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]