Marketing Skills For Entrepreneurs

1. Introduction : Hello everyone. My name is unfortunately mentally Pima. I'm currently based in lasso tool. And in this course, I'll be sharing with you marketing skills. This course is for everyone who's never interstellar business. Or maybe you're already in business and your strength of marketing is lucky. This course is for you. My first lesson for you, be quiet unit, my kitty. And it's playing. 2. Why Market?: In this first lesson, I'll be sharing with you, answering the question, why? As a business person, do you need business marketing, or do you need marketing strategy or marketing plan? Or Festival marketing plan must be part of your business plan. Otherwise, how would people know about your business services, what you have to offer? And the root of that is marketing. Marketing involves all that is invoked. Megan O'Neil, services or product to your target market. And so we needed we needed because we want people to know it so that people become our customers. We want to be time marketing saves time and resources. It saves money because no sooner you provide services, you want people to start buying your services. And how you get the word out to people via my kid T. And we need marketing because we want to make profit as soon as possible. And these are the main reasons why we need marketing. In the next lesson, I'll be sharing with you about marketing philosophy that as a business person, I mean, you need to really be aware of. 3. Effective Marketing Strategies: In this lesson, I'll be sharing with you one of the most effective marketing philosophies. Well, this philosophy is not just about my kid. T is about business enterprises or hold, or rather entrepreneurship as a whole. It will help the perspective and the mindset of any businessmen out there, especially in my kitchen, one's business. And this philosophy is simple. It's about money. And people understand that money is just the thing. It's like a closed in a wardrobe. And the owner of that wardrobe is like a potential investor or a customer in other instance. So this is like money, meaning a clove is something that one controls, like money. Money does not control it. Solve the problem with many people and many enterpreneurs is that they are too conscious of money. Modern people. And what we need as competent and printers, we need to be more conscious of people than money. Why? Because people control money. Here is the thing money does, what people do, and money doesn't control itself on its own. So we focused more on getting money instead of convincing people with money. So the philosophy goes like this. You want to control money, influence people. If you want to get money, convince people, because once people are convinced, then they will decide on their money. You're done. Once you convince an investor or once you convince a customer about your product, about your service, your work is done and you just have to be faithful with it. Now, back to efficient. If I compliment you well about your tracing asset, well, I think that code looks too good on you. I think that one is looking at them. I don't think it looks good if I am influential to your wardrobe, I can influence how you are going to trace. Now, consider the same analogy and printing it to a person who has money. You tell them straight that I think if you spend your money like this, this will happen. I think if you don't consider my idea, you'll miss out on 123, we bought about it. So let me summarize this philosophy of money and pupil. If you want to control money, influence people. If you want to get money, convince people, that is the philosophy that any entrepreneur ones to half and have it as a mindset and as a perspective and it will help you and influence many decision-making, especially in my cutting your enterprise. In the next lesson, I'll be sharing about how an entrepreneur should define that target market. 4. Target Market: In this lesson, I'm going to talk to you and teach you about how you define your target market. Now please understand that even though you may have a competing business idea, a very good, unique, innovative and creative business idea and assuring one. Understand that it can fail because your marketing plan failed. Now here is the issue. Who determines marketing plan? You don't, as a businessman, all you have is an idea, right? You have a business idea. But who really determines how you're going to advertise the strategy, the method, the advertising system that you're going to choose for that business is the nature of your target market. Meaning you need to really define your target market with enough information that will help you how to choose a strategy to market to them. For instance, the way you communicate to an infant is different from the way you communicate to a child. The way you communicate to your child is different from you. Communicate to a youth, youth from a young adult, an adult for an elderly person. And the very fact that communication difference, it shows that even marketing will differ because my kid thing involves transfer of information. It involves communication. And so it tells me that if a person can determine the way you're going to communicate to them by metal of Asian other many factors. Therefore, your target market will determine which method you're going to use to advertise and market your business. So there are four factors that we are going to consider in marketing, I businesses, and these are defined your target market geographically. Number one. Number two, define it democratically. Number, number three, culturally. And number four, which is the last historically. Now, if you define your target market geographically focused, more on location, physical features, accessibility to that region, to that place, the arrangement of settlement and significant features to that place. Those will help you help you think that will ever maneuver well, transport well, interrupt well with my customers. So you need to really define this location, this region, even know the population in that area. How many settlers, how many people are in this place? And maybe the population of visitors, people come for some time and after some time they go. These are very, very important points of information that will dictate the method of the strategy of my kid T, one will choose for their own business or provision of services and products. So let's go to the next one. Democratically. When demographically is when we go in depth to find more information about the population, the common age groups in this, in this region or in this location. We want to know about emeritus status. We want to know about the average income. Things like poverty level occupations. For instance, most people are they famous or do they work in femmes? You want to know those things so that you get to see if really your businesses or products are fitting for this kind of population. Because we have just a mere look. You can easily tell that I know that my business was strife here until you make a thorough investigation to see that really do really, people really need your services? And even if they do need it, what ways are you to distribute it and what ways are you to advertise it. So democratic knowledge will help you a lot and also help you to focus their level of profit making that your business will take even the duration that you need to give yourself as a trial. To say that by this time I'll begin now to make profit to my satisfaction as an entrepreneur. Now let's go to the third one. Culturally, you need to define your target market. Culturally. You need to go in depth. You don't have to agree to the cultures, to the tradition of people, but at least understand them. Because if you understand them, it will help you how you communicate. You to help you to avoid errors because people can be extremely offended because of the traditions that cultures and your service and your service, your service provision or your product or provision may be an offense to some extent, if you are not careful enough to find out more about the cultures of these people. And this is where you even mind the psychographics, the values of people, what people are really interested people in this area? What are the trends? What people really gravitated to the changing lifestyles of people in this are the significant predominant features of their lifestyle. To be aware of dose, it will help you how you maneuver located in place your marketing strategy effectively for the sake of your business. Of course, the last one is historically. Now, you might want to investigate if you had the first one to provide this service or this product as questions, talk to people, the best way to get information is to really interview people, ask questions and go in length and finding out if they had ever had this kind of business or product. If yes, ask questions like, why did they fail? If they have failed or which ones and how are they doing? What are the common challenges historically? And also find about general historical information like what are the significant information or the significant event that has ever occurred in this location and find out if there were ever still happen again and see if your business can can involve itself in providing services in those events. And so, with these three factors, guiding factors, you have enough information to influence your marketing strategy and it will help you be effective and be very, very quick in getting, in getting customers. In the next lesson, I'll be teaching about the marketing principles that each and every entrepreneur should adopt. 5. 5 Marketing Principles: In this lesson, I'm going to share with you about five marketing principles that can help you to choose an effective marketing strategy. They are commonly called five fishing principles. Now, let's go analogically talking about fishing principles before we tend them into marketing principles so that at least you have a practical way of viewing it. Now, five fishing principles. The first principle is know what you're looking for, right? You're looking for fish, looking to get, to catch two, catch some fish, a great shot. And the second principle is go where the fish is biting. Yes, go where the fish is biting. And then the third principle is learn to think like a fish. If you learn to think like a fish, it will lead you to the next principle, which is catch a fish on its own temps. For instance, you've never seen a person fishing with a shoe. I can throw my shoe in a lake or in a water body. Hoping that with that shoe I'll get I'll get it a fish, right? It means that I'm using my own determining factor, how I should catch that fish, but I should catch it on its own terms. I should understand the eating patterns, for instance, of fish. What did they eat or do they prefer? And then I should use that as a base. And then our find myself really catching some good fish. And the last principle is use more than one who use more than one who can use a net, or it can use different designs of hooks so that you get more platform to catch more fish. So let's convert them into marketing. My kitten principles. The first principle is say, you should know what you are looking for. When you turn it. It's, it goes like this. You should know the people who are to be your market. No people. If you have if you have a location you're targeting for you, or do you have a business plan? You need to understand people. And in the previous lessons, I talked about defining my kid geographically, demographically, historically, and culturally. Those guiding factors, how you can know people better, because here is the thing. People will determine which method you use to market your product and services to them. They are determining factor. You don't use your own principle because you might use something that they don't even pay attention to. Or you might use a platform they are not using. So you need to lend their lifestyles, their cultures, their traditions, that preference. You need to learn about their fears. You need to learn about what intimidates them. You need to learn about their interests. You need to learn about the common populated areas. And so by that information, you will easily determine which marketing strategy to use. The second principle is now go where the product is my kettle, meaning go where you have potential bias or go, hey, you have potential clients right after now, you know, people after now we have found out about the lifestyles of people, your target intracellular products to, you need to move, go there. Now I know that many people will say, well, I want to start a business around my location, at least around my neighborhood. But the question is, with your business, thrive or you're just taken up by the fact that you just love the place. Because you see what determines the way to advertise, let alone the nature of the services and the products you're providing will be the people around. They need your product, right? Even though you love the location, Do they need it? And also do they prefer the waste or the platform you're using to advertise to them. That is a very important question. In other words, I'm suggesting that it's possible that your business can locate itself. You can just have a good business idea. And the moment you choose few locations to do a market research, what can be the location that can be outstanding and fitting for your business can be a location that is uncalled for location that you least expected. And so if you follow this principle, you will locate your business even quiet. Well, the third principle is length to think like a customer. A customer, in order to advertise to a customer, get in the shoes of the customer. Tried to imagine to yourself, what are the common questions that customers? Ask themselves, what are their common fears even about this product or about this services? Just tried to talk to as many people as you can because many people are potential customers interviewing them, asking them very, very useful questions. And so this leads us to the next principle which is catch, the customers are rather attract the customers on their own terms. They have their own terms. You know, if you catch them on their own terms, you have already negotiated, you have already attracted them. And so you can assure yourself of great sales. And there are actually five very, very important market research questions that will help you to go with rudder and chaos solve with the attempts that people put for your services. And that will help you to quickly and easily determined that marketing strategy and this five important marketing questions. They've got like this, the first one, I imagine yourself now in a location, you're going around talking to people and asking them these questions. You are now trying to combine the information and coming up with every part of the overall market research picture. And so the first question will be, what do you think is the greatest problem in this area or the creditors they need in this area. There are answers are going to help you to determine if your business can participate in that neat, if your product can participate in that problem. Because remember that the other way of viewing business is as much as you are providing service to make profit, the other effective way of viewing it, you are provided solution to print about people's needs, right? And so there is a problem, and you print a solution. That's what business is all about. And that problem, you turn it into a need and your solution. You turn it into a business. Ideas. Asking people, you create a problem in the area where kind of give you a better picture of how you up to position and direct or redirecting your services and products. So the second question will be asking that person, are you actively, are asking those people, are you actively using this product or using the services? Now, referring to the kind of services or product or your business is providing, right? If they say yes, I am, your question will be from who, who is your sponsor, who is your distributor, who is your provider? Who are the businesses? Who are the people who are providing this? Who had enterprises that are providing this service or this product? Or why did you choose that particular one? Those answers will be very, very beneficial to you, especially because you need two big industrial competition also. So you can get some wisdom from them, right? And if the answer is no, I'm not using this this product or services, the question would be why and whatever answer they will provide, it will still help you and strengthen your decision-making in appointing a better, ineffective marketing strategy in the following question would be, why do you think most of the people don't use this product or don't use this service. That will be the question and they will give you various answers, different answers, anything, if you combine those answers, you'll find that I actually have actually tapped into new ideas. You have extracted perspective that even you use or you did not help because wisdom belongs to customers, right? So the first question would be, if you were to look for a consistent, effective service provider or product distributor to address a greater need in the area. What kind would you look for? And then hear people's require my personal requirements and then will help you to now revisit even the distribution of your services, even the positioning of your services and products. It will influence everything before you can even just throw yourself in the market. Because these away that business people can throw themselves in the market and they fail. They don't fail because a business is a bad idea, bad marketing, marketing itself was not conducted in any effective, effective way. And so the last question will be, as a businessman, what would you advise me if I genuinely want to address this problem or discrete problem or discrete in this area, what would be your advice? Then they will start giving you based on the previous failures, based on the previous challenges. And it will save you more energy to find out what had happened in this area historically. If you are able to answer these questions, then you have mastered the fourth principle of marketing, which is attracting customers on their own terms. And the fifth one is that when you are using more than one hook or using more than one method of advertising. Now, you might want to research and give yourself a greater view of different ways, various ways and methods of advertising. Just listed them, list the one that you have, the one that you learn from others, list them. There is no one that is more creative than any other. It's a matter of which one is fitting for your marketing strategy. List, the most stupid list, the most unreasonable, just list them all and then afterwards, assess them based on what I'm sharing with you. And now determine the better way of advertising, the better system of advertising and the better method or a strategy of marketing your business. 6. Significant Marketing Strategies: In this lesson, I'm going to share with you about other significant factors which affect your marketing strategy. Now remember, if your marketing strategy is affected, your profitability is affected, your vulnerability and your visibility as a business, personal and enterprise. They are all affected because marketing is a point where now you're making profit. So we want to look at these factors and as an entrepreneur addressed them in your marketing plan and you view a trust, at least in this vectors, then you have greater chance of really, really marketing and advertising your business quite well. So let's look at them. The first one is distribution of your services, right? You have a great business plan and you know what services you are to provide. You also know which products you are to distribute. But what with what roots have you chosen to distribute this? I were to distribute them in bulks, IoT distribute them to everyone with low quantities, quantities and bulk of course. And so the way you are to package your products, the way you are to distribute your deliver, so to speak, deliver your product. There are determining factors of the effectiveness of your marketing. You to offer free transportation, things like that. The location is also effect of distribution where you locate yourself to distribute those those services are unanimous to the market or are you far from the market? Dad is a manner of distributing your services, right? Even the people that you choose to work, they tell us the people that you choose to work as a connection between your business and the customers. Those are distributing agents, those are distributing factors. And every aspect, even the ones that I did not mentioned, that is between your service and your customers, oil, your products, and your customers, you need to monitor quite well because they determine the effectiveness of your distribution of services, which determines the effectiveness of your advertising and marketing strategy. The other factor that you want to consider is professionalism. I know that many businesses, persons that are so conscious of profit that they want to make profit. No sooner. This business, of course, everyone wants that. But it can be also negative because some people just throw unprofessional or employees or unprofessional parties to participate in their businesses just because they want to make fast cache. Now remember, a business needs to grow. It needs a long span to leave, right? And really provide you with your personal goals and whatever you do will affect your future integrity and the integrity of your enterprise. So you might want to really consider professionalism. Hire people who qualify for certain tasks. Define your labor, define your workers even machinery way you know for sure that you need a stitching gadget. Consider that gadget in, vested in marketing. Do not limit your marketing. In fact, if there's an area in business enterprise that need more money, is marketing because you might find yourself that if you invest more in marketing, you have actually positioned yourself in a strong position, really, really sell well. And so professionalism is extremely important. There are businesses that have fallen just because they're tells us, or people who are distributing the workers who are providing the services. They are not friendly. They don't have that understanding of customers understanding, let alone the understanding of the business itself. Understanding of management skills, leadership skills, understanding of communication skills. All of this is because of lack of professionalism. And so as a businessman, be strict on professionalism and also assess which areas need more professionalism. And most importantly, in the management structure, that's where you need more professionalism because it will determine the effectiveness of your business via marketing. The other factor is customer care, I know is very, very general. It's like an umbrella term of the whole marketing and the whole advertising and distribution of services. It applies in many aspects of the business, but in itself, it needs to be mastered, quiet. Well, It's amazing unit even. I teach your employees how to address a customer by their names, by their titles if need be. The way they dress, right? I remember hours go into this cafe and we went there with my colleague. Whoever was selling in that place, they were unfriendly to customers so much that the next day we didn't in fact be canceled that place completely because of that person. It was like they were annoyed of being visited. They just wanted to sit there and saw nothing. If you place a person like that in your business, be sure to reap a lot of nothing because we want customer, every person when they enter a place, you want to be a trust. Well, they want to be caught painting. They want a thank you. Note something, some kind of treatment that will make me feel at home in your business. And so if you provide homey atmosphere in your business than customers who just go there for that. And so we might want to really invest in more even in customer care, branding. Branding also contribute to the integrity of your firm or your business. Branding. How you present yourself publicly for whatever means you use to brand your business. That should be attractive, that should be interesting, that should be traffic callin, gravitating. So whatever brands you choose, just make sure that they have a solid integrity of what your business is all about. And every, every time when a person here slogan or see your brand or your name or whatever service you're providing, they should feel different. Meaning you should bring in a way that is competent and in a way that is not common, but in a way that people just lead to go there. And so invest also in branding and be streaked with it because it's part of your marketing strategy. The other one is pricing. Pricing your product and services is a determining factor of your marketing effectiveness. Now, understand that just lower our lowering prices doesn't necessarily gonna make your marketing strong? Maybe initially, yes, but in the long run, it may not be. Especially if you or your product and services are of low quality, which of course requires low prices. It's obvious, right? But understand that it's also possible that you can have expensive provision of services and expensive products. And yet people still go there because of quality and because of a very, very gravitating customer k. So it's a matter of, does this price fitting for this product or service, or is this the service and product with this pricing? If you must do that, you're done. Just know that It's very important that your pricing should complement the quality of your product and the quality of your services. And if you do that, then you get yourself, customers and clients. Now the other one that I consider, maybe the most important, is the strength of your niche. The strength of your niche, one way or another, they determine the effectiveness of your marketing strategy. Now, let's talk about what a niche involves. Three things, three important things. The first one, defining our definition of your target market. The second one, what is the problem? And the third one, which is the last, what solution do you as an entrepreneur? That is what Nietzsche is all about. Niche is all about target market, their problem and the solution that I print as a business person. And your niche should be structured well, clearly, and it should be very, very brief, ineffective, right? To the very extended diet. If anyone wants to understand what your business is all about, they can just read the niche, you know, customers, investors, potential investors, or anyone wants to understand what your business is all about, they can just read your niche and be totally gravitating. There is no need now to go through the whole business plan just because of your niche. So you will need, should be very clear and effective. And if it is, then your marketing plan where follow suit because it will be totally affected by your niche. And the other one is technology. Technology is a very influential factor in business. It will affect every aspect of your business, intruding your marketing plan. So the reason why you even need to really do make it to research and learn more about your potential, my cat Oreo, your target market, is because your target market, they have their preference in technology. They have their common hybrids in technology. What are the gadgets? What are the technological trends in that area you are targeting? What are people using and pupil interests in the technological developments and use that to advertise, use that to my kid. As I said in the previous lessons that people determine your marketing strategy. You don't, right? So you need to get them on their, on their own. Tempts. Learn about technological roots of advertising and determine which ones, which ones would be fitting for the market that you're looking for based on what you learned from that my kid, geographically, demographically, traditionally and culturally. The other one is industry. That's where you have competition. But let me make one thing clear, because competition to may not be understood. Some people believe that competition is all about. If you come to a region where you find doubt, many people are already selling your products, are many. Entrepreneurs are already providing your services. And that makes it a competition, not even close. It makes part of competition, but not intentionally infect as such. Now, it's possible that a region can need your products and your services. And it possible that if you go there to provide them, you'll find that there are already 100 service providers or 100 same a product providers. And you can quickly decide this place has already much competition for me. Let me relocate or let me reconsider. Not so quick. Why? Because what else determines the competition is a need for that service, in need for their product. What if as many as they are, they cannot even be 40 per cent of demand. What if demand is just on 20 per cent? What we need even 500 more service providers, right? So you need to understand that market research is needed to that very extend, not just looking and say they are there. So I can be there. One way of determining it but completed with also determining the demand in the location of the service that you provided, demand of the product that you are providing. Also, the ways they are providing the services. You can provide the services in a different way because it's all about being unique. It's all about printing something that others can provide us. Others don't have something that when customers come to you, they can say that this one doesn't have, that. This one is good in this way. This one is better in this way, right? And so there are many things that really can tell you if you have a competition or not. And if you have a competition, to what extent do you have that, that competition? And so industry is a determining factor or an influential factor to your marketing strategy. The other one and the last one, there are many, but let me conclude with this one. Now, it's easy to just conclude that everyone loves English until you sell your product and find out the dad language is a major factor in marketing, right? It's 70 population, 70, 70% percent of the population, they speak a native language. And most of the products are provided in foreign language. You need to be very, very smart how you're going to connect into two, right? And so your, your determination is concerned with people understanding your product, being educated about your services, and making sure that language is not a barrier, even though it is even being convincing enough for people to use your product, even though it's written in a foreign language. And there are many ways to really advertise your product to beat those barriers. In the next lesson, I'll be sharing with you about some common ways of advertising that are very simple and practical. Practical that you can consider for your marketing plan. 7. How To Advertise In Your Market Plan: In this last lesson of marketing skills, I'm going to share with you one of the practical common ways of advertising in your marketing plan. And understand that not all of them will be useful to your business enterprise. Because remember from the last lesson, we have tied the diet. People do determine or your potential customers do determine which strategy you're going to use to market by their own cultures, their own lifestyles, and many other factors that we mentioned in previous lessons. So let's do a mention of this and I'll be briefly explaining them and sharing some few ideas with you that you might want to consider in your enterprise, right? So the first way you want to get wet, or do you want people to know about your business? Not only that, what your business provides, the services, and the product, not only that, but why are the best, right? And so we want to do that through these ways, are through this example, the Fed, the first example is word of mouth. Right? Now. Communication with people where you talk to people is where you advertise yourself, is where you advertise your enterprise. Mentioned what you're providing for people and give them interesting information about your product, right? If you get in any conversation, then daily, you can advertise yourself daily. And so every person that you can compensate with, they are your potential customers. You can start with your family. The family, I feel higher, right? You can just start where you live till you're familiar about the services and the product that you are providing and from your family, go into your relatives, tell them all, do not give yourself one excuse. Why you can tell them. I know that we have many excuses, but those excuses are not good enough, I guess Dell and nothing let nothing stop you from using this advantage that you have to advertise to people who are closest to and from there, talk to your acquaintances. You have high school friends, you have college friends. You have friends from all over. And these people are your potential customers or maybe your salespersons. Because if they are not your customers, if you tell them about your product, they will tell others. You will tell other people you will meet different people who need your services. Your phone contexts, you have phone contracts. Why do we have phone contacts? Get something out of them, advertise your services and your products TO phone, contact everyone who has ever contacted you. And we have they are contacts. Send them in weight, send them your advertisements, and some of them will be your customers. So that is how you spread the word, the word out. And so the other one that is free or low price trial, especially if you're new or especially if your services and your product is new in a location or new in general, you might want to consider this initially is when you lower prices, extremely two, maybe for a week or maybe for some time, where you give people to get to know your product or quality of your product. You should because you have confidence in your product. And if people get things for free, they quickly tell other people, Hey, something is free here. Let's communist coming in and come and taste and come in here or coming field, coming test, right? And if you do it for free for some time, you have already advertised yourself to people who will advertise you, to people who advertise you, or lower prices to people who will advertise you. So the other way is to visit the crowd, right? In that region of your target market. What are the major events, maybe sports events, political events, of course, these are my kid. It can go there and sell your product or advertise your product. Go therefore, a business, especially if the access is free, you do not lead crowds. Get away with that opportunity. Get to know about crowds, reading newspapers, watch television, listen to the radio. Because now you are a businessman and businessman always hands for useful in for nation. And so which brings me to radio advertisement, television advertisement. But remember, you need to know the region nor the place. What is the common or the most popular radio channel, radio signal in this, in this area. And then use that for advertisement. Now it can also consider when posters, billboards, it is all determined by the nature of your business and the location in your target, your target market. Now, I want to talk about this one because I love it very much. Sales peasants. You can either hire sales people or you can train them for yourselves. And you can train them to hire them on a permanent basis, or you can train them to offer them a free cars, maybe even an extra calculating it. In entrepreneurship. Give them something they can appreciate for free. And then wherever they are, they can use it for whatever needs they have bad requested to hire them on a freelance basis. You provide this free skill to them and then tell them that they can use wherever they want. But whenever you need them, you can give them a part-time job as free lenses. That's how other businesses or other institutions do it. And it's a good way of saving a lot of money and being effective in your marketing. Now, you are not limited to this. There are other ways of advertisement is always room for creativity and innovation. Just design a plan for my kitchen. Design, an advertisement system that is fitting to the information that you've got about the population you are targeting as your potential Nike. 8. Class Project: Thank you for your time. I hope that all these lessons were helpful to you. So for your class project, just make yourself a marketing plan that you consider effective in it. Consider these three headings. The first one, define your market, and the second one. Write a brief or of which route you are to use to advertise to those market. And then the third one, write a brief about how you think you as an entrepreneur, how you think this strategy that you have chosen will be effective and why.