3 Key Marketing Strategies to
Grow Your Business
Copyright 2002 Bob
Leduc
Each of these 3 marketing strategies creates permanent growth for your
business -- and obstacles for your competition. You can use them
repeatedly to add new layers of income to your business.
1. Set Up Joint Promotions
Identify the characteristics and activities of your most profitable
customers. Look for other non-competing businesses already reaching them.
Then devise a way to set up some joint promotions. This proven strategy
produces dramatic results -- for very little expense.
For example, I once saw a clever joint promotion by a health club and a
gourmet restaurant. Both catered to young professionals and business
executives in the same town.
The restaurant's menu included several special dishes recommended by
the health club's nutritionist. It also distributed discount membership
coupons for the club. Even their advertising mentioned the affiliation --
to attract health conscious customers who often avoid food prepared in
gourmet restaurants.
The health club's monthly newsletters included a reprint of the
restaurant's healthy new menu items recommended by the club's
nutritionist. They also distributed the restaurant's discount coupons to
their members.
2. Uncover New Niche Markets
Continually look for new niche markets you can serve. Then develop
customized versions of your advertising appealing to the special concerns
of prospects in each niche. Offer specific solutions to their unique needs
and you'll uncover new groups of customers eager to buy from you.
For example, I recently bought a new computer system for my business
from a company because they catered to my specific needs. An ad in a
business publication listed their special web site for small businesses
customers. There I was able to order the exact configuration of hardware
and software I wanted at the price I was ready to pay. They won the sale
by catering to my niche.
Tip: One way to find a new niche market is to evaluate your
existing customers. Look for groups of customers with similar
characteristics you don't currently cater to in your advertising. Then
create new versions of your advertising appealing to their specific needs.
You'll attract a lot more customers just like them.
3. Exploit Emerging Trends
Pay attention to changes you notice in your business and your markets.
Try to spot trends you can turn into new sales opportunities -- before
your competitors. The first company to identify an emerging trend and take
action often becomes the market leader in their industry.
For example, many small businesses took advantage of the Internet early
in its development. They used it to attract new customers they weren't
reaching off-line and to capture customers from competitors who didn't yet
recognize the business potential of a web site.
Tip: Don't make sudden major changes in your business to exploit
a new emerging trend. Instead, add something to your business to
accommodate it. You don't want to alienate customers who aren't ready to
adapt to the new trend.
Start using these 3 marketing strategies to create permanent growth for
your business. Use them repeatedly to continue adding new layers of
permanent income without inviting competition.
Bob Leduc is a Sales Consultant with 30 years experience in
generating low-cost leads. He recently wrote a manual for small business owners,
"How to Build Your Small Business Fast With Simple Postcards", and several other
publications to help small businesses grow and prosper. For more info:
mailto:BobLeduc@aol.com?subject=Postcards
Phone: 702-658-1707 After 10 AM Pacific Time/Las Vegas, NV
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