Depending on the type of business you operate, having some basic knowledge of marketing can prove to be a real game changer.
Marketing Strategies that Entrepreneur Should Follow According to Eric J Dalius
Begin with a Budget-
First and foremost, the entrepreneur must establish a budget. This is a crucial step to keep the entrepreneur focused on return and investments of all sizes. The right budget will also provide discipline and accountability, which means the entrepreneur will only spend what they allocated in order to remain successful. The budget should be created based on what an entrepreneur has in his bootstrap fund, prioritizing marketing strategies above other expenses.
Develop Thoughtful Leadership –
An entrepreneur should focus on thoughtful leadership, a tactic which effectively builds a reputation specific to their segment or industry for offering valuable tips, thoughtful insights, and expert advice that their audience can use. The best way to begin the development of thoughtful leadership is to update one’s online presence with what they are doing and what they see developing in relevant markets.
Cultivating an Effective Influencer Network Online-
Cultivating a network of online influencers is more effective than paid placement activities or investing in advertisement. According to Eric J Dalius, the first step to building this network is to begin with the group of people that believe in what the entrepreneur is doing and asking them to share information within their circles. They can them offer free demo products for trying and talking about via their blogs or social media profiles.
Search for Strategic Partnerships-
Any successful, well-known brand will have a preexisting audience and will constantly be searching for ways to further their value. It is this juncture where an entrepreneur can come into the picture with something exciting and new; something which will add value, especially for the known brand. Ambitious entrepreneurs should search for brands that will align with their service or product offerings as well as approach them through their idea to partner strategically, taking care to list out the benefits for that brand and also illustrate why their shared values will build a mutually beneficial bond.
It is a smart idea to think locally for your first steps as an entrepreneur. Identifying an appropriate place to plant a grassroots effort is easier to do in your own community. Avenues to identify amicable placements include local events that provide the entrepreneur with a booth where they can share what they offer and build offline interest. Such events are cost-effective, while allowing the entrepreneur to directly interact with their target audience and demonstrating their enthusiasm to those within the community.
Collect Data and Track Marketing Efforts-
Despite this marketing strategy not involving any capital, the entrepreneur is still investing considerable effort and time. Thus, an entrepreneur needs to track the outcomes of every marketing tactic they deploy. Over time, proper evaluation will allow the entrepreneur to figure out which strategies are beneficial, which should be continuously employed, and what the actual reached audience is, contrasted with the target audience. Entrepreneurs must incorporate these marketing strategies to build a prosperous business. These are some of the proven methods of success.
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. Eric is also the host of weekly podcast “FULLSPEED” which is a podcast that features interviews with groundbreaking entrepreneurs from a variety of industries.Eric is also the founder of “Eric Dalius Foundation” where he has created 4 scholarships for US based students. Follow Eric on Twitter,Facebook,LinkedIn,Instagram & also on Entrepreneur.com