Effective Strategic Sales and Marketing Strategies for Small Business Owners and Entrepreneurs
7 Proven Marketing Strategies
7 Proven Marketing Strategies to stimulate new clients, increase business from those already on board, and build repeat sales and subsequent business.
1. Formalized Process to Reward Frequent Buyers: Strategy to capture repeat business from clients you already do business with. Marketing needs a ‘Call to Action’ (ex: Expiry date, limited offer) and have points accumulated and redeemed within a set time frame.
2. Discounting Caution – if done too often, it can lose the effectiveness almost completely. If you are going to discount, have a ‘reason’ for doing so or risk the possibility of creating an impression that you usually overcharge. Suggested reasons could be: Inventory is overstocked, just imported a large amount of product, your anniversary, a holiday, introductory offer for new customers, an offer on a new product or service.
3. Premiums, essentially say ‘buy this XXX and get this free”. A recent trend is the use of enticing premiums, such as free colour VCR, DVD, TV, Air conditioning, attached to business services, with the purchase of a certain amount of supplies. Your customer can spend tax deductible dollars for supplies and receive free and tax free a gift they will be able to use in their home (TV/DVD etc). This will require a certain amount of education.
4. Packaging or bundling of products or services together. Used to increase the average purchase size in a business.
5. Prepay agreements, (gyms are legendary for this – to the point where you just expect it). Can be used in many different industries and even presents a potential opportunity for the small business owner to create ‘operating capital”- by collecting in advance for business. Sell memberships to Fitness Club before it opens.
6. The acceptance of credit cards: Every business should accept Master Card, Visa, Am Express, Diners Club and any Card clients might be using. The basic premise being — make it easy to have the customer to do business with you!
7. Regular mailings to past, present and prospective clients. Monthly Newsletters like this one. Keeping in touch is important on many fronts;
A Creates habit – your customers expect and develop the habit of reading it.
B You are in their consciousness ‘Out of Sight – Out of Mind’.
C Pass along useful information and ideas.
D You demonstrate your expertise (create positioning!) in your field.
E Will stimulate ‘word of mouth’ advertising for your company
F Effectively you are advertising in your company publication.
G All leaders in their industry put out newsletters on a regular basis
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