Marketing the Business

 

Marketing Your Business In The Globalized Economy

Marketing is the lifeblood of any business. Selling your product is the foundation of business success. Profit driving sales. The expansion of the retail business is underway. Without sales, there is no customer satisfaction or customer relationships.

Therefore, one of the critical tasks of any business organization, small, medium or large is marketing. Businesses spend billions each year marketing their products in targeted markets. This could be in the form of advertisements such as billboards, television, radio, newspaper advertisements or marketing strategies or public relations.

A critical question for all businesses is how to increase their sales revenue. It is important that the benefits outweigh the costs. Therefore, it is the responsibility of all marketing executives to distinguish the most profitable marketing media from their business.

The world outside your 'land'

We live in a global market made of various technologies, especially the internet and mobile technology. An urgent question for every business owner is 'what better way to expand the global market for my business?' Part of answering this question is another question, 'How do I market my business to a global economy?'

According to the Statistics Portal, as of April 2018, there are 4,087,000,000 online users worldwide. In the same way, there are 3,297,000,000 social media users. More than 50% of the world's population are active Internet users.

With all traditional advertising methods, your access is limited to the number of people in your area. Even if you are a large company, your ad can only reach the people in your country and perhaps other neighboring countries. China, a densely populated country with a population of less than 2 billion. Traditional marketing methods can reach up to 2 billion people even in China.

But with the internet, the scope of the 'target market' has changed. Your target market does not need to be the people in your area. In a global economy, your target market can extend to the rest of the world. A company in China can place their business online to identify customers in Canada. The manufacturing facility in Nigeria can target customers in Russia.

This is especially true for people who sell services. A South African writer can write for a magazine in the United States and an Accountant with knowledge of International Financial Reporting Standards and accounting packages can look for clients far away in Australia. A French graphic designer can create client flyers and banners in Ghana. A relationship or self-development specialist in Britain could be a forward-looking customer in Spain. In the global market, even language is a barrier to those opportunities.

The point is this; the global market provides business owners and marketing managers with unique opportunities to increase their reach. In the global market, the Internet offers great opportunities for businesses to grow and develop industries. Your organization's target market can reach the entire world. When done right, your goods or services can click away from customers around the world.

If your business is not visible to these 5 billion people, you are not maximizing the potential of your business.

Millions of people search for Google and other search engines looking for information and products that can be purchased. Why not put them in your place to get some of the benefits?

All critical businesses in the global economy need a website. Having a website is the first step to earning online as a business owner. A good business website can cost within $ 100- $ 300 (depending on the developer). In some cases, it may be less or less. In the global market, you can find competitive prices on trusted freelance websites or individual designers who have put their services on the web.

Other benefits of having a business website include:

1. It provides a platform where potential buyers and current customers can access important information about your business and products 24 hours a day at the click of a finger. Instead of answering thousands of calls every day, your website provides a way to get the basic information you want.

2. Make your goods and services accessible in the global market 24 hours a day and seven days a week

3. It is an opportunity for you to be identified by Google and to be the place where Google searches for your product or related products.

4. Provides a forum for detailed descriptions of your products and services without limitation of newspaper page or radio time.

5. In the 21st century, owning a website identifies you as a determined business owner.

Many people around the world rely on the Internet to buy their goods and services. It is important to take advantage of this opportunity.

Having a website is not enough to get sales. But it is the first step in a series of steps that could prove to be the most effective way to market to the global economy.