HOW TO BECOME SUCCESSFUL ENTERPRENURSHIP PART 5- 2022

  

Coming Up With an Advertising/Marketing Plan

 

 

1        Focus On Your Target Customers

Advertisement can be costly. But you can save on advertisement cost by focusing only on your target customers. For instance, it is no longer necessary to extend your advertisement to male audience if your products are targeted to women.

 

2        Know The Trend of Your Target Customers

A good advertisement catches the attention of its target customers. So how can you make your advertisement appeal to your target customers? First, you need to know their likes and the trends that they follow. Use that knowledge to make your advertisement appealing to your target group.

 

3        Analyze How Your Target Customers Are Exposed To Media

Media can include the following: television, radio, internet, and other broadcasts. When making an advertisement plan, you need to know how your target customers are exposed to different media. If you analyzed that your target customers are more exposed to the internet for example, then you should invest more on social media advertisement.

 

4        Consider The Unique Culture of Your Target Customers

Culture greatly affects the taste of people. Therefore, you need to consider the unique culture of your target customers when coming up with an advertisement plan. If you are offering services/products to foreign customers, you will need to do extensive research about their culture.

 

5        Come Up With Promotional Plans

Promotion is different from advertisement. You can use both to your advantage. Promotion is a strategy used by businesses to increase sales during

select periods. For example, offering a discount sale for a day or two is a type of promotion.

 HOW TO BECOME SUCCESSFUL ENTERPRENURSHIP PART 5

 

 

 

Learning Profit Maximization Techniques

 

 

6        Make an Upsell

An upsell takes place when you offer a buying customer an additional product that is related to the product that he/she just bought. If a customer bought a laptop computer for example, you can make an upsell by offering that customer a printer, computer table, and/or laptop bag.

 

7        Do Cross-­Selling

Cross-­‐selling is almost the same in nature to an upsell. But in cross-­‐selling, you are offering an additional product that is not related to the main product. You can increase sales by doing cross-­‐selling.

 

8        Offer Freebies

It may sound like you are giving away things for nothing. But by offering freebies, you can effectively invite more customers. This is also a way to attract new customers and make them try your products/services. Of course, you should only do this once in a while.

 

9        Use Discounts Wisely

Do not just offer discounts whenever you feel like it. Timing is crucial. For example, it is best to offer discounts during paydays and holidays when people have money to spend. It is also good to offer discounts during school vacations.

 

10   Train Sales People

The sales team should be trained properly on delivering effective and persuasive sales pitch.