Reaching out to customers

CUSTOMERS are the life-blood of any business. Successful companies need to promote and market their products, in order to have a constant flow of loyal customers, who not only provide repeated business, but are happy to refer their friends. Is there a magic formula for promoting your product? Are there different marketing strategies for online or retail stores? How can businesses turn existing customers into brand advocates? Mentor John explains.

I have started a new business in a relatively crowded industry. My product is superior to my competitors', though I need customers to be willing to give it a try. What are the best promotional strategies for new players?

Work with a good advertising agency to find the pattern of media consumption of your target market, including the most important social media. You should already have conducted market research to establish the demand for your superior product. Use the market data and your exclusive knowledge of your potential consumers to identify the most likely media for reaching them.