a type of marketing that focuses on the care of customer relations to create a closer link. This relationship intends to renew the profitability of the exchange.
This strategy consists in making quick and low-cost incursions in the market to learn from the behavior of our public and our potential consumers.
This tactic allows the accumulation of knowledge, customers and market share. According to the results, the company will be able to recalibrate its offer on each occasion. This means that the combination of speed and learning can increase the chances of final success.
This type of marketing originates and is understood from the relationship between the company and its customers. However, unlike relational marketing, this is much deeper, since it focuses on the knowledge of consumer, purchasing and communication habits of consumers or users.
All marketing efforts will be geared towards personalization.
It consists of sending attractive messages of the brand relating them to events or news that happen at that precise moment. The idea is to get involved in conversions of interest, add value to these, generate impact and create virality.
Digital Marketing, a low cost and high impact option
Of course, the jewel in the crown of marketing strategies for entrepreneurs could not be left out: digital marketing.
The power of the internet, today, to support marketing efforts is indisputable. From the sending of electronic mails, to the use of social networks, they are indispensable initiatives in every advertising process, especially when it comes to entrepreneurship.
If the fundamental objectives of business marketing have to do with highlighting the strengths of the business to emphasize the value proposal aimed at the customer, digital marketing is one of the ways that would enhance the positioning of the company in the place where users spend more time: on the web.
This strategy is not only accessible, in terms of costs, but it is easy to use for anyone. The same entrepreneur can take care of it.
The use of cheap and even free tools, such as blogs, emails and social networks, represent the most common and effective ways in which entrepreneurs start in the world of digital marketing. Thanks to these tools, it is possible to position yourself as an expert in the area for clients to find you.
How is a marketing plan for entrepreneurs developed?
To define the best way to advertise a product, service or brand, it is essential to make a marketing plan that establishes each aspect of the company. In this way, we will not only know what strategy we are going to apply, but, thanks to the establishment of parameters, we will have an idea of how to talk to potential consumers and on what platform we will do it.
The steps to define the marketing plan for entrepreneurs are as follows:
- Define your customers
The target of any campaign is the first step to execute it. If we know exactly who we are talking to, we will show content related to these people and, in addition, we will adapt the language to one that is accessible and pleasing to this audience.
It is important to be specific and, if possible, to go to an unattended market to gain ground more easily over our competition.
- It offers something new
While inventing a new product in this day of age is practically impossible and maybe your venture is competing in a tough market, our invitation is to think about that distinctive element of your brand, which will ensure that you highlight and apply a strategy that the rest has not applied.
For example, the Dell brand managed to become, in 2008, the second largest vendor of PCs and servers in the world, since, although it ventured into a competitive market, it knew how to differentiate itself by selling computers directly to the consumer.
For the 80s and 90s, Dell’s boom time, the sale of PC equipment was made to retailers, so the personalization of computers was null. The company leveraged in this vacuum to promote and, in passing, completely change the way in which computers were sold.
- Go to where your customers are
If you have the opportunity to take your product or service to fairs and events in which potential consumers could be found, do not hesitate to do so. The advantage of this type of initiative, in addition to the visibility you provide to the business, is that you can better know the habits of people who attend this type of event.
- Stand out
Although it’s common sense, it is still true: the best way to stand out is to offer exceptional services, options that make your clients’ lives easier and more comfortable. You can provide 24-hour customer service or offer special discounts on orders and shipments for example.
When evaluating the different marketing options recommended for entrepreneurs, it is necessary to bear in mind that, depending on the strategic objectives of the brand at the moment, it may be useful to resort to a single model. However, in most cases, it becomes imperative to apply more than one marketing strategy.
In that sense, the key to success in making a profitable business is to position it as the best opportunity for customers and users. To achieve such a positioning, a powerful and well thought-out marketing strategy has to be put in place. Planning, after all, is a fundamental piece for the achievement of objectives.