The four P’s- product, price, place, and promotion- should work together in your marketing mix. Often, decisions on one element will influence the others. Selecting an effective mix for your business will take time and effort, but these will pay off as you find and delight your customers, creating a profitable business along the way. Once you have the right marketing mix- the right product at the right price, offered at the right place and promoted in the right way- you must stay on top of changes and trends in the market. Change up your mix as necessary to stay in front of your customers.
Do you spend most or all of the time doing the talking?
Are you waiting for the other person to stop talking so you can share your next thought, essentially not really hearing what others are sharing?
Do you focus on telling others about your product or services, and you share little or nothing about the value you can add to their business or lives?
Most consumers still consider e-mail to be their primary form of communication, so it is worth it to spend marketing dollars in this medium. A huge benefit of e-mail marketing is that is is very low-cost.
Here are some tips for effective e-mail marketing:
Businesses build websites for many reasons. They can be an online storefront, a brand-builder, or a customer service and retention tool. When trying to develop your website as a customer service and retention tool, there are some rules of thumb you may want to follow.
What is a brand, really? I have heard many answers to this question, and I have narrowed down what I believe a brand is to the following:
-The unique impression you leave on your customers
-The look of your company
-The special ways you deliver your products or services
-Your attitude and the way you advertise yourself
And most importantly…
Our last blog covered some of the benefits of nurturing your brand. This installment will go into more detail about the top benefits of having a strong brand, then how a brand audit helps you develop a marketing strategy that will build on your strengths and address your weaknesses.
Think about all of the different ways that your brand interacts with and makes an impression on your customers, your employees, and all of your critical partners and stakeholders that help to bring your brand to life. Your brand might touch these consumers on a daily basis.
With each interaction you are given the opportunity to give your customer a great experience — building stronger brand equity, or give them a poor experience —damaging your brand in that customer’s eye.
When you see the Tiffany & Co. box, what do you think of? Quality, perfection, first class?
When I see that little blue box I think of determination, focus and a steadfast purpose for the brand. That little blue box has surpassed the job of holding jewelry and has become an icon of wealth, success and prosperity for the Tiffany & Company.
So how does that happen? How is a company able to build a brand, not around their product, but around the box that holds the product?
Why is a brand audit important? A brand audit is a holistic way of looking at a business. The brand audit examines all the areas in which your business interacts with the world. Before your business can prepare any effective marketing strategy or campaign, it must first understand where your brand is currently positioned and how that position is perceived by your employees, customers and market.
The other afternoon a gigantic YellowBook was delivered to our company. One of our employees set it on the front table and there it stayed for two days before it hit the bottom of the recycling bin. Never opened, never used. A poor tree sacrificed for nothing.
Consumers don’t always know what they want or need.
As an RA (Resident Assistant) in a college dorm, I was in charge of planning and promoting events for the residents on my floor but had trouble getting people to attend. I asked one resident on my floor if she had any suggestions for boosting attendance.