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Warning: This is a Marketing 101 explanation, so seasoned Marketeers, please share your knowledge in the comments below.

Recently, I met a few professionals new to building their businesses, however, they have little to no understanding of the importance of marketing. They did not grasp the basic understanding of marketing, why they should be doing it, let alone how they should do it. Thus, I have put together a palatable explanation of what marketing is, why you should market, and how you can get started.

What is Marketing?

The boring but lucid definition of marketing explained by Wikipedia states: Marketing is the process by which companies create customer interest in products or services. It generates the strategy that underlies sales techniques, business communication, and business development.  It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves. The key here is marketing should create value for your customers and for yourself.  

Marketing should create value for your customers and, to a lesser extent, your business. - Zahra Marks, Wonkum

Why should you marketing your business, products, or services?

If you are just beginning your entrepreneurial journey or even if you are an established business, you are probably doing some natural marketing, however I will encourage you to start thinking about a strategic marketing effort. As the famous saying goes, “if you fail to plan, you plan to fail.” You must understand the value your business, product or service brings to your customer. Some key questions you should be able to answer for your business are:

  1. Is my business solving a problem for my best customer?
  2. How is my business perceived in the marketplace?
  3. Who is my ideal customer? (Note: You cannot say everyone, be very specific)
  4. What tools am I using to engage my customers?
  5. What does success look like for my business?

If you have answered the above questions thoughtfully, you are well on your way to success in your business. Now, let’s begin building your strategy. 

Beginning your marketing strategy?

Now that you understand the what and the why of marketing, let me briefly discuss the how. The how really depends on your understanding of your business, products and services, how well you know your customers, and how well you know your customer’s experience. Brian Halligan, CEO and Founder of Hubspot, the popular inbound marketing and sales platform, says:

To be successful and grow your business and revenues, you must match the way you market your products with the way your prospects learn about and shop for your products.

Every business is unique and requires different marketing strategies per entity, just ensure that your business has a unique business objective and you have a heart for industry.

Good luck with your marketing strategy and check back in with us as we will provide you with FREE templates to help jump start your marketing strategy. Subscribe today to get more information!

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