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Profitable Marketing Strategy Elements for Ultimate Success

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Posted by steve on March 17, 2011 at 3:13 pm

Marketing isn’t just about doing an Advertising Campaign or mailing a Newsletter; but rather, great marketing is also about having an effectively run company and doing the right things to really beef up the company’s  Business Plan. The essential marketing elements in this article will help a company to successfully implement a chohesive and profitanle marketing strategy and plan. 

Service 

In a Marketing Campaign, Service should be the central focus (and it certainly should be the focus of a successful business). Service isn’t just what you offers your customers; it is really about what your customers want and wish for. If you design your Service Policy around your customers and clients wants, then you will see exponential success from your Marketing efforts. Listen carelfully to what your customers are telling you and provide services that fill the gaps in your customers’ experiences.

– Why do Customers patronize a business? The five top causes are:

  • Confidence
  • Quality
  • Service
  • Selection
  • Price

 Address all five elements in a Cohesive Marketing Plan, you will be successful.  Remember that each shapes on the other in the indicated order, so Price becomes less of a high or low question, and more of how it relates to the preceding four elements.  You can also put Referrals on top of the list, as that instills Confidence and an expectation of Quality.  Referral Business is the best business.

Public Relations

Costs you little or nought but can brand your business very effectively, giving you a well known Identity in your Market place.  Free PR stories, articles and news clips can be extremely effective in establishing your Identity.  You Marketing Programs will be much more effective when you have a well established Brand and Identity.  Good publicity gives you credibility, stature and authority.  However, bad publicity can quite adverse so it is very important to frankly and forth rightly address any bad publicity or dissatisfied customers.  When submitting company news to the media, always send a story that is worth publicizing.  Give them a reason to give you free publicity.

Put together a good Press Kit (hire a PR Pro if needed) and take the media person to lunch.  Relate your Company story and hand over the Press Kit.  You are 80% of the way there!  Cultivate your media relations so get great broad exposure when you submit your news.  Always give the media an angle – a reason to run your story.  Become a Media Resource by giving your media contacts important information about industry changes or consumer tips or free business advice.  It will come back to you three fold!

Remember, PR is all about creating a Buzz.  Word of mouth, viral marketing can be extremely successful for your business if it is positive publicity.  Social Networking and solid  SEO Strategy can be a potent way to spread publicity about a business.  Remember to have a system and forum in place to address any bad publicity because viral marketing can really accentuate the negatives, very quickly! 

Follow Up

Follow Up is absolutely key! A lot of companies lose sales momentum when they stop following up with their customers and stop staying in contact with customers. Remember that Marketing really begins in earnest AFTER the sale. Marketing is a continuous process and cycle. Great ways to stay in front with customers are with newsletters, handwritten notes, phone calls, email tips, discounts and specials, but as importantly, ask them for referrals! Always provide your customers with you company news- keep them updated and connected to you. Form that strong bound and keep nuturing that bond – it is the the FUTURE of your business success! As Business Consultant I often see how companies really overlook follow up. It is a source of new business!

Word of Mouth

Word of Mouth advertising can be very effective if you figure out where else your clients conduct business.  Then partner with those businesses to effectively self-promote and spread the word.  It is a win-win for both companies as you are more effectively satisfying your customers’ needs.

Competitive Edge

All the Marketing in the world will be ineffective if you don’t have an Edge or Advantage to offer your prospects compared to the Competition.  Remember, it isn’t solely about price.  It is matching benefits, advantages, service quality and value with a fair price that helps you beat out the competition.  Your Marketing should stress your Competitive Advantages – don’t wait to verbalize them during your sales exhibit.  Competitive Edge should be the center point of any Marketing Plan.

20-30 Seconds

This is usually how long you have to interest a prospect.  So it is vitally important to be able to clearly communicate your offering and advantage very quickly and succinctly whether it is through a Marketing piece or when in person with a prospect.  The first 10-15 seconds is decisive.  This is when you peak passable interest to listen to why doing business with you is a must.  Always keep the presentation (whether through Marketing or in person) personal to the prospect and personal to you.  There should be a common sales presentation theme end-to-end all your Marketing Programs, Advertising Pieces, Personal Contacts, Telephone Calls, Emails – any and all contact with prospects.

Guarantee / Warranty

Both are see through, empty-bellied promises unless you have something credible and real backing them up.  This says to your prospects that you believe 100% in your product and service.  Don’t use it unless it is genuine!  Show what your customer satisfaction will be or look like, make it real to the prospect.

Branding

Develop your Brand through strong Identity Marketing. Good branding can only be achieved with unvarying, widespread Marketing through a crosspiece section of related to advertising mediums.  Commonality of Marketing Themes throughout all your Marketing Platforms goes a long way toward establishing your business identity and brand.  With that platform in place, use Viral Social Networking to spread your brand globally.

Your Best Marketing Source = Your Customer

Having excellent relationships with your Customers is the absolute best way to get a steady flow of qualified prospects.  Moreover, it gives you the opportunity for repeat, extremely profitable business.  Ask for referrals before, during and after a sale to build an excellent pipeline of business.

– A Mentor Grouping

Select a group of 4 – 6 business people you appreciate and have a mentorship meeting with them once per quarter.  They will not only help you with the directionmanagement? and success of your company, but also they will be an excellent source of highly qualified referrals.  This type of referral gives you instant credibility.

– Networking Clubs

Join one that doesn’t have too many competitors and can send you your “ideal” client. You can spend all day needlessly and unproductively going to networking events.  Choose a couple and go consistently.  chip in valuable information and advice with you!

– Who is Your Best Customer?

Simple Answer:  Your existent Customers!  Understand that a satisfied customer is your best repeat customer, as well as, referral source.  One satisfied customer can exponentially bring you increased sales.  60-79% of your Marketing Budget, or Emphasis, should be directed toward your existing customers.  I said “or emphasis” since marketing to an existing customer can be quite cost effective.  It costs 80% less to keep an existing customer as it is to land a new customer.  Remember two things:  Repeat Sales and Referrals.  Between the two, your marketing plan is 70% covered, which minimizes the necessary cash out lay for the remaining 30% of your Marketing Budget.

About the Author

Frank Goley is a business consultant, business turnaround consultant, and business planner for ABC Business Consulting. Frank is an expert in writing, developing and implementing business plans, business turnaround plans, business funding plans, marketing plans, strategic plans and web marketing plans. Frank offers comprehensive business consulting, business coaching, business turnaround consulting, along with web seo, web development and web marketing consulting, to small and medium size companies.. Frank is author of the business plan book, The Comprehensive Business Plan Workbook – A Step by Step Guide to Effective Business Planning, and he has over 50 published articles on business success strategies. He also writes the Business Success Strategies Blog.

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