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3 Key Marketing Strategies
to Grow Your Business
by Bob Leduc
Apr. 27, 2002
Each of these 3 marketing strategies
creates permanent growth for your business -- and obstacles for
your competition. You can use them repeatedly to add new layers
of income to your business.
1. SET UP JOINT PROMOTIONS
Identify the characteristics
and activities of your most
profitable customers. Look for other non-competing
businesses already reaching them. Then devise a way to set up
some joint promotions. This proven strategy produces dramatic
results -- for very little expense.
For example, I once saw a clever
joint promotion by a
health club and a gourmet restaurant. Both catered to young professionals
and business executives in the same town.
The restaurant's menu included
several special dishes
recommended by the health club's nutritionist. It also
distributed discount membership coupons for the club. Even their
advertising mentioned the affiliation -- to attract health conscious
customers who often avoid food prepared in gourmet restaurants.
The health club's monthly newsletters
included a reprint of the restaurant's healthy new menu items
recommended by the club's nutritionist. They also distributed
the restaurant's discount coupons to their members.
2. UNCOVER NEW NICHE MARKETS
Continually look for new niche
markets you can serve. Then develop customized versions of your
advertising appealing to the special concerns of prospects in
each niche. Offer specific solutions to their unique needs and
you'll uncover new groups of customers eager to buy from you.
For example, I recently bought
a new computer system for my business from a company because
they catered to my specific needs. An ad in a business publication
listed their special web site for small businesses customers.
There I was able to order the exact configuration of hardware
and software I wanted at the price I was ready to pay. They won
the sale by catering to my niche.
TIP: One way to find a new
niche market is to evaluate your existing customers. Look for
groups of customers with similar characteristics you don't currently
cater to in your advertising. Then create new versions of your
advertising appealing to their specific needs. You'll
attract a lot more customers just like them.
3. EXPLOIT EMERGING TRENDS
Pay attention to changes you
notice in your business and your markets. Try to spot trends
you can turn into new sales opportunities -- before your competitors.
The first company to identify an emerging trend and take action
often becomes the market leader in their industry.
For example, many small businesses
took advantage of the Internet early in its development. They
used it to attract new customers they weren't reaching off-line
and to capture customers from competitors who didn't yet recognize
the business potential of a web site.
TIP: Don't make sudden major
changes in your business to exploit a new emerging trend. Instead,
add something to your business to accommodate it. You don't want
to alienate customers who aren't ready to adapt to the new trend.
Start using these 3 marketing
strategies to create
permanent growth for your business. Use them repeatedly to continue
adding new layers of permanent income without inviting competition.
Bob Leduc is a Sales Consultant
with 30 years experience in generating low-cost leads. He recently
wrote a manual for
small business owners, "How to Build Your Small Business
Fast With Simple Postcards", and several other publications
to help small businesses grow and prosper. For more info,
email BobLeduc@aol.com?subject=Postcards
Phone: 702-658-1707 After 10 AM Pacific Time/Las Vegas, NV
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