Selling your product is the foundation of business

Sales are the lifeblood of any business. Selling your product is the foundation of business success. Sales drive profits. Sales drive business expansion. Without sales, there is no customer satisfaction or customer relationship.

Therefore, one of the critical functions of any business organisation, small, medium or large scale is marketing. Business enterprises spend billions every year marketing their products to the target market. This might be in the form of advertisements like billboards, television, radio, newspaper ads or sales promotion techniques or public relations.

The critical question for every business is how to maximise their marketing expenditure. It is essential that the benefits exceed the cost. Therefore, the burden of every marketing manager is to delineate the marketing media that is most profitable for their business.

A world outside your ‘world’

We live in a globalised market that has been made possible by various technological innovations, especially the internet and mobile technology. The urgent question for every business owner is ‘what is the best way to maximise the globalised market for my business?’ Part of answering this question is another question, ‘how do I market my business in a globalised economy?’

According to the Statistics Portal, as of April 2018, there are 4,087,000,000 internet users all over the world. In like manner, there are 3,297,000,000 social media users. More than 50% of the world population are active internet users.

For every traditional means of advertising, your reach is limited to the number of people within your geographic location. Even if you are a large scale company, your advertisement can reach only as much as the population of your country and maybe some neighbouring countries. China, the most populous nation has less than 2 billion people. Traditional means of marketing can only reach as much as 2 billion potential people even in China.

But with the internet, the scope of ‘target market’ has changed. Your target market does not have to be the people within your geographical location. In a globalised economy, your target market can span across the whole world. A firm in China can position their business online to target customers in Canada. A manufacturing plant in Nigeria can target customers in Russia.

This is most especially true for people who sell services. A writer in South Africa can be writing for a magazine in the United States while an Accountant with the knowledge of International Financial Reporting Standards and accounting packages can be prospecting clients in far away Australia. A graphics designer in France can design flyers and banners for a client in Ghana. A relationship or self-development expert in Britain can be prospecting clients in Spain. In a globalised market, not even language is a barrier to such opportunities.


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