Got Business? Got the Business You Want?
If you answer yes, good for you! Keep up the good work and on the course of what you are doing!
If you answer NO, you have to ask WHY.
I truly believe no business should fail. Maybe just change their business plan a little to accommodate client needs.
If your business isn't thriving, you need to ask yourself a few questions:
1. Are your clients satisfied? Repeat clients are the best. They are the easiest and most familiar to deal with. Like family. You know that. Further, a satisfied client may not tell anyone about you, but an unsatisfied client will tell everyone. Reputation is important. Strive to be the best and ask your clients if they are pleased with your performance.
2. Is the Market Saturated for Your Product or Service? I once had a client -- he was in a service industry. He told me he wanted 100 trucks on the road. It was an unobtainable goal. The market was saturated for his industry. Ask Yourself: Are there many suppliers for your product or service? Do you need a new revenue stream? Is there any way you can differentiate yourself from the masses? We once worked for a gentleman who sold air conditioners. His business was family owned for over 30 years. BUT. . . Pathmark, Home Depot, PC Richards and your friendly neighborhood KMart all sell air conditioner units. In this instance, looking for a new revenue stream or ability to differentiate may be a key to compete. Sometimes a business has to change to survive.
3. Does Your Target Market / Potential Clients Know What You Sell? I know times are tight. However, you know what they say about the best kept secret. How about the saying, "if you build it they will come". I don't buy it. Although I can't say never, it doesn't usually happen. As a matter of fact, there was a study done by a national chain restaurant that cut their advertising for a week and saw their sales drop dramatically. Top of mind is best. Do you have to spend a million dollars to do outreach? Absolutely not. You just have to be smart and find ways to get your word out. Can you do presentations for groups? Can you do a targeted mailing? Everyone hates cold calling, but maybe that's an option. Or, maybe you can attend a networking group or a chamber meeting where you can meet potential clients. Advertising does not have to cost a lot of money. There are many cost-effective options out there. The worst is being a secret. Spread the word and see what happens.
4. Do you know who your target market is? There was a case study where a cleaning company was targeting potential clients in an income level they thought would use their services. Well. . . imagine their surprise after they did a demographic study of their current client base. They were going after the wrong potential clients. It is important to see the type of customers you have, where they live, etc. Find "like" characteristics and market to that group -- not what you think is the group. You might be surprised what you learn.
OK, so you may ask what this has to do with marketing. Guess what. Marketing isn't just advertising. That's just a part of it. You have to look at all pieces in the "marketing circle" to really succeed.
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Doreen Guma, MA, FACHE: Doreen specializes in strategic planning, target and goal setting and is committed to fostering success for her clients. She works as part of their team to create a marketing plan that will be productive and cost-effective. Doreen has experience in marketing and outreach, strategic planning, risk management, quality improvement, event planning, development of new programs and speakers bureaus, satisfaction surveys, motivation/incentive programs and fundraisers. She credits her 19 year healthcare career in enabling her to identify miracles and victories that a person who has never worked in healthcare may not recognize. With her experience in quality improvement and risk management, she protects clients from advertising liability and looks for opportunities to make them shine. Customer satisfaction is key to increasing revenues, and, as a trained facilitator, Doreen has the ability to work with an organization to create goodwill with their clients. She has earned a Bachelor of Science in Management, a Master of Arts in Business and Policy Studies, and achieved Board Certification as a Fellow of the American College of Healthcare Executives (FACHE). Doreen is the recipient of Island Peer Review Organization's (IPRO) Outstanding Service to the Health Care Community Award, a member of the Healthcare Leaders of NY and the American Society of Healthcare Risk Management (ASHRM). Contact: www.djamesmarketing.com email: doreen@djamesmarketing.com
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