"What am I doing wrong?" That's a question business owners often ask themselves when business is slow. Often, answer is... "You're not doing anything wrong. You just need to do some things better -- and you need to start doing a few things you've been neglecting."Here's a list you can use to evaluate your own marketing efforts. It includes what I've found to be 7 most important marketing principles contributing to success of ANY business.
1. TARGET SPECIFIC NICHE MARKETS
Everyone may be a prospect for your product or service. But your marketing efforts will produce best results for lowest cost when you target prospects with greatest need for what you offer. Identify a niche market. Customize your promotional material to appeal to their greatest need. Then multiply your results by defining several other niche markets and slanting your promotional materials to appeal biggest need of prospects in each market.
2. PROMOTE YOUR OWN USP
USP is short for "Unique Selling Proposition". It's compelling reason why a prospect will do business with you instead of with your competition. You'll attract maximum number of customers when you offer a benefit they cannot get from your competitors. If you don't already have a USP, create one by adding something to your business you're not already offering. Convert it into a benefit statement and include that statement in all your advertising.
3. NEVER ADVERTISE WITHOUT AN OFFER
Always include a powerful offer in your advertising. Offer free information related to your product or service to generate inquiries or website traffic. Then make most compelling discount or bonus offer you can afford -- to convert these inquiring prospects into paying customers. This automatically leads to next marketing principle...
4. COLLECT CONTACT INFORMATION AND USE IT TO FOLLOW UP
Most prospects won't buy first time they hear or see your sales message. You need a system to collect contact information enabling you to reach them again with periodic reminders and offers. Many businesses develop over 50 percent of their sales by following up with prospects who previously requested information but didn't buy -- yet. Advertising is expensive. Maximize your return on it by following up periodically with prospects it produced to convert more of them into customers.