10 Free Marketing Tips
Marketing is often made out to be highly complicated and technical, in reality it is far from it. Below are ten marketing tips that can be implemented today, which require only common sense and your knowledge of your business.
- Have a clear picture of what marketing is really about: Often people think marketing is just about selling or advertising. This is partially true, but there are many other factors involved in marketing. These include: research, strategy development, advertising, selling, PR etc. Understanding this will enable you to gain a clear insight in to the marketing concept, and make more informed decisions.
- Understand the competitive environment: Marketing activities always fail if a firm doesn’t understand the environment that they operate in. If you know: what your competitor does, how they do it, what the consumer wants, and how you can take your company forward, you will be able to make informed decisions about your marketing. An informed decision will increase the chances of success. If you don’t understand your environment, give up and go home. You will fail!!!!!!!!
- Get your pricing strategy right: Most firms work out the basic cost of a product or service, and then add a mark up for profit, i.e.2-3%. Technically this is correct. Alternatively try putting a mark up on a product that is the maximum price the market will pay. This might be only 2-3%, or it might be 50-100%. Always look to charge the most that you can get away with, without damaging your sales, brand or company.
- Harness the power of existing relationships: We all know how hard it is to gain new customers. With your existing customers you already have a relationship. At this point you have reduced some of the barriers in the sales process. So try up-selling to them. Work out what your customers have bought from you in the past, and then develop an appropriate target spend. I.E. you sold a web site to them last month, how about an e-marketing package to go with that website.
- Develop a networking strategy: How often have you walked in to an event and thought what am I going to do? Make an event work for you. Try to ensure that everybody in the room gets your business card, this is the first step. From this speak to a fair number of people, but try not to give the hard sell. Once you have identified who you could do business with try to arrange a meeting with them. At any future meeting you can then give your sales pitch. (Note: have a 30 second intro pitch for any contacts you meet: who you are, what you do, and the benefits that you provide)
- Use PR as free advertising: A timely and newsworthy press release is just as good, if not better than a costly advertisement. It gives you credibility, a favourable image and most importantly it’s FREE.
- Create a competitive advantage/USP: You provide a better service, cheaper service, your more in-tune with your customers needs. Try to do something that your competitors can’t or wont.
- Get your customers to sell for you: Positive word of mouth is one of the best marketing tools. If you can get your customers to speak highly of you, this again breaks down barriers in the sales process. Making your chances of doing business greater.
- If it doesn’t work stop it: Just because you thought something was a good idea, or you have spent a lot of money, isn’t a valid reason for continuing. Be ruthless with your self, if it doesn’t work cut your losses and move on.
- Never spend on anything that doesn’t give back: A fancy web site or advert might look good, but unless it puts money in your pocket don’t bother.