Think about what Amazon has done to convince us how much we will save with Prime. And how even a large price increase seems like a real value.
No one has been more surprised than us and we truly thank you for your interest and comments.
But not all of you have been with us for the entire journey and while we have our own favorites, your clicks have let us know which posts struck a chord and were your favorites.
What are you doing right? And, more importantly, what are you doing wrong?
Effective marketing requires a plan, with objectives, strategies and tactics for reaching goals.
After these steps have been taken, a review of their effectiveness should be undertaken on a planned basis. This review is called “the marketing audit” and is one tool for determining your current level of success.
To hear sales tell it, marketing says “no” more often than they say “yes.” Marketing has become the poster child for how to not be responsive to the customer’s needs. In fact, we’ve been called the sales prevention department.
Does that leave sales with only smoke and mirrors? Heck no. Marketing should always be trying to show sales and the customer that we’re trying to profitably grow their business. We can prove it in many ways.
Maybe you already sell either Lowe’s or The Home Depot or both. Maybe you eat channel conflict for breakfast. But it’s been my experience that the continuous competitive clash between orange and blue is something that is tough for many manufacturers’ to figure out.
Selling one or both of the home center big boxes is a great way to drive volume. Each, however, works hard to differentiate themselves from one another. That makes it had to sell both of them when you have a commodity category. But it’s still possible to do this without being a major consumer brand.
Communication is critical within any business setting, but most importantly within a manufacturing facilities − where the right communication can really impact change and translate into business success.
What’s the best way to communicate? How much should you communicate? How do you make sure your messages are heard? This guide will take you step-by-step through the communication process. It has simple, practical, easy-to-follow information you can put to use immediately.
Every day your competitors are thinking about the moves that will make them a huge threat to your business. Would it be easy for them to grab a huge share of your business just by giving your key retailers an alternative that they can use to leverage you for pricing and other things? All they have to do in test is be “Good Enough.” They don’t have to do better.
Your costs are rising and your margins are declining. Worse, your retail partners are demanding greater margins and it’s a scorecard measure. You need a price increase but you run the risk of triggering a line review or losing placement.
Let’s start with a basic premise: our job in Sales and Marketing is not to merely generate volume but rather to generate gross margin. How then can we overcome pricing issues?
Profitability without growth will only serve to create an environment with no opportunity. Growth without profitability only serves to create a poor performing large company. Profitability without growth will only serve to create an environment with no opportunity. Understanding the balance between volume and price is your job!
But Gino Biondi, vice president of sales & marketing of Zenith Products, has suggested that the 4 P’s of marketing aren’t enough anymore. Instead, he believes it takes a baker’s dozen of P’s to represent the many facets of product, channel and brand marketing.
Find insight and benefit from the thought-provoking blogs of these product marketing experts. Each tackles the problems and issues that we all face as product marketers from their unique perspectives. My top 10 list, in no particular order, includes:
It could mean, “I am testing you. I have nothing to lose.”
It could mean, “You haven’t shown your value to me.”
It could simply mean, “I’ll get a better price by saying this.”
It could mean, “I am only doing what you as a salesperson have trained me to do.”
Then, when it didn’t live up to your expectations, did you tell yourself you’d gotten what you paid for? We’ve all done it.
Yet, people continue to buy based on appearances and price…and to make them comfortable about products that can’t be tried before they’re bought, both makers and sellers issue liberal promises. Those promises are on the web, in advertising and sales literature. They are repeated by sales people, and reinforced by warranties.
But, customers sold on unfulfilled promises can be lost forever once they are unsold. The web and social media give these unhappy customers a megaphone to declare their disappointment, frustration and, occasionally, raw bitterness.
There is a way, however, to beat the price game, still make the sale, and keep the customer satisfied. The answer is to add value to your product lines.
Tthe way to do that is to stand out from the competition.
You have to stop selling product features and specifications.
You need to start selling
Your customers, like all of us, are bombarded with thousands of messages everyday…family stuff, business, the news of the day, social media, advertising, email, sales promotion, publicity. The trick is to avoid having your message lost in the daily clutter. So your customers know who you are, what you have to offer, and that you care when they’re ready to buy.
You have to guarantee their satisfaction. Your sales people must be knowledgeable. You have to offer the best products available in every price range…best for the money, best for the application, best for builder, best for remodeler and homeowner satisfaction.
You’re an expert at what you do. That means you need to look up from the day-to-day business long enough to identify market problems and turn them in to advantages.
Do this customer by customer with the goal of being the supplier who is most committed to their success. Leverage your strengths as the marketplace expert and resource.
The end result? You will stand out in your customer’s minds. You will make your competition irrelevant because all they are selling is product. And if they are using price as their primary sales tool, this strategy makes price less important.
That’s why adding value is good for your business.
Because aligning to customer needs benefits you with…
And, that helps you stand out in a crowded marketplace, beat the market’s economic swings and pitfalls, and increase sales profitability.
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