Have you ever noticed how some companies oversimplify marketing? These are the enterprises that see marketing merely as a support role for sales and not a sales-driven, lead-generating, business development tool that increases revenue, grows market share and positions the company as the market’s only choice.
Instead of using everything marketing has to offer, these companies simply go day-to-day wondering aloud why their competition continually beats them to the punch.
If you are one of those companies that thinks marketing is nothing more than an advertisement here and there, or that its reach is limited to new catalogs and brochures, then this is a must read.
Far too many companies have a fundamental lack of understanding and appreciation for what marketing is, what it can accomplish and how it should be used. These are the companies that continually lose out to their competitors, ones who have an aggressive marketing strategy that positions them in front of customers.
In essence, marketing is everything you have ever wanted your customers to appreciate about your enterprise wrapped up into one clear, succinct and easily-interpreted message.
Marketing helps you outline your strengths in engineering and design. It helps you define your unique value proposition. It helps you clarify your position in the market and it answers that all-important question about why customers should buy from you. So, what is it that these companies do that allows them to dominate their market?
Market Intelligence Gathering Strategy
The strongest enterprises have a market data tracking strategy that continually feeds them with information on pricing, competitive bids, competitor strengths and weaknesses, customer preferences, and emerging market trends.
These companies rely upon vendors, strategic partners, customers, industry stalwarts and market influences for their information. They track market data on a daily, weekly and monthly basis, constantly cross-referencing information in order to gain the upper hand.
The back-end rebate plan is ideal for gathering timely market data: Sample Back-End Rebate Excel Sheet for Customer Retention
Complete Marketing Solution
Companies that dominate their competition are ones who take full advantage of the marketing pie. It’s not just about advertising. It’s much more than that. It’s about having a strategy to market that maximizes the company’s pricing strategies.
It’s about having excellent after-sales service and support and being proactive in customer service as opposed to merely reacting after the fact. It’s about constantly feeding sales and marketing with timely market data and using that data to win business.
Finally, it’s about using public relations and press releases to continually keep customers up-to-date on all things company-related.
Are you aware of the seven ways marketing can generate sales?
Having Feet on the Ground
Ultimately, it’s all about having feet on the ground. These companies make sure their salespeople are constantly building new relationships. They are customer-focused by being customer-centric: They visit their customers and maintain a market presence where the information they gather is constantly updated and refreshed.
Forget everything you read about not needing to visit customers in today’s business-to-business (B2B) marketplace. Nothing is more impressive for a customer than you taking the time to see them face-to-face. It typically means the difference between business won or lost.
So, when asking yourself why some companies just seem to be one-step ahead of yours, take the time to think about how they do what they do. More often than not, they have a strategy to reach their target audience that takes full advantage of everything marketing has to offer.
Either you challenge them and get in the game, or you stay on the sidelines and wonder why you can’t compete.
If you want to read about how to align your sales, customer service and marketing strategies together, then please read: Your Customer Service Strategy Must Start with Marketing & Sales
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