Business owners today primarily think about marketing as making a brochure, advertising on Social media or building a new website. While these activities are part the marketing process there is much more that needs to be considered before spending your valuable time and money on any lead generation activity.
The top 10 primary marketing systems make up a solid plan to fast track getting and keeping customers and ultimately earning more money.
#1 – Design and commit to your brand
When you buy a product or a service, you have a mental picture of what your purchase will do and how it will improve your business or life. It only takes a split second for consumers to make a judgement about you and your company. All things are considered, including first impressions, previous experiences, the way your business looks, the tone you use to answer your phone or e-mails and the energy in the environment. More than a clever logo your brand is the experience consumers have of doing business with you.
Think of your email signature, how clean your vehicles are used for business, your uniform if you have one. All things that help people recognize and have a good feeling about you and your company.
#2 – Define your product
You may be surprised to learn that the majority of your prospects don’t know exactly what it is that you are offering. It could be because you have too many products and are trying to be all things to all people, or maybe you have not packaged your offering in a cohesive easy to buy unit.
When consumers are confused, they are less likely to buy. Products are available everywhere and consumers have a choice who they do business with.
Getting clear about what your product is and why someone would be interested in buying this from you is essential to increasing sales.
#3 – Target your Marketing
Not everyone is your customer. Target marketing allows you to customize your message to a specific chosen group of consumers in a focused manner.
Learning the warning signs of a bad fit is as important as understanding your ideal match. In detail understand everything about your ideal customer. Where do they live, which generation do they belong, what are they thinking, what specifically do they want from you and what attracted them to your door? Pay attention to everything about your clients and use buying signals and patterns of behaviour to drive greater revenue.
#4 – Promote
Promotion is lead generations, getting the attention of prospective buyers.
Dig deep and look strategically at which marketing activities are producing results. Be careful not to get distracted by media sales people with “special offers”. Once you understand your customers buying patterns and preferences it becomes clear where to focus your promotional dollars. Structure your lead generating activities so that there is accountability to track and monitor results. Build continuous communication between the sales and the rest of the team so that you know as it happens what your customers are asking for. Structuring your systems in a way that makes potential customers easily to find you.
#5 – Strategically Price your Product
The price is your assessment of value of your product. What the purchaser receives as value from consuming your product.
Having as much data about your specific market and customers behaviours, expectations and habits supports the ability to effectively price your product. Your price depends on your objectives, are you positioning yourself as a premium brand like Mercedes or are you the bargain basement option seen in the lower end Fords.
#6 – Have a sales process in place
Sales is lead conversion. Moving from prospect to paid customer.
Doing “marketing” is only half of your business development process. The other half is figuring out now that you have people interested in your product how to get them to buy. Converting leads to buyers requires a system for followup and relationship building. It takes work and time. You need to understand your customers buying patterns and learn patience and skill to stay in the relationship long enough to close the deal in how ever that feels best for them.
#7 – Nurture existing customers
One of the most powerful and essential systems for expanding your customer base it taking care of your existing customers that are referring new business your way. It’s so easy to take those deep relationships you have with your best customers for granted. Referrals is your least expensive way to grow your business. Putting in place recognitions systems that celebrate and support these relationships along with being open to constructive feedback will ensure that this lead generation tool stays strong.
#8 – Use your Influence
People buy from people and brands that they trust. Humans need to feel connected Trust comes Hands down personal networking is the fastest and most effective way to generate new business for your company. Getting involved in an organization or project that also serves your community compounds the effect. Contributing in some way to your industries organizations is another powerful way to gain experience and insights into business development practices and potential opportunities. In business and in life it is sometimes not what you know but who you know.
#9 – Keep track of your customers
Customer data is an asset. It builds equity. Customer information allows you to be a better provider, it saves you time and helps organize your sales system. How you collect, store, manage and use your data are all systems that have high value in your marketing and sales results. Taking the time to research, customize and become fully trained in a client data management system is essential.
#10 – Make it easy to buy from you.
How easy is it for customers to buy your product? Place represents the location where a product can be purchased and the distribution channel and logistics it took to get it there. It is about getting products to your consumer and having the inventory available to fill their demand. This may include any physical store (supermarket, department stores, retail store) as well as virtual stores (e-markets and e-malls, your own website) on the Internet.
As you can see it is WAY more than just promotion. The risk of “winging” your marketing and sales strategy is the cost. How much is one new customer worth to you? Imagine now easily attracting that prospect consistently. What is the cost of online ads targeted at the wrong market? What if you could get this exactly right. Small adjustments make a huge difference. I hope the above helps.
If you need to create structure and systems in your small business to consistently attract and win new customers inquire about joining our next business development program starting in the fall. Write back and we will get you on the list for the next Cohort.
Thank you for sharing your Entrepreneurial Journey,