by Ann Goodwin
Successful marketing is about meeting the needs of customers – profitably. People say to me marketing is the same as sales – but in my opinion they are wrong, selling an item is one thing, but did the customer really need the item and will the customer come back for more? The value of a happy customer can be experienced for many years after the initial sale.
Other people say to me marketing is advertising – but again I disagree. Advertising is one form of marketing, which fits together with the many promotional opportunities open to a company.
Marketing is all about identifying what your customers need, and supplying it when they want it, where they want it, at a price they are prepared to pay, with a value that is perceived as better than the competition.
Quite simply ask them. Large companies invest millions in market research, trying to understand as much as they can about the market they operate in. Because it may not appear to be essential in the day to day operations of running a small business it is rarely achieved. However, conducting research can not only be financially advantageous it can be interesting and intriguing. It can provide you with valuable intelligence vital in making a decision.
The sort of areas a company should have an understanding of with regard to their market place include:
Do you know what your customers really want and why they want it? Do you develop your products, services and promotional material to meet these requirements?
Many people think marketing is costly, but it should be seen as an investment. Good marketing should test ideas and keep the investment to a minimum until you can assess the results.
Understand what customers want
Understand why the customers want it
Understand how, when and where they want it
Ask them – don't be afraid, don't assume you know it!
Develop a promotional strategy to let them know – this does not have to be expensive it could be merely direct mail letters, telephone calls, or appointments.
Be consistent - Ensure your promotional tactics are consistent – advertising, website and electronic marketing.
Ensure you deliver what you say you will.
Maintain the relationships to understand what else the customer might want.