Are you about to start a business? Perhaps you are planning to attend the forthcoming Business Start Up Show at Earls Court in London or maybe you are going to attend an event for Global Entrepreneurship Week as part of your research.
Once you have identified the need you intend to fulfil with your business and established how you can do this with a low cost base the ‘to do’ lists and action points come thick and fast and it can be difficult to maintain focus and keep track of your priorities. Here’s a ‘must do’ checklist from a marketing perspective.
1. It’s all in a name – The name you choose for your company and your website is crucial. Not just for business cards and logos but also for search results and brand building. Wise entrepreneurs trademark their company name from the outset.
2. Online for the bottom line – Most businesses that fail within the first 3 years of trading do so because of a lack of funds. You must find a way to deliver your products or services via ecommerce. The quicker you can get revenue coming in the greater your chances of survival.
3. Sustainable Unique Selling Proposition (USP) – How are you different from your competitors? If you have found a niche with no apparent competitors how will you maintain your predominance when new entrants come to the market? The reality is that most companies are ‘Me too’ businesses but there are opportunities to differentiate yourself from the competition if you look hard enough.
4. Corporate culture – Even though you are starting off small think big and have a vision of what your company will represent. The better you are at articulating this the more successful you will be in recruiting the right staff, business partners and most importantly – attracting customers.
5. Products and Services – If you are truly intending to stand out your product /service offering must be different too. What do your competitors offer? How can you differentiate yourself?
The diligent among you will have already written a detailed marketing plan and that is the right approach but you must be prepared to make adjustments as your sector or niche and competitors respond to your offering.
Food for thought? There are plenty more checklists, marketing tips and action points in the SME Marketing App
Alternatively you could drop us an email via mail@marketingfundamentals.com or give us a call on +44 845 2264247
We hope you find this information useful.
Kind regards,
Marketing Fundamentals Team
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