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Translate Into YOUR Dialect Today's Feature Article
Deadly Marketing Sins and How to Fix Them
It seems nowadays every marketing guru and their brother-in-
law has a "deadly sins and how to fix them" book, ebook or
at least an article! But apparently nobody is reading this
stuff! How do I know? Because nine out of every ten
businesses continue making the same marketing goof-ups. The
most amazing part is -- they are convinced their marketing
is great and their phone will be ringing off the hook any
moment now! Time for a reality check!
Are you guilty of these four marketing sins? Find out how
to fix it!
Deadly Marketing Sin Number 1 - Not Standing Out from Your
Competitors
You want to be one in a million not one of the million. In
the marketing jargon it's called a Unique Selling
Proposition (USP). I call it a HUB -- Hot Undeniable
Benefit of doing business with you. Your HUB sets you apart
from the crowd. It tells your customers why you are special.
And it answers the question your customers are asking
themselves, which is: "Why should I do business with you
versus anyone else?"
So how do you go about discovering your HUB? Do you know
what makes you different from others offering similar
product or service? The more competitive your industry the
more important it is to emphasize even the smallest
differences. Do you cater to a specific group of people?
Are you better than others in addressing a specific issue?
Do you guarantee your work? How about the one thing no one
can duplicate - what makes you -- you?
If you can't find anything unique right now, look for
unresolved problems in your industry and become an expert
in providing a solution to them. Here is a good example.
You've heard of a small parcel delivery company called
FEDEX, right? Do you know their USP? It's: "When you
absolutely, positively need it overnight. Guaranteed."
Funny thing is they are no longer the only company doing it
-- but they offered it first.
Discover your HUB, articulate it in all your marketing
messages and watch your results soar.
Deadly Marketing Sin Number 2 - Assuming Your Customers
Know As Much About Your Business As You Do
Small business owners are a very special breed -- we walk,
talk, breathe, eat and sleep thinking about our business.
Listen, just because you think about your business all the
time doesn't mean your customers do the same!
Fact is, I can count on one hand the businesses I became
exposed to in the last twelve months that didn't fail to
educate their customers on how they solve their problems
and meet their needs and wants.
Your customers don't really buy products and services. They
buy SOLUTIONS to their problems. Use articles,
presentations and case studies to educate them about WHAT
you do, HOW it works and WHY it's the only logical solution
to their problems.
And don't just do it once. Frankly, if you don't have a way
to consistently and automatically keep in touch with
prospects, customers, centers of influence and strategic
partners -- you are missing the boat!
Deadly Marketing Sin Number 3 - Wasting Time and Money on
Marketing Strategies That Don't Work!
Do you know which of your marketing efforts result in new
business? Do you ever calculate the time, money and effort
it takes to get a new customer from each promotional
strategy you use? Why? Because if it is working -- you want
to use it more often! And if it isn't - you need to stop
wasting your money!
Case in point: most professionals believe that networking
is the best way to get new business. And it can be - but
not always and not for everyone. Find out for yourself. Add
up the amount of time you spent networking last month. Put
a dollar value on it based on your fees. Add the actual
price you paid to attend those events. Then divide this
total amount by the number of new customers your networking
produced. Are you happy with your results? Or is it a shock
to see what it actually costs to get new clients by
networking?
It doesn't matter if it's networking, advertising, referral
or joint venture strategies -- if you don't know your ROME (
Return On Marketing Efforts) I guarantee you are wasting
money doing things that don't work! Every marketing
strategy can be tracked and measured. So figure out what
works best for you!
Deadly Marketing Sin Number 4 - Missing Out on Repeat
Business
You've heard about the back-end-sales, haven't you? Are you
doing it? It's astonishing how many small business owners
do not develop strong relationships with their customers
and have no plan for generating repeat business.
You see, one of your biggest costs of doing business is
marketing and getting new customers into your funnel. And
once you've done a great job for them, and then you nurture
the relationship you've developed, it's so easy to ask for
more business. But you have to develop different levels of
products and services to offer to them.
Listen to your clients and develop new offerings to respond
to their needs. Create assessments to uncover hidden
opportunities for additional projects. If you can't or don'
t want to offer those new solutions -- partner up with
someone who does. McDonald's made a fortune on "supersizing"
their fries -- time for you to start thinking about
supersizing your business with each client.
Bottom line is this: when I hear businesses talk about bad
economy, clients not having money and overall complaining
about how tough it is to make a sale, I can always pinpoint
their poor performance to at least one of those marketing
sins. Frankly, there is no such thing as a shortage of
business -- there is a shortage of knowledge how to get
that business.
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Whoever said anybody has a right to give up?
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