This is a pretty common saying from new entrepreneurs. "I know nothing about marketing." My respond to that would be, "Then, how did people know about your wedding or party (kenduri)?" They must have gotten the news from somewhere. That's marketing! It's getting the news out there and encourage people to act.
Many entrepreneurs or business owners believe that they know nothing about marketing because they've never studied marketing formally. And the evidence is supported by the investment they’ve made in marketing but no satisfying results as they’ve said. What you think of the result is all depends on your goals and objectives. I'm afraid it's not the small amount of investment poured in the ads rather it's the lack of strategic planning.
Before we can get to strategic plan, let's review the basic of marketing. Here are 10 things you should know before starting a marketing campaign.
7. Marketing is not selling
Marketing is educating your consumers about your product and encourage them to act. It is part of a sale cycle but it's not selling directly. By educating your consumers about the product such as features, benefits and pricing, you're helping them decide whether they should make a purchase or not. If what you’re telling them meets their needs, they will consider making a purchase. Sometimes customers need more information before they can act or they just need some time to think about it. Please give them the time to think.
6. Start small
When you're product is new in the market, you can’t expect everyone will buy your product. That's ridiculous. There's not one product in the world that is appealing to everyone. Let's be realistic. By targeting a small group of consumer, there's higher chances your message will be received by them.
5. Know your target audience
When you're targeting a small group of consumer, make sure you know them deeply. What are they like? Where do they shop? What are their interest, concerns, hopes and dreams? What about their personalities? By creating an ideal customer, you know which product features will be most appealing to them. You can craft marketing messages that meet their needs.
4. Know your product well
You as a product developer or product seller/ distributor needs to know your product very well. I mean very well if you want to convince you're ideal customer to make a purchase. This include the purpose of the product, features, benefits, pricing, design style, history of the product, case studies, similar product etc. Because if you can't answer most of your customer's concerns, they will lose faith in the product and discourage them from making a purchase.
3. The 4 p's
If you have no knowledge in marketing, I suggest you learn the 4 p's. They are Product, Price, Promotion and Place. These are what I've mentioned. By knowing your product well, you know where the product should be sold at the right price point and promotion. If you want to know more about the 4 p’s, this article will tell you more.
2. Marketing funnel
If you're not a marketer, that's alright but you do need to know how marketing works. This can be explained through a marketing funnel. Every successful marketers use a marketing funnel as a reference when they plan out a marketing campaign for their company or clients. On the top of the funnel is the awareness stage. This is the stage where you need to educate your consumer about your product. The next stage is the acknowledge, followed by consideration and so on. If you're new to this, I suggest you read this article which will explain more about the marketing funnel.
1. It's about the consumer
When you're trying to market your product, it's not about how great the product is and that your consumer will love the product but it's about whether the product helps the consumer save time, improve their lifestyle and save money. That's the most important thing. The product you're selling needs to have greater value to your consumer. Your job as a marketer is to understand your consumer's problem and craft a message to help them find a solution. It's not about you, it's about THEM.
There you have it, the basic of marketing that every new entrepreneurs need to know. Marketing shouldn't be stressful because you've already equipped with the skills. It just so happen you've forgotten about it. So start practicing with one target audience at a time and work your way to widen the market segment.