Marketing Strategy That Sells – Do What You Do Best

Marketing-strategy-that-sells-do-what-you-do-bestWalt Disney said, “Do what you do so well, that when others see you do it, they want to see you do it again, and will bring others to see you do it.” This was the strategy Disney used in marketing Disneyland and look where Disney has taken Disneyland. Disneyland is the world’s most popular theme park.

What is your business? Are you an expert in your line of business? Or if not, do you have someone that is an expert in your line of business?

Doing what you do best in your business means offering the best quality that you can offer, whether it’s a product or a service. You might wonder how doing your best in your business can be one of your best marketing strategies… here’s how it works: when people (or customers) experience the ‘best’ of what you have to offer, they will be satisfied enough to do the following:

  • Customers will come back for more. This is called customer retention or repeat customer. This is where you will build your business relationship to the next level to keep loyal customers.
  • Customers will not consider going to your competition. This is your captured market. There will be businesses out there like yours but these customers make a conscious decision to keep on going to you for your business.
  • Customers will talk about how satisfied they are with you. This is free advertising for you. Isn’t this great? Your customer will do the talking for you, about how excellent your product or service is.
  • Customers will endorse you to others who are also interested in your business. When asked about a product or service like your business, your customers will have you top of mind, and they will endorse or recommend you outright.
  • And it goes on and on… the cycle is endless…

Having said that, now take a hard look at your business and see how you are at doing… Here are a some questions you might want to ask yourself to see where you are:

  • Do I have the best quality product or service in what I offer?
  • Do I continuously look for opportunities to improve it?
  • Are my customers getting the best benefit from my products or services?
  • Am I communicating well to my customers? Do I understand their needs – Am I giving value-added service to my customers, beyond what I am already offering them?
  • Do my customers look to me for advice and trust my suggestions?
  • If I were not the owner, would I buy my products or services? Would I recommend it to friends & relatives?

If you pass this self-examination with flying colors, then you are on your way to exercising one of your best marketing strategies – doing what you do best.

By |7:55 am|Marketing Help|Comments Off

How To Improve Sales

Failure To Monitor Your Results

 

Results. That’s all that matter in business. Results.

 

Any promotion that’s worth putting your time, money and effort into, is worth measuring how well it performs. The only way you can know whether the promotion is worth running again or what you may need to do to change or tweak it to make it more effective  is by knowing the results the marketing effort produced. Did you get more prospects? Did they convert to more customers?

 

It’s astounding how many business owners don’t understand this simple concept.

 

You’ll let the local newspaper advertising salesperson sell you an ad and layout the ad, because they are “the experts” then let them run it with no way of knowing whether or not anyone called or a customer was obtained as a result of the ad. These “institutional” bran type agencies love you, because you have no idea whether the investment has worked, and they are in no way accountable, and they will keep selling you more and more, because “you have to advertise regularly” to be effective. Ha!

 

The ad has no accountability or measurability.  So next week or next month, they convince you to run it again and you continue to complain about how bad business is.

 

As a smart business person, you should never consider running an ad or executing a mailing campaign or promotion without having some type of response mechanism to measure the results. However, it happens every day. And millions of dollars are wasted because of it. If you want grow your business, you need to be smarter.

 

Don’t fall into the trap of thinking your ads will create some kind of magical awareness of your product or service. Every one of your ads and mailings and sales promotions must have a definite, targeted purpose. And EVERY How To Improve Sales must be measured to see that it does achieve that purpose.

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Here’s a simple 4-step system you can set up to measure the results of every advertising or marketing tactic you implement to promote your business:

 

1. Put together an “Advertising and Promotion Results Analysis”book. A simple 2 ring binder works well for this.

2. On the inside of the binder, insert a few clear plastic page protectors.

3. Print out a few copies of the “Advertising and Promotion Results Analysisform shown in Part 2 of Mistake #2, and insert one in each of the page protectors facing the back of the binder.

 

Every time you run an ad or Improve sales, put a copy of that ad or promotion in one of the page protectors facing the opposite direction of the Analysis form. If you do this every time you run an advertisement, or promote your business and you carefully analyse the results, you’ll quickly see which promotions are working, which ones need tweaking to improve, and which you should toss out ASAP.

 

As your binder grows, make three additional binders.

 

In one binder place all your “A” ads and sales letters – the ads that pulled the best.

 

In another binder, place the ads and letters that produced marginal results, or at least broke even; you could experiment with these in the future. And in the third binder, put all the “losers.” The ads and letters that absolutely bombed, which you want to stay away from in future.

 

This way when you are ready to do another Improve sales or want to boost sales you’ll know which ads or letters you can depend on to model the next promotion.

By |7:17 am|Marketing|Comments Off

Improving Customer Satisfaction

Failure To Let Your Prospects And Customers Know The Unique Benefits They Get From Doing Business With You And Not Your Competitors.

 

You need a Unique Competitive Advantage, or UCA (or USP). It’s the thing, the reason, the advantage that will make it not only worthwhile but beneficial and advantageous… even desirable for others to do business with you.

 

Here’s a simple exercise you can do to come up with your UCA:

 

1. Make a list. Get a piece of paper and write down every advantage you can think of why someone should do business with you. Make a big list of customer satisfaction. Don’t worry about whether or not your competitors offer the same advantages at this stage. Just get the points down on paper. Think in terms of how your business might fit in the following categories:

A. The name of your business.Does it say what you do, and position you in such a way that there can be no mistake? Can there be any doubt what kind of business “Modern Man’s Hair Style” is.  Can you use your business name as an advantage?

B. Exclusive niche or target market.Are you trying to be all things to all people? Or do you occupy and dominate (or have the potential to dominate) a certain market? The tighter a group you can cater to the more control you’ll have and the more opportunity you can have to dominate and control it.

C. Expertise.Do you have some type of specialised understanding of a particular market so you can become a recognised expert? If you do, people will look to you for help and expertise they can’t get elsewhere and you’ll have a big advantage.

D. Guarantee.A customer guarantee can be used as a massive unique competitive advantage. Think of the big stores that offer guarantees. It works for them to get customer satisfaction and it will work for you too!

E. Market positioning. How are you seen in your market? How do you stack up against the competition? What’s your market’s perception of you versus other competing businesses? Domino’s didn’t go head to head with other pizza shops trying to make a better pizza – they went after quick, in-home delivery and completely dominated the market.

F. Price. How do your prices compare to your competitors? Do you have the lowest prices for your products, and operate as a “discount” operation? Or, do you take a higher price-point position and operate at a more “exclusive” level? Either can be an advantage depending on how you position your business and the products and services you sell around it.

 

These are just a few of the areas you may want to consider as your unique competitive advantage. There are many more, but this will get your thinking started.

 

Take the time to develop your own unique competitive advantage and the results will be more leads, more prospects, more customer satisfaction, more sales and more revenue, and you will grow your business quickly.

By |7:14 am|Business Consultants|Comments Off

Grow Your Business

You Need More Than Low Prices To Remain Competitive In Today’s Changed New World Economy

CompetitionIt is no longer possible to maintain a competitive advantage for an extended period of time based only on the products or services you provide or the prices you charge.

These days, it’s easy and affordable for almost any businesses to take advantage of cutting-edge technology, low-priced skilled labour or outsourcing, and more efficient delivery or distribution systems so they can enter and compete in your marketplace.

This wasn’t the case not so many years ago and you could be much more confident of maintaining your hold on the market. These days you need a number of simple to implement marketing tools to grow your business.

Even if your grow your business can offer a unique product or service, or a lower price on similar products or services that are currently offered, it won’t be long until your competition finds a way to duplicate, or match your business’s performance. And that will quickly put an end to any competitive advantage you may have had. Sad, but true.

That means, if your business can’t depend on its products, services or prices for your competitive advantage and you want to survive and thrive you are going to have to perform exceptionally well in a number of critical areas in your business!. You will need to consider your grow your business as well as how your  will distinguish your business from all the competition, so your prospects choose you.  

Why You Need A Marketing Plan!

Marketing Plan“Nothing happens until something is sold”. To grow your business you need to increase sales which will lead to more profits.

Like it or not, selling is the process of getting goods and services into the hands of consumers in return for money. It’s what the world economy is built on.

To be able to sell something, it has to be produced and this means someone needs to be employed to produce it. For the buyer to have money, they need to have a ‘job’ that produces and sells something so money is created to provide their income.

Business Marketing plan is the process of bringing together potential customers or prospects and certain products or services so an agreement to transact can be reached.

Effective Marketing plan is critical to the success of any business. If your marketing is ineffective, potential buyers may never find out about the products or services you offer that they need or want which will probably mean a sale is never made.

There are alarming statistics around how long businesses stay in operation. Some say as many as 80% won’t be around after the first year and many more won’t survive beyond 5 years. Learn to promote your Marketing plan and you are well on the way to not being one of these failures.

Despite this, most people launch into their dream business with little or no planning, and with no real idea of what can happen to them because they don’t properly plan.  Even if many business owners consider the ‘normal’ planning issues, like a business plan, most never even consider how they will get their product or service to be noticed in the market place in a way that people will stop and take notice and actually want to buy. Very few people take the time to develop a business marketing plan that will help ensure their survival, which is a real shame.

To be successful in today’s changed new world economy; business needs to do many things right and probably differently to everyone else. You need to answer the question in every prospects mind:

“WHY should I do business with YOU, compared to all your competitors out there?”