Success Fanatic Blog

Marketing Strategy - Maintaining Trust

A good marketing strategy includes knowing that you must not just build trust and credibility, you must maintain it.

I recently had an experience with someone in business who I've trusted for a while. It happened gradually. Here's what happened.

This person built trust and credilbility with me and I invested quite a bit of money into what this person was selling. I was very excited about this whole thing. That was a little over a year ago.

Since then we haven't had a lot of personal interaction. It's only been in a group setting. In that context, this person said they were going to do some things and there were other things they wouldn't do.  I listened carefully - we all did. It was important to our futures.

Over time, it turned out that this particular person changed their mind. Things they were going to do didn't happen. Things they weren't going to do, did happen. The result is that one person spoke out. Others who were trying to be polite also spoke up. Some have been given things others haven't so they are alright with this person.

But this person has now lost about half of the original group and I'll bet that they are telling some of their people their story. It will be just a matter of time before they start telling the masses on the internet. All of the time that this person has spent building a company and reputation will be affected by this.

The moral of the story?  You need to not only build trust and a marketing strategy, you must be sure that your business plan insists on congruity and living up to your promises.

Marketing Strategy - Customer VS. Client

Your marketing plan must include a marketing strategy that differentiates between customer and client. In some industries, you have only one or the other. For instance, a chiropractor, coach, consultant, will only have clients. Then there are other industries like real estate that have both. In real estate everyone is a customer (limited fiduciary responsibility) unless you're a buyer's broker then they are your clients. In real estate, these are legal terms and if you call someone a client who is really a customer, you could get into legal trouble with the Real Estate Commission. This is probably the most extreme example.

The easiest way to generally differentiate this twist for your marketing plan, is this: if you work with them one time on a non personal level, they are customers. If you work one on one with them, they are clients.

After you do it for a while, it will become obvious to you. But if you delineate it ahead of time, you'll know what they expect, which is important in knowing how to treat them.

Marketing Strategy - Chumming

Marketing Strategies come in all shapes and sizes and are only limited by our imaginations.

I've always talked about the value of fishing when you are marketing your business, because , in effect, that's what you're doing. You cast your line with your bait in a place where you know you'll find fish, and you wait for a nibble.

I just learned about the concept of chumming. This takes fishing to a whole new level. Here are the basics. You find your favorite spot, you put great bait on 4 hooks at one time, all on the same line, then you cast. After you cast, you take a mixture of chicken feed, flour and water, form it into a ball, and throw it right where your line is. The fish come running (or swimming very fast) and get a taste of food, want more, and chomp down on the hook. You reel them in.

Great comparison to marketing and a brilliant marketing strategy to add to your marketing plan. Have four different hooks to get them there in their own way, use chicken feed (free great content to make them want more) then reel them in. How awesome is that?

Marketing Strategy - Room Service

Your Marketing Strategy must be clear, whatever it is.

Many businesses start out with very clear promises and prices, then eventually dilute their message by making changes in the service or product and forget to change their message.

An example of this in the retail world happened to me last weekend. I was staying at a hotle in LA. My first night there I was tired and had some work to do. I ordered room service, so I could get comfy and settle in to work.

I placed my order and it came as promised, but when I looked at the bill, there was a significant difference in to of the three items (much more expensive, of course).

I called down to ask about this and was told the prices had increased but they hadn't gotten around to changing the menus in the rooms. We're talking about a difference of $16.50 on this bill for one person.

I'm considering taking this up with corporate on principle. I make my livelihood delivering what I promise for the fee I will charge. They need to do the same.

Be sure that you deliever what you say you will for the amount you advertise or agree on.

Marketing Strategy - Proper Pricing

The Pricing Marketing Strategy is critical to success. If your service and products aren't properly priced, you will not have sales.

I recently worked with a woman who couldn't understand why she wasn't getting more clients. She was doind the right things = she had her bullseye market and her marketing plan figured correctly. We talked about it in great length.

The one marketing strategy she hadn't done enough work on was her pricing. In her case, her prices were much too low.

If you are an expert at what you do, but yourrates and packages are too low, you are in effect telling them that you aren't really confident in your own abilities and are afraid you'll be found out - called out as the non-expert you really are.

Everything in your musiness must be congruent, including your fees. Don't be afeaid. You're worth it.

Marketing Strategy - The Potato Pancake

I'm always know a great marketing strategy when I see one. Sometimes, it's presented as a visual.

That's what happened to me last night. I'm visiting my home town, and there it was in front of me.

My father and I decided to go to the local church picnic last night. We got there, and found the food stands (the best reason to go to a chruch picnic). There were three. One had all of the standard stuff - hot dogs, burgers, etc and a couple of unusual things like cabbage and noodles. The second one had pizza, fries, sub sandwiches, etc. The third one had only potato pancakes. Potato pancakes are an ethnic dish, but so is cabbage and noodles and pierogi, both which were being sold at the other booths.

What we saw said it all. There were no lines at either of the first two stands. The potato pancake line streched for blocks.

As a marketing strategy, doing one thing and doing it so well that no one even tries to compete is the best there is. When you do your marketing plan, what happens if your narrow your bullseye to just one service? The answer is easy. If you do it well, you'll have them lining up at YOUR door.

Marketing Strategy - Pricing Your Most Desirable Well

Part of your marketing plan should be knowing what you offer that you can charge a premium for.

US Air, as a new marketing strategy is now doing this. For years seat selection has always been first come, first served. That’s changed.

When you book your flight and choose your seat you might be disappointed to find yourself at the back of the plane. I booked way in advance and that’s what happened to me.

When I went online to check in, there was a new option. Upgrade your seat to a “preferred seat” for $20. I was excited. I could move from the 20th row to the 6th row. It was worth it to me. I had to change planes, and I once missed a flight becasue I couldn’t get the masses to let me out so I could run and catch it.

It actually got even better in this case, because although the flight was almost sold out, there was one seat on the plane that didn’t get filled – the one next to me. I was able to stretch out for the entire flight. It was heaven, and well worth the money.

The US Air marketing plan change makes sense to me as a passenger. As a marketing strategy, it works well in this or any business. If you have something worth paying for, price it accordingly.

Marketing Strategy - Seize The Opportunity

A great marketing strategy now is to find what will calm your potential customer. There is a tremendous amount of fear and concern. If you can supply them with something that will give them peace of mind in any area of their life, they will be very grateful and will buy your service.

For example, I have an A/C client. He is provided a one cost for service plan for his customes. Emergency repairs will be included. Parts are extra. He's asked his service men to each cover one after hours night per week as part of their regular 40 hours. This is a good deal for them, since they don't actually work unless they have a call, it's a great deal for the consumer, because they aren't payong extra, and a great deal for the company, because he knows how to budget his money.

His marketing plan has changed by adding this strategy, but marketing plans are designed for small companies for exactly that reason, so they can change if needed..

Marketing Strategy - Reconnecting

Not every marketing strategy involves talking to new prospects about your business, Part of your marketing plan should have a provision for keeping in touch with people you already know.

How many people do you know who don't know what you do? They may be family, or friends or people you know because of your kids or through other organizations. You always assume that they know what you do. The truth us that they may not. The may know your category, but not what problem you can actually solve.

As part of your marketing plan, arrange to meet with at least one person per week that you already know in some other way. Tell them about what you can do for your clients. Ask if they know anyone who needs your help.

Sometimes the best marketing strategy is the simplest one. Talk is cheap but may be worth a lot of money.

Marketing Strategy - Bullseye Market

Part of your marketing plan is to define your target market as a marketing strategy so that you know who you are going to market to.

More important is to refine that marketing strategy to be more exact. Close your eyes and imagine a target. See the round circles going in closer and closer to the center? It's the center we really want to concentrate on. That's where you'll earn the most points.

It's more difficult because you have to be a better shot to hit it. Unless you are an expert who has developed a way to always hit the bullseye. Then it's easy.

It's the same with marketing. If you're following your marketing plan and becoming more of an expert every day, it gets easier to find the bullseye - as long as you define it in your marketing plan in the begining.