Why do I need a marketing plan? As a Westchester County, NY small business owner or entrepreneur, having a marketing plan established for the upcoming year should be your number one priority.
Marketing plans aren’t just for big businesses, and unfortunately many smaller businesses don’t think they’re that important. It can be seen as something that requires deep pockets and extravagant advertising campaigns. However, marketing is so much more than just sales and advertising.
It’s crucial that every business, whether large or small, as well as entrepreneurs, develop a marketing plan that ensures they’re meeting their business needs and goals.
Your business can’t survive without a marketing plan
Marketing is dynamic, so it’s imperative that you create a new, current and relevant marketing plan in order to keep up with the ever-changing world of marketing and technology.
How important is it to include Millennials in your marketing efforts? Let’s put it this way, if you’re missing this audience, you’re losing money.
Millennials can get a bad rap for being lazy, entitled and demanding, but let’s face it, they’re also ambitious, proficient with technology and well-educated. And because of the number of Millennials out there, they’re also highly influential.
The purchasing power of Millennials is projected to increase 133% from $600 billion to $1.4 billion
What you need to know about Millennials:
The age range is from 18-35 years old, and makes up the bulk of the workforce.
They’re the first to grow up with today’s technology.
They’re a values-driven consumer that appeals to brands that stand for something.
They’re loyal to employers due to the new era of work/life balance and flexibility.
Social media is an integral part of the Millennial’s daily activity.
Now that we have some insight into the minds and activities of the Millennial generation, the next question is…
In our digital age, are business cards still important to have for your Westchester County, NY small business?
Having a business card is the most cost effective marketing tool in your arsenal. If your goal is to establish a connection and seen as a legitimate, professional business, and most importantly, be remembered, then having a business card is crucial.
72% of people judge a company by the quality of the business card.
You never know when you’ll meet someone you could possibly do business with in the future. What if your phone lost battery power, or you don’t have a pen and paper to jot down contact information? A quick an easy solution is to hand out your business card.
As a Westchester, NY small business owner, how do you handle bad reviews and make the best out of them?
You can’t please everyone, unfortunately, but you CAN make the best of a negative review.
If a business resolves its issue quickly and efficiently, 95% of unhappy customers return back to your business.
92% of consumers read online reviews, so there will always be Negative Nellies or people who like to complain. However, there are also legitimate complaints. Perhaps you did your best with a product or service you provided, and for some reason it just didn’t work out for the customer exactly the way they would’ve liked. It’s not the end of the world.
Only YOU have the power to turn a negative situation into a positive when it comes to YOUR business.
As a small business owner in Westchester, NY, how do you charge a premium for your services? What if your potential customer or client thinks you’re too expensive?
And if price is a reflection of value, how do you show your prospective customer the value in the services or products you offer?
In the words of Warren Buffet, “Price is what you pay, value is what you get.”
Simply put, value is seen as two things:
It’s a great price, when the value exceeds the cost.
It’s too expensive, when the cost surpasses the potential value.
It’s a careful balance getting the right compensation for the work you do, while getting your prospective client to agree on your pricing. You don’t want to charge too much and lose these possible clients, but you also don’t want to under value the services and products you offer by pricing too low.
On the flipside, if you never have clients tell you that you’re too expensive, you’re probably not charging enough.
It’s a great price, when the value exceeds the cost.
When it comes to the battle of the sexes, who should you target in your marketing message…primarily men, women, or an equal share to both?
It may surprise you to learn that in 85% of households women are the primary decision-makers for consumer good purchases. As such, we as business owners need to be very cognizant of how we brand to the female persuasion. However, at the same time, it’s still important to keep the male population in the equation, but as a more secondary target group.
Let’s face it, no one wants to work during the summer, right?
If less work and more money appeals to you, then you are going to want to learn some of our invaluable branding tips that will make you work smarter, not harder (and allow you more time at the beach.)
The power of branding…it allows you to shorten your sales cycle – i.e. less work, more money – and that’s what marketing is all about.
Did you know it actually takes the average person six to seven times to see/hear your message before it begins to resonate?
Have you ever heard of Coca-Cola?
Sounds like a ridiculous question, right? But did you know Coca-Cola is one of the world’s most recognizable brands? It is the #1, most valuable soft drink brand worldwide with a value over $70 billion U.S. dollars.
Of course, most small businesses don’t have the same marketing dollars as Coca-Cola. However everyone, I repeat everyone, can benefit from the same three core marketing principles: