Your Executive Secretary previously wrote a blog post about Branding or Rebranding – Choosing a Name, where we looked at the questions to ask yourself when Branding or Rebranding and Choosing a name for your business; now I want to look at the Marketing Mix of your Business and the questions you should be asking yourself. There are no right or wrong answers to the questions here, these are just questions you might like to think about when working out your Marketing Mix.
Who are you selling to?
Understanding your customers affects everything else that you do within your business. Knowing your customers will dictate / determine your price and then ultimately your profit. It will driver your sales and how you develop your products and even how you market your products, business or self.
What is your Target Market?
Are you trying to have a small bespoke market who are willing to pay a little extra for your specialized product or service or are you trying to attract a mass market and therefore happy to offer a cheaper product or service.
Do you have a niche?
Do you want to work with a particular type of client or do you offer a service that no-one else offers and therefore you are the specialist? By having a niche you can target your marketing activities around that niche. So if it’s a particular industry you can concentrate on being in those areas or advertising in industry specific type of magazines/literature where that industry hangs out. Or if you offer a specialist service / product and you can be the “expert” in that field, people will respect you for that and be prepared to pay more.
What size of business do you want to attract?
Think about are you selling to individuals, other professional, Sole Traders or small/medium/large businesses. This really depends on what it is you are selling but if you are a small business wanting to work with other small businesses/Sole Traders you need to target your marketing to that particular audience.
What do you actually provide your customers?
This is not as easy a question to answer as it sounds. Are you providing security, work/life balance? Does your product or service allow them to concentrate their efforts on something else, free up their time. Think of the benefits you bring and use these in your marketing efforts.
The above all sounds relatively simple but I don’t believe it is – I know when I answered these questions for my own business, I then re-visited them in 2 other guises – although the questions were similar they were asked in a slightly different way, so got me thinking about the business in a different way. These other questions can be described by the 7 P’s and the 4 Quadrants – which I will save for another day/Blog.
Your Executive Secretary loves working with Businesses on their Branding and Rebranding, it is great to see something start as an idea or concept and then develop into a business. So if you are looking for someone independent to help you with your Branding or Rebranding of your Business, then please give me Amanda a call on Freephone: 0800 612 5596 to arrange a no obligation chat.
I would also love to know either in the Comments section below or on Facebook/Twitter, how you came about the name of your business, any hints, tips, that you might like to share with others on Marketing your Business – what has worked for you and what hasn’t?