Most people think the thing to do when cash is tight is the cut down on their marketing budget, assuming they don’t have the money for marketing. That’s the wrong approach. People often think this way because their marketing‘s not generating the kind of revenues they thought. This negative thinking is shortsighted. You have to rethink what you’re doing.
Marketing is the lifeblood of any business. Without effective and measurable marketing, all companies will suffer. Refocus your efforts on marketing your business, and you’ll have a better chance of success.
Your company has to be seen as the only logical solution to your customer’s problem to build success. That’s a marketing challenge, not a quality challenge or a product development challenge.
Competition is a fact of life. But start focusing on marketing as the most crucial purpose in your business. It is possible that marketing alone will give you the revenues and profits needed to meet your goals.
The essential function of a business is marketing and innovation. Everything else is an expense. Innovation is defined here as offering more value to a customer. Your primary job then is to attract customers.
The Problem
Most business people spend their careers in one or perhaps two fields at most, and their experts in this field create a form of myopia or tunnel vision. All they know is the basic approach to business and marketing the people in their industry practice. They probably have no familiarity with different successful techniques and strategies that drive other industries.
One Solution
Suppose you learn 10 or 15 ways other industries market and added them to their own very myopic marketing. In that case, they could transcend and catapult their company above their competitors. And instantly turn their tunnel vision into a funnel vision Dash funneling profits directly to their bottom line.
This section on marketing strategy will cover strategies different industries use to generate revenues. You will want to try one at a time and then measure and test your results so you can keep improving them.
