[Money Monday] 7 key ingredients to starting a business

Marketing strategy

Marketing strategy

Do not always expect a rapid increase in sales as soon as you start marketing. From the start, it is imperative to create awareness about your product or service than to concentrate too much on sales.

Since marketing is important in running a business, you should assign a budget solely for it. Experts advise that you do this every quarter.

When marketing, reach out to influencers and build a relationship with them. This could be TV or radio presenters, social media people, YouTube channel hosts, and so on. Encourage people to recommend your products to others and pay them a commission only when someone purchases your products through their referrals.