5 Marketing Insights You as an Entrepreneur Should Know

In the fast-paced world of running a business, you wear many hats, especially when you're just starting out. This article offers valuable marketing advice to help you navigate this crucial aspect of your business journey.

"Amazing things will happen when you listen to the consumer.”

~Michael Hyatt

Why These Truths Matter

There are two key reasons why I want every entrepreneur to understand these marketing fundamentals.

Firstly, having a strong grasp of marketing benefits everyone involved. As someone with a background in customer relations (think "support and assistant" of the client!), I know that smoother marketing translates to a smoother life for marketers when more business owners embrace these core principles. This is where I rely on all the marketers out there to spread the word and encourage business owners to "share, like, and subscribe" to this valuable information. After all, it's ultimately for the greater good!

Secondly, understanding these truths can save entrepreneurs a significant amount of time and effort by helping them avoid common marketing pitfalls. Not every business owner has a marketing background, and that's perfectly okay. Let's trust that this article finds its way to them and helps them save precious time and money, not to mention the inevitable headaches that come with marketing missteps.

1 - Beyond Social Media

Simply posting on social media platforms like Facebook, Instagram, TikTok, or LinkedIn isn't enough to constitute effective marketing.

Let's take Facebook, a giant in the social media landscape. Many entrepreneurs equate social media marketing solely with growing their Facebook presence. It's a popular platform, and it seems like every company feels obligated to be there.

However, the organic reach (the number of people who see your content without paid promotion) of business posts on Facebook is around 1%. Consider this: over 300 million photos are uploaded to Facebook daily. Do you realistically think a single post of yours has much of a chance of standing out?

These statistics alone should make you question the effectiveness of sporadic social media posts for achieving business success.

Here's another crucial point: Likes and followers won't translate into actual sales unless you have a well-defined strategy in place. Without a plan, you're destined to struggle.

A social media marketing strategy starts far before you even consider creating a post. The foundation lies in understanding your ideal customer profile. This includes knowing which social media platforms they frequent, their interests, and what matters most to them.

Here are some key questions to consider:

Who are the typical users of this platform compared to your product or service?
Does your business really need to be present on this specific platform?
Are your posts backed by research, or are they simply off-the-cuff ideas?
Does each post contribute to a larger content ecosystem that consistently delivers value?

Once you have a firm grasp of this information, you can build a comprehensive strategy and distribute your efforts effectively across different platforms. You can then choose the most appropriate content formats for each platform.

Be wary of marketing "gurus" who simply recycle content across platforms without any adjustments. If your marketing professional does this, it's time to find a new one! Imagine me posting the same content from Facebook onto Youtube – it wouldn't be very effective, would it?

2 - Your Logo Isn't Your Brand (But It's Still Important)

While a logo is a significant aspect of branding, it's not the sole defining factor.

Let's use an AI example (since AI talks seem to be quite trendy these days). Imagine using a service like Fotor to generate an image based on a description of a person you have in mind. You type in the characteristics of someone you want to see, and voila, you have a picture – a picture of a person.

But here's the problem: this picture doesn't tell you anything about who this person is, their thought processes, values, or desires. What are their dreams and anxieties? How do they like their coffee? You get the point.

Just like this person in the picture, your brand can't exist solely as a logo. Don't let this article turn into a branding lesson, but remember, if someone is offering you a logo design, make sure they can also help you develop a comprehensive brand identity.

3 - Marketing Starts Before You Even Have a Product

If you're waiting for a specific sales milestone before initiating your marketing efforts, you're already behind.

Of course, I understand that running a small business often involves prioritizing more immediate expenses. However, you don't need a million-dollar marketing campaign to get started.

The key lies in truly understanding your customers and your product. Your focus should be on continuously improving your product to ensure customer satisfaction. Everything else will naturally follow from there.

Ideally, you'd consider hiring a marketing agency or a skilled freelance marketer from the outset. This helps to avoid creating inconsistent brand messaging or, even worse, offering products that nobody wants. Remember, marketing professionals aren't magicians; they can't fix everything. In some cases, they might even recommend rebranding if a product or service has fundamental issues.

4 - Every Customer Interaction is Marketing

Every touchpoint a customer has with your product or service is essentially marketing, and it can be either positive (advertising) or negative (badvertising). There's no "undo" button in real life or business.

Everything you or your employees do, or conversely don't do, along with everything your product or service is or isn't, all contributes to shaping your brand image in the eyes of your customers.

Here are some examples of how everyday actions can influence your brand perception:

An employee driving a company car recklessly creates badvertising.
Failing to respond promptly to a customer email or neglecting to provide clear communication about response times is also badvertising.
Engaging in arguments with customers on public platforms like Google reviews is another form of badvertising.

On the other hand, this article itself (hopefully) serves as an example of advertising. The list of potential interactions could go on and on, and perhaps I'll explore this concept further in a future piece.

5- After-Sales Matters Just as Much as Pre-Sales

Many business owners become laser-focused on making sales, but what happens after the sale is closed? Will these customers return for repeat business, or are they simply a one-time transaction?

It's no secret that acquiring new customers costs significantly more than retaining existing ones (estimates suggest 5-6 times more). We all know this, yet many companies fail to take concrete steps to address it.

There are numerous ways to demonstrate to your customers that you value them and their experience. Even without a large budget, a simple gesture of politeness like following up after a sale to ensure satisfaction can go a long way. Don't wait for negative reviews to prompt action – proactive customer care can help nip potential problems in the bud and build loyalty.

For larger companies with ample resources, investing in customer retention marketing is essential. The bigger the purchase, the more invested your customers are likely to be, and they'll need reassurance that they made the right choice. Your role is to be there and provide ongoing support, confirming that their product or service selection was indeed the best fit. This isn't just a nice-to-have, it's a must-have strategy.

Keep the Customer at the Core

While you don't necessarily need to be a marketing expert to run a successful business, understanding how your actions impact your customers is crucial. When making any decisions related to promoting your business, ask yourself two key questions:

How will this affect my customer?
How will this impact my brand image?

By consistently prioritizing these questions, you'll be well on your way to marketing success. This is the philosophy we embrace at Victory Lane. If this resonates with you, let's connect to discuss your business and marketing strategy. You can reach us via email at [..........................] to embark on your journey to business transformation.

For those who found this article thought-provoking, I invite you to connect with me on Discord where I share bite-sized insights on branding and marketing every week.

Finally, in keeping with our mission to inspire businesses to make a positive impact, I'm excited to announce the launch of a new coaching program. This will be your one-stop shop for actionable marketing secrets designed to help you build a brand that your customers love and trust. Sign up here to join me in transforming the lives of your customers together.

Thank you for reading, if you enjoyed this article, kindly help us to reachout to other people, by sharing to friends and family. And together we can make someone's dream a reality.

Remain blessed, be awesome, and see you in the next one...

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JB Emmanuel

My name is JB Emmanuel, I'm a digital entrepreneur, a business growth consultant, and a personal development coach. I have been your navigator on this amazing adventure, my goal is to to help you actualize your dream of a better life, and financial freedom.

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