The New Marketing ABC's (continued)
BRAND is an all encompassing term that relates to every “touch” or contact that you might have with a customer or potential customer. Your BRAND is simply to development of a feeling or attitude towards your business that any prospect or customer might hold. Your BRAND can be positive or negative and changes can only occur over time. It’s all the things about you that your customer experiences. It can be as small as a friendly greeting at your door or as subtle as complicated product instructions. Understanding your BRAND and using it to build the trust of your customers is critical to the success of your business. In the future we'll bring you inexpensive Tips you canuse to boost your brand.
COMPETITION. As you look back on the 4 P’s, one large omission is any word about competition. As you think back to the “Build It and They Will Come” marketing model, supplies were limited, purchases were local in many cases, and competition was not a major factor. Everyone had a corner store, not five convenience stores within two blocks! Well you know you have competition from all around. Do you know your competition? Sure, you know who and where they are, but do you really know them? How do you compare. What goods or services do you provide that they don’t? Do you treat your customer’s better than they treat theirs? Certainly a key to your success will be understanding your competition and being better than they are. Do you shop your competitors? How do you stack up? Remarkably, learning about your competitors costs almost nothing and can go along way in shaping you approach to the market. Future tips will include some “How To” ideas on how to develop a complete picture of your competition.
DELIVERY of your product can help build your business. Do you provide the appropriate value that your customer expects? Are you certain that there are no surprises in store for the purchasers of your product or service? How do you follow-up with your customers? Even businesses where follow-up seems unnecessary, you might give it a try. For example, I recently had some out patient surgery and a local non-hospital facility. While I didn’t think much of the experience, I got a call the day following my surgery from the surgi-center wanting to make sure I was OK and that my experience was acceptable. I was shocked to say the least. As luck would have it, my doctor asked about the facility on a follow-up visit and I voiced my appreciation for their concern and service. I’m certain he enjoys happy patients and will continue to use this center for more of his out patient work! Always keep in mind, happy customers are a great source of future business.
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