The Business Journal

Posts Tagged ‘advertising’

I stated above that, for  selling, it is wise to start by building a list of potential customers within a five-mile radius. This may not be pertinent in some instances, and that radius may have to be 10 or even 20 miles, but the principle is important.

I have advised numerous franchise companies over the years, and in most cases a franchisee buys a given territory. This can be based on postcodes, counties or population. Nevertheless, when a new franchisee starts business, they should concentrate on distributing their marketing literature in most cases within a one-mile radius of their base and then gradually move out.

It is often fascinating to see how much potential business there can be within a one-mile radius, and it is so much more cost-effective,as vans with company logos that are continually seen can generate new enquiries. We all know that success in advertising comes from the repetition, not just the one sighting. This requires a much more detailed and planned approach. Every sales person, unless starting with a virgin product or virgin territory, will no doubt have some existing customers.

Marketing encompasses advertising, branding, PR, sales brochures, labelling and packaging – all of which are intended to create potential customer interest, but then selling takes over. Selling involves person-to-person communication, either on the phone or face to face.

Now I do accept that some selling takes place on the internet, which is of course based on words and pictures. With regard to the internet, which is getting more and more sophisticated, not only does it require that you have
an excellent website that within three seconds of customers clicking on it must retain their interest, but it must also be very easy for customers to find what they are looking for.

The real sophistication comes in the marketing of the website and search engine optimisation (SEO), so that the site comes in high on the list selected by the search engines.

The whole process of winning business this way carries high risk, because the seller is dependent on customers finding the website. It also can be dangerous because this is a passive activity where the future is dependent on customers, and you could easily go broke waiting for the phone to ring or the order to arrive by e-mail.

Who do you want to sell to? Or, more importantly, who is most likely to want to purchase your products or use your services? Not identifying the customers is probably one of the major errors that sales people make. This oversight is even more common with people who set up their own businesses.

People can get into business with an enthusiasm and belief in their product or service and then in many cases waste a great deal of money in advertising and targeting too broad a customer base.This is the shotgun approach as opposed to the rifle approach,which is much more targeted.

You must draw up a very clear customer profile. This of course varies according to your product or service. If you are in B2B you must define exactly the businesses that would most benefit from your product or service. If you are in B2C, again clearly define the customer who would most benefit from your product or service. The profile could include age, sex, socioeconomic standing and similar purchases that the customer is currently making.