So you’ve recently decided to start a business? Besides all of the financial costs to start-up your business, you’ll also have to decide how to market to your market. Let me tell you, writing a real business is on a whole other level. I’ve done plenty of assignments, but of course the real thing is much more nerve-wrecking. There are so many elements that need to be checked off the list before an actual plan can be formed.
● Always find your target market (the group of people you would like to sell to). Including studying demographics, behavioral, and geographic of your potential customers.
● Make sure your products have benefits that suit the target market you’re trying to attract. Ex: Advertising rain boots where it barely rains
● You should be solving a problem/answering a question. Or at least position your product like you are.
● Your product should also be differentiated from others in the market. There are hundreds of the same type of product on the shelves, why would someone want to buy yours?
● Keep in mind that certain products are bought with little to no thought to the consumer. Ex: When buying milk I go for the same brand every. single. time. no exceptions.
● Your reputation and influence determine how loyal your customer base is to your brand. Word of Mouth is the number 1 advertising method. People can make or break your business just in a 5 minute conversation.
I’m going through this thought process right now myself with trying to start a business. Trying to plan a lucrative business that will survive anything is difficult and can take years of planning. You got this, keep going! If you’re an entrepreneur of any kind, I would love to hear your story. Any real world tips you can provide would be awesome as well!