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5 Secrets to Marketing Magic
by Katie Darden of
Career Life Institute
"...Because its purpose is to create a customer, business has two — and only two - functions: Marketing and innovation. Marketing and innovation produce results, all the rest are costs." Peter Drucker
1. Understand Your Product
If you can’t state it, your customers won’t see, understand, or want it.
What are you REALLY selling?
You must be able to articulate this is a way that makes others want to buy from you.
Features vs Benefits
Always focus your customer’s attention on benefit and result.
Unique Selling Proposition/Competitive Advantage
What makes you/your product distinctively different?
2. Have a Marketing Plan
Whatever marketing plan you intend to roll out, test first to measure your success probability and to reduce the risk of failure. Test prices. . .Test product. . .Test headlines. . .Test everything. Have a diversified effort and continue to test EVERYTHING.
Some marketing areas to consider including in your plan:
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Public Relations
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Publicity
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Direct Mail
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Personal Selling
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Trade Shows/Industry Participation
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Newsletters
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Specialty Items
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Articles or Books
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Speeches, Seminars, Workshops
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Referrals
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Networking
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Ads – newspapers, signs, flyers, radio, TV. Yellow Pages etc.
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Thank you notes
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Coupons, Special Offers, etc.
3. Understand Your Customer
How do you create real value? By understanding what’s important to your customer or client...
Who is your “ideal” client?
Ask yourself:
“What do I know about them, their buying/spending habits?"
"Where would my customer look for me?" Then make sure you put "yourself" (your coupons, advertisements, etc.) there.
What do the clients need? How can you find out?
Ask your clients:
"How can I help you?"
"How can I make it easy for you to buy from me?"
And of course: "What else?"(do you want, need, wish to tell me...)
4. Value Existing Customers
Create a data base
Track customer buying patterns as well as the effectiveness of your marketing plan. Give them offers of what you already know they want.
Special offers/preferential treatment
Existing customers have already made a commitment (they’ve spent money with you), don’t reserve your “specials” just for new customers – reward the loyal (existing) ones, too. It's much easier and more cost effective to sell to existing customers than to try to find new ones.
5. Collaborative Marketing
Networking
Networking is really relationship building. When you want to expand your market, an effective way to have instant credibility is to use the influence of someone who is well respected. Remember, it's necessary to provide value, not only in the product or service you are offering to the "new" network, but also to the person who is introducing you to their network.
Host/Beneficiary Relationship
Consider who you know that you could "team up with". Have you ever asked your suppliers or vendors for help in growing your business? They have an interest in keeping you in business, too.
Referrals
Always ask for referrals. And then, make sure you thank and give value back to those who provide the referrals.
What makes some businesses more successful in the marketplace? They continue to explore new ways to bring in business. Remember what marketing guru Jay Abraham has to say about your marketing plan:
"When you limit your business to doing things the same way every other competitor of yours does it, you can only produce modest, incremental gains at best."
©1998 Katie Darden, Career Life Institute
Katie Darden is a professional coach who enjoys working with people in transition, especially entrepreneurs and small business start-ups. She is co-owner of the Career Life Institute
(http://www.careerlife.net), and loves to help people identify and then create the results they deserve in their personal and professional lives.
You can Subscribe to her Free Monthly Business and Career Newsletters at
http://www.careerlife.net/subscribe.html
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