Businesses, and Small Businesses in particular are facing an extremely tough marketing environment and finding it very difficult to maintain their current position and indeed, remain in business. That is not news but it is reality and it is important to face up to reality.
Individuals and groups on occasions of economic turmoil and financial pressures frequently put their heads into their hands and develop, unknowingly and unwittingly, mental blocks when it comes to dispassionately assessing their situations. This is stress and pressure and far from uncommon.
Sometimes, such situations arise, even in better times, from a laissez faire approach to the business in the first place, but that is not, obviously, always the case.
Be the Best You Can Be in Business
A business owner may complain that business is not good, sales are down, people are not spending or if they are, they are buying some other persons services or spending in someone else’s store.
Why would that happen? Has the business owner analysed his own marketing strategy. Has he asked, if he is providing the same type of service of supplying similar products, why he is not generating new customers and securing more transactions and return visitors? Has he got a marketing strategy in the first place? If he has not the right marketing strategies, he will continue to throw good money after bad.
In the first instance, marketing need not cost an excessive amount of hard earned cash. It is very possible to generate a good marketing plan, resulting in saving on existing expenditure and producing the extra leads, clients and customers, as many as your business can handle. There are a number of strategies one can implement immediately and can save on advertising and result in increased customers and increased transactions.
Your marketing needs to make your business the obvious choice for the customer. Does how you market it and present it distinguish your business and service and highlight how unique and different it is from your competitors? Does it convey immediate credibility? Does it look and say the same thing as the others in your line of business? Does it say, simply, “We have the lowest prices, …the highest quality,…the largest selection…we are family owned…founded in the year dot. If this is what it says and it works, fine. Good for you. If this strategy is flooding you with customers, multiplying your transactions, increasing your profits substantially, and you are generating more business than you can manage, Great.
If you are loosing customers, failing to get them in in the first place, failing to get business when they do visit and failing the get return customers, then something is wrong. The good news is that this is also very common but it can be fixed and in many cases, fixed immediately and with little, if any expense.
The most expensive and difficult function of any business is acquiring new customers. The reason it is difficult may have nothing to do with you, your business or your marketing.
Increasing the number of times your customers purchase from you represents a profound and simple business-building strategy that can easily double or triple your profits.
The mind-set individuals in your target market is of critical importance to you. Firstly, you need to identify that market and this you can learn. It is an intriguing study but one you can grasp by steadily undertaking a systematic analysis of it and applying it to your business. Having identified it, you need to understand what motivates persons within it to purchase services and products. What are the core drivers of their actions. It is critically important to understand that and imbed it into your marketing strategy.
Step-by-step, carefully implement your road-map to business success. It can and has been done. You can do it also.