Basics of a good marketing strategy are researching the demand of one’s product, potential buyers behaviours and their online presence.
Product demand research
When you’re starting out with your own business or you’re working in sales, first thing you need to do is check out is the product you’re selling profitable? That is the start of a good marketing strategy. marketing strategy
You’d say it’s easy to know whether the product is profitable or no, e.g. you can see others selling it easily. True! But, consider the fact who is making money out of selling this specific product?
If the seller is already established as an authority, then you should check are there not that known (established) companies making money out of selling the same product?
If, no, the chances are, you’ll be struggling with selling your product and it will the you a lot of time and money to make an income.
Let’s say you have an amazing ideal, but, you can’t find anybody or rarely someone selling that same thing, you should be realistic an pic a new product.
Potential buyers behaviours research for good marketing strategy
To make your marketing strategy good, you should, next, make a thorough research of your potential customers behaviours.
There are 4 main categories:
Where you your potential customers live, what is their gender, what are their interests and how old are they.
One has to make an assumption that the product isn’t meant for everybody, it’s not useful to everybody, so do your research on where do those people live. Do they live in a city or in a rural place? In what city do they live, in what neighbourhood do they live?
What is their gender? Well, think about it, it’s more likely moms will be buying skirts for girls than boys…
What interests those people? Think of the similar interests regarding to the product you’re selling. For example, if you’re selling a meditation program, your potential buyers might be interested in yoga.
And the last thing for good marketing strategy regarding potential buyers interests in age group.
Well…people in their 20s, 30s, 40s, 50s…don’t share the same interests.
Youngsters care about finding the love of their life, partying and studying.
People in their 30s are focused on their careers and kids.
People in their 40s care about leaving the “love of their life” ;), changing their jobs, rethinking their life decisions.
Old(er) people are now more concentrated on their well being.
This is why you need to focus on the age range.
This means doing the research of what do your customers read, what type of content, when and where?
Are they reading content on news portals or social media platforms?
Which social media platforms?
Do they post? How many times per day and at what time of the day are they spending the most time online? What type of the device are they using? Desktop, mobile or both? Are they Iphone or Android users’ How often do they buy a new phone? Depending on the last one, you’ll be able to determine which are their finances…