…MOST BUSINESS OWNERS KNOW HOW TO SELL THEIR PRODUCT OR SERVICE. BUT, DO THEY KNOW HOW TO MARKET THEMSELVES OR HOW TO USE ALL THE NEW TECHNOLOGIES TO GROW THEIR BUSINESS DURING THESE DIFFICULT ECONOMIC TIMES?
- When did you last update your Sales and Marketing plan? The marketplace has changed so must your approach to it.
- When did you last review your advertising budget? Is this the time to increase it or decrease it?
- When did you last perform a strategic analysis of your competition? It is always important to know the strengths and weaknesses of your competition. No one stops doing business with your competitor based on what they do well. Make the competition’s weakness your strength.
- How often do you review your pricing structure? Is it too flexible or is it too rigid? Have you ever had a financial analysis of your pricing structure done? Do you price to sell or price for profit? Is there a margin-mix management program in place?
- Do you have anyone who is totally dedicated to growing your sales? How do you monitor their performance, set goals/quotas, create leads or compensate them.
- What is your market penetration, market coverage and market reach? Is there a niche you are missing? Have you done enough or any research to answer these questions?
- Have you or anyone on your staff ever had in-house or formal sales training?
- The internet is the new yellow pages. How are you maximizing this very important resource? Are you taking advantage of the social networking sites? Would you like a FREE website analysis? If you don’t have a site is it because you lack the knowledge or time?
- Is the marketplace shrinking for you daily? What solutions have you come up with? Have they worked? If not, why?
- Have you looked closely at a product/service diversification program for your business?
- Do your office and supply chain vendors communicate well? If not what are you doing about it?
