Simple Biz Tips How to revive a dying business (Part 2 - Marketing)

How do you intend to make sales if people don't know about your product or services? Why open a business if you don't intend to sell?

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- Marketing

The purpose of a business is to create and keep a customer,” - Brian Tracy

So you got a great product I don't know about, nor your friends, nor their friends, nor their friend's friends, talk less of strangers.

How do you intend to make sales if people don't know about your product or services? Why open a business if you don't intend to sell?

ALSO READ: How to revive a dying business (Part 1)

Do not expect because you are now in business, those customers will flock to your doors automatically. You have to announce to your prospective customers that (a) you are open for business and (b) why they should want to deal with you.

The best selling products are not necessarily the best, they are just better known.

While TV, radio, and print are great ways to market your products or services I personally prefer online marketing and advertising.

Advertising play

Advertising

(Premier Business Experts)

 

Advertising online has certain benefits that offline advertising lacks. Such benefits are:

1. It's Cheap

Unlike TV where you can pay as much as N500,000.00 for a thirty second spot, online marketing is cheap.

The cost of advertisement online is based on user activity. In other words, you only pay when someone clicks on your ads (Cost Per Click) or for every one person that sees your ads (Cost Per Impression).

The price you pay generally depends on your keywords, the niche you are in and the country you target.

How to revive a dying business (Part 2 - Marketing) play

How to revive a dying business (Part 2 - Marketing)

(Feng Office )

ALSO READ: 6 businesses that once made you rich in Nigeria

2. It can be targeted

The greatest disadvantage of offline advertising is it's "Fishing Net" model. In order to get enough people to buy your products, you need a lot of people to see your ads thereby increasing costs. This is a highly inefficient model.

With online advertising, only those with an interest in your kind of products or services are the people who get to see your ads.

These people are either looking for solutions to problems related to your niche or you are sending them ads based on their interests and online activity.

For instance, if a user has shown an interest in any scholarship sites, then ads related to scholarships are shown to him.

You are not just sending ads blindly, you know where and who your target customer is. This leads to a higher Return on Investments.

Branding Illustration play

Branding Illustration

(Colorado Culture)

 

NB: For your marketing campaign to be effective you should brand your product efficiently. Your product name and design should capture the attention of your target customer at the first glance.

This is a key and fundamental aspect of any marketing campaign. Naming the same book "My Dad said it" or "Meet My Dad, the Liar" will have different effects on the sale of the book.

Always consider your target customer while naming and designing your product or service. You can get more branding help here.

To be continued.

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