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What are you doing now?
Marketing gets them in the door, so sales can close the deal. It
sounds like your marketing isn't getting 'em in the door.
Let's examine your existing marketing plan for clues, and then some
strategies for increasing your top-line growth based on our findings.
Product Packaging :
Is your product packaging attractive? Does it complement the product
or service? How does your packaging compare
to similar products or services on the market in the eyes of your
customers? Is there a perception of quality and value?
Pricing:
Are your prices competitive? Too high, too low? Test your
pricing levels to ensure that an adjustment isn't needed.
Competition:
Who is it? Any new players? What are they doing and is it working?
Who is gaining ground in your market and why? Zero in on what specific
differences exist between you and your competition.
Target Customer or Market:
Who is it? Are you reaching them? How do you know? Make sure that
you haven't lost touch with your true market sweet spot, things
change after all, and you may not be aiming the rifle at the right
target anymore.
Marketing Communications:
What is your marcom mix? How many advertising outlets are you using?
Which are producing? How do you know? Perhaps, it's time to shift
your mix and allocate to some new channels to reach your market.
Marketing Budget:
Relative to sales, what are you spending? Is it enough? Assuming
that you are using a good marcom mix, you should be spending from
10 to 20 percent of sales revenue on your marketing. This is a general
figure that varies by industry, company size, and market maturity.
However, anything less than 10 percent is probably too low.
If you're spending in the range above, consider your product packaging
and your marcom mix, because you are either not telling a good story,
or you're not telling it to the right audience and changes are needed.
Need some help?
Sometimes an outside opinion and a little research is just the ticket
for what ails marketing gone astray. We at KeyResults would love
the opportunity to speak with you about ways to increase your top-line
revenue and get those customers banging on the door.
KeyResults specializes in Marketing and Sales Communications Services
and is located in Houston, Texas. They can be reached at 281-376-5378
or email: info@keyresults.com. The company website is: http://www.KeyResults.com.
Contact us to learn more
about the KeyResults consulting services available to you.
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