Marketing In A Bad Economy

 

In a slower economy most professional scramble to come up with creative new ways to market there product or service, too many in fact.  Good at all ….master at none.  Over the years I have found a few simple techniques helpful in growing a business when times get rough.

 

1)  Know your product or service and be the BEST!

    You know who you are and what you do and so do your existing clients and maybe a few others, but what is it that you do best?  Are you best.  DO you have the Best product, service or is it a combination of both?  Now ask yourself what is it that makes me the best.  In some cases it's just you.  Your personality, your follow through, your ideas or how you perform certain tasks.  It might be your outstanding leadership and your employees really have the talent that drive your business.  What ever the scenario, your business is a direct reflection on you and who you are.  The key to successful marketing is to know why you have the best product or service. Start by writing down the top ten reasons why your product or service is the best.  If you are struggling ask for help.  Talk to one or two of your good clients and ask them.  What do you think our company is best at for you?  Write it down.  Listen.....

2)  CLEARLY define your target market, or a new market,
    (pick one)

    In this ever chaining economy it is important to know and understand your market.  SO many times people and companies diversify so much in order to capture as much of the market share they can possibly get they loose site of what they do BEST and who there target audience is.  Go back to Business 101.  Keep it simple and stupid. 

    Who is your current clients, what do they actually look like?  Are they men women or both.  Do they come to you or do you come to them.  What is there image, professional or homebody?  Why do they come to you now verses your competition?  DO you have personal interaction or is is web based?  All these question are vital when formulating a clear Target Market. Now write it down, all of it as stupid as it might seem it might come in handy. 

    Do you like your customer?  Is this REALLY the person you want to be sell to.  The answerer might be YES it is.  If it isn't try the above exercise writing down who your ideal market might be.  Now take a close look at both lists.  WHAT IS THE BEST TARGET MARKET for your business.  The one that makes the most economic sense as well as the one that you will enjoy the most?  Write down your Target market clearly.  Now study your market.  Is this the same market as your competition or different.  If it is the same what do your competitors offer?  Why do they think they are the best?  Study and learn what's in there head.  Remember in this economy, what people are thinking is not the same as it was a year even two years ago so take the time and find out.  ASK QUESTIONS.

3) Set goals and objectives in witting, hang them where YOU can see them

    Set goals.  I want to increase my business is not one.......To say I want to increase my business by 5% which means $40,000.  Associate some real numbers to your goals.  Remember they must be measurable and achievable.  Write them down under your Target market. 

4)  Simplify your message, I am here to do or sell_________.
5)  Be sincere, honest and from the heart
6)  Always remember to ASK FOR THE SALE!

 

I have found if I help others succeed, success is returned ten fold.  Help people help themselves.  In this economy we must help each other succeed, both personally and professionally.  Give a little of yourself without the expectation of something in return and see success come your way!