“We’re all born thinking like entrepreneurs.” Well-known entrepreneur and marketing expert, Daymond John, is a self-made multi-millionaire who understands and emphasizes the importance of marketing your company’s brand. Anyone can start a business, but few succeed. With proper marketing tools and techniques in place, you can turn your business into a brand that you proudly stand behind and customers eagerly chase after.
As a business owner, your reputation is the basis of your credibility. Without a positive reputation, your business will almost certainly be short-lived. Successfully marketing your company’s brand attracts customers, which, in turn, permits growth. Gain the competitive edge by implementing these seven marketing strategies into your company’s mission.
1. Make a name for yourself
When there is a demand for a service or product your company offers, do customers think of your brand immediately? By taking a unique approach in marketing what you offer, you can differentiate yourself from everyone else. Chances are you’re not the only game in town who offers a particular service, but spinning your sales pitch and proposing specific sub-services will distinguish your business from the rest. For example, a lawyer may offer a vast array of legal services, but advertising help to small businesses facing lawsuits against workplace injury will keep your company relevant as diverse customer demands ensue.
2. Target the appropriate audience
As much as we like to think that our services apply to everyone, that’s hardly the case. Knowing the consumer base for what your company offers is very important when marketing your brand. This links to adjusting your sales pitch by applying your offerings to a particular audience. Example being, if you own a cigarette company or you are a cigarette company sales representative, your target should be smokers. Not everyone smokes, and chances are you won’t turn non-smokers into smokers. Strategic planning now should be going after those who smoke and attracting them to your brand rather than the competitors.
3. Separate yourself from the competition
Why are you the better option? Let’s be honest, no business is completely unique. All companies have competition within their industry. Knowing your competition – and separating yourself from that competition – is what will determine your success. Stay up-to-date with your competition by offering a better service or lower rates on the same product. Be quicker to the punch than your competitor and be the number one source for customers in your industry.
4. Fulfill your demands
Know what you do well, and do it well all the time. When your business makes a sales pitch or a promise, stick to it. Straying from excellence will land you in the bad graces of customer complaints. When customers hear or see that you will perform a high-quality service, they expect exactly that. Repercussions are high if you do not meet client expectations, especially those that were promised. Your word is your reputation – and your reputation is everything.
5. Be personable with customers
Customer service is the number one factor to building a strong reputation. Being polite and honest when dealing with customers goes a long way. There are countless customer basis that remain true to a company solely on customer service. Some customers will even sacrifice price to have good customer service. Not that prices should be automatically raised, but it shows the importance of treating your customers with care.
6. Partner with popular companies
Growing your business is directly associated with growing your reputation. Start by working with companies who have already achieved a prestigious reputation among customers. Develop trust with customers by aligning your name alongside a trusted, well-liked brand in a similar industry.
7. Stay up-to-date
Being knowledgeable in your field is another key essential in defending your reputation and staying relevant in the current market. Keeping up with the newest industry offerings will grow your customer base. For example, in this day in age, if your company is not using social media you are already falling behind the competition and are at a huge disadvantage for potential reputational attack. Yet, some businesses still do not have a Facebook or Twitter account.
New Year’s resolutions can be difficult to keep. But, developing a marketing plan and applying it to your business is a great way to boost morale and enthusiasm for your company this year. Grow your company by enhancing your reputation.
For more information and resources on marketing your brand, don’t hesitate to contact the Fallston Group at 410.420.2001 or via email at firstname.lastname@example.org.