10 Step-by-Step Business Startup Guide: Step 10Dave J
STEP 10: Sales and Marketing Read any autobiography or business success story, you’ll notice one common denominator for success - sales. You need to take whatever action possible to ensure that sales are consistently growing to allow you to gain profit. Again, a word of caution; do not target everyone! In today’s competitive environment, consumers are becoming more demanding and many would seek out products/services that meet their specific need or want. First and foremost, I need to identify (and do some in-depth research) my specific target market. Next, I would develop sales and marketing blueprint ( similar to the one shown in DAY 8 ) to attract the kind of customers I wanted and meantime, to retain existing customers. No matter how I intend to plan and execute these strategies, I must understand the formula - executing these plans is like playing a game. What game…? Yes, you are correct - the number game. The higher the number of sales agents/staffs, or the higher is the amount of advertisement posted, or the higher the amount of distribution channels, or the more attempts I personally made to seal a deal, the bigger chances I have in winning. I know for sure, a prospect or a client may say “no” to my product/service today. But, it doesn’t mean a “no” forever! According to LIMRA (a research center for financial planners and financial advisors in America) findings, a potential buyer usually says “no” seven times before making the actual purchase! Before
we move on, let’s understand first the relationship between sales and
marketing. Marketing is the process of bringing awareness to the
product/service, while sales is the process of making the customer buy
the product/service. 1. Myself Myself The first approach is the most affordable yet effective strategy. It is made up of all the possible resources that I already have to generate sales and create awareness. These are some ideas that I would usually work on:
Networking Marketing The
sky is the limit when it comes to marketing and selling the benefits of
the product/service. Networking is a great, super low in cost to
connect with potential customers as well as strategic business
associates and spread the news about the business. Affiliate Marketing This is not a new
jargon. It means engaging freelance agent to do the promotion and
sales, online. It is a popular marketing approach where E-commerce
Website owners engage existing customers, visitors or even
organizations that are willing to promote and sell the product/service
for a stipulated commission. The role of a freelance agent (known as
affiliate), is to direct traffic to the Website and ultimately when a
sale is made, commission is credited into the affiliate’s account. Online Sales Regardless
of the kind of business these days, I always find a Website is
essential. And depending upon the business niche and objectives, it can
be a major part of the company’s sales and marketing initiatives.
Designing a Website can be made fairly simple by working with a company
that specializes in helping small businesses create their Website or
get Website DIY software available online. Customers expect
the world and are suspicious of almost everything. The content (words)
must be crisp and intelligent. What the Website says should grab
visitors’ attention, pique their interest and motivate them to action -
to click the “buy now” button. Marketing Materials This may sound a little basic but it is vital to have all the basic marketing tools. Printed materials like business cards, letterhead and brochures should be a staple in any business. It’s essential for business communication and networking. The key to developing good marketing materials without breaking the bank is to identify an affordable graphic designer and low-cost printer. I normally engage a freelance designer to get all of them done. Direct Mail For
many fresh entrepreneurs, there is no better way to reach their target
market, than mailing literature directly to homes. Based on effective
market research, entrepreneurs can identify their core market, assign
them certain codes and obtain mailing lists to directly send them
literature on the company profile, discount, coupons or other
information. To optimize any direct mail strategy, entrepreneurs should
consider retaining a direct mailer or bulk mail house company.
Advertisement Advertising is one of the fastest ways to create awareness of the company, product or service. However, it can be relatively expensive for many startup owners. Before anyone spend money on advertising, however, it’s crucial to understand what advertising can and cannot do for the business, and draw up a blueprint for moving ahead. Here are four main functions of advertising:
Advertisement cannot do one thing for sure - guarantee sales. Hence, placing up an advertisement campaign doesn’t mean a surge in sales or revenue. Assuming budget is not an issue, I would definitely invest in an effective advertisement campaign. Therefore, I would create an advertising plan that fit into my budget plan in advance before committing to it. Outsourcing One simple and straight forward method that I would not miss out is outsourcing the sales of my product/service to an outsider. It’s easy, get the yellow pages (online or offline), search for marketing agencies, call them up and propose a joint venture (JV) with them in selling my product/service for a commission in return. The JV works perfectly as I am in charge of promoting and marketing the product/service as well as providing after sales service, and the agencies are only responsible for selling them. Most marketing agencies just want to focus on selling. I would discuss with these
agencies to attain a win-win joint venture - a remuneration system that
allows them profit from each sale, while I could earn a healthy margin
from each sale made. When it comes to negotiating an agreement, the
rule is, the higher the commission I offer, the more excited these
agencies are in taking up the JV. *Note: Unproven teories to not be shown to my readers! If you need any small business startup help, feel free to visit my Website => To get the complete online business course onsmall business startup guide, log on to http://www.12daysonly.com, and redeem your BONUS PACKAGE worth US$1,396.00 Disclaimer - This article may be freely reprinted in its entirety in any e-zine, newsletter, blog or website. The author’s name, bio and website links must remain intact and be included with every reproduction. |
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