Momentum - Business to Business Online Magazine | Page 10
If you have a successful business, you probably have a
marketing strategy. If your business is not as successful
as you would like, you probably don’t have a marketing
strategy. If you do have a marketing strategy, and your
business is not as successful as you would like, you may
want to consider changing it.
The internet has grown wildly since 2005. The internet
has become important for nearly every industry. I’ll bet
you buy things online every month. I’ll also bet you pay
some of your bills online as well. See, your financial habits
have changed since the internet provided a platform for
this to happen. Nearly every American frequently uses
the internet.Therefore, if an online presence or custom
website is not part of your marketing strategy you may
want to ask yourself why not?
Your Marketing Strategy should consider several
factors:
* Your Products and/or Services
* Your Pricing
* Your Clients (past, present, & future)
* Your Company
* Your Industry
* Your Competition
Products and/or services can impact your marketing
strategy if availability becomes an issue. Make sure
availability is not a factor. Have a backup plan just in
case your supply chain gets disrupted. It’s better to
offer something different than offer nothing at all. Being
able to change quickly can be the difference between
going out of business and surviving.
Pricing says a lot about you and your business.
Understand it and make sure your clients understand
it as well. Being too cheap is just as bad as being too
expensive. Unless you have a valid reason for cheap
or expensive pricing, it’s probably not in your BEST
interest. Be aware of your industry standards, your
competition, and your client’s perception of your
pricing.
Clients control your business future with their
willingness to pay the price that you are asking.
Always pay attention to them as they are a true
barometer of your marketing strategy. Listen to
them! Make the changes in your business that they
are expecting and desiring.
Make sure your company understands and can
deliver what your marketing strategy is calling for.
If you can’t deliver your plan, then it is an incorrect
plan at this time. Change your plan to match your
abilities. Be honest! Don’t shoot yourself in the
foot, trying to be something you’re not.
Know your competition and pay attention to them.
If they are worth their salt, they will be paying
attention to you. Competition is good for everyone.
It makes us all better at what we do. Don’t be afraid
of it. Embrace it!
Make sure that you are flexible with your marketing
strategy. Change is not always a bad thing. It often
allows for growth.
By Steven Reddy, Select Marketing
[email protected]