![Course Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Marketing and Sales Strategies Workshop](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Marketing Workshop
- 1. Marketing/Sales Strategies for Small Businesses, and How to Effectively Use the Web Marketing and Sales Strategies Workshop
Notes de l'éditeur
- Marketing is a plan for actions for bring customers to our business. Why it’s important: Drives sales Enables sales projections for the future Applications: Obtain funding. Obtain self confidence. Starts to build a knowledge of what you’re doing.
- The Humvee motor vehicle providing transportation: Features: widest passenger vehicle on the market. All terrain, automatic transmission, f-wheel drive. Benefits: Safe, sturdy, can be used in any weather condition. Unique: one-of-a-kind Fills the niche for people who can afford the luxury of a vehicle tailored for heavy duty usage. Knowing all you can about your competition will help you position your service or product, so you can sell and promote your advantages over the competitive offering. Use the internet to learn about other similar companies. If it’s a product, will the package be unique? Standout? Will the main features be prominent? If it’s service, can you feature your service on a vehicle, in a brochure, on a sign?
- Shop your competition, both local and remote. Call. Get quotes. Talk openly to your competition. Talk to prospective customers about what a fair price would be. Maximum sales = lowest price. Good value = medium price. Maximum profit = high price. High price implies higher quality. In head-on competition, you will lose to the company that offers the same for less. Drive home the idea that your price includes all features and benefits your service offers. Will you price above or below the “umbrella” (price used by your main competitor). Above = higher quality Below = better value. Beware of the fact that small jobs are low margin. Your service is valuable enough to provide you a decent profit. Consider setting a minimum.
- If you sell your product through a wholesaler or distributor, your price must allow for your product to reach the end used at a competitive price – on the shelf. If you use a broker, brokers earn a commission based on the price they sell the product to the wholesaler.
- Provides a disciplined way to work through the costs of your service. Accumulate an estimate of everything which makes up the cost of your performing a service. If travel is involved, the cost of a vehicle must be considered. The AAA has calculated $0.33/mile. Set a realistic salary for yourself…and for other in your company Add overhead (OH) costs Determine your objective profit. (10%, 20%...) Consider providing a job cost to your customer, rather than a proposal to bill by the hour. Get contracts spelling out what will be done by whom. Add-ons will be time and material. Consider what is standard for your industry
- For each widget: estimate the cost for material and the cost of all labor to manufacture. add the cost of the package (could be a bottle plus label) add delivery cost (per unit, per case) determine the company overhead and assign a portion to each product. add your objective profit. (10%, 20%) Check against competitions’ prices
- May be a moot point. You may be it, especially for a service! Brokers and manufacturer’s reps. Act as your sales force for a product; selling for you through a wholesaler and/or distributor. If the sales person is on your payroll, usually a base salary plus commission and benefits (medical insurance, automobile, expenses). Investigate your industry and your competitor to learn the accepted method. Advertising builds awareness, arouses interest and motivation to purchase.
- Your marketing effort consists of: Rent, Sales Commission and Advertising Allocate ½ of your gross margin to your marketing effort. If your rent is high, your advertising budget is lower because you expect your location to generate high “foot traffic” by your store (e.g. mall versus shopping strip).
- These are all tools for spreading the word about your service or product. Many are used by your sales people at the point of sale presentation. You can offer them to your prospective customers in ads and by way of the internet. Even your menu if your business is a restaurant. Business cards can be very effective to have your “target” customers know about your business.
- Example: A tuxedo rental business could partner with a bakery, wedding photographer, bridal shop and florist. For cross promotion partner, choose a non-competitor with the same target market.
- Sometimes it can be too expensive to satisfy a particular type of customer.
- Your effort to create a positive image about you, your company, your product, your service. By writing news stories about you and your company for release to newspapers and people of influence. By sending out newsletters with positive information. By being involved and talking up your product or service. Relatively inexpensive compared to advertising media.