Marketing by Example

You are a budding entrepreneur. You are just starting out. You already understand the need for excellent marketing strategies, in order to attract your customers. Unfortunately, understanding the need, and knowing how to implement successful marketing tools are two different concepts. So, how do you learn what you need to know? You begin marketing by example.

Until you have the experience to guide you along the road to success, follow the leaders and begin marketing by their examples. In the beginning, simply observe the marketplace around you. By paying attention, you can usually tell what businesses are successful and what businesses are likely to fold in the near future. Then you need to ask the questions: What makes this business so successful? Why is that business struggling to keep the doors open?

Do a little sleuthing and find out why a business is going under. Are they in the wrong location for the product or service being sold? If they are off the beaten path, it can truly hurt a business, no matter how excellent their product or service.

Are the prices unreasonably high? Unfortunately, some businesses price themselves out of the marketplace. For instance, if I can buy a latte for half the price, at a competitor's shop, why should I pay double for your coffee? Unless it is the difference between tasting a hot, colored cup of water and a sip of heaven, I am going to buy the more economical cup. In order to succeed, prices need to be competitive and within financial reach of the consumer.

Even if it is the cheapest in town, is it worth the money to your customer? Have you ever been to a cheap restaurant? As soon as you put a forkful in your mouth, do you ever wish you would have paid a little extra to go elsewhere? Even if the prices are great, is the business selling a substandard product? Why do people avoid their product or service?

As you ask the questions of the dying establishments, make converse queries of the successful. Why are people willing to go out of their way, and pay a little extra, to buy this entrepreneur's product or service? What is so great about their location? What is it about the business that keeps customers flocking to through their doors? Why would I want to spend my money here?

So many questions, with so many answers! However, if you can ask these hard questions, and do a little investigative work to find the answers, you will also begin acquiring the knowledge needed for implementing successful marketing strategies.

Take advantage of the lessons learned by your predecessors in the marketplace. Marketing by example is a great way to start, and soon you will have lessons of your own to teach eager entrepreneurs.

There are a number of seasoned marketers who are also willing to share their strategies with you. People like Ted Nicholas, Dan Kennedy, Chris Cardell, Janet Switzer and Dr Joe Vitale have fabulous resources that you can draw on to aid your own marketing efforts. In other words, learn from the best that have been there and done it.

Paul Sutherland is an Accelerated Business Growth Coach. His company - Daniel Thomas International - http://www.dti.eu.com helps corporate and SMEs to grow their businesses with tried tested and proven techniques and strategies, increasing their bottom line profits in 90 days or less. Pick up a FREE copy of "The 7 Big Mistakes" report when you visit the site and request a FREE 45 minute consultation.