Every company has a marketing department. The marketing department usually has the highest amount of budget allocated to them simply because no product can fare well without the right marketing and promotion. Therefore, when it comes to marketing, businesses should know which ones to follow and which ones to discard.
Marketing isn’t easy. Find more useful tips on Todd Glassberg `s blog. There are certain things that one has to be mindful off and not everything works. Talking about marketing tips, here are the top 4 ones that every business owner should know:
Pricing: It’s Importance
When it comes to your marketing arsenal, pricing is the most powerful tool. Before you start to determine the pricing, decide what is the main message that you want to set by pricing your product at a given level.
If you are pricing your product high, it means you are selling fewer units. However, a higher priced product is a direct indication of the fact that product is good in quality. On the other hand, low priced products can allow you to break in and dominate a given market and it can help you excel with your competition. However, low prices also mean low profitability in the short run. Therefore, pricing is key and it plays a significant role in how people perceive your product and company. You should make sure that you price your products right and focus on the message that you are trying to deliver by pricing your product in a certain way.
Hold Online Contests
Online contests are a cheap measure of marketing. If you are on a tight budget, you don’t have to indulge in heavy marketing techniques. In fact, you can resort to cheaper ones as well. Holding online contests is one of these measures. If you want to create brand awareness while keeping your budget at a minimum, it is in your best interest to indulge in cheap or cost effective marketing techniques and holding online contests is one of them.
Don’t Rely On One Platform
Many businesses tend to rely on one platform in order to market their business but this is absolutely wrong. As the famous saying goes, ‘pound the pavement’, that is what you need to do in order to market your business well. This means that you should select different measures of marketing and not focus on one. This will increase your marketing base and also create more awareness regarding your product. Focusing on one platform will make your business have a select number of fan followers and will not create as much brand awareness as you like.
Have A Well Connected Network
On the other hand, you should also build a well-connected network if you want your business to grow and expand. Improve your outreach by connecting to as many people as you can. Rather than handing out your business cards to people at marketing events, try to market people directly by deliberately targeting them. One way to do this is to draw up a list of 30 influential people in your marketing place and then put a well sought after plan in order to earn their attention. This particular targeted approach is time-consuming but its rewards are great.
Marketing is key to promote a business and of course, for the success of a product. However, not all marketing tips work and therefore, it is important that you choose the right ones to make your product and business excel.