Good marketing makes good cents
What exactly is marketing and why is it important to your business? Wikipedia, the online encyclopedia, defines marketing as “the process of creating or directing an organization to be successful in selling a product or service that people not only desire, but are willing to buy.†Here’s another definition: “Marketing is an ongoing process of planning and executing of the marketing mix (Product, Price, Place, Promotion) of products, services or ideas to create exchange between individuals and organizations.â€
S.H. Simmons, author and humorist, relates this anecdote. “If a young man tells his date she’s intelligent, looks lovely, and is a great conversationalist, he’s saying the right things to the right person and that’s marketing. If the young man tells his date how handsome, smart and successful he is - that’s advertising. If someone else tells the young woman how handsome, smart and successful her date is - that’s public relations.â€
successful marketer in his day, used to tell me that “you can’t sell air conditioners to people in Alaska during the winter.†What he was really saying is that marketing doesn’t begin with a great idea or unique product. It begins with customers those people who want or need your product and will actually buy it.
When opening a business, it is vital that you take the time at the beginning to discover who your potential customers are, and how to effectively reach them. You need a basic marketing plan - one that researches your potential customers and that devises strategies on getting your products or services to them. Some businesses forget the planning process and jump right to the glamour parts of marketing: advertising and public relations.
Another integral part of your marketing plan should focus on “customer service.†This is an advantage that a small business can have over a big chain organization. You can create the best possible products at a great price and lose the sale as soon as a customer comes through your doors. An example of this would be a clerk who is having a bad day. A customer comes through the door after seeing an advertisement for a particular product and approaches the clerk.
The customer then leaves and his (her) negative experience is communicated to at least 20 potential customers who will now go down the street to do business with a competitor of yours.
At Coast Central Credit Union, customer (member) service is one of the most important aspects of our business. I always ask my colleagues how many members we have in our Marketing Department. The answer should be everyone who works here. Every staff member has personal contact with our members (customers) and, therefore, is a part of our marketing process.
My suggestion to small business owners is to train your employees on how to make your customer’s visit a very positive one. From when that customer comes through the door to when the customer leaves with the product or service he (she) needs, you’re building a relationship that will build your business and make it successful. Remember, 80 percent of your business should come from your existing customer base.
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