Marketing – Expand Your Sales Channels
For most entrepreneurs, product diversification is where they invest. This approach can be very costly, and it leaves them with the same problem – marketing.
The perfect product?
Entrepreneurs are looking for that perfect product/service that will bring massive sales and solve all of their financial problems. Searching for the ideal product/service may not be the right approach.
What is better?
Is it better to have a less-than-perfect product with great recognition or a perfect product with no attention? I guess that your answer would be the former – A less-than-perfect product with excellent product awareness.
Where to invest?
If you have a limited budget, you may want to spend it on marketing rather than product expansion. Once you know marketing is working, then expanding your product line is a no brainer!
Do more digital marketing:
Add more sales channels:
- Add sales channels – Facebook Marketplace, Google Merchant Center, Amazon, eBay, to name a few.
- Use your website for selling online.
- Setup Affiliates
Start an advertising campaign:
- Google Advertising
- Facebook Advertising
Where to start:
- Get a marketing plan established.
- Set the KPI – Key Performance Indicators.
- Set a marketing budget.
- Develop all of your digital properties to support the program.
- Implement the plan.
- Monthly monitor & adjust the plan.
Do not react to a market condition; instead, be prepared. Spend money where you are going to see the best return. Create a plan, execute, monitor, and adjust that plan to achieve desired results! Expand your sales reach, then diversify your product.
Remember, through marketing, products, and services get sold!
If you need assistance in developing a marketing plan, or need help with digital marketing, give RapidPage a call today.