When it comes to advertising and creating interest in your business, you’ll have to change your attitude about the way this is usually done. Start by looking at some larger advertising campaigns. What do they do? What do they attempt to achieve? Are they successful? When you look at successful advertising and marketing, you will notice that these campaigns directly address the customer and their life. Good marketing strategies will consider what the customer should think or feel after seeing the advertisement. Are you trying to make the customer feel that your product can enhance or support their life in some way? Are you trying to alert the customer of a problem that could be solved? You can start this process by asking your customers what they think of your product after seeing an advertisement. This will show you if your goals and the actual outcome match in a way that is satisfactory. If they do match, then you have found a good marketing scheme, if they do not, it’s time to see where you can improve. You’re also looking for how a customer’s attitude changes after seeing the advertisement. You can do this by asking your customers about your brand or product before they see the ad, and then asking them what they feel after the ad as well. The difference in these two feelings should be different. You are trying to change their minds or continue the same mindset that they were feeling before (if it was good). You also want to consider if you’re trying to change a customer’s reaction or their action. We’ve already discussed changing their reaction. If you want the customer to go out and buy the product, is your advertising directing them to do so? Are you being clear in what you want the customer to do now that they’ve seen the advertisement? You may find that you are directing them to thinking about products like yours, rather than considering buying. Knowing your target audience is paramount in having success, but it’s also important in maintaining your success through hard times. There’s no need for your business to wax and wane when you’ve got a solid marketing plan in place. Create a model customer in your head when beginning a marketing strategy. What are their needs and their values—how can you address them? Think of the customer and they’ll think of you. BEING SPECIFIC We’ve talked about determining your target audience, so let’s broaden the perspective to the target market. Looking at your sales and your cost ratios, how are you doing with your current marketing plan? If sales are down or they’re beginning to slow, it’s time to jump in with a new strategy. This is where you will ask yourself what might be going wrong. Perhaps your marketing is just fine, but the market itself has become too saturated with your kind of product or business. An example of a saturated market is the coffee shop trend. There are hundreds of coffee shops, so each one has to create some quirk in order to survive. In today’s market, it may not be a wise decision to attempt to open your own—unless the community is lacking. This has two routes that can help to change your downward trend. One, you can go and find another business idea that might work better for you. Perhaps you didn’t put enough research into your chosen field and you just need to try another idea that you had. It’s better to do this than to struggle without hope of profit. Of course, you may want to just adjust the business that you do have in order to see better results. This can mean changing your pricing to be more competitive, or offering incentives to buy your product. By creating something exciting and different about your business, then you’ll draw in customers who are looking for those qualities (and those prices). You may also want to create a place for yourself in the overall market or find a little tweak that can give you a market all to yourself. This is sometimes called a ‘niche’ market. And while some business owners dismiss the idea of targeting your marketing to a small group of people rather than the mass population, you will find that this is a more cost effective option. Not only are you ‘preaching to the choir’ and getting sales, but you’re also getting a return on that advertising time and time again. Create a place for yourself in a particular population and they will do your advertising for you. They will select people that would be interested in your business and tell them about what you can offer. This word of mouth advertising is free for you and much more likely in a niche market situation. Go to your local phone book and see how many other businesses are out there that offer the services or products that you do. How can you be different and rise to top of everyone’s list?
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