08/ 15/ 2007
by Vicki Gerson
Marketing principles have been tested for decades, yet, many small- and mid-size-business owners refuse to make a commitment to marketing. Usually, there are eight reasons why marketing fails. Here are the solutions for these failures so you can successfully market and get the correct message to your targeted customers.
Have the right budget
In order to be successful at marketing, you need to attach a budget to the goals. Marketing does cost money. If you plan to introduce a new product or service to your customers, it comes with a price tag. It's impossible to be successful if you have lofty goals and a low budget. Therefore, carefully decide what you can spend on marketing and how you will distribute those dollars to get "the most bang for your buck."
Use the right techniques
It's important to select the right tactic or technique to market. For example, if you own a small gift shop in the suburbs and know your customers come from the surrounding suburbs, you're wasting your marketing dollars on billboard advertising or radio announcements.
The correct way to spend those marketing dollars might be to advertise in the local community newspapers and use a repetitive direct-mail campaign targeting the community. Always spend your money in the area where your targeted customers are.
Send the right message
Be sure you send the right message to your customers. The message you are sending is not to boost the morale of your staff or for your salespeople. You want to send a message of what you can do for your customers. For example, a community bank may attract customers with a personal message about providing old-fashioned service at a time when large banks aren't personal and their staff keeps changing so much that no one know the business or personal needs of their customers.
Do the right research
Even though you have the opportunity to introduce a new product at your store, it pays to do the research. Find out how this product is selling in other locations. Is this the type of product your customers will purchase? If the product is upscale, but your customers spend only moderately, this may not be the right product for you.
Understand what your customer wants
If you understand your customer, the product or service can be successful. For instance, you own a carpet-cleaning business and know many customers complain about hiring rug cleaning companies that just send a crew and never clean right or get out all the spots.
You decide to keep your business small and personally be present at every job. This way you check to see that the carpet is clean and the customer is satisfied. Customers like business owners who take a personal interest in the job.
Always be consistent
Anyone in business can tell you it takes time to impact a customer. Success is only accomplished with a consistent program. Losers give up after one or two tries and claim the program doesn't work. Winners realize that success can't be measured in just three or six months. One mailing or a little telemarketing won't do the trick. Consistency is the key.
Grab the customer's attention
Think of the successful marketing slogans or phrases you've heard. Some of them have lasted for decades. Too many small-business owners come up with a slogan or phrase that they drop too quickly. However, before you select a few words you are determined to stick with, test market it on family, friends, other business owners you know and a few of your favorite customers. Once you have a phrase or slogan use it everywhere.
Be sure to recognize results
Effective marketing will have an impact. However, it may take time to see the results. The important factor is to recognize the results. If you are writing a quarterly newsletter, make sure you indicate in at least one or two articles how your service or product can solve potential customers' problems.
When a new customer calls, be sure to find out what motivated that customer to call. It is important to know why that customer "jumped" and made the call or set up the appointment. Be sure to recognize what you did that was the motivating factor.
