About marketing and business

It is undeniable that people make a livelihood from their enterprises, but over time, they would like to attract more clients and yield higher profits.

How can one deliver while also taking their business to the next level? That love for one’s firm can be conveyed to potential customers in such a way that it not only piques their attention, but also motivates them to act and become devoted clients.

It everything comes down to publicity, advertising, and marketing. Businesses have no choice but to put in additional hours and raise awareness about their products and services. Making sure that it experiences a significant increase in demand for product or services and as a result, its sales will skyrocket.

There are precisely lots of diverse marketing and promotional plans that are being applied by businesses today. Everyone is in an excellent position to know the best marketing strategies that would yield the most significant return on investment depending on the type of business. Proper planning will finally lead to business gain.

Keywords: marketing, advertising, campaigns.

Marketing

A marketing strategy should focus on the 4ps product, price, place, and promotion. There are core strategies that have been proven to be most effective and efficient regardless of the industry you have possibly ventured into.

Marketing Strategies

Networking strategy

Networking is a combination of social and economic factors by which businesspeople and capitalists meet to form business affiliations and to identify, produce, or act upon business prospects, share relevant information and pursue potential partners for courses. Networking is quite important as most consumers today prefer to meet and discuss long-term relations on a one on one basis.

As an entrepreneur, you have to show up at social places where most of your potential customers are hanging out.(Hart, 2017) Networking not only involves grabbing some coffee, shaking hands and issuing of business cards, but for better results an entrepreneur needs to know his customers better, engage in conversations and build strong connections for lasting relations.

Direct Outreach strategy

Direct outreach is much more natural nowadays due to the availability of social networking and the internet. You can find common ground and build connections quickly via the internet. Getting to know someone today may not take much of your time and effort. You can use social sites such as Facebook, Instagram, LinkedIn and Twitter to identify people’s interests and areas of specialization. You will also have a clear view of them and get to understand them better before you engage or reach out to them. Consider their beliefs, ways of living and cultures.

Referral strategy

This strategy is more traditional as compared to other approaches. One may think that it is of little value, but the truth remains that word-of-mouth marketing is one of the most efficient and effective strategies. 92% of today’s consumers confess that they trust referrals from people they know. Customers who are referred by friends are four times more likely to purchase a given product. 77% of consumers say they are more likely to buy a new product after confirmation or advice from friends or close family members.

This can also work very well on social media. People can view, like and share posts about your product.

Referrals are extremely useful, to yield better results out of this, give out your references first, and then ascertain the welfares your customers have to offer and be substantial with your approvals.

Speaking strategy

Speaking can both be face-to-face or online depending on the type of audience

To begin, first be ready and understand your topic well, develop empathy, smile where necessary, maintain eye contact, practice and avoid unnecessary words. You can then later evaluate your performance. The most important thing here is to get the right audience.

If your target is based on online customers, you can convey powerful messages through online presentations and video-conferencing.

To make this strategy more useful, you should not handle it on a random approach. Base your presentations on a strategic plan. Communication with customers should not come to an end immediately after your submissions, but you should strive to build lasting contacts and connections. This can be achieved by executing a follow-up system to establish permanent relations.

Writing strategy

To keep your readers more interested, you should consider having a charming opening sentence, a sense of direction, an attitude of sincerity, the importance of an outline, timing and don’t forget to have fun.

Writing involves more than just the publication of content, blogs or articles. It’s about mounting and executing a gratified marketing strategy. You should always post continuously on your blog and have material which is accessible and downloadable at all times.

In most circumstances, writing is a tool for thinking, expression, and creativity. It is quite dominant as it gives excellent reflectivity and permits you to create reliability. Eventually, your content will act as a base to help you cultivate relationships. To achieve this, focus your material on sharing resolutions whose primary objective is to address the opinions of your perfect customers

Web Strategy

A web strategy is an enduring calculated business plan demonstrating how to construct and improve a business’s online existence observing to the business expansion strategy. The Strategy must meet three objectives: Users, Business, and Technology for it to be successful.

A well-planned website ultimately gives you a competitive advantage over other competing sites.

Categorize your customers

Put your customers under different groups as they are not all the same. You can diversify them into new, old, frequent and influential customers. Address the needs of your customers differently and in a satisfactory manner. Most websites only focus on maximizing sales. (Ayo, 2008) Improve your site by implementing a direct customer support where you can interact with your customers by answering frequently asked questions.

On your website, design an action you want the user to undertake on every webpage. A customer might not know what to do, and failure to incite a response might make the customer move to another website. Strive to ensure that every visit in your website is a success. You can achieve this by trying to get a phone call, distributing a newsletter and making a client subscribe.

Outline a plan on how to increase visitors and create traffic on your website. You don’t have to rely on search engines like your competitors are doing. Set goals and strive to achieve them. Without goals, you will not know which direction to follow.

Learning from your competitors, will also make you move a step forward as they are too striving to make the best out of their websites. Be unique on how you handle your website. Let there be a reason as to why a customer has to refer a friend to your site.

Always keep in touch with a promotion.

You must communicate with potential customers if they must feel comfortable purchasing your products. You can achieve this by updating them on arrival of new products, offering good public relations, sending them helpful notes, distributing presents like magazines and calendars for free. You can do this continuously by sending SMS messages, mail, or by only making a phone call. For customers who may not have access the internet, you can keep in touch by doing road shows printing T-shirts and displaying posters.

If you continue doing the above, you will remain top of mind, and when the time comes, your potential customers will look no further when it comes to purchasing products.

Calculating the Return on marketing investment

It is essential to have a return on marketing investment goal. This will assist in calculating the amount of money that one should spend on marketing. Every business should be confident that the amounts spend on marketing will eventually yield better returns.

How to calculate The Return on investments in marketing

You simply take the sales advance from that business, deduct the marketing costs, and then divide by the marketing costs.

(Sales Growth - Marketing Cost) / Marketing Cost = ROI. (Return On Investment)

(Sales Growth - Marketing Cost) / Marketing Cost - Average Gradual Sales Growth = ROI.

($150,000 - $100,000) / $100,000 = 50%

Marketing plan for Mercedes

Mission statement

To delight our customers in everything we are doing. (“Slideshare.net”, 2015) To continually improve the effectiveness of our Quality Management System and our business processes. To continually improve the quality of our products and services.

Establish niche markets. This includes sportiness and utility

Services geared on customer gratification and commitment to proposing tailor-made movement solutions.

Spelling out marketing and advertising schemes

Recognize and understand the competition of Mercedes

Launch marketing goals that are measurable.

Core unified message. With durable products and advanced products, we are manufacturing and producing stimulating first-class automobiles, first-rate trucks, vans, and buses.

Conclusion

Succeeding in your business is not all about money, you need to outline your goals and objectives and plan for an implementation process within a given timeframe. Your marketing strategy and plan should be your primary map. If you don’t have an approach, then you’re like a tourist on a motorway without a direction and a route. You might blunder upon your starting point, and your expedition is going to be long and problematic occupied with wrong opportunities and dead conclusions. However, by mounting a marketing strategy and plan, you are going to be like the tourist that has both a plot and a well-thought-out route. You will arrive at your endpoint or meet your specific goal promptly.

References

Ayo, A. (2008, April 27). What is Web Strategy and why is it important. Retrieved from

https://www.ayoswebdesign.com/2008/04/what-is-web-strategy-and-why-is-it.html

Hart, S.C (2017). 6 Core Marketing Strategies Guaranteed to Attract Clients for Small

Businesses. Retrieved from https://smartsimplemarketing.com/small-business-marketing-

Strategies.

MERCEDES-BENZ Mission Statement.(2015, October).Retrieved from

https://www.slideshare.net/Bplans/25-mission-statements-from-the-worlds-most-valuable-brands/29-MERCEDESBENZMission