The Marketing Turnaround
Start with a realistic assessment, develop a solid strategy, invest the money and prepare a marketing program. Then execute that program to deliver the sales results you deserve. YES it’s worth the investment.
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The Marketing Turnaround Start with a realistic assessment, develop a solid strategy, invest the money and prepare a marketing program. Then execute that program to deliver the sales results you deserve. YES it’s worth the investment. Marketing, When You Want More Your business could be generating solid sales, as in the "A Going Concern" story, or weak sales, as in the "Plodding Along" story. To some owners, these scenarios are acceptable, while to others, they represent missed opportunities. In both cases, these businesses require a marketing push to achieve more sales. 11 Tips For Continued Marketing Success 1. Know Your Target Audience. Understand members of your target group thoroughly, including their attitudes toward the services you offer (e.g., is the purchase of your product or service important, fun, or a necessary evil?). What motivates them, excites them, and makes them want to come back? Be honest and clear about your target group. It is not all adults or all females or all females with blue eyes. Get as close as possible to the core of your target audience and know who is really buying your product or service. Create a mental picture of your customers. See them clearly and make sure that anyone involved with your business has the same picture. 2. Be Up-To-Date On Your Competition. Be completely up-to-date on your competition. How are your competitors marketing? Are they spending more on marketing than you are? Are they spending less? What kind of results are they getting? Know what your competition is going to do before they do it and prepare yourself. Learn from their mistakes and their successes. We Don't Need To Advertise, Everyone Knows Us Sheila opened a theme restaurant a few months ago. She was fortunate to receive coverage from local newspapers and even managed to be interviewed on television. She planned to get as much free coverage as she could and did not budget for a longer marketing program. Customers came and complimented her on her unusual theme, restaurant decorations, and the coverage she received from her initial marketing efforts. After a few months, the novelty began to wear thin and the traffic dropped off. Sheila had told customers and the media that she would be continually adding new exhibits and expanding the dining facilities to accommodate larger crowds so that when they came back, there would be plenty of surprises. She couldn’t understand where all of the customers went. They seemed to have had a good time on their first visit and had promised to come back. Marketing Is NOT A One-Shot Effort It is an ongoing responsibility. If you want your business to succeed, you will have to continue to try new things, learning from mistakes and successes. Marketing can work to make the public aware of your business and to generate initial sales, but don’t make the mistake of resting on your laurels. The buying public can forget about you as quickly as they learned of your products or services. See Installment #17 for illustration 11 Ways To Get Your Marketing Started 1. Talk To Other Entrepreneurs. Talk to them about how they started a marketing program. You are not the first person to do this. Others have gone before you and are usually willing to share their experiences. Lessons can be learned and costly mistakes avoided. 2. Don’t Get Overwhelmed. Acquire a basic understanding of marketing to avoid being overwhelmed and to help reduce the fear and anxiety that occur when you enter an unfamiliar area. Read books on marketing and take marketing courses. Become familiar with marketing terminology and activities. Enough Talk, Let's Get Started Already You may have an established business that you wish to move to the next level or, like many people today, you may be considering the possibility of leaving the relative security of a steady job and venturing out into the world of self-employment. Perhaps your spouse or a close friend is in this position. Regardless of the situation, it is typical for someone who has made the commitment to build a business to ask him or herself (and anyone who will listen) a key question: How will I find new clients/customers? They Were Marketing And Didn't Realize It Fanone International is a successful hairdressing salon owned by two brothers. For the past few years, they have talked about marketing. The brothers haven’t developed any specific marketing tools yet, but they meet regularly and plan to do some ‘‘real marketing’’ soon. The fact that they have not yet created the standard marketing tools, such as brochures and ads, does not mean that they have not been developing and executing a marketing program. The Fanone brothers have been thinking about their business from a marketing perspective and have recognized that marketing is necessary to the success of their business. Their marketing is under way. When Does Marketing Start? Marketing starts long before you create a brochure or an ad. The minute you have the first inkling of an idea, you must start researching the target group, the competition, and the need for the product or service. The Difference Between Sales And Marketing In a small business, you often wear both the sales and the marketing hats. What is the difference between sales and marketing? Marketing researches the opportunity, prepares the strategy, produces the tools to inform the prospect, and places the potential sale on the table. The salesperson works with marketing to confirm the opportunity, contribute to the strategy, use the tools to inform the prospect, and move the opportunity off the table and into the cash register. |   Eric Gilboord is the Founder and CEO of Warren Business Development Center Inc. We
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