Are you looking for a higher revenue stream?

Are you looking for a higher revenue stream?

Answer a few tough questions

Building a business and marketing plan will teach you more about your customers, competition, direct or indirect, your industry and what other small businesses are doing. You are not in school anymore, so it permits copying.

But, in business planning, you need to answer some tough questions. If you are tackling a plan for the very first time, you need to build a planning and marketing advisor’s team. Select first from your employees. After all, they need to speak up, but please, no punishment from past discretions. Some of your best ideas may come from them.

Search for Answers

Meet with non-competing business associates you admire and even your customers. Other people to know may be in your local chamber of commerce, junior colleges, a community business association or in local business schools.

Visit your local bookstore, a university or junior college library, or venture online to find a ton of books, podcasts, and many gurus to check out for help. Keep in mind, your team members may have some ideas in the area. I recommend not to venture here until you visited the pervious suggested people.

1. A situation analysis is a significant start to help you change.

This company analysis involves evaluation of your company’s objectives, strategy, and capabilities. It will enable you to determine the strength of your business model, whether there are areas for improvement. For example, understanding your business capabilities, customer types, business environment, product, pricing, and revenue.

As written above, some people are best at answering a question during a conversation. The situation analysis is a great tool for your company leadership and team members. For example.

  • Precisely define your company and your product or service.
  • If you offer a product, define what it is, how is the product used, how is it put together, and what are the expected results.
  • If you offer a service, tell us what you sell in seven words or fewer, and what a customer receives when they buy it, how the service will perform for the person and who purchases it, and specify the single most important benefit.
  • Then, in order of importance, describe which features will appeal to your marketplace.
  • In order of importance, define the products/services your company offers. (Be as complete as possible.)

2. Let's Take A Look at Your Organization

  • In one sentence, describe what your company does. Do you have a USP(Unique Selling Proposition)? If yes, attach it with your answers to these questions.
  • How long have you been in business?
  • How is the company organized (subsidiary, division, franchise, etc?).
  • Are the current product lines or services meeting their goals and objectives? Please list them in importance of their success.
  • What is your knowledge about products and/or services information from customers is telling you?
  • Describe what you think your target audience knows—and feels—about your company and the products/services, in terms of quality, features, style, brand names, etc.
  • Describe what you think or know what your target audience knows and feels about your competition.
  • What areas of product (or services) and brand strategy need improvement?
  • Have you developed research profiles of each customer segment?
  • How is your company presently positioned in your industry? What is your company known for?

In today’s business environment you need to learn as much as possible about customers, transactions, and who is the next customer to serve. It is not as easy as looking at customers and the products they purchase and to make a mental note of the differences.

A company needs a business model to focus on what customers want and even how they think, recording answers in a database. Do not fall into the trap of building a major campaign on logic or a gut-feeling–it is a formula for disaster.

Join Us and Get A FREE Hour

If you want to get a feel for questions asked and answered, sign up for free today for our Direct2Customers Marketing Community. Plus, I will spend one hour free helping you with the questioning for the Situation Analysis, No. 1. Click on the button below and add” Situation” in the company tab.

   Please share with others – except your competition!

   Sharing time with you is genuinely appreciated. Please join our Direct2Customers Marketing Community today!

  Learning and doing, marketing, and selling ideas, is what you’ll find at your Direct2Customer Community. 

  It’s what I do. It’s what I love to do. 

  Thanks again for reading. Questions?  Mdoc@direct2customers.com or 800-251-3608 

         

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How to Survive and Succeed in A New Small Business…

How to Survive and Succeed in A New Small Business…

...or To Correctly Reorganize One

Making either decision is difficult. Nobody wants to fail. If you decide not to give up the ghost, and give it a shot, keep it simple. Look closely at your company’s operations and strategies. Determine what you need to improve.

What do you know about your customers and prospects? Customers are hard to get or to keep. Marketing and sales must perform and to meet their goals.

There are a variety of practical steps to take with marketing and advertising your company’s products and services to your prospects and customers.

First, let me talk about what a company needs.

(Top of right column) ->

What your company needs.

You need a business marketing strategy on how you plan to sell your products and services to prospects. When you sell and get a few customers, you will need a strategic marketing plan in place to boost your customer totals and revenue.
For a small business, I highly recommend a direct marketing strategy. Direct marketing means just that–sending a message directly to a prospect or customer who more than likely will make a purchase.

Next, you will need a list of contacts that have a propensity to buy and tell them why your product is the right choice for them. You will need a copywriter that knows persuadable copywriting.

Last you need creative marketing and advertising offers that your products were made for them. Direct marketing goals include a prospect to buy directly from a campaign, lead generation activities, and/or supporting your field selling activity.

The Heart of Business Success- 

Prospects and customers. 

As the sales trickle in, a customer-centric marketing strategy outline should be on your whiteboard, or at the minimum, in your head. If the customer-centric marketing strategy eludes you, here’s a smart start. 

For a new, or to reorganize a small business, a customer- centric marketing strategy means you have a goal to fulfill all the needs and wants each customer expects, with a passion to succeed, provide an extra step of service, and do it all with a smile. 

Stop and think for a bit about the block quote above. Then place a customer in your shoes. How would you react?

How do you decide to purchase a product or service comparable in pricing and some resemblance of similarity? Was it price sensitive? Did it come in assorted colors? How was the service? After your purchase, what did you think about the customer service?  

Another way to look at customer-centric marketing is-everything marketing starts and ends with your customer… cater to them, listen to them, and react to them. The results are amazing.  

When you email  a purchaser, ask them what they  think about your service or product. Their  answers will probably show you are already doing customer-centric marketing. The best marketing strategy that pinpoints the many reasons to keep and gain new customers.  

Summary 

However, many people, who work in a small business management capacity, who read the preceding sentence will comment, “I know my customers and know what they want. I need more customers because I want to grow.” 

 Do they? Do you? 

Your time is better suited to listen to, talk to, and better understand your customers. This can increase your marketing results, customer acquisition and customer retention. 

Here are 17 short sentences that can help you learn more about customers. Plus, there is no rule saying you will not be able to use it with prospects. 

 

1. Keep it simple. 

2. Use automation such as a CRM.  

3. Learn and use analytics every single day. 

 

4. Halloween is every day. Customers get treats and offers to build on their relationships. 

 

5. Customer-centric marketing strategies remind us to learn more about customers.  

6. Prospects are potential customers which require  stronger messages of attention. 

 

7. Develop customer profiles pays you repeatedly.

 

8. Think of direct and customer-centric promotional  strategies as a well-oiled machine. 

 

9. Your response rate will hit double digits. 

10. Have you heard the phrase “Direct-to-Customers Marketing?”  Remember you heard it here first. 

 

11. Do you follow a customer’s journey? Make sure it’s  connected to your data and analytics. 

 

12. Thinking creatively can help you get more customer information. 

 

13. Direct-2-customers  marketing  can increase the likelihood of a two-way communication with each customer. 

 

14. Increasing customer conversations (your customer service) can increase data collecting  for additional personalization. 

 

15. Better customer data leads to future relevant communication. 

 

16. Customer acquisition is easier when you “buy in to a long tail.” 

 

17. Create a great opening line for networking and your direct marketing toolset to increase customer connections. 

 

   Please share with others – except your competition!

   Sharing time with you is genuinely appreciated. Please join our Direct2Customers Marketing Community today!

  Learning and doing, marketing, and selling ideas, is what you’ll find at your Direct2Customer Community. 

  It’s what I do. It’s what I love to do. 

  Thanks again for reading. Questions?  Mdoc@direct2customers.com or 800-251-3608