A colleague of mine is in a difficult situation – or so he thinks! He and a partner have developed a CD-based learning aid to be used in tertiary education institutions. They both have inside knowledge of what students require, they are well qualified in their field, and they know how to produce the product. So what’s the problem?
Sales.
Or rather, the lack of sales.
Whilst they have a great product concept they have not yet developed a sustainable marketing scenario in which to make their product commercially viable. Their current fragmented distribution limits their control over the sale of the product and consequently they are having difficulty increasing revenues. They are not driving their product, their customers are.
[And guess what? They don’t have a marketing budget – yet!]
This situation is not unique. Many businesses have sub-optimal marketing procedures in place and focus valuable effort on the ‘symptom’ of low revenue (i.e. low sales) rather than address the real ’cause’ – poor marketing.
However, all is not lost for our friends. There are some effective marketing tactics they can put into place to gain control and add substantial value to their product. And even better, these activities don’t need to cost an arm and a leg. Just some perseverance and marketing nous.
Gain Control
Adding Value
In just a few steps our friends have created an effective marketing environment in which they can control sales, improve their industry profile and plan with confidence for the future. And it’s a model that can scale up as their business grows.
There are many opportunities to enhance business results through insightful, targeted marketing programs. So where do you start? Work from your strengths and look for relationships and marketing opportunities that will have an ongoing benefit for you.
Always remember…when it comes to your product, you’re in the drivers seat.
Stuart Ayling runs Marketing Nous, an Australasian marketing consultancy that specialises in marketing for service businesses. He helps clients to improve their marketing tactics, attract more clients, and increase revenue. For additional marketing resources, including Stuart’s popular monthly newsletter, visit his web site at www.marketingnous.com.au