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Reader Q&A: Getting it Right in My Industry 8 August 2007

Filed under: Get Clients Now,Marketing,Promotion,Small Business — worddocdooley @ 10:23am

QUESTION
CfS reader Colin Skilton of Future Credit asks, “[How do I get] it right in my field of Credit Management, as I feel currently all others have got it wrong?”

ANSWER

I don’t believe there is a definite ‘right’ or ‘wrong’ way to do business in any given field. For me, it all boils down to one thing: who your potential customers or clients are, and how you can be of value to them or help them.

So the first thing I’d suggest you do at this stage is to find a link between what you sell and how it offers a solution to the needs of your target market.

Next, assess how you are currently positioning yourself. What does it say about you or what you offer to your prospects? What can you do to change the current perception to that which you desire?

For many, it begins with writing (or reworking) your positioning statement, USP or marketing message. I have covered this many times in my newsletter, Communiqué for Success, as well as in this blog, MarketingMoment, so you might want to look at a few past issues/blog posts.

In a nutshell, it is vital that you take the time to truly understand the mindset of your customers. Identify what they feel about what you’re selling, and how they tell the difference between your business and your closest competitors (ie, what ‘value’ statement, proposition or demonstration compels a buyer to purchase from you and not your competitors?), and then build your core marketing message accordingly.

Differentiation plays a key role here; so do try to unearth your main competitive advantage. What is the chief benefit of doing business with you, and only you?

Your point of differentiation – or ‘uniqueness’ – may well relate to the way your credit-management service is priced, presented or delivered. Perhaps you offer options that others don’t. Maybe it’s in the way you package your services. Credit management can be an overwhelming field, so what would happen if you presented solutions that appeared to be fun? And so on.

Whatever you decide on, make sure your create a clear, compelling positioning statement that quickly answers the most fundamental question of them all, “What’s in it for me?” By “me”, I mean your target market.

The more clearly you define and communicate the unique value of your credit-management services, the more distinct your marketing edge will be.

Want to use this in your ezine, blog or website? No problem! Just let me know. I’ll send you a short resource box/bio to include at the end of the article.

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