The other day, I read a fantastic article on pricing your services and products. This article was written for women entrepreneurs, but I saw how it could be applied by any kind of entrepreneur, business or non profits. It made me think about all the steps in sales strategy. The first step of course is making sure you have a price figured out for your business, but how do you know if you are charging the right price. For non-profits, how much should you be asking for when asking for a donation?
Getting to a good place with the first step (pricing) of your sales strategy starts with knowing what you are trying to earn and/or how much you want to raise either monthly or annually. Figuring out this simple goal can help you create a very targeted and strategic sales plan....
I consistently get asked what is the 1 most important marketing activity to do. People ask "what is that 1 thing I need to do in order to get customers?"
My answer usually is that there isn't. There is no 1 thing you can do to gain customers or more sales. People are complex human beings. We like to receive and absorb information differently depending on the time of day, season and how we are feeling on any given day.
Yesterday, I read a report by MarketingProfs, a leading marketing research, and management company. One of many organizations dedicated to studying and reporting on marketing and communications findings.
The report they published showed what major marketing departments across the U.S. are utilizing and spending their money on to get their message across to their target markets...
What exactly is a marketing strategy? It can be confusing, I know. I've heard it used to describe a whole host of things that aren't actually a marketing strategy. I don't want you to be confused anymore. In understanding what marketing strategy is, you will start to gain an understanding of why having a marketing strategy is important and why it is THE single most important thing you can do to create a rock solid marketing plan. I'll let you in early on why it is vital for you to have one. Then, you can dive into the rest of the article for examples and further clarification.
Without a strategy in place, your marketing plan doesn't really have legs. The plan gets its strength from strategy. You create marketing activities and objectives that are measurable based on the strategy you choose to pursue.
Common descriptions given about marketing strategy include some variation of the following:
1. Many people think the marketing plan is the marketing strategy. 2. Some people confuse marketing strategy with marketing goals and objectives. 3. Many others see marketing strategy as the action plan or the steps to get to where you want your organization or business to be. If you think any of these three describe a marketing strategy, then I'm sorry to say that none of these are. But, I am going to define, describe and explain what one is so that you can create a strong marketing strategy for your organization....
I've been working in and teaching marketing now for over 18 years. I have practiced and preached all forms of marketing methods, processes, strategies and plans.
I'm knowledgeable when it comes to textbook definitions of branding, marketing, promotions, and sales. I have also gained a tremendous amount of experience and discovered some amazing insights as I've applied, taught, tweaked, and finally created my own method for marketing. Through it all, I discovered something so extraordinary, it blew my mind and it humbled me. I've learned what marketing really is and I've learned, unequivocally, what marketing is not.
It comes down to a fundamental human skill. One we use every day and every waking moment of our lives. Let me start off by telling you that, we all have the capacity to be marketing masters and that is why I want to share what I've discovered. This is my most important marketing advice ever. I hope you take a minute to read it, take it in and if compelled, share it with others. I want this to spread wide and far...
I am a huge advocate for reviewing your marketing plan and tactics every few months. At the very least, you should review it every 6 months. The end of July is right around the corner which is a perfect time to closely inspect all of your marketing to determine what is working and not working with your marketing.
Here is where most of my clients get stumped. They know the concept of reviewing, but they don't know what information they need to really look at to make decisions like, whether to spend more money on something, or to stop doing it all together.
I want to help make it simple....