Marketing is crucial for any business just as Oxygen is to any human being. A well thought out marketing plan and strategy can lead to massive sales which is in fact the goal of almost every business owner but sadly a lot of businesses are crippled because of lack of good marketing.
According to statistics, about 1 in every 5 businesses close up in at least five years of launch, this could be attributed to mismanagement of capital,low return on investment, lack of customer research and no definite goal or business plan. If we should be very straight to the point, a leading cause is usually a lack of sales and that is in fact the reason why every business owner who's concerned about growth should learn about effective marketing.
So what is marketing?
Marketing is the process of creating, communicating, delivering, and exchanging value to meet the needs and wants of customers. It involves understanding your target audience, developing strategies to engage them, and promoting products or services to drive sales and build brand loyalty. Key components of marketing include market research, branding, advertising, public relations, sales, and customer service. The goal is to attract and retain customers while achieving business objectives.
While trying to market, it's important to know and understand your target audience, your customer avartar, the system of demand and supply, possible risk and precautions and a very realistic financial goal or returns on investment.
So what does marketing look like, marketing can be sharing your product benefits on your Facebook page, posting an eye catchy design, running ads to generate leads, a video content showing the amazingness of your service, a one on one advert or even a jolly follow up broadcast. In every of this act, one goal should be clear, building the know, like and trust factor, growing your customer base and even retaining them for future patronage or referrals, so you see marketing is the lifeline of every buisness.
The quality of your product or service matters and so does your marketing too because no one knows a silent expert, you have to let your customers know and be strategic about it.
#bmc
#thecreator'squest
#contentwriter
#day2
Uzoagbado Emmanuel
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