THE BUSINESS OF MARKETING AND ADVERTISING
Advertising and marketing have been around for ages. What has changed throughout the ages is the methodology that is used to advertise and in its evolution, it tends to follow where the masses are.
Before anyone could afford a car, most advertising was based in the market area where business activities are taking place. Then there came an era where most people are on the road and billboards came to place.
No one would have imagined back then that one day an American could advertise a business to an African while miles away and there could be transactions taking place without having to meet face-to-face or verbally speak to each other.
Marketing requires a budget and it is unfortunate that most entrepreneurs spend less than 1% in marketing and 99% on products and act surprised when their products are not sold. You need to make a special announcement about your product before even selling and that will require a substantial budget. Through marketing, your products can move faster and marketing should be intentional.
Only a shrewd entrepreneur will look at innovative and creative ways that will help bring sales to the business.
EFFECTIVE WAYS TO SELL
- Don’t get stuck on one way
Suppose when you started your business, you were distributing pamphlets on the street corner and you would print “Bring this pamphlet for 30% discount” what happens when the street gets closed by the municipality? Would you continue to wait there hoping that people will still drive by? No. As an entrepreneur, you need to look at different advertising means. If one way of advertising brings you 20% of the sales, then two ways will bring you 40%.
Use platforms such as online advertising and billboards if you can afford them.
- Don’t be complacent
Many entrepreneurs get to a comfort zone; they have no passion to double sales but are happy with what they get to pay the bills. They get stuck in the same strategy of advertising, getting similar results always without thinking of taking the business to another level. Step up and read new trends that will advance your business.
- Don’t focus on getting new clients only
Your advertising should not be one-sided where you promote or advertise only when you have to introduce new products.
You need to bring balance by also promoting existing products.
Remember: We advertise not to sell products always but to also make those who already own the products proud. They smile when they see the product and they spontaneously tell others that they own the advertised product. In your advertising, aimed at attracting new clients and also build customer confidence by advertising what old clients already have.
- Don’t just rely on your website when advertising
Today there is a heavily congested road and that road is the internet, which is a platform you need to look at when advertising your business. Many business owners end up getting a website designed and think they have the market at the palm of their hands.
You can design a website and have 3 visitors a month on that website. You need to advertise your websites online via sites that have a high volume of traffic. When you advertise you just have to mention one product and direct them to your website for details on the product. Your website alone is not enough to create the sales you expect.
STRATEGY FOR SOCIAL MEDIA
This question has become more prevalent in a business circle than the business card question. You need to optimize your social media presence by promoting your business and service also. You are the number one ambassador of your business and do not expect someone to talk about your business better than you can as the business owner.
I hope that this will help you make sales easier by advertising your business on all platforms and avenues available.
Derrick Ndzavi is an Entrepreneurologist, a founder of Mentors Without Borders. Ndzavi is also a Certified Business Advisor with the Institute of Business Advisors SA which is SAQA regulated.