Marketing but No One is Buying?

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By Allison Turner Business, Marketing & Sales Consultant Have you ever heard someone say, “I have a great product or service but I can’t understand why no one is buying”? First, you ask them who their ideal client is and they say “everyone.” Uh Oh. Then you ask them how they are marketing, and they reply that they have a website. When you ask them how they get traffic to their website or how many hits they get on their website a month, they have no idea. Yikes! First of all, not everyone is your ideal client! Second, marketing is so much more than having a website, a storefront, an office or a business card. Marketing requires you to show the value in your product or service to your potential customer. Where companies often miss the boat is creating a strategy around their marketing. If you took an entry level marketing class, you may have been taught the 4 P’s of Marketing that includes Product, Price, Place and Promotion. This gives you a base starting point but is certainly not everything you need to know. Product includes not only the obvious product or service but also the branding of the website, the business card, packaging and anything else associated with it. For more information on branding, see the article published in the Pineapple in June. Determining the price is essential! What can your target market pay for your product or service? For example, the target market and therefore price structure for business consulting in the Delray Beach area is much different than the market in Chicago or New York City. Place can include the location of your store or office as well as the more intricate distribution channels for a larger company. Essentially, it is how does your customer find your product or service. And finally Promotion really incorporates how you get the word out about your product or service. This can include everything from grassroots marketing, advertising, publicity, social media, website, pay per click ads, affiliate marketing and the list goes on. So when you create your marketing strategy, you are looking at each product or service you offer and determining the plan for how to reach that potential client. At BCoSF, Inc., we often do extensive research in working with clients to determine exactly how to position a product or service and to make sure it is the right fit for the intended market. Then the next step is to determine the marketing strategy or how to reach that ideal client. Finally, you must have ways to determine the Return on your Investment (ROI). You want to know exactly how much you are spending and how much you are getting in return. As you can see, marketing is not a one size fits all and takes a lot of research and analysis to determine exactly how to not only reach but also appeal to your target market with the goal that they see the value in what you are offering. Take a minute today and walk through the 4 P’s of Marketing. While this is only a start, it gives you a foundation and a place from which to build. Allison Turner is CEO and cofounder of Business Consultants of South Florida,(BCoSF) located at 301 W Atlantic Avenue, Suite 05. She is a resident of Delray Beach as well as active member of the Greater Delray Beach Chamber of Commerce. BCoSF is passionate about helping their clients either start or grow a sustainable and profitable business through their strategic business, marketing and sales plans and consulting services. For more information visit www.BCoSF.com or call 561-276-4422.