MARKETING YOUR BUSINESS: Profiling, Segmenting, Mixing, Portfolio and Branding

DEFINITIONS AND DESCRIPTIONS

Now, how do you start marketing your business?

Here are a few tips and HOW-TOs in making that first sale.

PROFILING

You have to know exactly who your prospective customers are. If you want to sell cupcakes, you might want to get into partnership or agreement with event coordinators who specialize in children’s parties. Now, if you have a more competitive product like software, or services that deals with computers and technology, your target market would have to be companies and offices. Knowing who your consumers will be makes starting a business more promising.

Profiling is very important so you could plan your course of action when it comes to communicating with them. Setting your marketing strategy towards your specific target market will only be effective if you have profiled them properly. Identifying the group of people or companies that are currently buying patronizing products and services in the trade you wish to enter will give you leverage in competing with the existing businesses same as yours.

One classic example of profiling is by determining the age bracket of your target market. If you are operating in meeting the needs of industrial businesses, you should know how long a specific business in your target market have been operating and how young is the trade you are getting into as fresh-booming trades yield faster ROI (return of investment). Knowing that certain businesses included in your target market has proven operating experience based on how long they have been in the business will tell you if they have constant need for your products and services. This will encourage you to move forward into starting your business.

After you identify your specific target market, you have to profile them based on their individual characteristics. This way of profiling is also known as segmenting.

SEGMENTING

Segmenting your target market will enable you to distinguish your client’s specific needs based on their common characteristics. You can group them according to their individual preferences. You base your grouping or segmentation by certain standards, such as – but not limited to;

a) Capacity or Demographic Criteria: industry, company size and location

b) Habit or Purchasing Approaches: leasing, contracts, system purchases, sealed bidding, etc.

c) Preference or Operating Variables: technology, user/non-user status, customer capabilities, etc.

d) Need or Situation-al Factors: urgency, specific application or specialty, size of order or need, etc.

e) Personality or Personal Characteristics: buyer-seller similarity, attitude towards risk, loyalty, etc.

Profiling and Segmenting works to achieve a specific purpose of helping you prioritize the most “qualified” group in your list of prospective clients. It will also give you an upper hand in dealing with the less promising group as you are already equipped with the necessary information about their client profile.

MARKETING MIX

The most important question is, “what is marketing mix?” Marketing has different variables that a certain business could control and mix to the most precise amount to meet the requirements of each client, as well as for different situations and purposes. Marketing mix is the interaction and integration between each variables. Each variable or element does not stand alone and will not make any significant effect if considered by itself. It is necessary to keep in mind that each variable is a part of a particular marketing mix.

Mc Carthy, in 1975, introduced the four Ps; product, place, promotion and price. Today, Mc Carthy’s four Ps are translated to:

*Product or services that are rated and qualified by prospective clients by its quality;

*Place, is for one, your specific location; also known as the factor to how your product reaches your customers. It is commonly referred to as distribution;

*Promotion is classified from the most visible to the less obvious manner as to how your marketing is implemented. It is how you communicate your products and services to your target market;

*Price is self explanatory but will usually include discounts credits and the likes.

Respectively speaking, being coherent, consistent and leveraged is the ideal mix you need to match with your competitors so you can differentiate your brand and set your company’s strengths and weaknesses against those that are already in the market.

Conclusion:

One example of marketing mix is by making your products and services affordable by including discounts on bulk purchases and considering on giving loyalty rewards and referral programs to your clients – who, may or may not require immediate receipt of their purchase, which you can send by delivery or rush pick-up.

Another example is by distributing your products to different locations by means of franchising or sub-contracting your services where your target market could avail at the same price as if they bought it straight from you.

Both examples covered the four Ps – product, price, promotion and place.

PORTFOLIO

Product portfolio is the most important of all the marketing steps. Your product has its attributes and you want to have these attributes described and explained in the most effective way. A product portfolio will certainly provide the best possible description of your products and services. Most portfolios are in a form of brochure.

BRANDING

Now, here is the best part of marketing – branding. What is branding?

There is no better way to explain branding more precisely than comparing Windows to Macintosh.

Content Marketing: The Path to Choose or Not?

What Is Content Marketing?

Content Marketing means creating and sharing content of high standards and shareable values to attract an audience for your digital empire. The main objective of content marketing is to convert the prospects into customers and the customers into repeated buyers. Moreover, the type of content we create and share tells about our niche.

Therefore, it can be termed as a strategic approach for creating and share content in such a manner which will create and retain a clearly defined audience which will ultimately drive traffic and profitable customers.

Present and Future of Digital Marketing:
The game of digital marketing is ever changing. To display yourself you need to advertise yourself in a very attractive way. Now if we talk about the marketing of our services, the most traditional ways are TV commercial, images or hoardings. But one thing which is present all over the traditional ways is the content. Yes, everything we look, we see or we read have content in it.

Nowadays the smart marketers are using “Content Marketing” as the next big thing. There is no doubt about the fact that content marketing is an awesome medium to present yourself in the market and reach out to the audiences. Moreover, these days customers have given a set back to the traditional ways, this change in the mindset of customers has enhanced the role of content in marketing even more.

Remember this while creating content for marketing
The whole internet is filled up with unique content but not everything holds the same value. So, while creating content, you need to take care that whatever you have created is really relevant and valuable. This is what separates the garbage present on the internet and the good relevant content.

The best thing about content marketing is that it is non-interrupting marketing. It is not direct selling of products and services, instead of pitching them directly, you deliver information about your products and services that make our prospect more intelligent. The main essence of this whole strategy lies in one simple fact that if as businesses and service providers, we deliver consistent and ongoing valuable information to buyers. This strategy is being used by some of the big companies like P&G, Microsoft, Cisco Systems, and John Deere.

Content Marketing: Ain’t no Cake Walk!

However, doing content marketing is not an easy task. The marketers present all over the net are finding it difficult to create content because the competition has become very tough. Everybody else is looking for creating unique content every day. So, it becomes very important to make sure that you are able to create such content to be in the game.

It is the obvious fact that great content is a must for your content marketing. Content forms the base to drive inbound traffic and leads. Moreover, you need good and unique content for your PPC to work. But still there are few present day problems related to content marketing which has made it difficult for the content marketers to make worthy content for marketing

Let’s have a look at the problem:
The attention spans have become critically short
The competitors in the digital market are now creating a very high volume of content with higher production value. Moreover, higher cost to create competitive content people will deem worthy of their attention.

What can be done about it?

Competition in the market has raised the bar in digital market and you can fight the above two problems in the following ways:
Start creating content at equal production value as that of your competitor, but make sure that you do it on more prestigious and trusted brand platforms. The advantage of such platform is that they have built-in audiences. This will bring trust and prestige to you and your content surely.

The second thing, which can be done is increasing the production value close to what your competitor has. Now, while doing this make sure that the usefulness and relevancy of your content should be much more than your competitors.

Both of the ways have the potential to solve the problems related to content marketing, but the second one should be more feasible as it does not take more investments in terms of money. Either way, you choose they key to good content marketing is the way you promote your content. It simply follows the 80-20 rule, 20% of the work is writing good content and the remaining 80% is your promotion.

So, it must be now clear to you that content marketing has become the next big thing but at the same time, it is not just a cake walk. Therefore, whether to choose it or not is totally your call.

Avail Digital Marketing Services To Transform Your Business

A strong marketing strategy is not a choice, but it has become a necessity for every business be it a startup, medium-sized company or large organization. Every business is struggling to keep up with promptly evolving customer behavior. A personalized marketing strategy can help a business to know what customers wish for.

When implemented in a right manner, a marketing strategy can show noticeable results in the context of ROI, traffic and online visibility. However, achieving desired results is not so easy. In order to get the most out of it, the marketers should go on board on a range of digital marketing services to transform the way they promote their businesses.

A successful digital marketing campaign includes professional strategies, structures, and top-notch technologies, along with professional experience. The experts utilize cutting-edge digital marketing techniques to drive bottom-line development of a business. If you run an online business and would like to grow by leaps and bounds, it is the time to hire a digital marketing expert. If you are still confused, here are some reasons why you need an effective digital marketing strategy for your business –

Get a direction

Many businesses don’t have a clear motto and aim. They don’t know what they want to achieve exactly. The experts set the goals keeping in your mind your expectations and utilize the best methods to achieve them for you. The marketers start the work by outlining the business goals. Planning, execution and management, etc. all the responsibilities are carried out by the professionals.

Know your market share

In order to satisfy demands of the customers, it is essential that you know your market share. The experts analyze customer’s behavior, buying tendencies, competitors and many more things to let you know where you exists the market. Social media marketing is one of the advanced and useful digital marketing techniques that allow a business to know the customers. The experts increase engagement with customers by making a strong and dynamic presence of clients over social media.

To be in competition

Online marketing is not a one time job, it is an ongoing process. If you are not utilizing avant-garde digital services, your competitors will move ahead to you. Every day, many companies are launched over the internet with a common goal to achieve success and increase profit. Without proficient marketing plans, it is not possible to survive in the competition. Having a professional digital marketing partner may enable you to lead the battle. Don’t give up if a marketing plan is not offering quick results, be patience and wait for productive results.

To build loyalty online

Gaining confidence of your clients is not an easy thing to do, it requires constant efforts. By utilizing right kinds of marketing services, you can build and maintain trust and loyalty among clients about your brand. The marketers know how to make the clients remember you with online reputation management and branding. Blogging, content marketing and social media activities, etc. can help you to build loyalty among target audiences.

Know your customers

A successful marketer always understands the mind-set, needs and expectations of the clients. If you don’t how what your clients very well, it is time to invest in an effective marketing campaign. The experts evaluate the clients, identify weakness and address them to nurture your business.

Go beyond the boundaries

With traditional marketing techniques, you can grow, but can’t reach the edge. Digital marketing services allow you to go beyond all the boundaries. By investing in SEO, social media marketing and PPC, etc. you can enlarge your reach to your potential customers.

Encourage customer engagement

Professional digital marketers understand the worth of customer engagement for the growth and popularity of your business and they encourage it using various tactics. They segment the customers according to your interest and allow you to interact with them.

In order to accomplish your goal, opt for a right digital marketing company that can carry out the jobs in an efficient manner keeping in mind your business nature, target audiences and specific objectives. Choose a reliable company that is engaged in offering top-notch digital marketing services according to the latest trends.