Please concentrate on your P's for progress
After developing your marketing strategy, there are seven Pís to evaluate and reevaluate your business activities. The seven are: product, price, promotion, place, packaging, positioning, and people. Products, markets, customers, and needs change rapidly. You must continually revisit these seven Pís to make sure you are on track and achieving the maximum results possible in todayís market.
Develop the habit of looking at your product as though you were an outside marketing consultant brought in to help your company decide whether or not it is the right business at this time. Ask critical questions - Are your current products appropriate and suitable for the market and the customers of today?
The second P - price. Develop the habit of continually examining and reexamining the prices of the products and services you sell to make sure they are still appropriate to the realities of the current market. Sometimes you need to lower your prices. At other times, it may be appropriate to raise your prices. Many companies have found that the profitability of certain products or services does not justify the amount of effort and resources that go into producing them. By raising your prices, you may lose a percentage of your customers, but the remaining percentage generates a greater profit on every sale. Could this be appropriate for you?
The third P is promotion. Promotion includes all the ways you tell your customers about your services. Small changes in the way you promote and sell your products can lead to dramatic changes in results. Experienced copywriters can sometimes increase the response rate from advertising by 500% by simply changing the headline on the advertisement.
The fourth P in your marketing mix is place where your product is actually sold. Develop the habit of reviewing and reflecting upon the exact location where the customer meets the salesperson. Sometimes a change in place can lead to a rapid increase in sales.
The fifth element in your marketing mix is packaging. Develop the habit of standing
back and looking at every visual element in your packaging through the eyes of a critical prospect. Remember, people form their first impression about you within 30 seconds. Small improvements in the packaging of your product can lead to a completely different response from customers.
The next P is positioning. Develop the habit of thinking continually about how you are positioned in the hearts and minds of your customers. How do people think about you and talk about you when you are not present? What positioning do you have in your market? What specific words do people use when they describe you and your offerings to others?
The final P is people. Develop the habit of thinking in terms of the people inside and outside your business who are responsible for every element of your sales and marketing strategy. Your ability to select, recruit, hire, and retain the proper people with the skills and abilities to do the job you need to have done is more important than everything else put together.
Finally, position yourself in everything you say and do as the most credible and believable supplier of your product and service to your ideal customer.
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Turbo's "5 Steps to Turbo Charge Your Sales" increases the effectiveness of every person in your organization who touches the customer. You develop a strategic process for ensuring that everyone is on purpose, leveraging all sales opportunities.
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