Educate Your Marketplace
Businesses have the burden of informing consumers about their products or services before purchase. A good business owner understands that a potential customer may not know they need a business's product or service. Ensuring the company's name and their main products are known is the best way to build market share and encourage consumers to buy from a specific company. Even the newest products benefit from this attitude. A person may not know they need a purple widget. If the company goes to the effort of letting the consumer know purple widgets are available and necessary, the consumer will tend to remember the company's name.
Once a company has gotten their name out, they must continue to market to the public. There are many companies competing for the same consumer dollars. Each one wants more than their fair share of the market. They want as many customers as possible to keep their business solvent. When consumer budgets are tight, companies want to be first in the consumer's spending line. Keeping their name fresh in the public's mind makes this a realistic possibility.
Marketing to consumers by educating them is a good way to make a company memorable. People are often pleased when they learn something new. They will associate this good feeling with the company that provided the information. There are many tricks to helping people remember names, and these are used in conjunction with the learning process. This provides the company with an avenue to stay in the consumer's awareness longer and build their ability to expand market share. If the customer associates a company's name with a specific product and a good feeling, they are more likely to buy from that company.
Direct marketing is one of the most effective ways to expand or build a consumer base. This entails using demographics to pinpoint consumers that will need or use a company's products. Advertising a musical instrument would be pointless to someone who is tone deaf. An instrument company uses demographics to find potential customers among people who play instruments or want to learn. Marketing directly to people who will use their product makes it less expensive for each customer gained through direct marketing.