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Creating a marketing strategy for any company isn\u2019t a \u201cone and done\u201d activity. As you\u2019ve no doubt experienced, the approach you use to connect with your audience needs to adapt to factors such as the economy, marketplace changes, and customer and prospect preferences. Let\u2019s take a step back and review some of the big-picture tasks associated with sharpening your marketing strategy.<\/p>\n
Refine target selection<\/strong><\/p>\n Consider each prospect, existing customer and target group as an investment. Estimate your net profit after subtracting production, sales and customer service\u00a0costs.<\/p>\n More desirable customers will buy in sizable volumes with enough frequency to provide a steady income stream over time rather than serve as one-time or infrequent buyers. They\u2019ll also be potential targets for cross-selling other products or services to generate incremental revenue.<\/p>\n Bear in mind that you must have the operational capacity to fulfill a prospect\u2019s demand. If not, you\u2019ll need to expand your operations to take on that customer, which will cost you more in resources and capital.<\/p>\n Also, be wary of becoming too dependent on a few large customers. They can use this status as leverage to lowball you. Or, if they decide to pull the plug, it could be financially devastating.<\/p>\n Adjust price points<\/strong><\/p>\n Your price points are another key factor. It\u2019s a tricky balance: Setting prices low may help attract customers, but it can also minimize or even eliminate your profit margin.<\/p>\n In addition, think about what payment terms you\u2019re prepared to offer. Sluggish accounts receivable can strain cash flow. Establishing a timely payment schedule with customers is critical to sustaining operations and supporting the bottom\u00a0line.<\/p>\n If you must spend a substantial amount of cash to set up a new customer, such as buying new equipment, consider offering initial pricing that includes a surcharge for a specified period. After you\u2019ve recovered the cost of the equipment plus carrying charges, you might offer the customer a volume- or loyalty-based discount.<\/p>\n Craft your messaging<\/strong><\/p>\n When you know who you want to sell to and what you\u2019re going to charge, it\u2019s time to craft your messaging. This is obviously the key step \u2014 literally marketing your products or services. So, clarity and consistency are\u00a0key.<\/p>\n Begin by identifying your core value proposition. This is what sets your business apart from competitors. Communicate it in simple, direct language. Generally, you want to avoid jargon unless you\u2019re working in a very specific context where industry terminology or technical knowledge is critical to sales. Be persuasive by providing remedies for your audience\u2019s pain points.<\/p>\n You may need to tailor messaging to different market segments. For example, established customers usually respond best to a marketing message that reminds them of your company\u2019s reliability and the total value of your mutually beneficial relationship. Meanwhile, prospects and newer customers probably need more persuasion and \u201cproof of value.\u201d Carefully choose the right marketing channels as well. These may include print, email, social media and in-person outreach.<\/p>\n Finally, watch out for inconsistency. Even if you vary your exact wording when addressing different market segments, your overall messaging needs to be uniform in look, tone and details. Disjointed communication \u2014 especially when it comes to things like pricing and product or service specifications \u2014 can sink a marketing strategy\u00a0fast.<\/p>\n Today and tomorrow<\/strong><\/p>\n An ineffective approach to marketing can quietly sap a company\u2019s financial strength as sales leads diminish in number or value and competitors gain more attention in the marketplace. Conversely, a strong and timely marketing strategy can be a real revenue driver. We can analyze your marketing costs, as well as your price points, and help you develop a viable strategy for today and tomorrow.<\/p>\n \u00a9 2025<\/em><\/p>\n <\/body> Creating a marketing strategy for any company isn\u2019t a \u201cone and done\u201d activity. As you\u2019ve no doubt experienced, the approach you use to connect with your audience needs to adapt to factors such as the economy, marketplace changes, and customer and prospect preferences. Let\u2019s take a step back and review some of the big-picture tasks […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,14,10],"tags":[8,11,12],"class_list":["post-17266","post","type-post","status-publish","format-standard","hentry","category-articles","category-business","category-news","tag-articles","tag-news","tag-updates"],"_links":{"self":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts\/17266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/comments?post=17266"}],"version-history":[{"count":1,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts\/17266\/revisions"}],"predecessor-version":[{"id":17267,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts\/17266\/revisions\/17267"}],"wp:attachment":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/media?parent=17266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/categories?post=17266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/tags?post=17266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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