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Marketing For Your Needs and Wants |
| by Daniel Wadleigh |
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If
you have all the business you need (survival) and want (the degree of
prosperity you accept), then you don’t need
to do anything else right now. But, if you don’t have all you
need and want, then you have to do something to acquire it. If the
business isn’t coming to you, then you have to “go get Ôem”. This
is called direct sales. Or, if you presently have all you want but wish to
protect yourself against seasonal slow-downs and deteriorating external
conditions that reduce sales (inflation, interest rate increases, etc.),
then you should test different leads/sales techniques while the time is
ripe and to have a better collection of tools to generate sales income
when you need it. When
planning your marketing approach, it is beneficial to recognize which
portion of the two major markets that you are going after. They are
“Market Share” and “New Market Development.” Understanding which
market, or combination of markets, you are approaching will help you plan
the best strategy to implement sales in the most controlled, secure,
cost-effective manner. Market
Share (Getting a piece of the pie) This means taking it away from someone
else who may fight back, and it may get dirty. Keep a clean nose, be
patient and deliver superior value. The key is breaking the pattern of the
buying parties. People want dependability. If the existing supplier
services the account well (an attribute to keep you from being victimized
by the same techniques) you need to offer something irresistible to break
the pattern. Of course, dependability will keep them, but have a second
program/offer ready because you want to secure your position as well as
repel any attempt of Brand X to take them away from you. It’s hard
enough to get them; losing them is inexcusable! Don’t hesitate to inform
all portions of your company of this reality, and of your efforts to
maintain what you acquire. Words that deliver dependability work: Insured,
award winning, satisfaction guaranteed, references, etc. New
Market Development (You create your own controlled destiny direct sales)
This is not for the faint of heart. Your mission, should you choose to
accept it, will take you to bold new places where your competitors have
never gone. This is done through direct education of the potential
marketplace or by capturing an exclusive. Educating the potential market
means making people aware that you have something that they: 1)
need, and you are showing them a new solution to their need, or 2)
want, and it is justified (Madison Ave. is the master of this art). You
may be able to show how a new siding will give them a better looking home
and it is both justified and
made affordable by the energy savings. Or they may justify that new
kitchen or luxury item because of easier resale or higher value. Every
established market exists because credibility and acceptance of the value
has been firmly established in the minds of the market. They didn’t
magically become accepted. People want to know what is new and they want
to believe that new technology will make their lives easier; they also
want to trust that it will perform, so educate them to your new available
solutions. Capturing an exclusive is perceived as an advantage by
customers because of the lack of other choices, the idea being that
you’re special for some reason. Develop exclusively a product (usually
hard to do) or service. Educate the market showing dependability and
value. People like to be led but not taken advantage of by deceptive
practices. Concepts of problems and solutions must be used and verified.
What “irresistible” offer can you make to break habits of existing
markets? Or, how are you visible to expanding markets? Or, how do you
inform the potential market of what problem you can reduce or eliminate? Next
time ”Pick the Market” to identify your image and strengths. Daniel
Wadleigh is Marketing Director of Profit Experts of Austin, TX. Excerpts
are from “Profit Controlled Marketing,” located online at
www.appropriatemarketing.com. Profit Experts offers a turnkey Web package
for ISOs including a CD to use when selling merchant accounts. Mr.
Wadleigh can be reached at (888) 379-0659.
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