I love getting questions from readers, fans and followers! I got an interesting question over the weekend and just had to share it because it really made me sit back and think. The question was “What is the best way to market my business?”. It's a good question but a pretty broad one. Marketing for each business is different because of the type of business and its industry. Although there is no specific answer, here are 5 questions to ask yourself when preparing to market your business.
5. What is my purpose?
Many entrepreneurs go into business because of an experience they had.
Sometimes, it's not the best reason to go into business. You have to be passionate about your business. This will help get you through the non-fun parts. Knowing your purpose also helps you stay true to the mission of the business and what you are trying to accomplish.
4. What is the need?
What is the problem that you are trying to solve? What solution are you offering to customers to lessen the burden of this problem? For example, mosquitoes are a big problem in North Carolina. That's why I love the service the Mosquito Squad offers. Every 21 days they spray a barrier around the home to get rid of 90% of the mosquito population.
3. Who is my target audience?
You hear this question a lot but it's a great one. You need to know who is going to purchase your products and services. What do they like to do? Where do they enjoy spending leisure time? What are their habits? Be as specific as possible. Your marketing budget will thank you for answering this question.
2. What is your marketing budget?
So many businesses never establish their marketing budget. They go from month-to-month or from sale-to-sale, never planning how their marketing dollars are going to be spent. This is dangerous because you could spend more money on your marketing than the income of the sales that you are generating. Not planning your budget can be a cash flow issue. Plan your marketing budget to track your efforts accordingly.
1. How much time do I have?
This is the biggest question that most entrepreneurs, especially solopreneurs, do not ask themselves. Time is the biggest factor when planning your marketing. It takes time to set-up the marketing plan and implement the strategies. Check your calendar and planner to make sure that you have time for your company's marketing.
Is there another marketing question that you ask yourself or your staff? Let us know in the comments section. Which one did you like most?
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