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Building a Better Marketing Mouse Trap
A Catch and Don't Release Strategy
By Sandra Pearce, MPA Media Marketing Manager
Not to imply your current and future customers are mice waiting to be trapped. My point is, once they take the marketing bait you're using, they should be coming back for more. And the only way to ensure they do is by managing your relationship with them from the moment of first contact. That's where the mouse trap comes in. It's called CRM, or Customer Relationship Management.
It's a fact that keeping a customer costs a lot less than getting a new one. But we often get so wrapped up in making the phone ring we don't focus enough time, energy or resources on what comes after the first sale. We can't just assume that if we provide some basic service and fulfillment, our customers will keep buying from us. We have to meet their current needs and anticipate their future ones.
As a marketer I can tell you that CRM is NOT a software program. It's a business marketing strategy that can help you cope with three of today's most urgent business imperatives: generating new growth, attaining operational excellence and enhancing competitive agility. Without understanding the CRM big picture and then creating a business strategy to manage your customer relationship, the software will just waste hard-drive space.
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To Brand Or Create Response?
How About Both?
By Chuck Mancino
Many companies that approach advertising for the first time think the advertising world should be a black and white affair (not literally). They think – or hope – that when they run their first ad, it should cause people to pick up the phone and order like crazy.
Oh, if only it was that simple - it would be a dream come true for publishers, ad executives and advertisers everywhere. But, in the real world, it's just not that simple. In the real world of advertising, ads do not make it rain sales – not immediately, anyway.
Advertising is like brushing your teeth: You don't just do it well for a week, month or even year; it's a job that should be done consistently for life. And as soon as you stop, you will regress progressively.
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Standing Out In A Crowd
By David Reed, MPA Media Operations Coordinator
In today's fast pace marketplace consumers are inundated with products and services. Fair and competitive markets will have similar or substitute goods and services. The fundamental question is: Which competitor will your target customers choose? How well you differentiate your products and services compared to your competitors has a direct correlation with your overall sales. Through good market research you should understand your competition and your place in the market. In order to improve your marketing efforts it's a good idea to review some basic marketing philosophies.
Understand your competitors. Under the best circumstances there always will be a substitute good or service taking sales from your business. Good competitors have done their homework and understand their position in the market. The key is to understand their strengths and position your company as the better alternative. This is the cat and mouse game every business must play.
Every target market will be conscious of product attributes that are purchasing factors that can be developed to make the sale. For example, if you're faced with a price sensitive market and the competition is full of low cost leaders, the better position is likely the superior quality product. You may develop a marketing strategy that discusses the product's unique features. The object is to highlight the characteristics of your products so that your target customer views your product or service as unrivaled. Defining your place in the market and attempting to alter the buyers perception should be a continuous priority. If you don't continuously try and shape your identity, your competitors will do it for you.
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