4 Marketing Skills That Make for Successful Entrepreneurs
When you read about the skills that most entrepreneurs have in common, you will often see traits like resiliency, a high drive and sense of focus and the ability to self-reflect. While these are definitely important, there are also a number of skills related to marketing that will help in your quest to become an entrepreneur. For example, check out the following list of marketing-related abilities that successful entrepreneurs should have:
Solid Knowledge of Social Media
In order to become a successful entrepreneur in this day and age, it is vital to hone your social media skills. But as Entrepreneur notes, this concept goes well beyond making a number of posts on Facebook, Twitter and other social media sites; effective and entrepreneurial social media helps you to connect with your customers on a deeper level. To help your social media campaign to be as successful as possible, spend some time researching the brands that are doing it really well. For example, Amway’s Facebook page is a great place to start learning from the experts — in addition to posts about their products, the page features inspiring stories about their independent business owners, information about accolades the company has earned and posts that ask readers to reply with their own experiences.
Focus On the 4Ps of Marketing
To be a solid marketer, it is important to learn the “4Ps,” which in this case are product strategies, pricing strategies, product distribution strategies and promotion strategies. If you can get a handle on these four skills, you will already be ahead of the game as an entrepreneur. After all, if an entrepreneur has a great idea for a product or service and then prices it way too high and does not have any idea how to advertise it, the new business may ultimately fail. On the flip side, understanding how to come up with the services and products that your target audience really wants, pricing them properly and making it as convenient as possible for your customers to find and buy what you are selling are marketing-based skills that will help you to succeed in your new life as an entrepreneur.
An Understanding of Spending Money to Make Money
Sometimes, budding entrepreneurs may balk at the idea of spending their hard-earned money on things like test campaigns, lots of advertising and other approaches that can ultimately help a new company succeed. On the other hand, someone with a strong background in marketing understands that you often have to spend money to make money — which means shelling out the bucks to host a grand opening at your new location that includes door prizes, refreshments and promo items for the people who attend, running a small experimental campaign to see if an idea or product will work and working with a local public relations and marketing firm to get the word out about the company.
Being a Great Writer
Successful marketers are typically skilled writers. You can carry over this skill in your new life as an entrepreneur. If you have ever read a blog that is filled with spelling errors, visited a website with unclear headlines and tried to figure out what a post on social media was trying to say, you are already aware of the importance of effective written communication.