Marketing For Your Needs and Wants
If you have all the business you need (survival) and want (the degree of prosperity you accept), then you don’t need to do anything else right now. But, if you don’t have all you need and want, then you have to do something to acquire it. If the business isn’t coming to you, then you have to ”go get em”. This is called direct sales. If you presently have all the business you want but wish to protect yourself against seasonal slow-downs, deteriorating external conditions (inflation, consumer confidence, international tensions, interest rate increases, etc.) that reduce sales, then you should test different leads or sales techniques while the time is ripe and to have a better collection of tools to generate sales income when you need it.
When planning your marketing approach, it is beneficial to recognize which portion of the two major markets that you are going after. They are ”Market Share” and ”New Market Development.” Understanding which market, or combination of markets, you are approaching will help you plan the best strategy to implement sales in the most controlled, secure, cost-effective manner.
Market Share (Getting a piece of the pie) - This means taking it away from someone else who may fight back, and it may get dirty. Keep a clean nose, be patient and deliver superior value. The key is breaking the pattern of the buying parties. People want dependability. If the existing supplier services the account well (an attribute to keep you from being victimized by the same techniques) you need to offer something irresistible to break the pattern. Of course, dependability will keep them, but have a second program or offer ready because you want to secure your position as well as repel any attempt of Brand X to take them away from you. It’s hard enough to get them; losing them is inexcusable! Don’t hesitate to inform all portions of your company of this reality, and of your efforts to maintain what you acquire. Words that deliver dependability: Insured, award winning, satisfaction guaranteed, references, etc.
New Market Development (You create your own controlled destiny- direct sales) This is not for the faint of heart. Your mission, should you choose to accept it, will take you to bold new places where your competitors have never gone. This is done through direct education of the potential marketplace or by capturing an exclusive. Educating the potential market means making people aware that you have something that they:
1) need, and you are showing them a new solution to their need, or,
2) want, and it is justified (Madison Ave. is the master of this art). You may be able to show how a new siding will give them a better looking home and it is both justified by and made affordable by the energy savings. Or they may justify that new kitchen or luxury item because of easier resale or higher value. Every established market exists because credibility and acceptance of the value has been firmly established in the minds of the market. They didn’t magically become accepted. People want to know what is new and they want to believe that new technology will make their lives easier; they also want to trust that it will perform, so educate them to your new available solutions. Capturing an exclusive is perceived as an advantage by customers because of the lack of other choices, the idea being that you’re special for some reason. Develop exclusively a product, an added value on your existing products or services, (usually hard to do) or an exclusive service.
Educate the market showing dependability and value. People like to be led but not taken advantage of by deceptive practices. Concepts of problems and solutions must be used and verified. Which ”irresistible” offer can you make to break habits of existing markets? Or, how are you ’visible” to expanding markets? Or, how do you inform the potential market of what problem you can reduce or eliminate?
Marketing Table of Contents
