ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Marketing for Start Up Companies

Updated on January 3, 2015

In the past companies relied heavily on "word of mouth" to market their products and services. Later came the mail order catalogs, billboards, TV ads etc... As times and technology have changed companies have adapted to or adopted new mediums in which to market products and services. Today, they rely on websites, ads, social forums, video and the like to build awareness. Most of these you have come into contact with at some point.

But..."What-if" you are a newly formed company. "What-if" only your closest friends and family are the only ones who have ever heard of your business? "What-if" you have to operate on a tight budget? and "What-if" you haven't the slightest idea how to market your product? "What" do you do?

Check out More on Scott Adams Blog
Check out More on Scott Adams Blog | Source

What is Marketing?

First of all, learn what marketing is and what it isn't. Let's take a look at a few definitions on the subject. The one that sits near and dear is the definition provided by businessdictionary.com. (Marketing defined). An excerpt from this site says, "As a philosophy, marketing is based on thinking about the business in terms of customer needs and their satisfaction." It also points out the difference between "marketing" and "selling."

An alternate definition can be found on Wikipedia (Marketing defined by Wikipedia) and closely defines what you experience in today's marketing environment. Which is Selling.

Now ask yourself when was the last time you bought a product that actually met a need. You walked away and felt like you got your money's worth and were happy with your purchase? When was the last time you felt like you got swindled by purchasing a product that did not meet your expectations? Can you see any campaigning difference between the two?

Please feel free to comment at the end of the article. I'd like to read your stories.

Developing a Marketing Plan

Once you understand what marketing is you will need to develop a Marketing Plan. This is part cosmetic and part business road mapping. Additionally, when you have your plan on paper it is much easier to stay on task, know if you need to change direction, and if you are meeting business goals. Provided below are some helpful resources to get you started.

  • You will want to start with a template. To make it easy Microsoft has developed numerous templates with examples for download. Word, Powerpoint, Excel, Project, Publisher, you name it it's there. Click Here to access Microsoft Office marketing templates. Also, see a Sample Marketing Plan.
  • In 5 Easy Steps to Create a Marketing Plan written by Joanna Krotz, maps out an easy to follow marketing plan guide. Learn the 4 Ps of marketing, SWOT analysis and other helpful tips.
  • The US Census Bureau site will help you gather domestic market information you will add to your marketing plan.

This is an important step in the success of your business so don't skip out on this exercise.

Marketing Tips for the Small Business

  • "Word of Mouth" is still one of the best marketing tools around. As well as one of your most important assets. This not only pertains to the reputation of the business but your reputation as well. It is estimated roughly 95 percent of dissatisfied customers will never complain to you and are more likely to speak of the bad experience rather than the good aspect of a product or service. Advice: Invest in those customer service skills.
  • Your second important asset will be repeat business. Follow the 20/80 rule. 20% of customers will make up 80% of product class consumption. Many of those customers will be second time buyers. Capturing repeat business will involve developing product trust mixed with a bit of personal service.
  • Develop a relationship with your customers, have a mailing list, catalog, flyer's, birthday discounts, do surveys, send thank you notes, etc...These customers will also be the foundation to gain product feedback helping you determine the product's direction.
  • Never neglect your main customers and remember it takes about 5 - 10 times more effort to get the next new customer.
  • Be willing to change your marketing strategy if the motivation of the customer changes.
  • Marketing stragies should be designed to increase not only sales but also your profit. Revisit your marketing plan often to see if you are meeting financial goals.
  • Never market a product or service that you are not willing to buy for yourself or your family. Your attitude toward the product or service will be reflected to the consumer and it can either increase or decrease your chances for success.


Marketing and Business - Other Helpful Hubs



Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)