Every business is different but the one thing all enterprises have in common is marketing. Whether it just started up or has been around for years, every business needs to have a brand identity, a target market and a promotional plan.
Effective marketing covers all of these aspects. It is important to take advantage of all of the marketing options available, including those online and in print. If you need a crash course on marketing or if you want to change your business’ promotional strategy, take a look at these four ways to define marketing goals so that your business can prosper.
1. Know your target market.
Your marketing goals will be different depending on who your product or service is aimed toward. Every demographic has different needs and desires. You won’t be able to market a business that is aimed toward pleasing everyone. Instead, understand who your main customers are and work to market to them. For example, if your product or service attracts mainly teenagers or young adults as customers, marketing on social media sites such as Facebook or Twitter is an effective strategy.
2. Understand positioning and how to use it to your advantage.
Entrepreneur.com defines positioning as a strategy that “helps establish your product’s or service’s identity within the eyes of the purchaser.” Simply put, positioning is what distinguishes your business from the competition. It is the unique niche that the business occupies among other businesses. Decide what your company’s positioning is and center your marketing goals – your image and promotional strategy – around this positioning.
3. Poll your customers.
An effective way to understand what your customers are thinking is to ask them. The most popular and easy way to do that is through surveys. When customers purchase your product or service, ask them how they found out about your business. You can change how you approach marketing based on what they say. A few customer-driven tweaks can make a big difference in the overall growth and popularity of your business. This will also refocus your efforts directly on the target market(s) that have already purchased your service or product.
4. Measure your progress and make necessary adjustments.
Use surveys, sales figures, and other data to understand how your marketing strategy is affecting your business’ performance. Goals must be measurable and they must be small enough in size that you can make adjustments without fear of catastrophic outcomes or collapse. In order to understand how your marketing goals are affecting your business – and if any marketing changes are effective – keep track of any improvements or dips in sales. You can use this information to provide a better end product that more effectively and efficiently suits your customers.