Marketing Strategy

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Marketing Strategy

Should I Develop Products Based On Themes?

By Charlie Cook | February 2, 2005

“I have a growing gift basket business and I’m trying to focus on serving the small business and service professional market. Give me a theme and I can develop a great gift basket. I did one recently for a car dealership. Should I focus on developing theme baskets to grow my business?” – Barbara in Virginia

Theme baskets are a great idea but remember the only reason your clients buy them is to solve a problem or achieve an objective. Small to mid-sized businesses like car dealerships have two concerns you can help them with. They want to build customer loyalty and motivate employees to top levels of performance. A gift such as your gift baskets is a great way to do this.

Just remember, don’t lead with how great your theme baskets are. Market to your prospects concerns about improving customer loyalty and employee performance and you’ll sell many more theme baskets. While you are at it, instead of selling individual baskets, give companies a discounted rate on a hundred when they pay in advance. Help your auto dealership give a gift to each new customer when they buy a car. They’ll build customer loyalty and you’ll both grow your businesses. – Charlie Cook

Why Don’t You Discount Your Manuals? or Why You Should Sell Value?

By Charlie Cook | January 12, 2005

Its true that you can find others who regularly offer large discounts on their manuals, especially when business is slow. I don’t do this for a number of reasons.

1. The manuals are worth full price, yesterday, today and tomorrow. Past customers certainly thought so and after they’ve paid full price I doubt they’d be happy to discover the item they paid $129 for is now selling for much less. Each year I update the manuals and rather than discounting them I usually raise the price while providing past customers with free upgrades. Overtime they become worth more not less.

2. You’ll find some marketers offering thousands of dollars of bonuses to motivate people to buy their products, in some cases the manuals they are trying to sell only cost $20-50 dollars. I don”t do this either.

You have to wonder too, if the bonuses are really worth hundreds or thousands of dollars why they are giving them away free. Usually the answer is that no one would pay full price for them. If a product isn’t worth buying on its own merit, its rarely worth buying. My suggestion is approach these offers with caution.

3. You are better off providing and marketing high value products and services. If you have a top notch product or service it should generate results that vastly outweigh the cost. Help prospects understand the value inherent in your products and services and you won’t have to resort to essentially begging people to buy your product by bribing them with additional offers.

– Charlie Cook

Do Auto Dealerships Outsource Their Marketing?

By Charlie Cook | January 12, 2005

“Do you know if any car dealerships outsource their marketing, promotions, and advertising? I am writing a business plan for my Marketing Management class and have chosen to research if a marketing/Promo agency that targets dealerships would be successful.” – Jared Brandon

Great question. Pick up the phone and call 20 dealerships, ask for the VP responsible for marketing, explain that you are a student doing a research project, promise to share the results with them. Then ask them a couple of questions about outsourcing. Tabulate the results, write your report and send it to everyone you want to impress in the auto industry. You’ll help them and in the process position yourself as an expert. – Charlie Cook

How Much to Spend On Marketing?

By Charlie Cook | January 3, 2005

“What percent of my budget should I spend in advertising and marketing my business?”
John
CallFinalPick

The percent of your budget you spend on marketing will vary depend on a number of variables. If you’ve just started your business, plan on spending 20-30% of your net revenues on marketing. Some new firms spend even more, 50-70% in an effort to build up their customer base. If your revenue target for your first or second year in business is $200,000 you should plan on spending between $40,000 to $60,000 on marketing.

If you’ve been in business for a number of years and already have an existing client base and want to keep growing you’ll need to spend 1-15% of your net revenues on marketing. Let’s say you’ve been in business for ten years and want to earn $300,000 in 2005, depending on your business you should plan on spending from $3,000 to $45,000 dollars on marketing. – Charlie Cook

New Year’s Marketing Resolutions

By Charlie Cook | December 29, 2004

2004 was my first full year in business (started 04/2003) and I ended up with a total of $223,000 of commission income for my insurance agency. In 2005 my goal is to double that income through more aggressive marketing, website marketing, my referral reward program and using my autoresponder better.

Tom Larsen

Larsen & Associates Insurance Agency Inc.

www.anarmoragent.com

To keep a postive focus.

L. VanPopering

www.rogueriver.com

My first resolution will be: ‘As part of my six-monthly business plan review to re-define my marketing strategies and set specific marketing targets.

David Moffitt

Managing Director

www.transformlighting.co.uk

To build my financial services clientele big enough so that I can do that full time.

Casey Ditmore

To overcome objection, ask for the sale and increase sales for my business.

Nikki Morrile

http://www.iabweb.com/yourchoiceforhealth

Your newsletter hit a particular chord with me as I have been feeling overwhelmed by all there is to do. As you suggested in your article I have chosen one focal point only for the next week or so. This is to run a survey of potential product ideas, so that I can choose a product to develop.

Janice

www.weight-loss-motivation-program.com

More contacts from persons who visit my site.

Paul Hegele

What do you think of BNI?

By Charlie Cook | December 20, 2004

“What do you think of BNI?” – Coki Cochran

I’ve never been a member of Business Networking International though I’ve seriously considered it. I do know people who are members and generate lots of new leads and business from their involvement. There are lots of online and offline networking groups to choose from. You can review with the Business Networking Guide

on my site.

To take full advantage of BNI and other networking resources take a look at Creating Opportunity with Next Step Networking. – Charlie Cook

I Don’t Know How To Market My Plug In Profit Site, What Do I Do?

By Charlie Cook | December 15, 2004

“I pay $24.95 a month for a plug in profit site with 5 affiliate streams. Each time I can get an affiliate to sign up I will make money from their sales. The site was site up for me but I have no idea how to market it.” – Joseph Hinkle, Locksmith

My advice, don’t market the site. Dump it. These programs are scams and I have yet to hear of anyone other than the person you are paying your monthly fee to making any money. Not to mention marketing something you don’t know anything about is rarely effective.

You’ll be much more effective marketing something you know. As a locksmith you already have a valueable expertise. You can leverage this expertise to grow your locksmithing business. The two marketing manuals which I wrote to help you include The 15 Second Marketing Guide and Earning More by Marketing Smarter. – Charlie

Do You Ever Update Your Free Marketing Plan Guide?

By Charlie Cook | December 14, 2004

I’m always working to update and improve each and every marketing manual I provide, free and otherwise. I just did a complete update to the free marketing plan guide to make it even more useful.

To get the latest version just sign up for the Free Marketing Plan Guide and let me know how you like it. – Charlie

Your Marketing Blog Looks Great!

By Charlie Cook | December 14, 2004

“I think your blog looks absolutely great! There’s an interesting cross pollination that can go on between ezine and blog and you’ve got a good think going on. Questions work well…

I’m reformatting my primary site How Much Joy to sell much bigger and getting a lot of inspiration from the layout of your site, so I hope that is OK and I thank you muchly.” – Suzanne Falter Barns

Thanks, Suzanne. Of course it was your comment that prompted my new marketing blog. And, yes since I added the blog to my site, traffic has jumped another 10%. – Charlie

Marketing Strategies Work for Real Estate?

By Charlie Cook | December 11, 2004

“My husband and I have a commercial real estate appraisal business here in California. We had a great year last year and want to double our revenue in 2005. How can you help us given that you’re not familiar with the appraisal industry?” – A.M. Fischman

A- Imagine you were planning a trip up the coast to Oregon but your car needed a tune up. Would the mechanic need to know your route before he could fix your car?

Of course not. His or her job is to make sure your vehicle gets you where you want to go. The same is true for your marketing plan and marketing strategy. My role as a marketing coach is to help small business owners like you take your businesses where you want to go whether its in the appraisal, web design, accounting or investment management industry. – Charlie Cook

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