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Business Posted by on July 5, 2020

Marketing Strategies That Work

Marketing strategy that works

Nowadays, everyone wants marketing strategies that actually work as there is a great deal of competition for prospective business customers, it is more robust than ever for a small business to break through and get recognized.

When you have only just started your own business, you will need a lot to learn, not only about what you are going to do but about some rare marketing strategy that will improve your bottom-line.

There is no one whom you can count on making the right decisions but YOU. These four rare strategies have worked for some business, and it could work for you if properly applied.

BIRDS OF A FEATHER

During the course of instituting strategies policies that will enhance the growth of your small business, you will need to network with other companies who operate like you but aren’t your direct competitors.

It is one of the most valuable, stimulating, creative, and exciting things you can do.
Even better is the opportunity to visit other facilities similar to yours and see what different people have used as a business model.

Marketing strategies that actually work

It is an opportunity for both parties to learn from their mutual strengths and weaknesses.
They will also benefit from their successes and their failures.

An ice cream company was progressing in its business even during the economic downturns, a distributorship merchandise company was going through financial problems.

So I propose to the distributorship business to visit the Ice-cream Company to understand their strategies.

The two companies are both in distribution and sales, but they are in different markets.

They spend two days together reviewing their facilities, talking about their operations, and generally brainstorming about what is working and not working for each of them.

It’s impressive that a group of business holders can come together, share their very best ideas, and everyone goes home with new excitement for their business.
The ideas garnered improved the bottom line of the Merchandise distributorship company.

 

marketing strategy

AUTONOMY – INSTITUTE AN ELEMENT OF TRUST TO THE EMPLOYEES.

Many entrepreneurs are responsible for attempting to build “I am in charge attitude “throughout the organisation by micromanaging employees; controlling how the employees work, scheduling for employees, and lack of no feedback mechanism in the organisation.

The new manager for a Water Company knew he had just one year to turn around the declining performance of the Company around.

Though he instituted a new marketing strategy to enhance the sales, he noticed that the culture and working environment was lopsided, and the rate of employee turnover was alarming.

He gave each of the staff freedom to operate (within well-defined limits). The results improved the well-being and morale of the employees.

The employee turnover dropped drastically. The main reason – it is human nature, we are happier when people believe in us, trust us, and we put in our best when we have greater autonomy.

READ ALSO: 19 Lucrative Business Ideas For Students In Nigeria

GET THEM ON YOUR TURF

You know in a game of football, sometimes, home turf matters a lot to football clubs (Ask any Football coach). They endeavour to do anything at their disposal to win the football game at their home turf.

Though sometimes, this strategy may not work for some situations most marketing experts agrees that it is essential to get your customer on your turf.

Most new entrepreneurs will endeavour to hold a meeting with prospective clients at their turf; it’s okay, but in developing new customers, it’s essential to understand how power influences your efforts to convince that customer to do business with you.

Any time you’re in a customer’s place of business or on their turf, you’re at a significant disadvantage. They have the power and control to guide and direct what happens.

A better idea is to get them on neutral turf, where you can interact as equals. The ideal situation is to get them on your turf, where you can direct the action and capture their complete attention.

 

Marketing Strategies That Work

BRIBE THE SIGNIFICANT OTHER

How about ethical dirty play!

There’s nothing better than selling a prospect and working so hard to get the prospect, but it is not a bad marketing idea to include their spouse or significant other in your sales effort.
That significant other may the prospect driver, cook, PA, or anybody that can become the critical link to get your prospect to become your customer.

After all, it never hurts to have more influence with your prospect.

A Company that was undergoing re-engineering employed a new MD to steer the Company out of its financial quagmire.

The Company invited the significant other for a weekend experience at the company conference.

The significant other was the PA and the Mentor of the Company Chairman. The offer that came after this improve the bottom line significantly, and in less than three years, the Company return to profits.

Other unusual marketing strategies could work for your small business; I am guessing that this four unique marketing strategies mentioned above are excellent fits, and as I mentioned at the start of the post if these ideas are properly implemented, it could skyrocket your bottom-line before the end of the year.

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