Marketing is a Long-term Investment

Written by George Torok


"Dig your well before you're thirsty" isrepparttar title of a wonderful book by Harvey Mackay. It is smart advice for investing your money, "Save your money before you need it", or growing your business, "Market today for tomorrow".

When times are tough some businesses stop marketing. They reason, 'No one is buying so why should I advertise?' The other time some businesses stop marketing is when they are selling like crazy. Again they figure - 'I can't handle any more business right now so why promote?'

Two key points here. Advertising is only one narrow form of marketing. Marketing is about sending messages. You send messages in a plethora of avenues; advertising, customer service, by association, quality, public relations, sponsorship, awards, etc… Andrepparttar 120266 second point; marketing is a long-term investment.

Selling is immediate. When times are slow you need to crank-uprepparttar 120267 selling efforts. How do you escape from a sales crisis? Improve selling skills, search out new markets, offer more value and most importantly be systematic. When there is a fire, put outrepparttar 120268 fire. That's sales.

Preventingrepparttar 120269 fires of tomorrow is marketing. That is why marketing is so difficult to justify or measure. The good marketing you do today will pay off in a few weeks, months or even years. Is it worth it? Only if you want to be in business in a few years.

Invest wisely in your marketing. Many ofrepparttar 120270 principles of investing money apply to marketing. Don't put all your eggs in one basket. Your message must reach your prospect along several avenues. That conveys more credibility. For example; you might advertise in a magazine, sponsor a community event, send out news releases and offer extras on your website. Your investment portfolio should be diversified, so should your marketing. Warren Buffet's long-term strategy to 'make smart investments and hold' can apply to your marketing. Make a long term marketing commitment to yourself. Stick to it. Be consistent and persistent. That is smart investing and smart marketing.

Considerrepparttar 120271 different forms of currency in your business. Cash isrepparttar 120272 most obvious. A signed order is another. Receivables are currency - you can even use them for collateral - or sell them. But some forms of currency look better than others. If cash is best then you might be tempted never to give credit to customers. But you might lose sales because of that. So you may decide to give credit to approved customers - knowing that you can likely convertrepparttar 120273 receivable to cash. Even signed orders are currency - you can factor them to obtain financing.

Marketing is another form of currency in your business. Good marketing creates customer awareness, goodwill, education, credibility, even desire. All of that can be converted into signed orders, receivables and hence cash.

4 Easy Ways to Boost Your Sales

Written by Bob Leduc


4 Easy Ways to Boost Your Sales Copyright 2004 Bob Leduc http://BobLeduc.com

Here are 4 easy ways you can boost your sales for little or no new expense ...and without making major changes in your selling process.

1. Focus on What Your Customers Really Want

Your customers really don't want your products or services. They don't even want what those products or services do for them. What they really want is to gainrepparttar specific feeling they get after buying and using your products or services.

Keep this in mind when you create web pages, sales letters and other selling presentations. Emphasizerepparttar 120265 feelings produced by using your product instead of talking about what your product is - or how it works.

Tip: Convertrepparttar 120266 benefits delivered by your product or service into vivid word pictures. Then put your prospect in repparttar 120267 picture by dramatizing what it feels like to be enjoying those benefits.

Example, if you sell financial products, describe what it feels like to enjoy an affluent life style without debt.

2. Keep Communicating With Your Previous Non-Buyers

You've heard it before - but I'll say it here again. Most prospective customers will not buyrepparttar 120268 first time they see or hear about your product or service. You're losing a lot of sales if you do not persistently follow up with those prospects.

Your follow up procedure can be as simple as periodically contacting them with a new offer. Or it can be more complex like distributing a newsletter or providing updated product information.

Tip: You cannot follow up with prospects if you don't know how to reach them. Set up a system for collectingrepparttar 120269 names and contact information of all prospects who do not buy from you.

Example, offer a special report, a list of sources or some other valuable information your prospects cannot get anywhere else. Deliver it only by email or postal mail so you can get their contact address.

3. Encourage Questions

Questions from prospects may be a nuisance. But answering them can be very profitable.

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