How to show your target market who’s boss
As an entrepreneur, there are many things you need to know, learn and perfect in order to be an effective driving force behind your business. One mistake that many first-time entrepreneurs end up making is that they tend to place too much focus on themselves and how they can gain from the business, when in reality, the business should be about the customer – after all, without the customer, the business wouldn’t exist at all.
Something that usually goes hand-in-hand with getting in touch with your customers and what they want, is a tight marketing approach. In many ways, marketing excellence is crucial to the success of a business and this is purely because even if you have the most brilliant idea, if it’s unable to be brought to life and marketed, you may as well not have had an idea at all. As an entrepreneur, there are four principles to bear in mind if you plan to dominate the market and show everyone who’s boss.
Turning ideas on their head to give customers what they want
You owe it to yourself and your business to find a great marketing team that will be able to teach an old dog new tricks - by this we mean take old ideas and rework them into something fresh and new. Great marketers are essentially innovators who are able to take an idea and turn it into a product or service that meets the needs and wants of customers. Marketing and product development should be mutually exclusive because if your business is going to stand out and come out tops, it needs to deliver what people want. The business will prosper provided that it’s able to reuse ideas in new and successful ways.
No matter what they say, winning is important
Competition is one thing that will always exist in business, but the key is to rise so much above the rest, that the competition doesn’t even matter. The most important thing is that customers view what you have to offer as being superior to the competition. At the end of the day, you need to be 100% comfortable being a cut above the rest and putting in the necessary effort to get to that Number 1 spot. That doesn’t mean compromising your integrity and playing dirty, but it does mean doing whatever you need to do to beat the competition. Contrary to what people may say, winning really is first prize in the world of business, because if you’re winning, then so are your customers. So you need to keep your eye on the prize and have a clear strategy (which includes a killer marketing plan) in place for getting you that coveted top position.
Differentiate yourself or fade into the background
Having a differentiated value proposition is that golden nugget in business. Highlighting that thing that your product has that no one else’s does, and doing this smartly, is a critical part of the process that will get you to the top. You have to hone in on those aspects of your product that make it unique because in this way, you’ll be able to distinguish it in a meaningful way for customers. With some markets being so saturated, this is vital if a business is going to be successful – and this is where a solid marketing plan really has clout. In depth research can reveal certain aspects within a market that will respond to particular attributes of a business’s products, but it comes down to smart marketers weaving their magic to connect these dots. Once everything is in place, differentiating yourself should be far easier, putting you on the road to success faster.
Losing even one customer is too many
As we mentioned in the beginning of this post, it’s the customers that make a business. Therefore, one of the primary goals of any business should be to win over customers, serve them and keep them by meeting their needs on a constant basis. Of course, this doesn’t mean always doing what the customer demands, but the customer should be seen as the priority and they should be made to feel that. Consistently bringing unique value to your customers is something all businesses should strive to be doing, because happy customers means staying in business. Losing one customer may not seem like a lot but in fact, it is one too many, especially when a business should be pushing to retain and attract growing numbers of customers.
While you’re out there making waves in the market, let Sage One software handle all the financial aspects of the business – that way, you’ll have more time to devote to strengthening your marketing team and being the best entrepreneur you can possibly be.
Featured image: http://breakappz.com