Every business needs good marketing in order to thrive. Still, most businesses squander precious resources on promoting the wrong products, in the wrong way, to the wrong people.
Take a few minutes to consider the following three deceptively simple questions. Let them expand your perspective on your business. The answers will reveal your venture’s essential and unique value, as well as the surprisingly large group of people who already want to buy from you (whether they know it or not).
1. What am I selling?
2. Who are my customers?
3. What benefits are my customers buying?
This question sounds naïve, but it’s surprisingly deep. For instance, if your company develops and sells a tangible product such as software or fountain pens, it seems obvious that these things are your products – right? …Well, that’s partly right.
Your true product or service goes far beyond software, fountain pens, loan processing services, or chocolate chip cookies. In fact, if such easily defined items were all had to offer, you probably wouldn’t be in business very long.
Your true product or service is: How you solve customers’ problems or expand their opportunities.
Long gone are the days when simply being a skilled craftsman (such as a blacksmith, barrel-maker, or baker) was all you needed to have a thriving business. In those days it didn’t matter if, in another village 50 miles away, someone else was running exactly the same kind of business – maybe even doing it better. Such competition posed no real threat because communication moved slowly: by word-of-mouth, or in printed materials that took considerable to produce and deliver.
Back then, if your local customers happened to learn that another baker 50 miles away produced a superior loaf of bread, they probably wouldn’t jump on a horse and ride so far away just to buy it.
Today, the competitive situation is radically different:
Consequently, it’s more important than ever to make your offerings clearly unique. Avoid marketing, which implies that you’re selling a commodity. Customers can buy commodities from any number of sources – so the only way to compete is by price.
Ultimately, the point of marketing is not to describe your product or service. Mere descriptions apply to… read more
Source : Originally published on company of women club