A huge part of a successful business can be found in their
marketing plan. It's the corner stone that builds a strong
and successful business. A business runs on the strength of
their marketing. Without marketing, a business will soon no
longer exist. Marketing consist of two parts, a product or
service and demand an need for that product or service.
Formula for marketing begins with finding a need and then
creating a product or service that fits the need. Knowing
who has the need or problem becomes your target market. It
doesn't make sense to target the plumbing industry if you
sell electrical parts but so many businesses do just that.
Another scenario that contributes to a business downfall is
trying sell something to everybody. Find out who needs your
what you offer, the size of the market and carry a diverse
line to meet their needs. If you can solve their problem
completely, you'll develop a loyal following. A steady
stream of customers.
You can ensure that steady stream of customers by paying
attention to two areas. First, determine you can meet your
customer demands without a heavy upfront investments.
Second, never promise more than you can deliver. A good rule
of thumb... Over deliver and under promise.
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Cash flow gives you the money to market and marketing brings
in your cash flow. Important to make sure they are working
together. A bad buying decision of too much product reduces
working cash flow when that product doesn't' move out the
door. Realistically anticipate your customer needs and
purchase accordingly. Tying up your cash in product can
lead to disaster before your business gets the chance to
take off.
Another to include in your marketing plan is a realist time
line of what your company can do. If your research indicates
it can take 14 hours to complete the job, don't tell your
customer it will be finished in 4 hours. The 4 hour promise
may clinch the first sale, but when you can't deliver, you
loose the potential of repeat business. Your reputation is a
marketing commodity... good or bad.
Always remember, when it comes to marketing, that you can
never have enough knowledge of your customers needs.
About the author:
Tina Valiedi is the President for MP Strategies Firm
providing super targeted web traffic to internet
businesses. Find more advertising article at
http://www.mpstrategiesfirm.com |
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