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Marketing Tips For Business Growth
Regardless of what textbooks will tell you, when it comes down to it, marketing is about influencing others to buy your products and services. In short, the essence of marketing is to persuade prospects to exchange their monies for your services or products because they need them to address a want or a need in their lives. Therefore, it is important you know the critical factors your market will take into consideration when determining whether to buy your products or services or not. Fundamentally, your target market will be looking at the opportunity to get the best value for their money. For that reason they will shop around the market to find the best deals before deciding who to make their purchase from. The higher the price tag or the financial and health implications of the products and services that they want to buy, the more shopping around that will do. This means, to serve your customers effectively there are a number of factors you need to consider:
• The quality and quantity of services and products you offer them. It is important you understand that the products are a means to an end. The end is the benefits you offer the market through your products. Remember when someone buys a chair, it is not the chair they want but rather the comfort to seat and enjoy their meal or watch television or rest for the day. In some cases it might be the feelings of wealth they experience as a result of the chair. Therefore, the degree to which your chair offers comfort, relaxation and a wealthy feeling around the house or office, will determine how fast you can influence the market to buy the chair. The more variety you offer the market, the greater the chances of closing the deal.
• The price of your products and services. When it comes down to it, people see money as very much part of their lives. It represent the value of services they have rendered their market and so will not part with it for something that is over -priced and unreliable or something that is cheap and not durable- except where they have no other choice. The price of your product is not just the tag on the product or service. It also includes the cost of using the product or service from the market perspective. If you sell a table £10 that is not assembled, on the face of it might look like the table is cheaper than another table costing £35 that is already assembled. However, if it will take 7hours to assemble the cheaper table, then by all calculations the cost of the cheaper table is higher than the other in so far as the market is concerned. This means you must see your products and services beyond your immediate price tag.
• The quality of the people involved in the business is important. The quality of the people spans the staff you employ and includes the supply chain because ultimately they impact the end product s you offer your market. It is therefore important you carefully put in place rigorous systems for selecting staff, associates, suppliers and partners of your business.
• The quality of the place where your business operates from and its accessibility can also influence your target market. In the current times, many people are working from home and can therefore not invite clients for meetings to their home office. However, making use of virtual offices with meeting rooms you can hire as and when required can easily overcome what could have been seen as a limitation. In addition, having a web presence is a most and providing telephone number, email addresses and fax details for your market to reach you can all help to boost the success rate in converting your market into real customers.
• The quality of your promotion can help or hurt your business. It is important when promoting your business you focus on the benefits your products offer. This means, demonstrating thorough understanding of your target market’s problem and then show clearly how your products and services can offer the solution they are looking for. Other factor to take into account is the importance of building trust with your market. Providing testimonials can be a powerful strategy to breakdown any barrier of lack of trust. You can also provide risk free trial periods for testing your products and services thereby removing all barriers to try your products and services.
• The policies and processes you employ in your business will either turn the market off or pull them towards your business. Businesses that lack important policies around terms of trade or has unclear terms of trade are deemed high risk to transact with. Lack of information about the address of your business or use of payment collection systems that exposes the buyer to significant risk will turn the potential buyer off.
With this in mind, it is important you take all the above into consideration when attempting to sell your products and services to the market. Not to do so will cause your business to experience delay in success until all these factors are addressed.
For more information on marketing you can read My Business Is My Business by visiting www.bssbooks.co.uk or www.bssbooks.com
The author is an expert in business and personal development strategies.
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