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When you start a new business, there’s a lot of things to do, from creating a business plan to deciding upon which products or services to sell, sourcing suppliers, obtaining credit, launching a website and gaining social media followers with regular posts on all the major platforms.
These can all go a long way to help a startup achieve success, but ultimately, they’re likely to fail if one further ingredient isn’t added: marketing. Here’s why you need to make marketing your number one priority in the first weeks and months after launching a business.
Getting Yourself Noticed
Whichever sector of business you plan on entering, the fact is that you’re going to find competition fierce. The benefits of starting a business and becoming an entrepreneur can be huge, and as increasing numbers of people realize this, the race for a finite number of customers becomes ever more competitive. To stand any chance of achieving significant sales you need a great product that people know about – the first part of this equation is down to you, but the second needs marketing experts on board. A modern marketing campaign could involve social media, direct marketing tactics, or both, but it has to be vibrant, instantly engaging and consistent. Ticking all three boxes can quickly get you noticed and put you ahead of other businesses in your field.
Building A Brand
Another way to differentiate yourself from the opposition is to have a brand that’s recognizable and trusted, but most startup entrepreneurs don’t yet have the skill or experience to do this. A highly qualified business and marketing professional with a master of business administration degree from Northeastern University Online will know how to make the most of your unique story and turn it into a winning brand that can be reflected throughout your business as a whole. Having a brand is a great way to build customer loyalty and achieve much-needed repeat sales, so expert marketing and business advice can set you on the road to sustained success.
Discovering What Consumers Really Need
One thing above all others is the key to business success and profitability: have a product or service that provides a unique solution to a genuine consumer problem. It sounds simple, but achieving it can be difficult, especially if you’re only guessing about what consumers want or basing it on your own desires. That’s why consumer research run by marketing experts is so important for a new business; it will reveal opportunities you may not have considered previously at the same time as ruling out products or services that you may wrongly have thought would prove popular.
Among the skills learned on a master of business administration degree from a leading institution such as Northeastern University, marketing is especially vital for a startup business, so if you don’t have the necessary experience or expertise yourself, don’t be afraid to call upon outside help. In business, it’s important to hit the ground running and get on the right track from the very start, and a strong marketing presence based upon carefully targeted consumer research can help you do just that; it’s like a geo-tracking system for your business that helps you get where you need to be.