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A Common - Yet Easily Avoidable - Marketing Mistake By Kathleen Gage

December is a month in which many organizations make plans for coming year. Now is a great time for you to look at your marketing systems for attracting and retaining customers.

Although front end systems such as advertising, public relations, press releases, direct mail, sales letters and promotional items are important, equally as important are what you and your staff do after you gain new customers. It never ceases to amaze me how companies will invest money in campaigns to gain new customers yet have no system to build and maintain those relationships they were so eager to attract in first place. Having a system in place to keep your name in front of existing and potential clients is a very important part of a great marketing campaign. Additionally, having programs in place that make it easy for people to do business with you is essential to health of your bottom line.

Any company that depends on repeat business absolutely must have a good customer retention system in place in order to thrive in today’s competitive environment. Time and again I have seen this as primary area of businesses where companies don’t succeed at level they are capable of - especially in small businesses. The thinking with many people is, “If they want my services, they know where to find me.” While a potential customer is looking for you, your competition’s marketing systems may find them first!

The key elements of a successful marketing plan are to:

1. Know your customers--their likes, dislikes and expectations.

2. Know your competitors--their strengths and weaknesses. Only by identifying these factors, can you develop a marketing strategy that will allow you to anticipate and fulfill your customers needs, better understand your competitors and identify changes in marketplace that can affect your bottom line.

The purpose of a marketing plan is to define your market, i.e.,identify your customers and competitors, to outline a strategy for attracting and keeping customers and to identify and anticipate change. It takes careful planning and a thorough understanding of marketplace to develop a strategy that will ensure success.

Generally, first and most important step in understanding market is to study it through market research. For example, in case of a franchise, franchisor has already done market research and developed a marketing plan, so you will need to review plan franchisor has provided. Look over plan to determine what product/service you will offer and write a description of it.

Even though franchisor has already described your product or service, it is a good idea to develop and write your own description because this process will help you develop invaluable knowledge of your product or service--a key element in any successful marketing plan.

When describing your product or service outline what you feel are its unique aspects, and explain how or why these aspects will appeal to customers. Emphasize special features and benefits that you feel are its selling points. These features and benefits are what you will use to convince customers to purchase your product or service.