It's January. Businesses all around me are looking for that pearl of wisdom to help them survive 2009. This business climate is not for the weak. It is a time of shake out. I believe, however, that there will be some survivors and even some that thrive.
Last month, Brad Sugars posted "5 Ways to Kill a Great Marketing Plan" on Entrepreneur.com. It's a sad fact that most businesses operate without a marketing plan, so killing it isn't the first thing to worry about. Those that have one fail to update it frequently enough. This is the year to spend a few minutes each month reviewing the plan and identifying changes and opportunities.
Service will be the key to surviving the next few years. So ask yourself this question: are you taking care of your customer? Are you providing what they really want? If not, now is the time to fix that. And if you don't know, you better get started finding out.
Did you know that your customer isn't really buying what your selling. They are really buying the emotional benefit that your product or service represents. If you don't fully understand your customer on that emotional level, it's worth spending some time getting up to speed on that buying decision.
Over the next few months and years, money spent on research will be more meaningful than ever before. The business that understands their marketplace will survive. The business that embraces the difference between selling features and delivering benefits is the one that will thrive.
Too many businesses devote all their marketing budget to advertising. This is the year to spend money learning about your target audience, what their needs are and how you can fill those needs effectively. When you've done that, writing the marketing plan will be a breeze!
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