PROFIT from MARKETING "Whatever the size or shape of your business,Marketing2win will put you ahead of your competition."
A Degree of Marketing
What is Marketing?Marketing is defined by the Chartered Institute of Marketing as:“The management process responsible for identifying, anticipating and satisfyingcustomer requirements profitably.”What is the purpose Marketing?The single purpose of Marketing is to attract paying clients to your business.
ProductThe Marketing mix. Physical Pricing Processes Place People Promotion
ProductIs there a need for your product or service in the marketplace?What does your product or service have to offer that is of value to yourcustomer?Can you differentiate your product or service from your competitors?Consider exactly what it is you are selling. A gardener is not only sellinghis/her horticultural skills or knowledge. The gardener is also sellingthe customer their own time to do something else.Don’t think about how to sell your product or service, consider howthe customer wants to buy. Put yourself in the position of yourcustomer.
Top Tips1. Your product or service might be right for today, is it right for tomorrow? Be prepared to adapt.2. Establish and understand what your customer wants to buy.3. Tailor your benefits to match your customers needs.4. Sell the difference.5. Customers buy benefits and you, not the product.6. Think like your customer.
PricingHow will you price your products and services?1. To match / undercut your competitors?2. Premium price for a value added product or service?3. Variable price to meet sector expectations?4. Mark-up or value positioning?5. Avoid differentiating on price.
Top Tips1. Differentiate your products or service to command a higher price.2. Don’t discount, offer added value.3. Justify the benefits not the price.4. You can be too cheap.5. If your prospect wants the best deal at the lowest price; they are probably the wrong customer.6. There is always someone cheaper than you.
PlaceWhat are your distribution channels?Who are your customers?Where do they congregate in large numbers?Everybody might be a suspect but not everybody is a prospect.Segment your customers and prospects.What are your competitors offering?
Top Tips1. Keep a record of your prospects and customers - database2. Keep in touch with them.3. Research your competitors – knowledge is power.
PromotionBefore you can determine how and where to promote your product orservice, you will want to address the following questions.1. To whom are you advertising your products or service?2. Where does your target audience congregate in large numbers?3. What do they really want to buy?4. What is the emotional trigger that will make your targets want buy?5. How can I best communicate my offer?6. There is a difference between awareness and lead generation.7. Measure your Return on Investment (ROI) Record it - Measure it - Monitor it - Adapt it.
Top Tips1. Don’t be tempted by last minute special deals.2. If the magazine / paper is not targeting your prospects, ignore it.3. Design your advert to appeal to your target audience.4. Maintain your brand.5. Focus on the message.6. Record ,monitor and analyse the response.7. Canvas past clients – what influenced them? Record it - Measure it - Monitor it - Adapt it.
PeopleThis section address the question of how you and your team areperceived by your prospects and customers. We all wear uniforms.We expect undertakers to look sombre and dressed in black unlessthey conduct ‘Alternative’ funerals.Farmers wear wellingtons.Mechanics wear overalls.Do your team members promote your values and ethos?Does your team promote the same value proposition?
Top Tips1. Create a company manual – half a dozen pages might be enough.2. Consider branded work wear.3. Training improves performance.4. Encourage your employees to play as a team.5. Keep them in the loop.
ProcessHow do you manage your paperwork?What is the procedure for taking enquiries?What happens when you are not available?Where is the manual kept?Who buys the biscuits on Friday?
Top Tips1. Have a simple procedure for the common activities in the business.2. Record them.3. Ensure that everybody knows what they are.4. Update them to reflect changing priorities.
PhysicalBuildings, decor, furnishings, vehicles, paperwork, work attire,signage.Prospects and customers pick up messages from the physicalattributes of your business.The key to success is to match how they perceive you and yourbusiness with their expectations.
Top Tips Prospects look for reasons not to buy. Making a decision to buy a high ticket item is a daunting prospect. You can give them all the reasons why they need to buy but if they are unsure they will look for reasons to delay making a commitment.In the main we buy emotionally and justify logically.
And finally 1. What are your expectations for yourself and your business? 2. What are your barriers to success? 3. What are your enablers to overcome the barriers? 4. What is your definition of success? 5. What is your plan to manage success? 6. Don’t think “I know, but...Say “I know, how can I make that work for me.”Plan it – Record it – Measure it – Monitor it – Deliver it – Enjoy it.
The customer’s perception is not always the truth but it is their reality. James WilliamsMobile: 07837 568411 | firstname.lastname@example.org | www.marketing2win.co.uk | Skype: jim.williams37 | Twitter: marketing2win
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