There are many ways to market your business, and even the big brands do it in many different ways. There are, however, some similarities within their strategies which small business can learn from. We have created some pointers which will help you in your business marketing strategy.
Focus on one area
Find out what you are best at, and focus your efforts there. Do not try to do too many things at the same time.
If you are a restaurant that offers American burgers, Italian pasta dishes as well as classical Danish specialities, then you are sending out mixed signals about who you are as a business. Make a choice and stick with it. This way, the customer knows who you are and they are more likely to be happy with your service or your product. Furthermore, you can specialise within your field. This will make your customers choose your business over the competition. Simply because you have positioned and marketed yourself as a specialist.
Understand your customers
After finding your area of expertise, make sure that you actually understand your customers’ needs and how you can reach them.
These are the questions you should ask yourself while trying to sell your product: What are their needs? And how do we reach our target customer? A great example of niche targeting is GoPro. GoPro is an action camera brand who have managed to sell millions of cameras by specifically marketing them to athletes. Although the brand targeted one specific group, it was then successful in reaching a much broader market. The GoPro camera is now common among YouTubers, travellers and other people who want to document their outdoor experience.
Be a storyteller and start with “why!”
Whenever you are creating a story around your product, start with “why”, by explaining the driving force behind your business. Don’t just sell a product, sell a story, like big brands do. Consumers do not want to be considered as numbers on a list, they want to be part of a story. Make sure you create interesting content that will help make your product stand out from the rest. Use clever advertising, testimonies and reviews to humanise your products and to generate more leads. There are thousands of companies who sell luxury jewellery, but why do so many people want to buy from Tiffany&Co? The company decided to focus on how their diamond rings are a key feature of the perfect love story.
Find your correct pricing level
Raising or maintaining high prices will be complimentary to your marketing strategy. Your pricing will be in direct relation to your brand. If you choose a higher pricing level than your competitors, you have to make sure that you also provide a higher quality of product. Selling is all about positioning yourself correctly in the market. Apple is a great example of this. Their pricing has positioned them at the top end of the market which fits the quality of their products as well as the brand value Apple has created.
You have to bring something new to the table if you want to stand out from your competitors. If you find that there is nothing that makes your business stand out from your competitors, go back and work on your why and how you can differentiate yourself as a business.
Now all you have got to do is to choose your tactics.
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