Elements of what successful marketing requires

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BOTI’s marketing and advertising courses, social media marketing courses and digital marketing short courses: knowledge at your fingertips – Elements of what successful marketing requires

Successful marketing is not about bewitching your customers with fanciful campaigns purely to get their attention.  Nor is it about blinding them with science.  Marketing is like any process, if you want to reap a bountiful harvest, first plant the seeds, then tend to the crops and at the end of the season your efforts will bear fruit.  So, where do you start?  BOTI’s marketing and advertising courses, social media marketing courses and digital marketing short courses are what you need to start you off on your journey.

 

Your starting point from there onwards should be a well thought out marketing plan.  Doing business without one is like sailing across the ocean without a compass.  You may sight land eventually, but you run the risk of making costly and time-consuming errors along your journey.  Therefore, your marketing plan is your compass that points you in the right direction from the word go, helps you to find your true north per se, and ensures that you avoid the icebergs along the way.

  • Charting territories

Your marketing plan should enable you to chart the territories you would like to explore.  It should clearly demonstrate how you will attract customers and persuade them to come on board with you.  It also builds confidence with financial institutions in showing them that your business has a good chance for success.

Your marketing plan is not a once-off document that once drafted sits in the filing cabinet.  Instead, it is destined for greater things.  It should be updated regularly to include the changing needs of your business as well as those of your customers.

  • What does your marketing plan consist of? Weaving marketing magic

A situation analysis will shed light on the situation

To shed light on the situation, many businesses use a situation a SWOT analysis, which involves an analysis that assesses the company’s Strengths – Weaknesses – Opportunities – and Threats.

A SWOT analysis involves identifying who your competitors are, acquiring an understanding of how they operate and familiarising yourself with their strengths as well as their weaknesses.

Enrol on one of BOTI’s marketing and advertising courses, social media marketing courses or business short courses now!

Profile your target market

  • Paint a portrait

Paint a portrait of your target market by including basic demographic information that portrays a clear picture of your customers.

  • Estimate the demand

Research the estimated demand for your product or service as well as the estimated demand growth rate to build confidence in prospective financial partners in order to demonstrate that your business shows a real potential for growth.

  • What makes your customers tick?

It is vital that you establish what makes your customers tick and what motivates them to buy.  Pleasure?  Savings?  Necessity?  Simplification?  Similarly, what would keep them away from competitors?  Costs?  Undifferentiated products.  BOTI’s marketing and advertising courses, social media marketing courses and digital marketing short courses are designed to teach you everything that you need to know.

  • Establish clear, concise marketing objectives

Be clear and articulate the desired outcome of your marketing plan that features realistic, attainable objectives with dedicated targets to be reached within a specific and achievable timeframe.  Use marketing metrics, for example, examine total market share and market segments, the total number of customers and percentage who have been retained.

Enrol on one of BOTI’s marketing and advertising courses, social media marketing courses or business short courses now!

  • Develop a suitable marketing strategy

Having determined your marketing objectives and targets a suitable marketing strategy should be developed in line with your target market profile, and an understanding of how different media reaches different audiences.  Don’t make the mistake of assuming that large sums of money have to be made available for costly advertising campaigns.  With BOTI’s marketing and advertising courses, social media marketing courses and digital marketing short courses you will learn how to effectively allocate financial resources.

Enrol on one of BOTI’s business short courses, marketing and advertising courses, social media marketing courses or business short courses now!

Costly options typically involve sales promotions, advertising and Public Relations (PR) initiatives.

Low-cost marketing strategies can be used effectively to reach niche audiences, for example via email.

Networking and referrals are typical examples of low-cost methods of reaching customers and digital marketing plays a pivotal role in demonstrating a powerful, inexpensive and highly effective way to reach your target markets.  BOTI’s marketing and advertising courses, social media marketing courses and digital marketing short courses will equip you to handle all platforms.

  • Do the math – get your financials in order

It goes without saying, that a marketing plan that doesn’t include the math holds little sway in the overall scheme of things.

Make sure to include a budget as well as a sales forecast which should be kept simple.  For instance, provide details around such things as:

  • Projected sales
  • Price
  • Production costs
  • Operational costs
  • How much funding needs to be raised

A break-even analysis should also be included.   This reflects the required sales turnover your business will need to generate in order to cover operating costs.

Enrol on one of BOTI’s business short courses, marketing and advertising courses, social media marketing courses or business short courses now!

 

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