Marketing is about attracting customers to your particular business, by convincing them that you can give them a product or a service that is superior to that of your competitors.
If competition is significant, marketing projects to attract customers will have to be a continuous process. It is therefore a question of trying various marketing methods to try to increase sales, determining which method(s) are the most effective in cost to benefit terms, and concentrating on them.

The three methods by which sales can be increased are:-

1. Increase the Product Range.
2. Enter new markets. That is expand the geographic area covered.
3. Penetrate more deeply your existing market. That is gain more market share in the geographic area you are presently supplying.

Add to the Product Range.
Adding an additional product or service to the range to gain growth in sales. Obtaining synergy benefits by exploiting an existing distribution network; adding a complimentary product, to give a more comprehensive service to the customer; levelling out seasonal variations; are typical motivations for this marketing policy.

Enter New Markets.
Identifying immature markets with room for a new entrant. Many companies are implementing this policy, by supplying countries, whose political climate has changed in recent years. Good examples are China and Vietnam. For companies whose policy is nationally orientated, opening up branch offices in other cities may be equally valid.

Market Penetration.
Provided market research indicates that it will be a valid policy, penetrating more deeply an existing market is often the most economic method of achieving sales growth.

Market Penetration - Action.

1. Think about the "Image" you wish to present and make sure your marketing carries this theme consistently.
2. Decide the type of product/service you believe you are particularly good at, and/or is particularly profitable. Present yourself as a specialist in this area.
3. Avoid waste, if you supply a particular type of customer, focus your marketing (e.g. advertising) to that particular type, rather than to the population in general.
4. Advertising through the media is an important part of a marketing plan. Choose the method that you feel will be the most cost effective. Always limit the expenditure to what you can afford. Monitor the response, relative to cost, and concentrate on the most cost effective.
5. Editorial advertising in business magazines and if relevant, the local press. That is advertising by writing a press release about your business, usually to explain a new service ; product; process; or technology.
6. Advertising in telephone directories, national and local. Advertising in Yellow Pages is almost obligatory.
7. Direct Mail leaflets. The response is often low, but the method is relatively cheap. It can be specifically focused to a particular customer group more so than other methods. When assessing the effectiveness of this method, measure response to cost rather than the number of leaflets issued.
8. Have "Special Offer" marketing initiatives for the quiet periods, be they weekly monthly or annually.
9. Keep records of customer names and the dates of their visits and the service given. On all special offers and marketing initiatives, inform your customers direct. Treat them specially. Try to create the "Company Club".
10. Try to find out why new customers chose your Company. Concentrate your marketing effort into those techniques, which appear to be generating the best response.
11. Based on the rate of response, set yourself targets, for example:-
    * Number of potential customers to contact each day.
    * Number of new customers per month/year.
12. If you receive enquiries by phone ensure that staff are trained to handle telephone calls effectively. Respond to enquiries commencing with, "How" or "Which" or "Why" or "What" or "Where" or "When". Such questions cannot be answered by a simple yes or no. Create examples of hypothetical telephone enquiries with correct responses. Issue these to the relevant staff.
13. The Networking technique of fully exploiting personal and business contacts could be of assistance. If you are not familiar with the technique, I suggest you read up on the subject. Your local library should be able to help.
14. Ensure you spend time on marketing effort however much other pressures and activities demand attention. Determine how much time you should give to it and plan it into your day. You may find it advantageous to try to plan your activities for each day. Do this the day before. There are a number of books available, which deal with the subject of time management. I would recommend that you read one. Again your local library will almost certainly have one.
    Local Suppliers
15. Contact local clubs and organisations, sporting, special interest groups etc. Offer discounts on the presentation of proof of membership (you don't care if they cheat), in return for advertising on their premises or in their communications to members. Many will have facilities for advertising, but will of course charge.
16. Consider sponsoring local sporting tournaments or special events. Give a discount voucher to each entrant.

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Related Articles: Creating a Marketing Plan

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Reproduced with Permission
Copyright Len Bainbridge (Unregistered)