After months of marketing and your sales are not where they should be, it is time to revamp your marketing efforts. To avoid the costly mistakes that are slowing your business’ monthly revenue, start changing your marketing strategies today.
Not Learning What Positioning Is In Marketing Your Products
Offer something to your consumers that your competitors do not. You will need to conduct a market analysis in order to find that particular something that your competitors do not have. Internet keyword searches play a large role in your marketing research on your competitors. You will want to use keyword searches on the products and services that you offer as a reference to gain knowledge of what your competitors are offering. For instance, if your competitors are offering around-the-clock customer service that uses voicemail to tend to their calls, offer the personal touch of having an actual person to talk to.
Low-Value Loyalty Programs Discourage Customers From Applying
Do not offer loyalty programs that require a purchase of a certain number of items to get one free. These types of loyalty programs are often less productive for your customer and you than they are beneficial. This type of loyalty program requires the consumer to work harder for their loyalty product than necessary. This type of loyalty program will cause your consumers to lose interest. Focus on a higher quality loyalty program rather than giving quantity items to your consumers. Offer such items that can be tied into your products that are of value to your customer and instantly purchased with their initial order or additional orders. This provides a much stronger incentive for them to make a purchase.
Not Being Ethnically Diverse In Your Business Practices
You may often have more buying power through various ethnic groups, especially if you customize your products or services for their unique needs or wants. Attending multi-cultural events in your area, you can use these events to pass out information about your business and present your products to them as well. When it comes to your Websites and direct mailing pieces, match your graphics to add a personal touch for advertising to ethnic groups. There are many ethnic magazines in which you can advertise your business to further the trend of your marketing to ethnic groups.
Ignoring Strategic Alliances With Other Companies
Pairing up with other businesses that have customers who share the same needs as yours is another way to turn the sales blues around. Creating such strategic alliances with larger companies can become your bread and butter. This type of alliance can be especially the best opportunity for those who have seasonal jobs that can be moved inside during slower months. Such alliances can be helpful for painters, carpenters, and landscaping personnel.
Over-Emphasizing Products, Under-Utilizing Customers
Many marketers fall into this pitfall. Marketers often focus on the details of the products rather than the solutions they can present to their customers. By showing your customers what solutions your products can offer them for their problems, you are showing a truer value for your products. Also include the convenience factors of your products and services, such as faster delivery, extended business hours for your customers’ satisfaction. Provide guarantees for your products.
Not Utilizing Referral Systems
Many people like doing business with people they know and trust. A home business owner’s best marketing tool is their referral system. The following tips can help you get the biggest bang out of your referral system:
Offer new and exciting incentives. Ask each and every customer for new referrals. Be persistent. Set goals for your referral system, think it through for better implementation, and keep it well maintained.
Everyone in your business should be a key player in your referral system. Your employees should be comfortable in telling others about your program, how it works, and how they benefit from participating in the referral program.
Create an easy-to-use system. Add call-out boxes on your website, give extra business cards to your customers for more referrals, and place your referral and business links in blogs and emails that will send them directly to the signup page.
Since you now know what mistakes to avoid making, you can now market your business more effectively without concern.