Marketing Basics Every Business Owner Should Know

If you’re a small business owner, it’s important to know these marketing basics. After all, your success depends on your ability to reach and persuade potential customers. In this blog post, we will discuss seven marketing principles that every small business owner should know.

These principles will help you create a successful marketing strategy for your business!

Scarcity

One of the most important marketing basics or principles is scarcity. This principle states that people are more likely to buy a product or service if it is in limited supply. When you create a sense of urgency around your product or service, you will be more successful in persuading potential customers to buy it.

Authority

Another important principle of marketing is authority. This principle states that people are more likely to buy a product or service if it is endorsed by an expert or authority figure. If you can get an endorsement from someone who is respected in your industry, you will be more successful in persuading potential customers to buy your product or service.

Social Proof

The principle of social proof states that people are more likely to buy a product or service if they see other people using it. This is why testimonials and user reviews are so important in marketing. If you can show potential customers that other people have had success with your product or service, they will be more likely to buy it themselves.

Word of mouth marketing also falls into this category. This is because potential customers are more likely to believe a recommendation from a friend or family member than they are to believe an advertisement. This recommendation from a trusted person can be all the social proof they need to make a purchase.

Likeness

The principle of likeness states that people are more likely to buy a product or service if they feel like they can relate to it. This is why it’s so important to target your marketing efforts toward your target market. If you can show potential customers that your product or service is designed for people like them, they will be more likely to buy it.

Likeness also means that people are more likely to buy from people that they like. This might seem obvious. However, if two businesses were identical except one knows how to make someone smile and the other does not, the one that knows how to make someone smile will get more business.

Reciprocity

Reciprocity is another one of the marketing basics every business owner should be aware of. The principle of reciprocity states that people are more likely to buy a product or service if they feel like they have received something in return. This is why it’s so important to offer potential customers something of value This can be simple such as a free trial or a discount. If you can show potential customers that you are willing to give them something in return for their business, they will be more likely to buy from you.

This is a large reason why waiters and waitresses will leave mints on the table after a meal. They are hoping that the customer will reciprocate by leaving a larger than normal tip. To truly make this marketing principle work, make sure that each gift is unique and genuine. If everyone is getting the same gift, it will lose its value and not work as well.

Consistency

If you want to build a successful brand, you need to be consistent with your marketing efforts. Consistency is one of the key marketing basics business owners must follow. This means using the same logo, colors, and messaging across all of your channels. Consistency will help customers recognize and remember your brand, which can ultimately lead to more sales.

Commitment is also a form of consistency. That’s why some marketers will have potential customers sign a contract or agree to a certain number of purchases before they will receive a discount. Commitment also comes from the brand’s side as well. By consistently delivering high-quality products or services, you will build a loyal customer base. This base will continue to buy from you in the future.

Advertisers will also consistently show ads for a product or service to potential customers. This is because they know that it takes time for people to make a purchase decision. It is important to be top of mind when they finally do decide to buy. Some advertisements might not ever be a hit. However, some just need to be seen a few times before someone finally decides to buy.

The more familiar we are with a business, the more we like it. This is because we know what to expect from them and we feel comfortable with them. When you are consistent with your marketing, you are building trust and familiarity with potential customers, which can ultimately lead to more sales.

Unity

Another one of the marketing basics is unity. This is where community marketing comes into play. By aligning your brand with a cause or a community, you can tap into the power of unity. When people feel like they are part of something larger than themselves, they are more likely to buy from you.

The principle of unity also applies to community marketing. When you market to a specific community, such as environmentalists, car enthusiasts, martial artists, parents, or pet owners, you are tapping into the power of unity. By aligning your brand with a specific community, you will build trust and goodwill with potential customers. Together, as a community with a mission, you will be more likely to achieve your goals.

Marketing Basics for Business Owners – Summary

When it comes to marketing, there are a lot of principles that can guide your efforts. But these seven principles are essential for any small business owner who wants to build a successful brand. By following these principles, you will be on your way to building a successful business that customers will love.

These strategies have been made famous by Robert Cialdini’s 1984 book, Influence: The Psychology of Persuasion. If you want to learn more about how to market your small business, I recommend checking out his book. It’s a great resource for any small business owner who wants to build a successful brand.

Remember that not all marketing is bad. If the product or service is truly great, small business owners should feel an obligation to let the market know that they are the best.

Marketing increases the ability of a product or service to reach more people but it won’t increase the quality of the product or service. The quality of the product or service is what will determine if customers become raving fans or simply one-time buyers. Focus on quality and use marketing as the amplifier.

Do you have any other marketing principles that you think are essential for small business owners? Share your thoughts in the comments below.