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Marketing Management | High Point MarketingHigh Point Marketing

Marketing Management

marketing coaching and trainingA great plan is nothing without implementation. Since every business is different, we offer a flexible solution to ensure your business implements a successful marketing plan.

We can be full service project manager that oversees the clients internal team or hire a team of marketing professionals such as web design, graphic design, video production, SEO consultants, social media consultants, etc. to fulfill the strategy.

We can also coach or train you and your staff to create and manage marketing campaigns. This package is great for businesses that have dedicated personnel to run their marketing operations. We can conduct this in a classroom style, on-the-job training or a combination of the two. Training topics include:

1. Developing a Profit Model

It is very important before you embark on any type of  promotional/advertising campaign that you are set up to make a profit. This means that your pricing is correctly set and your expenses are minimized. Price is a commonly overlooked issue as most businesses take their cost of goods and markup their price to match or undercut their competition. This type of strategy back fires for most as it tends to minimize their profit margin thereby creating financial stress within the business. “Marketing” to increase sales volume does not cure the issue, it usually makes it worse. The proper method to price setting is to research the price the market will pay, not what you think they can afford. Once your pricing model is properly defined, the business will be set to optimize profit.

2. Market Research

The one constant in business is change. Your industry changes, competition changes, even your customers and customers buying patterns change over time. For this reason, it is important for every business to do some basic market research every year in order for your business and marketing strategy stays relevant. You should research industry trends, competitive analysis, target market demographics, strengths , weaknesses, opportunities and threats to your business. This phase of marketing is focused on uncovering overlooked opportunities.

3. Marketing Mix (Product, Price, Promotion and Placement)

The strengths of your product, pricing strategy, how you promote your business and the method of putting your product in your customers hand will define your brand. So, it is important that you ensure that all four elements of the marketing mix work  in synergy to define your brand as you intend. This is the next step to developing your advertising and promotional strategy.

4. Customer Retention

This is the most overlooked part of any business. A business may be willing to spend money in advertising and promotions to get more customers but often overlook the need to retain good customers. A strong customer retention plan can be the most cost effective method of increasing sales. Happy customers are usually the best form of advertising that result from their referrals. Referrals have the highest sales conversion rates, and many large corporations thrive on this type of word of mouth advertising.  And, it’s cheap!

5. Measuring Return on Investment

After developing a marketing strategy, it is very important to track where your money is being spent and if it results in sales and ultimately profits. Even the best marketers can get it wrong in the beginning (think New Coke) but the key is to be able to track success or lack thereof so you can change course before it is too late. As you track what’s working, you will soon find the marketing channel that brings the largest return and you can then focus your resources and energy to what’s driving sales.

6. Sales Tactics and the Art of Closing

As a small business owner, you are the lead sales person, whether you  like it or not. No one will be more passionate about your business than you. So understanding basic sales principles is important in order for you to close a higher percentage of deals. Closing a sale is easier than you think but the key is to earn the right to close. If you focus on what the customer wants, you will find yourself closing higher deals at a higher clip.

 

speaking engagements marketingSpeaking Engagements

If you are interested in hearing about any of these and other marketing related topics, feel free to contact our office to book us for speaking engagements.

 

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