3 KEY MARKETING STRATEGIES TO GROW YOUR BUSINESS
copyright 2003
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
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