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In order for your business to thrive, you need to have an excellent marketing strategy that will draw in new customers, retain old customers, and pave the way for your business to thrive well into the future. If you want to know more about essential marketing concepts that your business needs to understand, consider the following 3 core marketing concepts that will help your business excel in today’s current industry.

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Utilizing social media in the proper way

Social media is the cornerstone of modern marketing and it has the potential to make your business incredibly lucrative if you know how to use social media properly. Social media is the key connection between you and millions of consumers, who will use your business’s social media pages to do everything from check hours, menus, product information and available services to ask your business questions or even look for examples of your products and related work. Social media is the lifeblood of the modern marketing industry, so you need to understand the most popular platforms—such as Twitter, Facebook and Instagram—and how to use them to best effect.

Working within the local community

Another marketing concept that your business understands is the importance of local marketing and embracing the local community. This is especially true for small businesses or any businesses operating within relatively smaller towns and cities, where local reputation is everything. As a business owner, you need to learn how to tailor marketing towards the local community in a way that acknowledges the local culture and flavor, and encourages locals to welcome and frequent your business. It’s also important that your marketing falls in line with business marketing in the area; for example, in a small town where businesses are expected to avoid giant billboards, purchasing a giant billboard might be seen as off-putting and thus a poor marketing move.

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Importance of avoiding bad press and handling problems ASAP

It’s one of the most anxiety-inducing problems in the modern marketing industry: bad press. In the past, bad press could be contained to local news, but in today’s social media connected world it is possible for millions of people to catch onto bad press about your business. This has the potential to seriously impact your business’s reputation and profits, so make sure that you know how to avoid common pitfalls that lead to bad press (such as controversial social media statements) as well as know how to handle problems ASAP to avoid them spiraling out of control.

In order for your business to thrive, you need to understand and embrace the above core marketing concepts. Once you know how to take advantage of these marketing concepts, your business will be on a stronger path towards success and stability in the future.

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