by Laura Pfalz
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Don't throw in the towel just yet. The answer to "what is marketing strategy" might be just what you need to save your failing business.
- Don't throw in the towel just yet.
- Take the time to understand how the answer to, "What is marketing strategy?" and how it might help give your business the boost it needs.
- If you don't have a marketing strategy going into your business, you're really not going to get the results that you want and you'll begin to lose money rather quickly.
Your niche market is determined by the products you sell or the services you provide.
- For example, if you sell fishing supplies, you'll want to market to people who enjoy fishing.
- If you market to people who don't enjoy fishing, you're not going to have any customers.
- How do you know who enjoys fishing (or whatever your product/service is) unless you talk to random people and specifically ask?
- This is where advertising comes in.
- In actuality, advertising can come in many forms, some even being free or very inexpensive.
- With the interenet, you can use keywords that describe your business so people looking for the products you're selling will find your advertisement.
- You can then use online advertisement, such as
- Free classifieds,
- Free video sites, and
- Free blogs
- And while all of these are all great ways to advertise your business, they will help you to get acquainted with a solution to your basic question of, "what is marketing strategy?"
- Most libraries and grocery stores have bulletin boards where you can post flyers about your business.
- Tell your friends, neighbors, relatives, and anyone you meet about your business and tell them to tell their friends and relatives.
- You could even offer coupons or promotions to get customers in the door.
- And though you might take a small loss off promotions, but you'll likely get return business and it's better than having to liquidate your entire inventory in an "out of business" sale.
When you begin grappling with, "What is marketing strategy?" do yourself a favor and step into your customer's shoes for awhile.
- If a new business opened in your town or online, what would make you want to shop there?
- What do you look for when you're a paying customer?
- What atmosphere or webpage design is pleasing to you?
- So, when looking for a way to salvage your failing business, always seek ways to look for an objective way to evaluate your business from the eye of your beloved customer niche.
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