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Marketing Strategy

Importance of Marketing in Business

For any company to be successful, it needs to have a marketing strategy. That involves knowing what your customers want and how to give it to them. Though the advent of the internet has made marketing cheap and easy, it still can pay off to use traditional types of marketing as part of your mix.

Branding

To have successful marketing, you have to have a solid brand and understand what your company is about. If you can't succinctly explain your brand and why people should buy your products, then it's unlikely that they are going to. Any good marketing plan starts with a marketing statement that lays out what the brand is. Then you have to follow that up with any physical branding, such as logos. All marketing efforts should include the branding prominently.

Marketing

Once you have your brand set, you can start to market it. Many small companies these days tend to rely solely on unpaid marketing efforts, such as posts on social media channels. While that is an inexpensive strategy, it also may not generate a lot of business. Numerous research shows that people respond better to traditional marketing such as direct mailings and also tend to respond better to a physical flier or coupon rather than an emailed one. You should make an effort to budget at least some of your money for paid marketing efforts. Even your digital efforts can benefit from being done by a professional, rather than by someone on your staff who doesn't really know what he or she is doing.

Tracking

To make sure your marketing is effective, you have to track it. This can be counting social media likes, hits on your website or keeping track of the actual number of paper coupons redeemed. Tracking helps you know if your marketing is working and where you need to improve.

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