3 KEY MARKETING STRATEGIES TO GROW YOUR BUSINESS Copyright 2002 Bob LeducEach of these 3 marketing strategies creates permanent growth for your business -- and obstacles for your competition. You can use them repeatedly to add new layers of income to your business.
1. SET UP JOINT PROMOTIONS
Identify
characteristics and activities of your most profitable customers. Look for other non-competing businesses already reaching them. Then devise a way to set up some joint promotions. This proven strategy produces dramatic results -- for very little expense.
For example, I once saw a clever joint promotion by a health club and a gourmet restaurant. Both catered to young professionals and business executives in
same town.
The restaurant's menu included several special dishes recommended by
health club's nutritionist. It also distributed discount membership coupons for
club. Even their advertising mentioned
affiliation -- to attract health conscious customers who often avoid food prepared in gourmet restaurants.
The health club's monthly newsletters included a reprint of
restaurant's healthy new menu items recommended by
club's nutritionist. They also distributed
restaurant's discount coupons to their members.
2. UNCOVER NEW NICHE MARKETS
Continually look for new niche markets you can serve. Then develop customized versions of your advertising appealing to
special concerns of prospects in each niche. Offer specific solutions to their unique needs and you'll uncover new groups of customers eager to buy from you.
For example, I recently bought a new computer system for my business from a company because they catered to my specific needs. An ad in a business publication listed their special web site for small businesses customers. There I was able to order
exact configuration of hardware and software I wanted at
price I was ready to pay. They won
sale by catering to my niche.