Where to Start with Marketing your Business

When you’re running your own company, it can be a challenge to keep on top of everything. Time and resources can be stretched but you know you need to market your business to help it succeed. The goods news? You’re probably already marketing and you haven’t even realised.

Here’s the marketing textbook bit (stick with me, folks)… The Chartered Institute of Marketing defines marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably”. So, congratulations! You’re already instinctively marketing if you’re improving and developing products, getting to know your customers and figuring out what’s important to them and, trying to meet their expectations.

To help you make a formal plan for marketing, there are some things that would be handy for you to consider. Introducing… the 5 Ps.

Product

Sounds like a no-brainer but make sure you’ve got a product that people want to buy. Think about how you’re servicing your customers’ wants and needs and, the quality and value of your product. Remember, check in regularly with your customers to make sure you’re giving them what they want.

Price

Think about what customers will pay for your product. Is it the cheapest on the market or is it a premium product that customers might shell out a bit more for? Could a more expensive product challenge cheaper rivals with better customer experience and quality? Have a read of our blog about pricing for some tips. 

Promotion

Tell everyone what you do and what you’ve got to offer. Your job is to persuade people to choose your product over another, so you need to grab attention and spark interest. Think about your branding, company identity and advertising channels. Consider how best to reach customers – through your website, social media or through traditional print media. The important thing is to be where your customer goes. Your website may well be your customers’ first experience of your company so make sure it’s visually appealing, easy to navigate and up to date.

Place

Getting your product to the right place, at the right time is key. Consider where your customers can buy your product and how you distribute it. If you’re going to sell in shops, how will you reach retailers? (Hint, hint… the Product Guru platform can help you with that)  If you’re in e-commerce, your website is your shop window and needs to be optimised for mobile to make sure you’re visible to those of us scrolling our phones for hours on end!

People

Your people (or if it’s just you, your person!) are so important to how your business is perceived. Customer satisfaction is everything. Make sure you’re creating a positive customer experience with an upbeat attitude, prompt response times and excellent aftercare. A happy customer is a repeat customer and, best case-scenario, an advocate for your brand.

Considering all 5 Ps will help you with your marketing planning.

If you fancy throwing another “P” into the mix, consider our Product Guru platform. Our platform allows you to showcase your products to relevant buyers who are actively looking for products in your categories. Find out more.