Marketing Challenges Investors in The Developing and Developed Countries are Facing:
Marketing is critical to the success of your business. It helps people out there know that your business exists and convince them to buy your products. Marketing also helps to notify people about the new products in the market.Through marketing, a business can boost its sales and increase its profits. This will make the business stable and long term.
Identifying the right technology to use
Depending on the target audience of your business, this might prove a challenge to many investors. Finding the right technology to use in marketing has been identified as one of the biggest challenge to investors in the recent past.
The reason this is a challenge to investors is that feedback on technology is scattered. Investors might turn to family and friends which technology fits their business only to find that feedback is spread across emails and social media from reputable sources.
Sometimes the marketing budget can prove too costly for the firm. Small businesses who don’t make a lot of profits are the most affected by this. Investors are willing to spend more money on marketing to improve their sales, but they always find themselves allocating less money to it and allocating the rest on more pressing matters.
Finding the best marketer
This can be a hectic activity sometimes. Every investor wants a marketer who will help them achieve their marketing goals, someone who is cost-effective, and someone who they can trust. These qualities are hard to get. So many people nowadays are offering these services, yet they have not gone through the right schooling. The investor should do a background check on the marketer to see whether he is qualified for the job.
Training your marketing team
Most firms have an internal marketing team that comes up with the right marketing strategies for the business. The team also controls the internal marketing such as social media marketing through Facebook and Twitter. It is always challenging to train this team on the right marketing methods and the new trends in the market.
Measuring the return on investment of your marketing activities
Every entrepreneur wants to know how the marketing activities are benefiting the firm or not. Finding a way to measure this has proven to be a major challenge to investors. It is important for investors to know the benefits of the marketing strategies.
In conclusion, if investors find ways to address the above challenges they will be a mile ahead when it comes to marketing.
By: David Buckingham