Anyone with experience with startup companies or business and have experience in sales or marketing knows how hard it can be to engage those first 100 customers and switch them to clients. Such as this step can take a great deal of groundwork and preparation, not to mention money and sweat, to locate and capture them. If those first 100 customers are not engaged or collected quickly, business failure is a distinct possibility
So we need to know what the strategy should follow in order to achieve the goal for growing up our business.
Digital Media: Considering that the first websites are nearly 20 years old, it's odd to refer to many of these media as "new." Some marketers prefer to call these options "digital media." There's a lot of excitement about new media, since consumers are spending a lot of time online, and the media are relatively inexpensive to produce. However, doing new media properly often requires a large investment of time, talent, even money. I'll introduce the most popular forms here, and will discuss social media more next week
Word-of-mouth communication: word-of-mouth communication (WOM) has a significant effect on consumer purchasing behavior. Evidence indicates that WOM is often related to consumers’ satisfaction or dissatisfaction with previous purchasing experiences (Wilson and Peterson, 1989). Consumers also appear to engage in WOM to satisfy their personal information needs (Pincus and Waters, 1977).
Know who your competitors are: This sounds basic, but it's a mistake many business owners and salespeople make. Find out who your competitors are, what they are offering and what their unique selling point (USP) is. This will identify the areas you need to compete in. You need to know who all your competitors are--not just the obvious ones, but the ones flying under the radar as well.
Differentiate your services or products in the market place: It's essential to give your customers good reasons to come to you rather than a rival. Your USP should tap into what customers want and it should be clear and obvious - no-one should have to ask what makes you different
Look to the future: Businesses that plan for growth are more successful than those that are happy to stay still. Keep up with developments in your sector, follow consumer trends, invest in new technology and - crucially - have a clear idea of where you want to be in one, three and five years' time.
So we need to know what the strategy should follow in order to achieve the goal for growing up our business.
Digital Media: Considering that the first websites are nearly 20 years old, it's odd to refer to many of these media as "new." Some marketers prefer to call these options "digital media." There's a lot of excitement about new media, since consumers are spending a lot of time online, and the media are relatively inexpensive to produce. However, doing new media properly often requires a large investment of time, talent, even money. I'll introduce the most popular forms here, and will discuss social media more next week
- Websites: A website can serve as promotion, place and even product. (Consider http://www.uaemd.net)
- Search Engine Optimization: This is an ongoing practice to make your website more easily found and highly ranked by Google and other search engines
- Search Engine Marketing: You can also buy ads on search engines, which usually appear at the top and down the right hand side of search results. These ads are also based on keywords. Marketers usually pay per click (PPC) for these ads
- Videos: Videos will soon be as popular as photos on the Internet. They're more effective than banner ads in attracting attention and getting people to spend more time (what marketers refer to as "engagement").
- Social Networks: You're probably familiar with social networking sites like Facebook, LinkedIn and Twitter, whose primary purpose is to help people build relationships with each other. Marketers can buy different forms of advertising on these sites
- Mobile: Marketing on smartphones is perhaps the fastest growing promotional category, since there are many more phones in use than computers, and people take their phones with them everywhere
Know who your competitors are: This sounds basic, but it's a mistake many business owners and salespeople make. Find out who your competitors are, what they are offering and what their unique selling point (USP) is. This will identify the areas you need to compete in. You need to know who all your competitors are--not just the obvious ones, but the ones flying under the radar as well.
Differentiate your services or products in the market place: It's essential to give your customers good reasons to come to you rather than a rival. Your USP should tap into what customers want and it should be clear and obvious - no-one should have to ask what makes you different
Look to the future: Businesses that plan for growth are more successful than those that are happy to stay still. Keep up with developments in your sector, follow consumer trends, invest in new technology and - crucially - have a clear idea of where you want to be in one, three and five years' time.
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