The Marketing Intent
“Marketing is the strategy whereby you get the customer to KNOW you, TRUST you and eventually BUY from you”
It has always been vital for a business to have a marketing plan. It helps you promote products and services in your business that meet the needs of your target market. It’s a very valuable process that can greatly contribute to your business success. Over time, Marketing has shifted from just poster ads, billboard ads, etc to, the digital space. Which mainly consists of social media, websites, youtube, email marketing etc. With more people having access to the internet, digital marketing has been a trailblazer for the past few years and definitely will be in the years to come.
The industry is becoming more competitive with many competitors entering the industry and striving to be the market leader by introducing new products, reducing prices, etc. With the industry becoming more and more competitive, business owners are focusing more and more on their margins.
It’s vital to develop and offer more services than just our products in order for us, as suppliers and service providers to stand out and also for the survival of the businesses.
Small Business Marketing Intent
Larger businesses such as coca cola, don’t have to focus on whether their marketing techniques work or wonder through which medium they gain customers the most, because they’re past that point. However they have many other things to worry about, such as satisfying shareholders, higher management, and creating attractive and noticeable marketing campaigns.
Small companies however need to focus on much different things such as making sure every cent spent is somehow turned into a profit, making sure you know where your customers are coming from in order to be able to use marketing techniques more productively. Small companies need quick conversions and even higher conversion rates. Therefore it is more recommended for small companies to not try to compete with big companies in big markets but instead for small companies to operate in small markets with other competitors of their scale. However, small businesses can compete with large markets by starting to target niche markets at first.
Target Market
A target market refers to a group of potential customers to whom a company wants to sell its products and services. This group also includes specific customers to whom a company directs its marketing efforts. A target market is one part of the total market for a good or service.
As a small business you need to make sure your customer base knows you, likes you and buys from you.
Points needed to remember:
- Look at your customer base
- Check out your competition
- Analyze your products and services
- Choose demographics to target according to:
- Age
- Location
- Gender
- Income Level
- Education Level
- Marital or family status
- Occupation
- Ethnic Background
- Personality
- Attitudes
- Values
- Interests/hobbies
- Lifestyles
- Behavior
Refer to my article “Defining your niche” for the continuation of this article.
