In business marketing it is all about creating a solid base. Many times we call this our tribe or followers. The key is to have a strategic plan and to implement that plan while evaluating the plan and making the necessary adjustments so as to strengthen the brand and increase revenue. In my 40 years of working in the for profit and non-profit sectors I have witnessed a few things about successful businesses and they all have one thing in common consistency. Most businesses tat succeed build a base through effective targeted advertising. It is important to remember that one oh shit can ruin 1000 at a boys so you must strive to keep your base happy by providing great quality products and services while delivering what the consumer wants. Your advertising must build confidence with the consumer by having a strong call to action that will make your base shop with you and recommend you to others. When you are making your advertising choices you must consider who the ad reaches and what return on your investment you desire. When you give your base what they desire and you exceed their expectations you will create a buzz about your business that will then translate into greater revenue. In spending money on customer acquisition it is important to remember that customer loyalty also goes a long way in strengthening your brand and thus increasing revenue. After you acquire your base it is important to retain that base so that you can continue to grow by gathering and using testimonials of satisfied clients who continue to use your products and services.
Advertisement Ideas: Building The Base!!!
The buzz word today is attraction marketing. The idea is to create a niche market and to attract the customer base that fits into that niche. This allows you to narrow your scope and more effectively market your products and services. The idea is to keep ahead of the curve by being a step ahead of the current trends and then having a marketing plan that is very fluid and adaptable that can be implemented at any time for any situation so that customers will still have confidence in doing business with you. I saw today that a business that has been in the same place for 9 years is being forced to move and they are doing a moving sale although they have a second location that could handle stocking the inventory. They instead have marked things down to a point that they are selling off certain items at a loss. This is okay to create quick cash flow and liquidate items that aren’t moving but it also sets a perception with the consumer to wait until they mark down merchandise. This is where knowing what you paid for an item is very important. You can attract customers by doing a liquidation sale and letting them know about your other location that will accommodate them in the future but it is important to let them know that these type of sales are not the norm. Also when you move it is important to let your existing customers know that you moved. In doing attraction marketing you must know your desired target demographic and where they are getting there information. I recently worked for someone who did not have a website and I thought wow you are behind the times as most people are looking for what you have on the Internet. I mentioned that the business should be doing targeted marketing and each time the manager told me that doesn’t work. Needless to say that business closed and he now has a warehouse full of inventory. When you attract your desired audience and turn the browsers into buyers you can capitalize by offering more items. It is when you know what your base desires that you can deliver.
Advertisement Ideas: Building The Base: A Case Study!!!
The year was 1987 I was a Senior at Hofstra University majoring in Marketing when I was given the opportunity to intern with The New York Liberties of Major League Volleyball. I will be forever grateful to Jerry Saperstein who taught me the importance of building a fan base and making sure the fan experience is something to remember. Our team was very competitive and we did many promotions. The first thing I did to build a base was I reached out to the students on campus and gave them FREE Tickets, we made up for the give-a-way with concessions and Liberty Merchandise. I then reached out to the media and invited people like Pete Axhelm to cover the team. I then contacted all the local schools and volleyball clubs in the area. When the season ended we went from 250 people at a game to 400 people at the game. I did this by making sure people knew who we were and that when they came to a game they would have a great experience. I remember one game we invited The Hempstead High School Band to perform and we gave them a donation and they came out in force and their parents and friends came and they started to come to games even if they were not performing. The idea is that when building your base you have to do outreach and make sure people know who you are and give them a reason to do business with you.