Proper marketing starts with having a product or service that will
provide fix for your customers needs. You need to designate your target market
that will need what you have to offer. For instance, if you where selling
electrical
components you would not want to target the plumbing industry. It
is also a good idea to incorporate a diverse product line, so anyone who would
use your product or service on a minimal basis will be able to purchase from you
instead of your competitors. In this case you need to assess what size the need
is and how you will be able to best market your product to fill the
need.
The goal should be to underestimate your potential and not to
overestimate. This consists of two areas. First being, be sure that you can meet
the demands of your customers without having too much invested upfront. Second,
you should never promise more than you can deliver.
Cash flow and marketing should go hand in hand. If you purchase too
much merchandise and cannot roll it over quickly you could put a strain on your
marketing ideas. Try to prepare for being one step ahead of the customer, not a
hundred steps. Too much overhead can lead to disaster before you ever get
started.
Another to include in your marketing plan is a realist time line of
what your company can do. If your research indicates it can take 14 hours to
complete the job, don't tell your customer it will be finished in 4 hours. The 4
hour promise may clinch the first sale, but when you can't deliver, you loose
the potential of repeat business. Your reputation is a marketing commodity...
good or bad.
Always remember, when it comes to marketing, that you can never have
enough knowledge of your customers needs.
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