• Sheila West

3 Marketing Basics

Marketing strategies differ from industry to industry. However basic strategies cover three components. First, all businesses need a marketing plan. Next, businesses need to plan time for marketing. Lastly, businesses need to regularly evaluate and adapt marketing strategies.A frequent review of these marketing basics keeps the concepts fresh and top of mind for daily planning.

Make a Marketing Plan

Without a plan, you plan to fail goes the proverb. Without a marketing plan, businesses miss customers. A sound plan includes market analysis, list of competitors, resources needed, expected costs of doing business, and expected profits. Additionally, the profit expectations should cover 1-year, 3-year, and 5-year projections.

If the marketing plan is part of a loan application, be sure to use the best, most affordable writing services to make a good impression. Words drive content whether it's TV, radio, print or online. The best writer may be you or a consultant. So, when choosing a consultant, choose someone attentive to your vision who can promote your business' brand or message.

Set Aside Time to Market

Plans on paper mean nothing if no action follows. While an obvious observation, some businesses don't execute their plans. There are a variety of reasons. Fear, circumstances, finances are just some of the reasons for lack of action. Setting a specific day, making task lists, and setting deadlines are the basics of effective marketing.

Don't discount external professional services. Consultants, copywriters, graphic designers and other freelancers offer expertise that complements a company's business expertise.

Don't forget to include time to develop relationships. Like good marriages, good customer relations mean regular contact beyond selling business services. Additionally, employing external services like ad agencies, copywriters, or other marketing consultant services to handle strategic planning or content development are effective ways to stretch limited budgets and resources.

Evaluate & Adapt

A regular review of marketing strategies does two things. It makes owners see what strategies work and what doesn't. It forces managers to stay abreast of market trends and adjust accordingly. Accordingly, allowing flexibility with planning means faster reaction to changes with customers, competitors and markets.

Marketing basics never go out of style. Basics include a marketing plan and setting aside time for marketing. Finally, regularly evaluating and adjusting marketing strategies increases a business' ability to adapt market changes.

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