Latest posts by Njeri Mwangi (see all)
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Every entrepreneur’s aim is always to attain the maximum profit. This achievement however is never easy to come by. Some entrepreneurs start the journey to better sales but give up along the way. There are those who do not quit. Those who persevere no matter what happens. They fail but rise up because they know that nothing ever comes on a silver platter.
They are the ones who go through thick and thin to be the established names in the business world. The ones that budding entrepreneurs run to seek advice from, at a fee sometimes .The type that journalists seek untiringly to address their audience on matters entrepreneurship. The breed that exudes immeasurable confidence.
This basically means that there is something in business that they understand and advocate for. Something that is close to their hearts. This makes them step out of their comfort zones, they disrupt the status quo and get to those higher prestigious levels. This points out to having a crystal clear marketing strategy. The marketing strategy brings about a clear distinction among players in the business world. The strategy makes everything they do more effective.
Sadly, many small entrepreneurs get lost in their marketing and lose sight of the most critical elements of the process. They engage in all platforms at their disposal with the aim of getting more purchase traffic for their products. They create Facebook pages, hire online marketers on Twitter, spend huge sums of money creating the business websites, do road shows, engage the broadcast and print media and even try person to person means but all these hardly ever work. They end up stressed, sulk and depressed regretting how they ever thought that they could make it up the business ladder.
It is not that they are incompetent or that they have incompetent staff, NO! All they have not focused on is their marketing strategy. A business will only flourish if the owner understands and implements his marketing strategy articulately.
This strategy entails, first sorting and understanding who the target consumer is and finding out what is of value to them. Finding out what they care about and what interests them. With these, then tailor the marketing messages to capture their attention and translate it to purchasing of the product in question.
The marketing messages should directly address the needs of the target consumers. An advertising innovator by the name Howard Gossage frequently referred to as “The Socrates of San Francisco” aptly put it that people see or hear only what interests them. The rest is, well, nothing.
To achieve this, a thorough market research on the target market should be conducted to find out what intrigues the expected consumers. This way, the marketing massages will be tailored in a way that the to-be consumers are captured and driven to act as per the entrepreneur’s objective, say increase product purchase.
The understanding of the consumers also enables the business owner to know which platforms to use to drive their marketing messages. This is because consumers in the market are diverse and highly segmented. Understanding which media platform to use to propel the marketing message is vital and should never be overlooked.
There are consumers of a ‘product A’ who never have time to listen to the local dialect radio stations, how will such a message reach them? The market researcher should identify which would be the most effective channel to reach out to such a group of consumers. Bottom line is, whenever a marketing message is being designed, the following factors should be considered.
- The target consumer
- Their interests
- The platforms to reach out effectively to them
For a business to flourish it is vital to understand the category it falls in. Is it the beauty products, the snacks, toiletries, the clothes (baby, ladies, gents wear?) furniture, electronics or even the various distinct services? Understanding this will enable a business owner put out clearly the unique identify that his business will be known for. This clear understanding of the vital concept will give your business an upper hand and a better chance to penetrate into the competitive market.
To further sail successfully in the business world, a business owner should understand the competition in the market. They should know clearly how different they are from their business rivals. Not for any selfish reasons but to be well armored to stay afloat the competition. A boxer does not step into the ring without prior knowledge of the abilities and last victories of his opponent, Conjestina Achieng can bear witness to this statement.
Entrepreneurs should invest time, money and labour in market research. Good news is that there are countless market researchers competent enough to deliver. They should be able to identify all the factors mentioned above which are the basis of designing the marketing messages that attract, instill interests that leads to the desire to ‘compel’ the consumer to act!