Marketing Idea for Small Business.
Your marketing does not have to be difficult in your home or small business.
As a professional business coach I have successfully seen what happens when you understand a simple marketing system and apply it to your situation.
Great things happen when you follow this process I am about to divulge. Great things happen to your sales, your profitability and your enterprise.
OK so marketing idea for small business PART 1:
To be successful with marketing you need to think of it as a funnel.
The funnel consists of 5 simple parts and you need to ensure you have a strategy in each of these 5 areas. What are the 5 areas?
1. Lead or enquiry generation.
2. Conversion of this enquiry to a sale (Sales Technique)
3. Once the person is purchasing from us we need to ensure the sale is as big as possible so this area is called "Increasing average spend".
4. Once the person has bought from us we always need to ensure they will come back again and again so this area we call "Repeat Customer Transactions".
5. Finally you need to measure the profitability of the 4 steps above and measure it's success or otherwise. "Measure Profitability and Increase Margin."
Does this sound difficult? NO - most definitely NO. It is not difficult at all to track and implement tactics and strategy in these areas.
My suggestion is this. Pick out 8-12 strategies in the above 5 areas and simply list them down into a 1-2 page written 90 day plan. As humans, as soon as we start breaking big complex tasks down into smaller chunks our day and focus becomes easier.
So for example,
1. Lead generation could be direct mail, google adwords campaign for your business website and implement a referral program.
2. Conversion to sale could be to simply follow up 100% on all enquiries every time and to do some product training to be able to sell your product/ service more efficiently.
3. Increasing the average spend of each customer could be done by introducing a checklist of other add-on services at the time of the buying decision so the buyer gets a clear idea of what other affiliated products/ services might help them.
Asking add on questions every time as a person is making a decision is a great technique.
4. To get customers to come back again and again is as simple as staying in touch with them via newsletters, e-zines, letters after purchase, follow up phone calls.
Here is a great rule to follow and one of the best marketing ideas for small business.
Stay in touch with your clients every 30-90 days no matter what your business is. Do this and miraculous things happen.
Generally more referrals will result. You become top of mind for your current customers so they end up coming in more frequently. Sales and big profit increases invariably happen. This seems so simple but hardly any home business does this effectively probably because it is not an instant increase. It's more a nurturing relationship building strategy.
5. Increase profit margin strategy might mean you set a goal to increase your gross profit margin by a few per cent. Or it might mean increasing the prices on some of your services whereby hardly anyone will notice.
Follow this 5 step formula every 90 days in your business and watch big increases happen.
Marketing ideas for small business need not be difficult. Just follow a proven formula for success.
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