Your Business With James Caan 2017 - 214
Spread the word
ou could have the best business
idea in the world but it won't get
off the ground unless word gets out.
Great marketing is key to a successful
business venture, but how do you
make the most out of marketing
without blowing your budget?
WHAT IS MARKETING?
In the simplest terms, marketing is
anything a business does to get or keep
a customer. "Effective marketing is
understanding what your customer
really wants," says Phil Toms, founder
of 47 Marketing. "It's the idea of
getting noticed and persuading people
to choose your products and services
over others in order to build your
brand. Successful marketing ensures
your unique selling point, or USP,
is communicated in an appealing
manner to your target audience."
HOW MUCH DOES IT COST?
"Typically success for a young
business relies on building brand
reputation within a market - and
fast," says Linsay Duncan, co-founder
and marketing professional at
Marke2ing.com. "The ability to grow
an audience quickly is likely to make or
break a company in its first few years.
"To tackle these challenges, it's a
recommended a new business invests
12-20% of their turnover in marketing
in its first five years. That can be a hard
pill to swallow, but quality investment
in wise marketing is imperative
to success when starting out."
WORDS: KATE YELLAND
You have a great business concept - now you need to let everyone know about it
214 YB2017 Top 10 Marketing jw.indd 214