Original Date Posted: Jun 20, 2012
By: Blair Ball
It is the revenues and profits from sales that pay all wages, all taxes, all education, all medical expenses, and for all hospitals, schools, roads, airports, office buildings, defense, welfare, unemployment insurance, and everything else of a material nature in America. Where there are high sales, there is high prosperity.
Where there are low sales, there is low prosperity, lack of economic opportunity, decline and ultimately failure.
Dunn and Bradstreet took all the statistics that they had generated on failing companies over the years and ran them through a supercomputer. This program sorted out all the variables and distilled business success and failure into a simple conclusion: Businesses succeed because of high sales; businesses fail because of low sales.
The Four Habits of Marketing Success
To develop the habit of specialization requires that you decide clearly the area in which you are going to specialize to compete and win in the current market.
You can specialize in one of three main areas: products or services, customers, or markets.
The second habit for marketing success, and perhaps the most important, is the habit of differentiatingyour product or service from that of all other competitors for the same customer.
Customers only buy what they consider to be “the best” as it relates to their specific need at the moment. Sometimes “the best” is speedy delivery. Sometimes it is long-term durability of a product. Sometimes it is convenience or low price.
But in every case, you must decide where and how you are going to differentiate yourself from your competitors.
Ask yourself, “What is my competitive advantage today?
The third habit of marketing is the habit of segmentation. Your ability to analyze your market, and to create a profile of the exact type of customer who can most benefit from the product or service that you specialize in, who appreciates what your product or service does better than your competitors, is the key to marketing success.The fourth habit for marketing success is the habit of concentration. The ability to concentrate in particular, and to focus all of your marketing and sales efforts and
energies on those specific customers that you have identified who can most benefit from what you sell, is the key to maximizing your sales, revenue and profits.Basic Marketing and Sales Principles still apply. However, with Social Media Marketing if done effectively will propel you past your competitors, but you must be Prepared to Act and Implement. Knowledge is Power.
1. Determine your area of specialization, in customers, products or markets, and make a plan to become the best in that area.
2. Decide upon your area of excellence, your “unique selling proposition,” and organize all your marketing and sales efforts around it.
3. Segment your market and determine those prospects who can most benefit from what you do well, and who can buy and pay the most readily.
4. Focus and concentrate all your marketing and sales efforts on your very best prospective customers.
5. Position yourself in everything you say and do as the most credible and believable supplier of your product or service to your ideal customer.
6. Treat your customers as if they were the most important people in your business life, because they are.
7. Decide upon the improvements you are going to make immediately to sell and service your customers better than anyone else in your market.
“The Golden Rule for every businessman is this: ‘Put yourself in your customer’s place.’” (Orison Swett Marden)
Learn how businesses are using Social Media Marketing to gain new clients and increase sales at our upcoming Social Media Marketing Workshops.