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Who are your customers • Male or female • How old • What education level • What type of work Profession • What level of income • How knowledgeable about your product or service • What factors (e.g., price, availability, service, etc.) influence this customer s purchase decisions • What other people (if any) influence the purchase decision • How would you describe your customers personality • Is there anything else unique about your customer Exercise: Think about the 20 of your customers who generate or will generate 80 of your business.. The following list of common marketing strategies may help your thinking: • Personal sales calls • New logo, letterhead package, company brochure • Direct mail • Newsletters • Print advertising (newspapers, consumer magazines, trade journals) • Media advertising (radio, television) • Trade show exhibits • Public relations (trade press, speechmaking, feature articles, community relations/community activities) • Networking • Discounts for large volume customers Don t try to implement all possible strategies at once.. For example, although a major television campaign might increase visibility for your business, can you afford the production and airtime costs Is television the most cost efficient way to target your customers 14 Develop a tactical plan for each goal: Goal I: Strategy A: Strategy B: Budget Timing: Goal II: Strategy A: 15 Strategy B: Budget Timing: Goal III: Strategy A: Strategy B: Budget Timing: 16.
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It takes more than capital to swing business. You’ve got to have the A. I. D. degree to get by — Advertising, Initiative, and Dynamics. | Ren Mulford Jr.