If there is any term or concept any business owner (or potential business owner) should understand deeply, then, thats marketing.
Marketing is the blood of any business (or any organization or association) because its through marketing any business, organization, or even political party convinces the general public (customers) to patronize its offers or embrace its ideology.
So, what is marketing?
Marketing is the process of identifying consumers needs, creating products/services to meet those needs and communicating effectively with the target market in order to sell the products or services at a profit.
The above definition is by no means academic. I expressed it above in a simple term, so as to let my fellow African entrepreneurs understand what marketing is.
If you need a “formal” definition of marketing, then, here you have some of them:
“Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably”… The Chartered Institute of Marketing
“Marketing is communicating the value of a product or service to customers, for the purpose of selling that product or service” Wikipedia
Without wasting more time on definitions, permit me to explain in simple language what marketing is.
Whenever anyone gets a business idea, he/she will have to do three important things.
First, identify the kind of people who may fall in love with his/her product or service. This step is very important because there is no product/service that can get everybody excited… some people will not just love what you are selling or doing.
Second, create such product/service in the exact way as your target market will love it.
Third, promote your product/service to your market whether through advertising, word-of-mouth or sample giving.
Now let me emphasis that many experts try to define marketing by excluding the first two steps (i.e., Wikipedia above). I will not want to agree this is right. The reason is because if you fail to identify your target market, how will you know what kind of product, package, distribution, etc. that will be appropriate for them?
If you dont know this, how will you create your product or service in such a way your customers will admire.
In fact, there is no way you can effectively advertise or promote your idea if you dont have a deep understanding of who you are promoting to.
Promotion that will succeed in South Africa may fail in Kenya… thats the reason why I am of the opinion that marketing starts even before a product or service gets to the market.
Listen to what the management guru, Peter Drucker has to say, “The aim of marketing is to know and understand the customer so well that the product or service fits him/her and sells itself”
Now you see, the first process in your marketing effort is to identify and understand (very deeply) who your customers are. If this stage is carried out with all diligence, the other two steps (creating product/service and promoting it) will be lot easier.
Let me also share with you what marketing genius, Seth Godin has to say about marketing…
“Marketing is a contest for peoples attention”
Whenever you walk out and see billboards, whenever you sit down and watch television, whenever you pick up a newspaper to read, you will find a whole lot of advertising. These advertising are from companies, organizations, political parties, etc.
What are they doing?
Contesting for your attention. Thats marketing.
Since your product/service is going to a market where there are tens (or hundreds) other similar products/services, getting people attention is very important.
There was the old adage that if you are selling something good, you can open your shop in a far place and people will find you.
Maybe in the 15 century. Not now.
In today`s market place where 50 (or more) businesses/companies may be competing in a market, you cannot just start a business and hope it succeeds.
You cannot just start selling a product or rendering a service and expect sales. You have to work it out. You have to be tactical. You have to understand and apply good marketing strategies.
Marketing is important because it increases your sales.
A little change in your advert can increase your sales by 200%.
I have learned a single tip from a friend (just on a phone conversation) that increased the value of my business by more than 100%.
I have read a marketing book that increased the value of my sales and earnings by more than 300%.
That`s the power of marketing, when done correctly.
Sometimes back I was somewhere and noticed there was a sales man marketing his herbal product.
Without thinking twice, I paid a close attention to how he was pitching his product.
Before you knew it, I had pulled out my phone and started jotting down some notes.
Yea, I turned that into a classroom.
I was jotting down his strategies.
For instance, I noticed that he told many stories that were related to the benefits of his product.
I as well noticed that he (tactically) used those stories as testimonials for his product.
I also noticed that he spoke few good things about his business/company (to build credibility).
Other things I noticed about this smart sales man was that he gave discounts (humans love discounts) and he tried to place some “scarcity strategy” somewhere along his pitch.
All the above and few other things are what I learned from the street sales man.
I wish you saw the way I was jotting the notes as though I was in a classroom.
But you see, it was a classroom.
Funny enough, this guy was so good at selling that I later had to buy his product.
Listen.
Selling skills are the most important skills in the realm of business.
You can never be rich, until you learn how to sell.
You don’t have to sell on the street. You may sell using other advanced medium (like the internet) but if you don’t master how to sell, you may never make it in business.
What is the way out?
You can sell the way you were sold.
We all buy stuffs every day from multi-billion companies to street sales guys.
We “fall” for sales pitches every day.
But you see, most of us don’t know how to sell.
Why can’t you pay attention to how you were sold?
Pay attention to what makes you “fall in love” with your favourite brands.
Think deep!
Why do you like Safaricom than Airtel?
Why do you like Coke and not Pepsi?
Why did you buy that wrist watch or handbag the other day (even though you didn’t need it)
It might be because you were pitched by a great sales man.
What am I saying here?
Pay a close attention to your emotions and how they lead to your buying decisions.
If you truly love to succeed in business, you have to be attentive to how you were sold.
The strategies that sold you could be used by you to sell your own products.
I think Africans have no reason to be poor.
