Understanding Marketing To Grow Your Business

What is marketing?

Marketing is everything you do to promote your business. It is much more than advertising or selling. It is not a series of tricks to persuade people to do something they do not want to.

Small businesses in particular think marketing is an expensive and unnecessary activity especially when they are doing well.  Nothing is further from the truth. Marketing is an investment for the growth and survival of a business. Marketing is about solving problems for customers and building relationships.  Creating a great new product or service only the beginning. Youhave to tell the world and that you are willing to sell it.

Marketing is a series of steps that:

• Identify and meet a customer need or want.
• Identify who the customers are.
• Tell customers you have the product and are ready to sell.
• Sell at prices that make a profit.
• Uses feedback to check that you are satisfying the needs of the customer.

Getting underway

Make a start by answering the question “Why will customers buy from me? If you can think like the customer you are targeting then you will be making a great start. Look at every aspect of your business, from your premises to your marketing materials and messages and ask yourself “what would I think about this if I was the customer?” Make a list of 10 great reasons why customers should buy from you.

Customers are buying the results of your products and services. It is vital that you can explain the results in ways that they will understand. In marketing these are the benefits of your product. Usually benefits will appeal to an emotion and will improve the situation the customer is in.

Know your enemy, study the competition and decide what you can do better or improve. Set out to identify your competitive advantages, the things that make you different.

You cannot have all the customers so you must focus on the customers you want and aim your marketing precisely at them. Talk to them in language they will understand and relate to. Be clear which customers you want and the ones you do not and ensure everyone in the business knows.

No time? Don’t let it stop you. I can help develop implement and sustain your marketing activities. You benefit from a dedicated specialist at far less than the cost of employing one full-time. For an informal discussion of your requirements call Gareth on 01226 290288 or email gareth@gapmanagement.co.uk

The Seven Ps of marketing

These seven P’s, also known as the marketing mix. The right mix and balance of these ensure that your offer is attractive. A different mix can be used to attract differentcustomers. They enable you:

• To identify customer requirements and to ensure they are met.
• Set a price that generates a profit. Remember price is not the same as value.
• Consider how customers will buy.
• Decide on your message. What are your points of difference?
• Decide how, where and when you will communicate your messages.

Product There is no point in developing a product or service that no one wants to buy. 

Price A product is only worth what customers are prepared to pay for it.  The price also needs to be competitive. 

Place The place where customers buy your product and the means of distributing your product to that place must be appropriate and convenient for the customer. 

Promotion is the way a company communicates what it does and what it can offer to its customers.  It includes activities such as branding, advertising, PR, corporate identity, sales management, special offers and exhibitions.  It must gain attention, it must be appealing, it must tell a consistent message, and it must give the customer a reason to choose your product rather than someone else’s.

People Anyone who comes into contact with your customers will make an impression, and they can have a profound effect – positive or negative – on customer satisfaction. 

Process The process of giving a service and the behaviour of those who deliver it is crucial to customer satisfaction.

Physical Evidence A service can’t be experienced before it is delivered. Case studies and testimonials can provide evidence that an organisation keeps its promises.  Facilities such as a clean, tidy and well - decorated reception area can also help to reassure.  If your premises aren’t up to scratch, why would the customer think your service is?

Your Marketing tool kit

Everything about your business and everything you do or say gives customers a message about the business. You must choose the tools that are appropriate for the customers you are targeting. Ideally you want to develop a multi - step approach where customers have a range of different contacts. Many businesses restrict their marketing to one or two activities and miss out on the opportunities offered by other items.

Branding is where you create and develop your reputation and the impression you want to give to your customers. It includes your business name and logo, the choice of colours, your business stationery and literature as well as premises, vehicles and the type of staff you will employ.

What your firm really does will be communicated via your web site, brochures and sales literature. Ensure that you clearly describe the benefits and results of your offering.

Communicating with existing or potential customers is direct marketing. This covers direct mail, email, telemarketing and face–to–face selling. You can accurately target customers so this can be a highly cost-effective method of marketing. Use a hook to gain attention and tell prospects and customers what you will do for them and what they should do next.

For most small businesses advertising should be used to promote an offer to persuade people to buy from you. It can be anything from a postcard in the local newsagents to radio and TV advertising. It is important that you advertise in the places your customers are likely to see it.

Many businesses miss out on PR thinking it is difficult to get stories in the local press and trade magazines. The key is to ask yourself  “ what is in it for the journalist? Remember that because PR is free you need the story to be interesting and informative for the journalist to use it. It is not an advertisement. Make sure your story covers, Who? What? Where? When? Why? How?

It is important to know which parts of your marketing are working so set up systems to monitor and measure the results. Simple questions like “how did you hear about us?

What to say and getting your message across

When writing any marketing literature, always have a picture of your reader in mind. Write in the language they will understand and avoid jargon.

Every piece of material needs a headline to attract attention, body copy that creates the interest to make the customer want to buy and a call to action that tells what to do next.

Try to use “ you” twice a soften as “I” or “we” in your copy and answer the “what is in it for me question?” Do not provide too much information and spell out the benefits. Make sure you include all the ways you can be contacted.

Your Marketing Plan

This is your written plan that sets out what you want to achieve. Your plan must be realistic, achievable and practical. It should cover a reasonable time frame based on your market place. Typically it should cover:

• The purpose of your marketing. What your business goals are.
• How you will achieve these.
• What products and services you offer.
• Who are your target customers?
• Who are your competition, and what will you be doing that is different?
• The niche you will operate in.
• How you wish to be viewed by customers.
• The marketing tools you will use.
• A time scale, resources and budget for activity.
• The results you expect.
• How you will measure and monitor activity.

For expert help and guidance in developing your marketing plan contact Gareth Morgan on 01226 290288 email gareth@gapmanagement.co.uk

The Eight Ms a summary.

Message: What are your benefits? What impression do you want customers to have of your business?

Media: Where, when and how will you put your message across?

Money: How much will you allocate?

Momentum: How will you build momentum?  Rarely does one mail shot or advert generate the response you want. What other activities can you undertake? It may take 7 contacts to convert a prospect into a customer.

Multi-step: How can you combine activities to increase effectiveness?

Measure: You need to know the results of your activity

Monitor: What works, what customers are responding to? Ask customers how did they hear of you. Ask what they think of your offering? How can we improve?

Modify: Keep trying. Looking for new ideas and adapt them to your business.

About this article and GAP Management Ltd

This article is based upon our experience gained by helping over 100 people start and grow their own businesses in the last 7 years.

We provide great ideas, an impartial view, and help you to develop and implement marketing plans that work.

For most of our clients we have been able to reduce their costs and increase the effectiveness of their sales and marketing activities.

May we put our experience to work for you? Please contact us for an initial meeting.

For personal help with marketing and sales to grow your business contact me on 01226 290288 or email Gareth@gapmanagement.co.uk