
It takes more than salespeople to assure your long-term success.
You have started a new company. Now how are you going write a business plan to get customers to open their wallets and spend their money on what you have to sell?
If your answer to that question was, "I'll hire a sales staff" or, "I'll start advertising," you are thinking like most entrepreneurs. Those are good ideas, because you need to start triggering buying behavior among your target consumers.
However, you need something else too. You need strategic marketing, because selling or advertising alone will not assure your success in the long run.
Only yesterday, I was reading an excellent article, "Assessing the sales/marketing divide: Delivering the right collateral, controlling the process and measuring the sales impact" by Christopher Hosfordon B2B.
Hosford's article makes it clear that a marketing strategy is not just a long-term plan. It provides benefits that have an immediate impact on cash flow:
Sodon't think "marketing" only when your sales start to slump after your initial market penetration has taken place. Develop a marketing plan right from the beginning.
Where is your revenue going to come from not next week, or next month - but in two or three years? Marketing is the tool that answers those questions. To make sure your skills are state-of-the-art, enroll in our course, The Marketing Mastery Program.
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13 Comments
I'm sure his new book will help in understanding the competive market of Real Estate.
Generally saying, it is essential. Running a long term business makes the owners facing with different challenges. Having a good marketing strategy, makes the challenges easier to control, thus controlling the challenges for a long time it indicates that you are a sustainable entrepreneur. Only marketing strategy can do it. The USA is a country that is considered a very succesful place for marketing development.
I used to work for an instrumentation company many years ago, and the Marketing Director told me something that he learned at University and then confirmed through real world experience; "Half of the money spent on Marketing is wasted, the trouble is you don't know which half."
I recall Mr Trump saying in one of the episodes of The Apprentice "You hire smart people, then you *listen* to them".
I used to work for a telecommunications company that went belly-up after 17 years in business, precisely because they refused to listen to the smart people they hired.
I am now working for another technology company and for the past five years they have refused to listen to many smart people, just my luck :(
I have tried to tell one of the major millionaire investors about the problems, I was scared and thought I'd get fired, but I nevertheless boldly met with him and told him what other smart people who are too shy to approach him and he effectively said to me; don't come to me with anecdotal evidence, document the situations and find solutions.
The trouble is management had removed the measurement equipment to allow people to quantify the anecdotal evidence and turn it into solid data.
I didn't get fired, but I felt that my job was no longer secure.
I have done management subjects myself at University and I was surprised that educated managers ignored similar teachings, and did the exact opposite because they failed to connect what they'd been taught with the company's real world problems.
Instead they implement band-aid solutions that fail to address the real problems that are still festering, and are becoming more expensive to fix the longer they are ignored due to a lack of leadership.
I hope one day to start my own business, and I want to learn from the mistakes of both of the companies I have or have had direct personal contact with.
I wholeheartedly endorse from my University learning and real world experiences Mr Trump's business philosophy.