2 Critical Marketing Strategies
2 Critical Marketing Strategies
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Home Page > Business > Strategic Planning > 2 Critical Marketing Strategies
2 Critical Marketing Strategies
Posted: Nov 16, 2011 |Comments: 0
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A marketing strategy that small business owners have always been encouraged to understand is to sell what the customer ‘wants’ rather than what the customer ‘needs’.
Customers are still tending to make more economical choices as they have done in the past few years and they are also tending to consider quality more and buy items that will last, rather than purchase the look or color that they may prefer to buy. They have to make sure that the items they buy will last the distance and usually this means that they need to be more practical than fashionable. Your marketing strategy needs to take these points into consideration.
There has always been the distinction between what your customers want and what they need. In other words, your customer may need a low fat cooking book, but want to buy all the latest chocolate recipes.
Even though your customers may still have the same income, the same day to day expenses, we have all become more cautious and aware of the fact that our financial situation is not necessarily as secure as we thought. Because of this people are spending less, saving more, and buying better.
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SOLUTIONS
Your Purchasing
Have a look at your products and at the products you will be purchasing in the near future. Make sure they fit the criteria we have outlined: quality, durability, perhaps not so fashionable and the best price for the product.
Before purchasing, check what your competitors are offering and at what price they are selling their items. Before you place your orders with sales reps, find out what they are going to be offering you and at what price. Make sure you know what your competitors’ prices are before you start placing orders with the sales reps.
As a small business owner you have the upper hand, more than you ever have had before. Suppliers need your trade, so do the trading on your terms.
Running and Offering Specials
Firstly, when quitting old stock – in this case do not advertise it, because if you have it still sitting on your shelf you may have limited customers for it, and therefore any advertising you do will not be the answer to your wider range of customers and be a waste of money. Just do in store promotions to get rid of it, or get rid of it as an ‘add-on’ in an advertised promotion.
Secondly, with your marketed campaigns – only sell stock that you have been able to purchase at a reduced price. Small business operators cannot afford, in today’s business climate, to be selling good stock at reduced profit. In other words selling full priced stock at a reduced rate. Query your customers, find out what their most purchased items are, find a supplier who will talk reduced terms and deliver on your terms (maybe extended payment so you can set up your marketing campaign with the knowledge you have stock on hand to sell), then plan your marketing strategy. Work your buying and your selling prices to still reflect a healthy profit. If you plan your marketed campaigns months in advance you can usually get your ‘sale stock’ at good prices.
Take the time to have a good look at your small business marketing, your marketing strategies and change them if needs be. Use these difficult trading times to your advantage. Plan your marketing strategies before you start spending your hard earned dollars and sell what your customers want and need!
Marketing is an integral part of business success so for more marketing ideas have a chat to Paul Wilson on 1300 907 507
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Paul Wilson -
About the Author:
Life is about enjoying every moment to the fullest, I am an eternal optimist, and enjoy spending time with people who have a passion for others and a passion for squeezing the best out of others and also themselves. We aren’t here for a long time so lets have a good time and if you’re not getting the best out of your life then start to do something about it today, live well now!
I have been in business for over 18 years. My business experience has included managing a large charity in Sydney, developing and selling my own export business and in 2001 I founded www.wefindhouses.com.au which has now grown to include www.educatingpropertyinvestors.com and www.wefindfinance.com.
As a professional and independent expert on real estate investing I have assisted hundreds of investors to achieve their goals and dreams using successful business and property investing principles.
I use my vast business experience and developed business tools to coach business owners who are seeking better outcomes and direction for their business so their business is a cash-flow vehicle which ultimately feeds their wealth creation vehicle using property as one of their methods of wealth creation.
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how to market a sale, marketing a sale, marketing sales, quitting dead stock, selling stock at sale, 2 critical marketing strategies
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Life is about enjoying every moment to the fullest, I am an eternal optimist, and enjoy spending time with people who have a passion for others and a passion for squeezing the best out of others and also themselves. We aren’t here for a long time so lets have a good time and if you’re not getting the best out of your life then start to do something about it today, live well now! I have been in business for over 18 years. My business experience has included managing a large charity in Sydney, developing and selling my own export business and in 2001 I founded www.wefindhouses.com.au which has now grown to include www.educatingpropertyinvestors.com and www.wefindfinance.com. As a professional and independent expert on real estate investing I have assisted hundreds of investors to achieve their goals and dreams using successful business and property investing principles.I use my vast business experience and developed business tools to coach business owners who are seeking better outcomes and direction for their business so their business is a cash-flow vehicle which ultimately feeds their wealth creation vehicle using property as one of their methods of wealth creation.
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