As a business owner, you run into daily challenges and are constantly solving problems. It’s all a part of running, a hopefully, successful enterprise. However, do you know how to overcome certain growth obstacles that may keep your business from evolving and thriving?
So, what is a “Target Market”? A target market is a set of individuals sharing similar needs or characteristics that your company hopes to serve. These persons are usually the end users most likely to purchase your product. A big plus is that identifying the right group to advertise to before you even schedule one media buy, can really save you money in the end!
There will be plenty of quality designers out there who have the talent to deliver wonderful work. However, talent plays only a small part in your search. Cost is another factor, of course, but don’t let this be your driving consideration. Remember, this is your business, your “baby”, don’t go cheap or you’ll get cheap.
As a graphic designer, I commonly hear the phrase, “I’ve got a (friend, cousin, brother, etc.) that is going to create my logo.” My first response, believe it or not, is positive. I say, “Great! Are they in marketing, design, or are some type of visual artist?” Nine times out of ten the answer is “Eh, no. But he’ll do it for free.” That is NOT how you want to brand your business, especially a start-up.
Congratulations! You have opened up your own business and are working in your dream job, something that excites you and fulfills you. Now, you have to get people walking through your door. This is where marketing and it’s essential planning comes in. If either yourself or a hired professional do things right, you will see incredible increases to your cash income and a slew of customers. But, it is a delicate balancing act and the wrong move can cost you more money in the end. Therefore, how should you as a startup business handle the aspects of your marketing?