Considering the new digital marketing age that we now live in, entrepreneurial marketing has become a means for entrepreneurs to market their products and services. They can do so just as efficiently as some of the more stable businesses and fortune 500 companies that have been around for decades.
These have traditionally been able to saturate the marketplace with their marketing and branding efforts while gaining maximum exposure – leaving very little opportunities for the smaller entrepreneur.
Marketing in the traditional sense has typically been reserved for companies with deep pockets. But now that social media has come on the scene, entrepreneurial marketing has leveled the playing field for small business owners and entrepreneurs.
In this article, we will talk about what entrepreneurial marketing is and how to use it. We will also talk about who uses marketing techniques for entrepreneurs as well as how to best implement marketing strategies that result in the greatest ROI.
What is Entrepreneurial Marketing?
Traditional marketing strategies have typically been reserved for large, well-established organizations who utilize fundamental marketing principles. However, entrepreneurial-based marketing involves marketing techniques that are easier to implement and far less expensive. It is more of an unorthodox way of reaching an entrepreneur’s targeted audience.
For years entrepreneurs were not able to fully participate in marketing and advertising activities. But now, with multiple social media platforms available -and most were free, entrepreneurs can take advantage of many marketing opportunities. Since the launching of the Internet, many customers spend a lot of time online, which is where entrepreneurs can reach them.
Who uses Entrepreneurial Marketing?
Now that you have some answers to the question “what is entrepreneurial marketing?“ you’re probably wondering, who uses entrepreneur marketing? Although it may seem pretty obvious -that it is used by entrepreneurs, it is also used by those who perform social media management services and marketing consultants for entrepreneurs.
A great deal of marketing for entrepreneurs involve marketing and advertising utilizing social media platforms, such as Facebook, YouTube, Twitter, Instagram, Pinterest and more. These platforms have become an easy way for entrepreneurs to market their product or service to millions of potential customers. Ones who may be using any of the various social media platforms every day, at least.
Even those with a small budget can now participate in a wide array of online digital marketing activities. Entrepreneurs have handed this task over to social media and marketing experts who have learned the ins and outs of the different social media platforms.
How to Implement Marketing Strategies for Entrepreneurs
Since the majority of the marketing strategies for entrepreneurs involve marketing activities on various social media platforms, the best way to implement marketing strategies consist of areas such as the following:
- Content Development;
- YouTube Videos;
- Press Releases;
- Pod Cast;
- Tracking Marketing Activities and more.
There is a wide array of activities that can take place throughout the year. However, the best approach is to develop a marketing calendar, which is also referred to as a content calendar.
This way, entrepreneurs can schedule when he or she wishes to launch various marketing and advertising campaigns. This can be done through the use of some of the areas indicated above, but can also be implemented during different times of the year.
It is also very important to monitor the different marketing activities that have been implemented, such as how much traffic was generated, the total number of impressions and conversions, etc.
This can tell the entrepreneur a lot about the marketing and advertising activities that has just taken place. It can also assist them with making better decisions in the future based on the results that have been received. It allows experts to better determine what’s working well and what is not.
6 Ways a Marketing Plan Can Help Your Business
An entrepreneur’s business can become impacted in a very effective manner as a result of implementing different marketing strategies. Six of those are indicated below.
1. List building can take place as a result of an entrepreneur setting up a website whereby potential customers can opt-in to their site in exchange for something of value. In doing so, the potential customer would be required to enter their email address.
This would allow the entrepreneur to build a list of potential customers. Such an action is important because it allows them to alert these potential customers of various promotions, sales, and other activities as they occur.
2. Appearing as the expert Is one major benefit of having an effective web presence. When entrepreneurs post blogs on a regular basis, as well as participate in industry-based forums, they can answer questions that potential customers have and appear as the expert. It is also very helpful when experts create industry based eBooks, podcasts, and blog posts.
3. Entrepreneurs can increase user engagement by making themselves more available and becoming more social online.
4. Once an entrepreneur has implemented a well-thought-out marketing technique, they can use the opportunity to further build their brand-gaining trust among their target audience while building customer loyalty.
5. Overall customer service can be improved simply by being sensitive to the needs and wants of customers within your target audience and becoming their go-to source for solutions to their problems. Not only does this increase their perceived image of your company, but it also increases customer retention.
6. Increasing ROI is the ultimate goal of every business owner-small or large. Thus, the implementation of various marketing strategies allows entrepreneurs to monitor which techniques are working and which are not. It basically allows them to identify which marketing activities are generating more sales.
To conclude, entrepreneurs should understand the times in which we now live. They can easily market their products and services at will without putting any major strain on their budget.
Although gaining exposure in the marketplace requires time, planning and management now offer a great chance for entrepreneurs to take advantage of the leveled playing field. It’s a great time for them to be in business and thrive.
If you have more information that you’d like to share, please feel free to comment below.
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