Archive for June, 2012
In Part I of my Marketing blogs, I posted about the importance of having a marketing plan that aligns to your business vision, as well as being clear about what you have to offer. Part II focuses on making sure you understand your target market, your competitors and your pricing.
Your target market
Once you are clear on the products and services you have to offer, it will help clarify your target market. The more you understand who will be most likely to buy your services and why, the easier you will find marketing. Consider the following important points:
- What is your niche market?
- Who is your ideal client?
- What solution are you offering them?
Your competitors and your pricing
You believe in the value of what you are offering, but your customers will be looking for the best solution to meet their needs at the best price. To remain competitive, you need to know who else is offering the same solutions to your target market so it’s very important that you research your competitors. Here are some of the important questions you will want to consider.
- How do you compare on price and service?
- How have you arrived at your pricing? Is it competitive?
- Do the cost of your products and services look to match your competitors, or are you charging a higher price for a premium product?
- What do you do that makes you stand apart from your competitors?
- What are their strengths and weaknesses compared to yours?
- What is their unique selling point? What is yours?
Once you have addressed the points above, you will be ready to look at the success, or not, of your past marketing activities so you can explore what to repeat, ditch or try anew.
To set a solid foundation for your marketing plan with a clear business vision, why not join my Vision Formula Workshop on Thursday 14th June 5.30 – 8.30pm at the Pipers Business Centre 220 Vale Road, Tonbridge,TN9 1SP.
It costs just £47 and you will leave the workshop with:
- A core 3 year business vision that clarifies what you want from your business and provides clarity for your marketing strategy
- Key measurable goals by which to monitor progress towards making your vision a reality
- An action plan to achieve personal and business growth
- A way forward to implement your business vision and create a marketing plan to achieve top performance for your business.
More details can be found here.