Do you know how to market your business?
Check out the following:-
Reasons why researching the market for a business idea is important:-
- Check the viability of a business idea
- helps to understand customers, competitors and the market,
- assists business plan,
- launch new products and services,
- fine-tune products and ervices,
- expand into new markets,
- assess risk investment,
- demonstrate credibility to partners and financiers.
The different ways in which the products or services of a business can be promoted:-
- business stationery
- vehicle livery
- article writing
- speaker at events
- sales letters
- free samples
- joint ventures
- Pay Per Click
- search engine optimisation (SEO).
The different ways of delivering the products or services of a business:-
- party plan
- one-on-one demonstrations
- personal contact
- internet sales
- build good relationships with your customers
- personal touch
- use own communication skills
- product knowledge costing/offers.
- sale of goods and services by third party (partner, affiliate, resellers, specialty stores, retailers) needs less sales
- personnel trial of service/goods
- quick, lack of commitment, removes personal involvement, good advertising reduces the need for sales staff.
Why it is important to satisfy customers
- Customer retention increased sales
- business expansion.
The different ways of measuring the level of satisfaction of customers with the products and services of a business:-
- Feedback forms
- monitoring repeat business
- focus groups
- customer interviews.
If you would like to learn more about how to market a business, I have a one day accreditated course “How to market a business” that is accreditated by the VTCT.