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Four Deadly Marketing Sins - And How You Can Thrive In Any Economy

Oct 15, 2007
In a sea of marketing books and experts, there are certain sins that nine out of every ten business owners continues to make. The most amazing part of it all, is that they are convinced that their marketing is great. They expect their phones to be ringing off the hook. Fat chance.

Time for a serious reality check.

Deadly Marketing Sin #1 - Not standing out from your competition. You need a USP. That stands for Unique Selling Proposition. Your USP sets you apart from all the rest. It answers the universal question "Why Should I Buy From YOU?". Why are you special? What makes you special?

How do you go about finding your USP? What makes you different from all the others that are competing for your customers. The more competitive the industry, the more important it is to emphasize your difference. Think about the kinds of people you cater to. Do you have a money back guarantee? Do you offer bonuses? Do you offer support? How is your product produced? An example was Budweiser Beer company. They used the fact that they used natural spring water to create their beer. Of course every other company was doing the same, but nobody was emphasizing that fact. It made them stand out. Just about anything can be part of your USP. List everything about your business. How the product is produced. How the service is done. How it is delivered. And then combine the most relevant ones to crate your own USP. While others may be able to offer one or two of the same things you do, nobody else will be able to offer the same exact combination that you do. Find that combination.

If you can't find a USP, then look for unresolved issues and problems in your industry. Then become an expert in providing that solution. A good example of that is FEDEX. Their USP is "When you absolutely, positively need it overnight. Guaranteeed." They are no longer the only company doing this, but they are the first to offer it, so they are stuck in people's minds for that.

Deadly Marketing Sin #2 - Assuming you know about your customers. Just because you think you know about your business, doesn't mean that you know your customers the same way. I can count on one hand the businesses I came in contact with that failed to educate their customers on how they can solve their problems. That is very important. Why? Because if your customers don't know how you can solve their problems, then why should they buy from you. Customers buy solutions to their problems, not products or services. I know this may go against everything that you've learned, but it is the truth. There are tons of products and services out there that they can choose from. All they want is a solution to their problem. If you are able to give them the quickest and best solution, then you'll be the winner. That's why it is important that you tell them how it works, why it works, and be consistent. Keep in touch with your customers after they have purchased, so that you can get constant feedback. On top of that, you have an excuse to market new items to them as well.

Deadly Marketing Sin #3 - Flushing money down the drain on marketing strategies that do not work. Which of your marketing efforts result in new business? Do you have any idea? Do you ever calculate the money, effort and time it takes to acquire a new customer for each marketing strategy you use? If it is working, you want to use it more often. But better than that, why not continue to market to the customers that have already bought from you. There is a 50% more chance that they will buy again, because they know you, and have bought valuable products from you before. Focus on building a lifetime customer, so that you are not just making one sale and then having to acquire another customer. Instead, create a situation where that same customer buys from you over and over again.

Deadly Marketing Sin #4 Not Using Repeat Business. Back end sales are a life saver in many businesses. The fact is that many businesses may lose out on the front end sale. If they only depended on the front end sale, they could find themselves in hot water or just break even. But by offering back end sales and cross end sales, you can triple or quadruple your bottom line. Do you have a plan for generating repeat business. The biggest cost in business is marketing to acquire new customers. And while you still want to constantly acquire new customers, you want to milk as much as you can from the current customers you have already. You can offer them complimentary products that go right along with the products and services that they are already buying from you. The best way to find out what it is that you could use as a back end sale and a cross sale is to ask your current customers what it is they would like to see different, adjusted, or what kinds of problems they are dealing with on a regular basis. Take McDonald's for example, they SuperSized their fries and burgers. Now it's time to SuperSize your business as well.

When businesses talk about a weak economy or a bad economy it's really not true. There are time tested marketing methods that you can use in any economy to build a steady stream of income. There is no such thing as a shortage of business. And that is the bottom line.
About the Author
Dr. Enigma Valdez, C.H., is a direct response marketing expert as well as an internet genius and visionary dedicated to helping businesses and individuals succeed. Visit Http://www.Enigma-Valdez.com
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