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  Strategic Marketing in the New Economy

    Do you think it’s harder to make a buck in the business today compared to when you first started? Your answer to that question can be telling. Sure, we have all met obstacles in the road to growing our businesses in this time of change. But if you’re not satisfied with your situation, what are you doing about it? Human beings have a knack for justifying and rationalizing. In a real sense, we either have results or reasons. If your best marketing efforts lately have been asking a friend in the industry if he’s slow too, it’s time to do some work. Marketing is fundamental for growing a business and pro’s work on the fundamentals.

    Maybe you can relate to the business owner who knows he needs to do something, but is not sure what. Or he isn’t exactly sure what is working and what is not. Or she’d love to do more marketing but just doesn’t have the time or expertise. Or he thinks it’s just too expensive and could use that money for other things. Maybe she needs some new ideas. All these issues can be addressed with a plan, some analysis, useful resources and a long term view.

    Do you see any marketing danger signals that indicate action is needed for your business? You know you need to improve your marketing plan if…

    • you have tried all kinds of advertising tactics and they don’t seem to work
    • you are already discounting your prices and the customer says “Wow, that’s expensive.”
    • you know how many new customers you had last month, but you don’t know how many you lost
    • your people frequently hear customers say, “Gee, I didn’t know you did that.”
    • your customers or employees can’t say how you’re different from the competition
    • you have heard yourself say, “If their money is green anyone can be our customer.”
    • you don’t really use a feedback mechanism to quantify input from your customers
    • you just say “no” to tracking customer referral sources and really aren’t using your database effectively
    • your marketing strategies and tactics aren’t prioritized, scheduled or measured
    • you are thinking “Marketing plan? What do we need marketing plan for? We just rely on word of mouth.”

    These are are like "check engine" lights that indicate something must be done before things get worse.

    What is marketing? Marketing is the art of finding, developing and profiting from customer opportunities. It’s the process of observing, listening to and communicating with your target market. It takes awareness, discipline, persistence, commitment, flexibility, experimentation and risk. Successful marketers learn to understand the customer’s point of view. What does the customer want and need? What will it cost the customer? How convenient is it to do business with you and which communication channels do your customers prefer to use? Marketing is strategic and tactical.

    All too often I see small business owners wasting money on marketing tactics. They don’t see the difference between developing an effective marketing plan and buying advertising. A simple marketing plan I’ve developed has five steps starting with “Who are we?” But the inexperienced marketer jumps to step four and starts spending money on tactics. Invariably, they get poor results and then conclude that advertising doesn’t work. It’s like a job seeker who hasn’t taken an inventory of his strengths and hasn’t really taken the time to focus his sites on any particular position. He pulls together a laundry list of jobs he’s held but puts no objective at the top of his resume. Non-verbally, he’s saying “I’d take anything.” Then, instead of targeting an industry or a title he shotguns a hundred resumes helter skelter to anyone with an address. He doesn’t set any goals and guess what he gets: Anything.

    In the "Seven Step Marketing Plan Work Book" leaders get a framework for developing a prioritized and scheduled marketing action plan for today’s economy. Participants walk away with strategies to increase sales within a budget and methods to attract the very best customers. You learn how to articulate your unique selling proposition, set goals, select tactics that create sales excitement, avoid mistakes with direct mail and newspaper advertising, track ad response rates, calculate customer acquisition costs and more.

    Call Paul Gregory Esch at 651-501-7979 today or, go to: http://www.breakthroughbusiness.net/product_details.php?id=9

     

    ©2004-2007. Paul Esch. All Rights Reserved. Paul Esch is President of Breakthrough Business Success, Inc. He works with honest business owners and executives to improve sales, marketing and management systems.