4 Foundations of Marketing Every Business Owner Should Know

Have you crafted an elevator speech yet?

These are the foundations of marketing that every business owner should know:

  1. Craft your elevator speech. What does your company do? Why? How are you different? What’s your mission? What’s your passion? How are your products different and what is their value? Incorporate that value set and who you are into your marketing messages. Include it in everything from advertisement headlines to copy on your website, signage, and more.
  2. Remember that you aren’t always your target audience. Are certain designs popular? Are some products not selling well? Are there questions that are common about your product that you can assist with and help others? Watch for trends and listen to what the market is saying so that you can offer value to your customers.
  3. Strive to measure your marketing efforts. From customer referrals to how many purchases are made on a Sunday on your website, make sure you have a feeling for what works and what doesn’t to further tailor your marketing efforts and advertising spending.
  4. Be where your target is. Are you utilizing all reasonable means to reach them? Are you offering the right product at the right time in the right place for the right price? Keep your value in mind when offering your products and services and always strive for continual learning and improvement.

Sara Nicholson

Sara Nicholson is the communication and digital engagement specialist at Universal Woods. She works with Universal Woods' three brands: ChromaLuxe, Unisub, and ResinDek.

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