If you have struggled to keep your sales numbers up, then you may need to take a deep look at your marketing strategy. To help make sure that your business is able to succeed, your business has to have a solid marketing approach and sale strategy.
The first tip is one of the most important. You must understand who your target demographic is. Who are you attempting to sell your products or services to? One way of doing this is to create a detailed buyer persona of several key demographics that you want to reach. Consider their typical age, their yearly income, their interests, and how they are likely to respond to different forms of advertising. There are many resources online that will help you uncover more details about the customers you want to focus on.
4 – Delegate Marketing Tasks
Within your marketing department, delegate various tasks to specific members of your team. For example, if you use social media to keep your customers informed, allow one person to handle the daily social media posting and interactions with customer comments. This helps keep a unified tone throughout the methods you use to market your products or services.
3 – Create a Targeted Email List
Use a monthly or even bi-weekly email newsletter to keep your customers informed. You will use a targeted email list to reach customers that have purchased specific products or services. The best method of building your email list is to allow customers to signup from your website, possibly after they have made a purchase. Paying an online company for an existing list of potential customers has been shown to be detrimental to marketing strategies, as these email addresses are unsolicited and did not ask to be part of mailing list. There are a number of useful online programs for managing and tracking the results of a mailing list.
2 – Use Multiple Delivery Methods
Never put all your eggs in one basket. Use multiple methods to market your products or services. You should employ the use of a website, social media, press releases, and other forms of online marketing. If you have the budget for it, you should also include radio, television, and print advertising. While more people are using the internet than ever before, the older forms of marketing are still relevant and effective. Employ an array of marketing strategies and carefully monitor the return on investment of each.
1 – Content is King
All of your marketing efforts should revolve around the fact that content is king. Your goal in advertising and marketing should be to inform your customers about the benefits of your services or products without pushing your product on them.
Give them honest, helpful advice about how to use your products or why they will benefit from your services. Customers are more likely to share helpful information and content with their friends, family, and co-workers than they are to share direct sales pitches. This can help with word-of-mouth advertising.
By combining these tips, you could gain new perspective about your current marketing strategies. Start from the top and consider all of your current efforts to determine what you could do differently to reach more people and gain the trust of your customers. We hope you found this information useful. If you have a question, please leave us a message and we will get back to you.
It’s not easy getting a small-business loan these days. It’s even harder if you are a minority entrepreneur.
New research reveals that non-whites are treated much differently than their white counterparts when looking for a business loan. This happens even when all other variables are identical.
The study, conducted by Utah State University, Brigham Young University and Rutgers University, featured nine businessmen—three white, three black, and three Hispanic. They visited numerous banks seeking a ,000 loan to expand the very same business. Each applicant had similar size and stature, clothing, education levels and financial profiles.
Glenn Christensen, a marketing professor at BYU and one of the study’s authors said their experiences weren’t similar at all.
[Glenn Christensen audio comment]
A report last year found that Hispanic and black entrepreneurs tend to start their companies with less money than whites and they rely more heavily on their own assets than on banks or investors. The study found when they do seek bank financing, they are less likely to be approved than whites, even when considering factors like credit history and business type.
Even when they are approved for a loan minorities aren’t on a level playing field. Recent data shows minority business owners pay interest rates on average 32 percent higher than what their white counterparts pay.
With the number of minority owned businesses climbing rapidly this also has an effect on the broader economy.
SBA Sr. Manager, Stephen Hart says the SBA has specific programs to help minority business owners gain access to capital.