Home » Business » Home-Based Business

Success In Your Home Business Is In Your Marketing

Apr 1, 2008
Marketing the function of your business that lets people know you exist. Your marketing is an essential part of any business, without it businesses soon fail. In fact, we will find that we can make a business last longer than those that close at the first sign of problems, with the information in this article.

Your business is a marketing business. Without marketing no one would ever know about your products and services. Marketing is essential to focus your products message to the best target group for that product or service.

A look at Nike would tell us sports products, clothing, etc. However, Nike has never made any products itself. In fact Nike is a marketing firm, which outsources its efforts in producing products. And all that time we thought Nike and shoes went together!

Most businesses however don't give marketing the correct perspective. What makes a home business successful, while others seem to fall over? Usually, you will find that what makes one home business successful and another fail, is the small factors of difference of marketing.

For example 2 home businesses are doing things similar, same product or opportunity, and same financial resources. One of those home businesses rise, and the other fails. One seems to produce phenomenal results with its marketing efforts and another may focus on same methods of marketing; however there is a missing ingredient.

This missing ingredient makes all the difference, for without it businesses seem to fail. The obvious answer would be to say they are marketing in the wrong ways, and this is a possible answer, however, there is more to it.

The answer is time. Most businesses who fail don't understand that there predominant purpose is marketing. Instead the focus, especially with home businesses that manufacture and make things is that of focusing on producing the widget.

A business whether it is a home business or a large multistory corporation needs to focus a larger portion of its time to marketing. Marketing fuels your sales and allows you to grow.

The best ratios that have been time tested by many home businesses that have become successful is to focus 70%+ of its time to marketing efforts. Even large multinational corporations follow this rule. For those home businesses who focus even more time, perhaps an 80/20 ratio (remember the 80/20 rule!), they are soon found to be the success stories. We hear of them making headway and putting dust on there competition.

Targeting is another factor. You simply must know where to aim your efforts to get to the customers you seek. If you posted a flyer through every door in the US, offering exotic pets, how much would you convert? If your home business is an online business, then you should pay special attention to this bit.

Targeting is essential to increase response rates, and have more leverage. I am sure you can see the huge waste in untargeted mailing every doorstep. You product in almost all cases is one that fits a certain persons needs. Yes, a mobile phone may be needed by everyone, but wouldn't it be easier to target people who regularly want to upgrade there phones, your target market?

Once you target, then your aim should be to test. Testing allows you to know what works and what doesn't. You get to stay in line with consumer trends, and where they go. Without a successfully working marketing strategy, and there is a big difference between a working strategy for your home business, and simply a strategy, your business is doomed to fail. Once you can learn which methods work and don't work, you can constantly build a marketing strategy that works and improves over time. Then your aims should be to increase the volume.
About the Author
Please Rate:
(Average: Not rated)
Views: 116
Print Email Report Share
Article Categories