Tips To Creating Your Own Marketing Strategy

Developing and creating marketing strategy is an essential for any types and forms of business. If you do not have one, it is a must that you create one, your efforts, time and money are likely to be inefficient and useless.

You should create your strategy which focuses on making sure that your products and services meet what the customers want and needs. This is important in order to develop a long-term and profitable relationship with your customers.

The main goal of a marketing strategy is to identify and to communicate with what benefits of your business could offer to your target market. Quite genius!

In order to achieve those goals you have set in your mind, you will need to create a smart strategy which can respond to customers’ perceptions and demands.

Tips below could help you define your key objectives and goals in reaching your customers, on the other hand, this could help you identify which customers you should focus on. Smart list for smart and effective action.

  • Identify your Key Elements. The acknowledgment that your existing customers will fall into particular groups or segments is one of the key elements for a successful marketing strategy. Characterize them by their “needs” and “perspective”. Market research could help you identify these groups and especially their needs, address them in a more fruitful way than your competitors, this should be the center of interest of your strategy.
  • Strengths and Weaknesses. Your strategy takes account of how your business’ pros and cons will affect your marketing. A genuine Strengths, Weaknesses, Opportunities and Threats analysis could be a great start, to begin with. This one is a substantial idea to conduct market research on your existing customers, it will also help you to build a more genuine portrait of your reputation.
  • Developing your Marketing Strategy. Understanding your business’ pros and cons and the other external variables to consider, you could develop your strategy that engages to your own strengths, match them to the transpiring opportunities. These questions below could possibly help you develop your marketing strategy:
  1. What changes are taking place in the business’ environment?
  2. Are these opportunities or threats?
  3. What do I want to achieve?
  4. What are the customers’ demands and needs?
  5. How do I target the right potential customers?
  6. Which are the best way to connect with my customers?
  7. Is there something missing with my customer service? Do I need to improve it?
  8. If I change my products and services, could it be possible that it will be more profitable?
  9. How do I price my products?
  10. Which is the best way to promote my products?
  11. When can I finally conclude that my marketing is effective?
  • Tips and Drawbacks. Think about how you can get the most out of your existing customers before looking at new markets. It’s more economical and swift than finding new customers. Take time to think and consider, could it be possible to sell more to your existing customers? You could always search for ways of improving the possession of customers. Your marketing strategy document should:
  1. Examine the different needs of different groups of customers
  2. Focus on a market niche where you can grew rapidly
  3. Goal to put most of your efforts into the 20 percent of customers who provide 80 percent of profits

Avoid these:

  1. Makes assumptions about what customers want.
  2. Ignores the competition.
  3. Trying to compete on price alone.
  4. Relies on too few customers.
  5. Trying to grow too quickly.
  6. Becoming complacent about what you offer and failing to innovate.
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Rude Questions You Must Answer Before Your 2010 Strategic, Marketing & Leadership Planning

Strategic planning and decision-making is tough but when personalities, politics and biases are involved it becomes even more complicated. It takes courage to confront conventional thinking. Someone has to ask those uncomfortable questions that people think about… but never have the guts to raise. Sometimes there is a strong temptation to be quiet, don’t challenge the process and just get it over with.

Okay, I’m going to ask the tough questions. As my grandmother said, “The only way to change is to do things differently.” If you want to stimulate some real, measurable, relevant change then be bold, step up, man up and ask. Every process needs to be challenged from time to time. Start kicking the scared cows with questions like these.

15 Rude Questions You Must Answer

  1. Why are we doing this? Do we have compelling reasons?
  2. If we were starting all over would we do things this way?
  3. If there were no company politics, rivalries or biases involved how would this project or decision change?
  4. Who are the people who are conceiving, driving and doing the work and who are just watching?
  5. Why do we need the people who are just watching?
  6. What are three big things we can do with our customers that would have the greatest positive impact on their business and ours?
  7. Are our products and services really different and do they offer real, measurable value?
  8. Whose solution are they using while they are waiting on our solution?
  9. Are we easy to do business with and are we easy to buy?
  10. Is our Unique Value Proposition actually unique and valuable?
  11. What is our company doing to steal business from our competition?
  12. Is our department developing strategies to grow the business or just to protect our budget?
  13. Is our marketing attracting the business we want or just the business that wants us?
  14. Are the customers/clients we have today the ones we want and need 3-5 years from now?
  15. How do we change our business model to get the customers/clients we want and need?

Why you have to ask

No one sets out to make a bad decision. Actually, every bad decision begins as someone’s attempt at a good decision. Most of the problems stem from not having a clear idea of what you want to achieve and how to make it happen. So the great corporate tap dance begins, the process gets longer and longer until all the best options fade away. Remember, the last available option is never the best decision.

Every change begins with questions and answers. If you never ask the tough questions – nothing positive happens. So have courage, ask, challenge and grow the business in 2010.

Benefits Of Enterprise Resource Planning (ERP) Systems

Business owners demand instant and low-cost solutions that are easy to upkeep and maximize return on their investment. Enterprise resource planning – ERP systems fit the bill perfectly and hence have become popular with many businesses, especially in implementing the the resource efficiency lessons learned during recent recessionary periods. In fact, now not only multi-million dollar businesses that deploy such systems, but also small-sized units and even start-ups.

So how will your business benefit from an Enterprise resource planning software system? Here are the lures that have prompted business owners to walk the ERP road:

Reduction in Operational Costs: Deploying an ERP software system holds benefits for all three process streams of an organization-strategic planning, production control, and management control. Such a system integrates varied business processes across the myriad of departments in an organization into a single and comprehensive information repository. This integration makes communication smooth in-between departments and this improved communication, in turn, imparts a degree of efficiency in the production, planning, and decision making processes. This efficiency is manifested in various ways-lower production costs, less marketing expenses incurred, and less need for securing help desk support.

Facilitating Inventory Management: Businesses these days are located in various geographical regions. Administrative units, warehouses, and back-end support offices are spread all over the world and this leads to complexities in managing the inventory in these locations. An Enterprise Resource Planning (ERP) software system lets you maintain detailed inventory records, keep a track of materials and lot, thus simplifying your inventory transactions. With an ERP system empowering you, you can keep inventory volumes at optimum levels.

Streamlining Day-to-Day Management: An Enterprise Resource Planning (ERP) system streamlines the process involved in carrying out the day-to-day tasks of managing a business. This is primarily because an ERP software system facilitates the creation of a backbone data warehousing system. This makes it easy for the employees of an organization to easily gain access to updated business-related data. This ready access to data eases the process of decision-making and exerting managerial control over key factors of production.

Support to Resource Planning: Resource planning forms an integral component of the strategic planning process that is carried out in an organization. Enterprise Resource Planning (ERP) systems are therefore designed to take on the tasks involved in planning resources effectively and efficiently, and over the years, this functionality has improved in leaps and bounds.

So where can you obtain an Enterprise Resource planning (ERP) software system that will provide you with all these strategic benefits? ABAS Software Partner has ERP software solutions that will take care of the varied resource planning needs of your business.