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cokecowboy69
Joined: Jan 09, 2008
# Posts: 9
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Posted: 01/10/2008 08:09 am
I have seen a few people asking to learn about marketing, and I would hope to provide some assistance here at a very basic level in the area of TARGET MARKETING.
This is where you target the audience who will most likely buy your product or service. The key is to learn about your own business and the relevant chain involved in the people process.
Example. I was a consultant to a pharmacy owner. He wanted to improve his sales. Obviously his market were sick and injured people. But I showed him a few extra things.
In Australia, most medications are through prescriptions from doctors. Therefore, doctors feed his business with money making scripts. The result, I helped him build a medical centre that held all of the doctors and his pharmacy. This doubled his business sales to about $15 million a year.
One of the other targets was individual people. A competition pharmacy is targeting pregnant women, hoping to make lifelong relationships with that customer.
But I told my client to target grandmothers. Why? Grandmothers were older, had a husband(both usually had health complaints). In addition to that, the grandmothers would care for the grandchildren so the parents could work or go out. What you ended up with was one grandmother who sometimes would come and buy medication for herself, her husband, her children and her grandchildren. Basically by securing one customer, he was getting 5 to 10 times the average business. We targeted a few community groups and the sales leap was amazing.
Always remember to look at your customers. Who will buy and who wont? And why they are buying. Work out where you are in the chain? Are you like the pharmacist, or are you like the doctor? Build up alliances with mutually beneficial groups.
If you sell pregnancy products, you could offer your original content articles to pregnancy sites for free if they allow your links to be shown within the article.
The money machine is a truly huge monster. Once you work out how you fit in the machine, you can start to benefit from it.
Good luck to everyone.
Rob
P.S. As a really simple idea, you may consider going to your local weekend markets. Paying the $20 fee and set up a simple stall that does nothing more than show billboards of your online business, and printed flyers and business cards linking your website. My local market gets 3,000 customers and costs $17, which works out to half a cent per person. Offer a 20% discount to everyone who buys from your site, that way you can gauge its effectiveness. And ask them to tell their friends about your website. You dont need to spend thousands of dollars on advertising. You just need to think.
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needtoknow
Joined: Apr 06, 2008
# Posts: 10
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Posted: 04/07/2008 10:15 pm
These are excellent ideas here Rob. These are very simple and inexpensive especially the suggestion to setup a stall at the flea market. Marketing the business is critical and when money is short, one definitely has to get wildly creative.
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