7 Must Know Marketing Points

FOR BETTER SUCCESS

Consider the budget:

Marketing covers such a variety of mediums such as printed page as in news paper, magazine, flyers, business cards, banners etc; digital media as in radio and television advertisements, websites and landing pages, digital advertisements and social media; sports or other social events and charities.

With so many mediums to choose from to budget the marketing monies it can be overwhelming at times.

The fact is that no matter how large the corporation or how small the concern is there will always be a need for marketing. The only different is the size of the budget.

No matter what size the budget, it needs to be looked after and spent on a campaign that works.

Be successful in producing a desired result:

Ensuring the desired effect of an advertisement is achieved you have to spend time considering many factors, which of the many mediums you want to use, the target you aiming at and the graphics and copyright* involved.

Just because one advertisement is not successful you can’t just blame the medium or the graphics or the copyright without looking more closely at all the factors involved. Maybe your advertisement was placed at the wrong time of the month, or you used standard free online graphics (lack of originality, lack of trust) or broken English or whatever other language the advertisement is in.

By using a professional you will have a higher rate of success when it comes to advertisements because they should know about all these factors and offer proper educated experienced advice.

Commission based word of mouth:

It’s clear to see that this is the cheapest form of advertising available as little to no effort goes into its method or reach. If someone brings you a sale then that person should reserve a reward or commission* for doing so.

It costs you nothing and brings in great rewards. Remember we’re talking about marketing and how to be effective. Paying a reward for a physical sale is good business and it gives incentive for more sales.

Base the commission on the profit you make from the sale. 20% to 30% of the profit will give great incentive for more such like sales. Remember that before the sale your profit was nothing. At least earning 70% to 80% is better than earning nothing.

Natural word of mouth:

One of the best ways to grow your business is to add to it by using the clients you already have. Assuming that you offer a great service or product and do so at a market related* price there is no reason your clients can’t assist in the growth.

By letting your existing clients know that you would appreciate also being able to assist their family and friends, it opens up a whole new avenue of sales. It is most important that you get a proper or formal introduction and not just cold call them.

This avenue is also a great way for marketing and can be highly affective; and ensures repeat customers.

The power of many:

Spending time with like minded business people will help increase visibility and market avenues. The best place to achieve this is at a Business Networking* events.

The reason for like minded and not like sales is effectiveness. If you sell hammers and so does the other 20 people in the network, no hammers will be sold. But if you sell nails then all 20 people in the network may require your nail when using their hammers.

Ensuring you in the right network will be important; otherwise you will be wasting your time and money. Find a network that is looking to buy and sell, not just sell sell sell.

Every sale is made up of 4 things. The seller, the buyer, the sales item or service and the payment. If the business network consists only of seller then leave it and join another. However most of these networks do charge a membership or entrance fee so get a solid referral before asking to join.

To find a network in your area you can look in your local news paper or search for them on Google™ or Facebook™, or just ask around.

Testimonials or Feedback:

With everyone’s budgets stretched thin it’s not always easy to convince shoppers to part from their money. Just having a great product or service, even if it is at a great price doesn’t alone ensure a sale.

If you enjoy travelling to other cities or even other countries you wouldn’t just book, confirm and pay without finding out what others think about the place first. TripAdvisor™ is a great place to get such feedback from others.

How do we get such feedback from our clients and what do we do with that feedback?

In many industries a crit (*critic) form is offered to the client after the service to get the feedback from the client to determine how they enjoyed their stay or the service they received.

That testimonial or recommendation can be used in printed advertisements or posted to your website for all to see.

Products and Services:

In business you have to work on the principal of “if you going to go something (or sell something) do it right” or not at all. The best marketing you can ever do is exceptional high quality work and after market service.

Why is after market service* so important? Most people will always return to the same place for the same service if it was exceptional. They will also in turn tell others about their great experience in dealing with you.

KEY:
* Copyright – The wording involved in creating a website, social media, printed advertisement or digital advertisement
* Commission – Getting paid for making a sales or referral that turns into a sale;
* Market related – What is the norm or accepted in the market place, either business practices or pricing structure;
* Business networks – A group of business people network in amongst themselves to rally up sales and support;
* After market service – Servicing the client after the service is completed;

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By Warren M. Walker - 28 May 2016

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