11 Keys to Marketing Basics

A successful marketing campaign isn’t as complicated as some might believe. It really just takes a little homework, creativity and guts most of all. Try to view marketing as the best way to communicate with your customers. No marketing, no communication. Bad marketing, bad communication! I have seen more money wasted on marketing than in any other part of a business. It is the black hole that many businesses with good intentions fall into daily.

Most small business owners have realized that there is no magic wand to wave when it comes to marketing. Much of it will be trial and error until the right combination of tools for each market can be identified and utilized. As much as I or anyone would like to be able to give you all the answers on what will work for you, it simply doesn’t exist. What I can offer is a few tips to consider when making your decision.

                               11 Keys to Marketing Basics

1. If you are not sure what to do with your marketing dollars stop and ask someone who does.                                        

The money spent speaking with someone familiar with your market and your demographic could save you valuable resources. It is well worth the investment.

2. If there simply isn’t any money to market you won’t be in business long

Marketing is a necessity few businesses can survive without it

3. Excellent marketing falls short in the face of bad operations

Without solid operations to support a strong marketing plan, many of the customers gained will be lost.

4. Never start a marketing campaign that you can’t stop

Remain in control of your promotions at all times. Use phrases like “limited time only” to allow you to pull the marketing at your discretion.

5. Aggressive incentives aren’t always the best road to take

When going aggressive, make sure that there are other products and services that interest the customer. Being less expensive will work till someone else is cheaper.

6. If it’s not new it better look new, sound new, or taste new

No need to remake the wheel, but you might need to shine it up every once and a while.

7. Know what your customers want and market to your demographic

Don’t waste time and money. Focus your efforts on what your customers want and deliver the message where those customers can see it.

8. Give it some time before you move on

Before any marketing campaign can be judged a failure or success there needs to be an appropriate time in which to evaluate the program. Start with a 90 day commitment.

9. Be willing to negotiate

The first time using a marketing vehicle is a great opportunity to negotiate an introductory   rate, so take it. Or maybe the last time you used it the response was unsatisfactory, now is a good time to negotiate a better rate so they can keep your business.

10. The only way to gauge your marketing success is with detailed records

How many responses to your marketing program did your receive daily, weekly, monthly. How many were new customers, existing customers, or return customers. This is just a portion of the information needed to judge your marketing plan.

11. Always know what and where your competition is marketing

Never miss an opportunity to size up the competition and the types of marketing they are using. This will save you lots of foot work. They have already pinpointed what types of marketing reach the customers that you share.  

This entry was posted on 25. March 2009 at 16:57 and is filed under Marketing, Being the Boss, Saving Money, Making Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.

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