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What You Must Know When Marketing Your Business

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Marketing is both an art and a science. Anyone who says differently probably isn’t doing very well marketing his or her business. On the art side, intuition definitely plays into the equation. On the science side, it is about systems, strategies and plans. Outlined below are some areas of consideration when you decide to market your business.

Determine where your business is currently

Determine where you want to be

Know who your market is and/or needs to be

Identify what is important to your clients

Identify and evaluate threats and opportunities. For example, lack of experience in the marketplace, budget, competition, no clear direction.

Assess existing and potential appeal of your product or service to current and future clients or customers

Select growth strategies and a competitive strategy

Develop a plan of action

Commit to focused action for results

Having fun

Identify and evaluate strengths an weaknesses in the areas that determine success to achieve this outcome. If you are unable to do this, get outside assistance.

Determine a budget

CREATING DIRECTION WHERE DO YOU WANT TO BE?

Where do you want to be as an organization?

What kind of image do you want to project?

What are the benefits of doing business with you?

COMPETITIVE ANALYSIS

Purpose and function of your product or service

What makes your business unique from other similar businesses?

What does your business have in common with other organizations?

Biggest threat to success of organization?

What you must know about the current market?

Why do people buy from you?

Why don’t they buy from you?

Assumptions by current staff about the market?

What can you predict about the future? What to do about it?

How attractive is your product or service to the consumer?

HOW DO YOU GET THERE?

Target market

Staff involvement

Most effective strategies for marketing and selling your services/product

What is your plan of action?

Are you committed to your success?

WHEN YOU MAY NEED TO CONSIDER HIRING A BUSINESS COACH

When it is difficult to stay committed consider hiring a business coach.

When you just don’t know what to do

When you get sidetracked on your goals

When you want more success

WHY PEOPLE DO BUSINESS WITH YOU

Increase income or revenue

Increase quality of their personal or professional life – or both

Increase productivity

Decrease costs

KEEP ASKING

Who is my market?

What am I selling?

Can our company service what I sell?

How do I keep ahead of the competition?

How do I get my customers to remember me?

Why would they buy from me?

How do we keep visible?

WAYS TO INCREASE BUSINESS

Time in the business

Referrals

Up sell

Visibility

Check beliefs – do you believe you deserve to succeed?

Sponsorships or strategic partnering

Web site

Online newsletter

Free seminars

Promotional activities

Write articles for publications your target market reads

Presentations at association meetings

Press releases

Track where your business comes from if you are diversified in your marketing and advertising efforts

Get everyone into the sales and marketing attitude

Have employees give you ideas

Under promise, over deliver

Give back to the community

Become an expert the media calls on

Treat the gatekeepers like gold

Know what makes you stand apart from the competition

Get to know the competition

Build relationships

Ask for the sale when appropriate

Sell them only what they need

Keep a great attitude

Kathleen Gage is an award winning entrepreneur, corporate trainer and keynote speaker and author. She is the co-author of, 101 Ways to Get Your Foot In the Door; Success Strategies to Put You Miles Ahead of the Competition. To get more tips on how to get your foot in the door of your prospects and clients visit www.101waystogetyourfootinthedoor.com

What You Must Know When Marketing Your Business
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