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Marketing Will make you win.
The subject of Marketing is a very critical one for every business. Remember that it is never enough to provide value. More so, it doesn’t matter how much value you create if no one knows (or cares) about what you have to offer. The point needs to be emphasized that, no business can thrive without marketing. It is always the case that those who don’t know of a service /product or a business existence will not be able to buy what the firm has to offer, and people who aren’t interested won’t become paying customers.
In this episode, I will be establishing how successful firms find a means to draw the ideal attention of the public and pique their interest in the product or service being offered. No meaningful sales can be realised without prospects, and firms will perish if there aint profitable transactions.
Difference between Marketing and Sales.
Marketing is the practice and discipline of identifying people who are enthusiastic about what you are doing and have to offer-these are called prospects. The world’s most successful companies figure out how to acquire qualified prospects rapidly and cheaply. Your business will be better off if you can attract more prospects. Understand that selling and marketing are not synonymous. While many direct marketing tactics aim to reduce the time between getting noticed and requesting for sale, promotion also known as marketing and selling are two completely different things. The goal of marketing is to get attention; the goal of sales is to sell the product.
The need for attention
There is always the need for attention in the marketing effort. The demands on your attention in today’s world are excessive. Consider how many activities and items are vying for your attention right now: business, individuals to call, mail to read, Entertainment to watch and to listen to, and a plethora of Online websites to browse. There is always not enough time to finish them all. The first marketing rule is that your potential customer’s attention span is short. Trying to keep up with almost everyone and everything happening around you would demand so much more concentration than you currently have. To cope, one has to filter by restricting their focus and giving more attention to the things that matter and less to the things that don’t. This event and scenario is somehow applicable to everyone else, including prospective customers. There is therefore the need to devise a way to get past someone’s filters in order to grab their attention.
To be continued….
IMPORTANT BUSINESS STRATEGY
Don’t always buy every asset with cash on hand as a firm or a business. Take every opportunity to credit. Purchasing products on credit as needed provides you a competitive advantage over competitors who pay cash. Leveraging trade credit allows your company to be more adaptable to demands of the market and seasonal variances, allowing you to maintain a steady supply of goods even if your finances aren’t in good shape.
What you know will help you take the lead.
SALES
It is important to know why you are in business. Every profitable company sells what value it has to offer. It indeed doesn’t really matter if you have thousands of prospects but no one ever pulls out their money to buy a product / service. A prospect initiates the sales process, which concludes with a paying customer. Always remember this; without sales, there is no business. In order to become a great business, you must gain your customers’ trust and help them realise why the product /service is worthwhile. Very importantly, no one wants to make a wrong decision or be taken advantage of, therefore sales mostly entails assisting the prospect in understanding what’s important and convincing them that you can deliver on your promises. At the end of the sales process, you’ll have a happy new customer and more money. No business can survive without a business transaction between a buyer (customer) and a seller (company). A transaction is defined as a value exchange between two or more parties. Parties are always better off if they agree to trade something in exchange. Every business’s defining moment is the transaction. Because sales are the only juncture in the business cycle where capital enters the company. This therefore means that completing transactions is vital. A company can only survive if the sales bring in more money than they spend, which they can’t accomplish without making Transactions. The point is this, only Economically Valuable itemsare allowed to be traded. Meaning to say prospective customers won’t buy from you if you don’t have anything they want. This could sound self-evident, yet it’s remarkable how many would-be entrepreneurs enter the market without knowing what the market needs.
Credit: Josh Kaufman
These videos will change you.
WHAT IS DIGITAL MARKETING?
Technology is now used on a regular basis making its role in every company very critical. This is especially true when it comes to brand marketing and positioning. The practise of marketing in the technological world is referred to as Digital Marketing.
This entails marketing across a multitude of mediums, including the internet, social media, and even text messaging. Because of its debut into the marketing world, firms have been able to grow their markets by reaching out to new people with different demographics. It is also thought to be a more effective marketing strategy.
In the 1990s, digital marketing approach gained popularity, and by the 2000s, it was frequently adopted by several companies and brands. So, what distinguishes digital marketing from older conventional kinds of marketing? Traditional marketing (for example, television, print, and radio) was one-sided, in the sense that a company presented information to its customers without making it possible for them to respond; whilst digital marketing enables the company to reach out to a specific audience while also providing a platform for the customer to connect with the company. To put it another way, traditional marketing focused primarily on the business-to-customer relationship. Digital marketing, on the other hand, accomplishes the same goal as traditional marketing while also allowing customers to engage with the company.
Digital Marketing Benefits
The first is the bidirectional exchange of information between a business and clients. As already indicated, digital marketing is beneficial not just to businesses, but also to customers. Clients now have easy and quick access to the business and the brands they know.
This implies customers don’t have to wait for a communication from the company to learn about new items or inquire about a potential problem; instead, customer can contact the company directly without the need for an invitation as part of a marketing strategy.
The brand is humanised by bringing customer closer. By making customers decision so impacted. When brands ask for feedback from customers, they feel more valued. Additionally, there is a direct interaction between the brand and the customer. On both sides, obtaining pertinent information, accuracy, transparency, and trust are all important.
Furthermore, digital marketing takes less time to implement and gives more accurate data on campaign reach and effectiveness and can be targeted to a broad or specific audience more simply than traditional marketing. This is because, instead of distributing a mail to an entire city, businesses could easily target certain demographics thanks to technology.
Another advantage of digital marketing is how it facilitates multinational campaigns. It’s basically as simple as clicking a button, allowing companies to reach a larger audience and expand their market. One of the most essential components of digital marketing is the large range of opportunities it provides.
To be continued…