|
Why is My Marketing Plan Failing?
- Are you marketing and promoting your business and still can't get sales?
- Trying to figure our what you're doing wrong?
- Consider changeing one of the Three Parts to your Marketing Strategy
to get better results
What do you do when your marketing plan is not resulting in sales? The short answer is that you have to talke a closer look at the three issues of your strategy that can easily be changed to get better results from your marketing. Let’s take a closer look.
Are you haveing Business Problems Like These?
Your advertising is generating requests for more information, but no sales;
Your online marketing includes a free report and call to action, but you still can’t close the sale;
You send out flyers and get a ton of calls, but none of them result in new sales.
What's the Problem With Your Marketing Plan?
Your Marketing plan has to change in at least one of these three areas:
Your Target Market:
Every effective marketing strategy assumes that you are marketing to your target audience. The problem lies in that you are advertising or promoting to people who really don’t have an interest in your product or service. Technically, we would call these people ‘tire kickers’. They’re just poking around to see what you’ve got. In order to correct your marketing strategy, you will have to adjust and refine your target audience so that you are working with people who are really interested in what you’re selling.
The Offer you're Including in Your Marketing Strategy
Part of your marketing strategy includes an offer. That is, after you have attracted attention and prospects have taken action, you follow up with your offer. The problem could just be that your offer is not good enough. How do you compare with the competition? Is your offer nothing more than just a discount when they purchase? Does your offer make them stop dead in their tracks and make your prospect say that they ‘must have that’?
Another consideration you should test is to create an offer where you truly give something away. Of course, it has to be of real value, otherwise prospects will see right though your pitch. Consider adjusting your marketing strategy so that your offer includes things like:
- Free no obligation Trial Period
- Free no obligation Sample of your new product
- Free no obligation Consultation
- Free no obligation Quotation and Gift
- Free no obligation Sample of your Book; Include First chapters
Remember that these free offers give your prospect the opportunity to get to know, trust and like you. Until that happens, nobody is going to purchase from you no matter how good your offer is.
Your Marketing Strategy Must Consider Your Price:
Your first thought is going to be that I will suggest that you lower your price. Well, not so fast. When you look at all the things that are available for free but actually sold (like bottled water), everything has it’s price.
When considering price, I will tell you that every market has what is called ‘price points’. The biggest companies test this and so should you. Basically, the price point is where the majority of prospects lose interest. You may find that a popular price for a dozen red roses in your market is $19.95. You may make somewhat fewer sales (but possibly more profits) if you increase your price to $24.95. If sales continue, then you know that you haven’t reached the critical price point when prospects stop purchasing. Now, when you raise your price to $29.95 and find that sales slow down dramatically, then you know you’ve reached your maximum price point. You have to roll prices back.
Never Stop Testing Your Marketing:
If you’re struggling with your overall marketing plan and sale strategies, try testing the price point of your product or service. You may simply find that (as an example) you’re trying to sell a dozen red roses for $29.95 and all you have to do is lower your price to the $24.95 range and sale pick up right away. You have to keep your prices in line with those price points, unless of course you can convince your prospects that your red roses are totally different and superior in quality to your competitions.
Your marketing must also take into consideration your position in the market. If you are a personal trainer or provide one on one coaching with rates at $1800 for the day, I would suggest that you may be at the top of the price range. Not that you aren’t worth it, but have you been proven? If you’re just new in business, you will have a difficult time attracting prospects if you are priced at the top of the market. You may have to lower your pricing for the time being. Those prices can be increased as you gain your share of the market.
Other Considerations for Your Marketing Plan
In addition to that, consider that testimonials will go a long way to demonstrate that you are worth the price you’re asking. When ‘George’s’ testimonial says that ‘before your coaching, he was in real trouble, but soon after starting with your one-on-one coaching, his entire life turned around and he immediately noticed several improvements’, you start to demonstrate why you’re worth the money you’re asking.
Just remember, your marketing strategy should never be carved in stone. You have to be willing to adjust and change until you find the combinations that work best. But no matter what, your marketing strategy will focus around making sure you are advertising to your target market; you have an offer that makes prospects stop and look; and your pricing is correct (not the lowest, just correct). You can easily chech and adjust those three parts of your marketing strategy to improve your results! Good luck!
|
