Tag: smartbusinessthinking

IS YOUR MARKETING SENDING OUT THE RIGHT MESSAGE?_

Is Your Marketing Sending Out The Right Message?

Is Your Marketing Sending Out The Right Message?

IS-YOUR-MARKETING-SENDING-OUT-THE-RIGHT-MESSAGE_-300x160 Is Your Marketing Sending Out The Right Message?

MARKETING is about COMMUNICATING THE RIGHT MESSAGE to your TARGET CUSTOMERS about your business and your products.

But is your MARKETING sending out the RIGHT MESSAGE to your TARGET CUSTOMER?

In this busy world, we are surrounded by MARKETING and ADVERTISING from businesses trying to get us to buy -  but most of this MARKETING is RUBBISH and it does NOT WORK.

This Marketing Is Wasted

The MARKETING is wasted including the MONEY to pay for it.

There is a BIG REASON for this -  most businesses and most marketing companies that these businesses employ don’t understand the SELLING and BUYING PROCESS.  They don’t UNDERSTAND that customers will only BUY if they TRUST the PRODUCT and they don’t UNDERSTAND that customers will only buy if they feel confident that the PRODUCT will help them.

It Is all About Benefits

It is all about BENEFITS - if a CUSTOMER is confident that a PRODUCT will give them the BENEFIT that they need and want, then they will buy. YOU must THINK about the BENEFIT to your TARGET CUSTOMER when YOU PLAN each part of your MARKETING.

Then, with the BENEFIT lodged in your brain, YOU should then write your MESSAGE to tell your TARGET CUSTOMER what this BENEFIT is.

Tell Your Customers What They Want To Hear

This means that YOU MUST TELL YOUR CUSTOMER WHAT HE OR SHE WANTS TO HEAR. YOU MUST TELL THEM THAT YOU CAN HELP THEM.

This is SMART BUSINESS THINKING!!!

So Many Businesses Don’t Get This

But so many businesses don’t get this -  instead, they write WHAT THEY WANT TO WRITE in their MESSAGE  -  and in many cases, this is NOT the same as telling their customers what they want to hear.

YOU must THINK that your TARGET CUSTOMERS want to hear about the BENEFITS that your PRODUCTS can deliver -  that is all they are INTERESTED in!

Tell Your Customers About The Benefits

So, TELL YOUR TARGET CUSTOMERS about the BENEFITS from your products and get the MESSAGE RIGHT in your MARKETING!

THINK DIFFERENTLY ABOUT YOUR MARKETING MESSAGE.

HAVE SMART BUSINESS THINKING AND SMART BUSINESS ACTIONS

If YOU wish to talk more with me about this please email me at Robert@prestigebusinesscoaching.co.uk or please contact me here:

Contact-Robert Is Your Marketing Sending Out The Right Message?

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Do Your Products Provide The Right Customer Benefits

Think Benefits When Planning Your Products

Think Benefits When Planning Your Products

HELP-WANTED-10-300x160 Think Benefits When Planning Your Products

Your CUSTOMERS will buy your PRODUCTS because they want the BENEFITS and HELP that these will provide.

When I talk to business people, I am often conscious that they don’t THINK ENOUGH about the BENEFITS their PRODUCTS provide for their CUSTOMERS. I have talked about the top 10% businesses many times on this site and much of their SUCCESS is because they THINK ‘BENEFITS’ when they THINK about their PRODUCTS.

If YOU can do the same and THINK about the BENEFITS that your PRODUCTS will provide to your CUSTOMERS when YOU PLAN YOUR PRODUCTS, it should make YOU create or provide BETTER PRODUCTS that MATCH your CUSTOMER’S NEEDS BETTER. I have talked about MATCHING before, saying that YOU SHOULD MATCH YOUR PRODUCTS TO YOUR TARGET CUSTOMERS.

Ask Yourself Several Big Questions

There are several BIG QUESTIONS that I have always asked myself in all my businesses and the first is:-

WHAT BENEFITS AND HELP DO MY PRODUCTS GIVE TO MY CUSTOMERS?

YOU should do the same and write down a list of BENEFITS.

Then ask yourself ONE OTHER BIG QUESTION:-

ARE THESE THE RIGHT BENEFITS THAT MY CUSTOMERS WANT AND NEED?

Answer this honestly and then ask yourself another BIG QUESTION:-

ARE THEIR BENEFITS THAT MY CUSTOMERS WANT AND NEED THAT MY PRODUCTS DON’T FULLY PROVIDE?

If there are significant BENEFITS that your CUSTOMERS WANT and NEED from your BUSINESS and your PRODUCTS that they don’t presently get from YOU, YOU should THINK to maybe CHANGE or MODIFY your PRODUCTS or introduce NEW PRODUCTS that will provide those BENEFITS.

This Is Why Smart Business Thinking Is So Important

This is why SMART BUSINESS THINKING and SMART BUSINESS ACTIONS are so important – they both force YOU to ANALYZE your PRODUCT OFFERINGS CRITICALLY.

BETTER PRODUCTS SHOULD THEN FOLLOW, which should, in time, INCREASE SALES.

You Should Also Ask Your Customers

YOU should also TALK to your CUSTOMERS and ASK them about your PRODUCTS. Businesses are VERY POOR at TALKING to their CUSTOMERS, especially the 90% who RUN the MEDIOCRE BUSINESSES.

I have always TALKED to my CUSTOMERS and I have always learned so MUCH –  it has enabled me to always PROVIDE THE RIGHT BENEFITS to my CUSTOMERS and the process has always enabled me to achieve HIGH SALES with all my businesses.

Set Yourself the Objective To Provide The Best Benefits

YOU must SET yourself THE OBJECTIVE to PROVIDE the VERY BEST BENEFITS to your CUSTOMERS – as part of that, ASK yourself and your CUSTOMERS about the PRODUCTS that YOU presently offer and the BENEFITS that your CUSTOMERS WANT and NEED from your BUSINESS.

YOU should then formulate CHANGES to your PRODUCT RANGE and INTRODUCE these –  your REVENUE SALES should GROW SIGNIFICANTLY, as a result.

If YOU wish to discuss this more fully with me, then please email me at Robert@prestigebusinesscoaching.co.uk

Or please leave me a comment below.

REMEMBER –  SMART BUSINESS THINKING AND SMART BUSINESS COACHING

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How Healthy Are Your Profits

How Healthy Are Your Profits?

How Healthy Are Your Profits?

How healthy is your business?

Are your sales rising?

Are your margins good?

Do you have control of your costs?

Are your Profits growing?

How-Healthy-Are-Your-Profits.docx-3-300x160 How Healthy Are Your Profits?

If your sales and profits are growing then you should have a healthy business. But if your sales and profits are flat or are decreasing, then your business is not so healthy and you need to take action.

In such a situation, your business needs a complete re-think –  you need to re-think everything within your business, starting with FOUR major areas:-

  • Your Products
  • Your Customers
  • Your Margins
  • Your Costs

You should ask yourself questions about your products:-

  • Are your products matched exactly to the needs and wants of your customers?
  • Do your products bring real benefits to your customers?
  • Do your products make the lives of your customers better?
  • Are your products priced right to give value for money but also a good margin?
  • Have your product sales dipped in the past 12 months and, if so, by how much and why?

You need to sell a high number of your products to generate high sales that keep growing, but you will only achieve that if your products match exactly the needs and wants of your customers.

You should ask yourself questions about your customers:-

  • Do you understand fully who your target customers are & everything about them?
  • Do you have an army of customers that is growing?
  • Do your customers return to buy more from you?
  • Do your customers tell their friends about you?
  • Do your customers get a good customer experience from your business?
  • Has your customer numbers dropped in the past 12 months and, if so, by how much?

It is imperative that you understand who your target customer is and you understand everything about the needs and wants of that customer –  then you should be able to sell them the right product and achieve a large army of customers and keep growing that army.

You should ask yourself questions about your gross profit margins:-

  • Is your margin sufficient to pay your costs and to give you a good net profit?
  • Are your selling prices lower than the equivalent charged by your competitors?
  • When was your last selling price increase?
  • Are you paying too much for your products?
  • Has your margin slipped in the past 12 months and, if so, by how much?

It is important to understand how your margin affects your net profit –  it must be large enough to comfortably pay all your costs and to give you a high net profit.  Are your prices too low and if you were to increase them, would sales slip?  In my experience, if you have a strong product offering, price increases should not affect sales.

You should ask yourself questions about your costs:-

  • Do you have a clear understanding of all your costs?
  • Are you as efficient and lean as you could be?
  • Do you know which costs have increased over the past 12 months, and by how much and why?
  • Are there purchases being made that could be trimmed or eliminated?

It is very easy for costs to creep up and to not be noticed. You should look at each cost and analyse each one and see where quick savings can be made.

From experience, doing this exercise can often generate significant changes to the health of a business. Even just a 10% increase in sales, a 2% increase in margin and a 10% decrease in costs can have a dramatic effect on the net profit, often adding as much as 40%  –  now that is surely worth having?

Have a think about this now!

This is a very quick snapshot of possible remedies for an unhealthy business, but if you would like some more advice, email me now: Robert@prestigebusinesscoaching.co.uk.

Or leave me a comment below.

THINK SMART, ACT SMART!

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