Basic Marketing

While some entrepreneurs are developing cold feet when it comes to launching their ideas, some are overwhelmed as regarding how to get customers or clients to consistently buy their products.

Overcoming the cold feet syndrome is a story for another day. How to get customers to consistently buy whatever it is you are selling is the crux of the matter. The surest way to doing this is through marketing.

Marketing is a bit complex and involves different components that are essential. Marketing is the process of creating awareness and exchanging your product or service for money. It is as simple as that. Although it involves advertising, promotion, distribution and sales, there are some basic components of marketing that you must know before getting to the complex ones. If you don’t put the basic components in place, which most entrepreneurs don’t pay attention to, it will mess up your entire marketing effort. Here are the basic components.

Number 1-The name of the business, brand, product or service you are selling is very important: Don’t forget this; your marketing starts with the name of whatever it is you are launching. I’ve seen quite a handful of businesses struggling to sell because they have bad business names (forgive the word “bad”). If you are creating a business name or the name for a product or service, make sure it is memorable and easy for people to pronounce. Don’t be foolishly technical or complex. Life is complex and technical already. Be simple and let it interpret whatever it is you are selling. That way your target audience can easily identify with it. Businesses like Apple, Facebook, Amazon, Microsoft, Virgins, are deliberate about their names. If it was a stroke of luck for any of them, then that is genius. The names are simple, memorable and easy for anyone to pronounce. Once such names hit you for the very first time, it will seem as if you have heard or seen it before. The reason is because those words that make up the names are part of your everyday vocabulary.

Some years back, I walked into a Mega Bookstore and introduced myself as the CEO of BusinessIQ Africa (the business name was going through registration process then), and to my amazement the Manager of the Bookstore said “I know that business; it is big.” The truth was; he doesn’t, but the words that make up my business name are part of his everyday vocabulary. That is what happens if you create a simple, memorable and easy to pronounce business name.

Number 2-Your USP is also your selling point. USP means Unique Selling Proposition. It was first introduced in 1940 in television advertising by Rosser Reeves of Ted Bates & Company. Since then, it has become part of every successful advertising campaign. Some entrepreneurs don’t know this; USP summarizes what your business can do for your target audience in one short simple phase. Ignore it at your own peril.

Number 3-Packaging: Packaging is simply what your product is wrapped in. Yes, a service business also needs the right packaging for it to stand out. Your packaging is locked around your brochure, website, business card and office environment. Before people will discover the quality of your product or service, they will need to perceive it. It is called brand perception. This will help your marketing a lot. Once your packaging is spectacular and attractive, target customers will patronize you. You need to pay attention to your packaging, it represents whatever the business is selling or offering.

Number 4-Your office environment matters. Your office environment is either your brick and mortar or online office (website and social platforms). In this age, you need to have both. Whichever one you have or both, don’t forget it is also selling your business. Design or decorate in such a way that it will attract your target audience. It is also your selling point.

Number 5-You and your team: This is a simple fact: you can’t be selling to high net-worth individuals and you are looking like a job seeker. If you must sell to that audience, you must look like them. You and your team must drive good cars and wear decent (or expensive) stuffs. Whatever audience you are selling to, your look must compliment the money you want from them. End of discussion.

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