The Marketing Dividend Rule
Published July 21, 2009 by Gillian Hunter
Survive or thrive? No matter, whether your business is experiencing good times or bad - you need to be smarter about your marketing. The rules are very simple - but will pay you dividends in the long run.
Smart Marketing Best Practice ...
Be on Target - now is not the time to be shift your attention to the mass market. Instead find your niche and serve them. The more markets you serve and wider your market -�the more energy, time, effort and money you'll waste. Ironically, people prefer to deal with companies that specialise, who understand their market and their unique problems.
So, the wider you cast your nets, the more likely you are to alienate your niche audience -your natural customer base. Find your niche - its the only group of people who will ensure your long survival ... and get to know them well!
Know your value - once you know what your niche is, you can begin to work out what value you offer them. You cannot second guess this - you need to understand value from the customer perspective. Not yours!
Only then should you start talking to others in the same market about your experience, expertise and know-how in their market. You are much more valuable to people if you are a specialist - and less value if you are all things to all men!
Get endorsements and referrals - if you have done a great job for someone - ask them to for a testimonial. Don't wait. Get on the phone and ask whether they'd be willing to endorse your work.
But don't stop there. Ask they if they could refer you to someone who has a similar problem in your niche market who they'd be willing to introduce you to ... I call this the three-legged-stool of customer engagement: Relevance, Credibility & Evidence
There's one more step:
Get the message out - Okay, now you know your market, you specialism, your value and what your customers think about you. You can't keep it quiet. Make sure people you want to market to - know!
Create a communications strategy that helps you get your message out in the most effective way - so that they are interested in what you have to say - and when they need your services - they know how to find you - quickly!
This is where your hard work pays off: learn how to find and keep customers when times are tough and you'll find and keep customers always.
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