Marketing is a primary ingredient of businesses. Without it, an enterprise won't survive its day-to-day challenges in sales, competition,advertising strategies, business plans and so on. In other words, marketing is every business's backbone so they can sell their products and services. While there are still companies out there that are doing this in-house, there are those that hire marketing companies to do the work for them. If you are just starting in the industry, it's better that you have your own knowledge of howto do marketing on your own before you seek additional help that will only increment your business costs. To start, here are your 6 must-have essentials for startup marketing.

Marketing Plan

First of all, you need a marketing plan. This is effectively done yearly and in case you are planning to have a different method, you can have your own marketing plan monthly. This serves as a blueprint of your marketing and advertising methods for the days and months to come. It outlines your strategies in order to achieve your business goals and objectives. When formulating your marketing plan, see to it that it fits in your marketing budget.

Business Goals

For you to enjoy the benefits of marketing, your business should have business goals that are S.M.A.R.T. Your goals need to be specific.They should not be too broad and too hard to attain. They should also be measurable in a way that they can be quantified. Other attributes that you should consider are attainable, realistic, and time-bound. That's how you should list down your business goals so your business can move forward.

SWOT Analysis

This analysis entails the Strengths, Weaknesses,Opportunities, and Threats for your company. To do it, you should first determine your objective then choose the strategy to analyze. Then, make your own grid of 4 squares then label them as strengths, weaknesses, opportunities,and threats. After that, add specific information that corresponds with each box. You can now draw conclusions after you've listed all the details you needed. This is a simple framework that will help you analyze what you are good at, what you are lacking, and how to address them.

Competitor Research

You also need to do competitor research for your business.This is the only way you can be aware of their tactics. This will help you collect relevant information about your rivals and gain insights on what they are doing that will eventually affect the financial well being of your business.

Investor Pitch Deck

For your marketing to be effective, you also need an investor pitch deck that you can do through presentations. Most businesses do it by creating their own reports in PowerPoint, Prezi, Canva and Keynote. The strategy depends on you as long as you are able to catch the eyes of potential investors.

Buyer Persona

A buyer persona is essential in all businesses as it is a profile that can indicate who your target customers are. This is researched-based and can improve how you make decisions for your business. This typically involves your ideal buyers, the challenges they have, and how they decide for themselves. In your business, you can have more than one buyer persona.

To Summarize...

Those are the marketing assets you should invest in even if you are just a startup business. Remember, marketing is what makes a business continue. You need to acquire these essentials in place to ensure that your business has solid grounds to grow on. You need a good marketing plan and measurable goals to be able to execute your core strategies successfully.Knowing your competitive market will open up new doors for you to create your own way to fight threats. If you get those right, you can later consider more comprehensive strategies and distribution channels, brand awareness and more.But to achieve all of this, your business needs marketing at any stage because marketing is equal to growth.

June 18, 2020