20Jan 2015

Marketing Your Business – Know Your ‘Why’

And my 5 top tips to start your marketing plan.

It’s the start of a new year, new plans and goals have been set and you have started to market your business with great gusto!

Marketing your business - know your why Female Business Hub

Marketing your business means different things to different people.  I thought I would take a moment to dissect its meaning and look at the fundamentals of a basic marketing plan, whilst sharing my top 5 tips to getting started.

Marketing

ˈmɑːkɪtɪŋ

noun

“the action or business of promoting and selling products or services, including market research and advertising.”

Marketing basics covers what’s known in the industry as the “4P’s” of your marketing mix.  These are the basic foundations of your activity and will help you decided where and how you market your business.  The marketing mix is made up of 4 basic elements and this can cover an existing business or your new business start-up:

Product – what product or service do you offer, does it fulfil a need and what does it look like?

Price – important to get your pricing right. Does your pricing cover your costs?  Will you add value to your ideal client?

Place – this covers decisions about how to get your product or service to your client. Do you need to rent a shop, buy premises or offer a virtual service?

Promotion – what tools are appropriate to get the messages across to your ideal client? Social media, advertising on the radio, magazine advertising, the list is endless.  You have to think about what is right for your business and ultimately where your ideal client hangs out.

Now that you have thought about these 4 basics, time to start your planning.  This doesn’t have to be pages and pages of information, just enough to keep you focussed on what you are trying to achieve.

Before you start, know and understand your ‘WHY’.  Know your “why” – this is one of my favourite TED talks by Simon Sinek – hugely powerful if you know your ‘why’!

So, my top 5 tips to start your marketing planning session:

  1. Clear a block of time out in the day and commit to thinking about your marketing plan. No phones, emails or interruptions.  This is an important investment in your business.
  2. Get into the head of your ideal client
  3. Nail your mission statement and core values and live by them.
  4. Research, research and research – Google is an amazing creature, there is so much information out there – on your competitors, on your product or service, everything!
  5. Stop procrastinating and just do it!

This is just the start of your marketing plan; I will delve into it a little more in coming blogs. I would love to hear how you are getting on if you are an existing business with a rock star marketing plan or if you are a new business or you just have a business idea you want to brainstorm.

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Live, laugh and love

Janine

 

Janine Beattie - Female Business Hub Co-founder

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