Top five tips for marketing
When you set up a business, it can be difficult to know which marketing channels will deliver the best results. You need to decide how much time and energy to put into each one, and how to make your budget stretch. In our previous blogs we’ve already written about the legal considerations behind marketing such as branding, patents, data privacy and information law (GDPR), so bear this in mind when developing your initial go to market plan.
Before you begin, make sure you know your audience. In fact, this is an important step when starting up any new business, because contrary to what a lot of people may think, you are not aiming your goods or services at everyone.
Many new businesses like to think about their “ideal customer”, considering things such as age, interests, budget, responsibilities, goals, problems and fears…
- If you’re targeting individuals: what gender, age and occupation?
- If you’re targeting businesses: what sector, size and the kind of business they are?
It may sound silly, but can you imagine what they look like, their behaviours, how they spend their spare time and what motivates them? If you can, then this is a good sign that you are beginning to paint a better picture of who your ideal customer or “target audience” really is.
Also check out the market and competition. It’s worth seeing what your competition is doing and how you can make yourself stand out from the rest. This will further inform your marketing.
Having considered the above, and when developing your marketing plan, don’t spread yourself too thinly and keep this simple, manageable and focussed. You’ll learn what works and what doesn’t along the way and so can build on this as your business grows. Whilst we appreciate that every business is different, here are our top five marketing tips to consider:
1. Develop your profile and brand — your website might be the most obvious one, but also try and get yourself a speaking slot at events to showcase your expertise, use social media, external blogging sites (like this one…)
2. Find your customers — before you can do this, know who your customers are — the ideal customer for your business would be [x] and have [y] so be as specific and targeted as possible. Then find out where they are
3. Build your connections — by networking and building your referral contacts through word of mouth! Face to face can work just as well as online
4. Make social media work for you — write about what you are doing, post comments and follow/share on channels that work for you such as Twitter, LinkedIn, Instagram
5. Go digital — unless print is your way of reaching your target group, many early stage businesses find it more cost-effective to email, blog, and produce e-publications to market themselves
Finally don’t forget to make sure you are delivering your products and services to meet your customer needs — so focus on quality and customer service! After all, you want to win and keep your customers — as they are the lifeblood of your business for success.
Please contact the Trowers team for more information. We have also produced a series of fact sheets to help you, so click here to access our online resources.
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Trowers & Hamlins LLP has taken all reasonable precautions to ensure that information contained in this document is accurate, but stresses that the content is not intended to be legally comprehensive. Trowers & Hamlins LLP recommends that no action be taken on matters covered in this document without taking full legal advice.