|
Article 9: Lack Of Marketing
People who devise better mousetraps are experts
at mousetrap making, mouse catching, even
mechanical engineering. But marketing? It’s not
exactly their strong suit.
To say marketing is often an afterthought may
still rank it too high among many entrepreneurs’
priorities.
The marketplace is littered with better
mousetraps that never got off the shelf. The
inability to market products and services may be
the single most relevant explanation for why
good ideas go bad.
If you don’t understand marketing, learn. If you
don’t have the time or inclination to learn,
hire an expert to handle it for you. Marketing
is a cornerstone of your business. The better
your marketing, the stronger your business.
For entrepreneurs lacking marketing savvy,
here’s a crash course:
“What’s in it for me?” is the overriding
buyer’s question. Your marketing must answer
it first, and persuasively.
Know what your market wants. Then tell them
you’ve got it and can provide it better,
faster, more satisfyingly, more affordably or
more reliably than anyone else.
Talk about customers, not yourself.
Credentials and accolades impress mom, but
customers don’t care about your
accomplishments. They want to know what you
can do for them.
Sell what they want to buy, not what you want
to sell. Trying to persuade a buyer that he
wants what you sell, and then trying to
persuade him to buy it is a two-step process.
Find out what he wants to buy, then all you
have to do is persuade him to buy yours—a
one-step process. It’s much easier, less
expensive and more profitable.
Don’t spend inordinate time marketing to
fringes. Identify your best customers and zero
in on them. Peripheral sales to the marginally
interested are expensive to get and won’t
finance your retirement.
Be mindful that the most expensive marketing is
that which doesn’t work. Continually reassess
marketing tactics. Discard those that cost more
than they earn, and beef up the profitable ones.
|