The customer is always right?

You've heard it said, "The customer is always right."

Well, that is not necessarily true.

Customers are the lifeline of your business. Without them, your business will simply dry up and die. Without them you don’t have a business. It's important for you to take good care of them.

But know that…. if you own a business, just as sure as the sun will rise, there will be problems. Not necessarily many, but some. And… they will not always be your fault or be in your control!

The first time most business owners receive a complaint, they are devastated and take it personally. It is important not to do that.

If you work with people, there are going to be problems. Be professional in dealing with them, do everything you can (even if the problem was out of your control) to correct the problem.

Once you have done everything you can to take care of any problem, then consider it closed and let it go!

What is Marketing Research?

"The secret to success is - find out where the people are going and get there first." - Mark Twain

Basically, marketing research is just what the merchant did with the peanuts. Find out what catches customers' attention by observing their actions and drawing conclusions from what you see. To put it more formally, in the words of the American Marketing Association, marketing research is "the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services."

Marketing research is an organized way of finding objective answers to questions every business must answer to succeed. Every business owner-manager must ask:
 Who are my customers and potential customers?
 What kind of people are they?
 Can and will they buy?
 Am I offering the kinds of goods or services they want - at the best place, at the best time, and in the right amounts?
 Are my prices consistent with what buyers view as the products' values?
 Are my promotional programs working?
 What do customers think of my business?
 How does my business compare with my competitors?

Marketing research is not a perfect science; it deals with people and their constantly changing likes and dislikes which can be affected by hundreds of influences, many of which simply can't be identified. Marketing research does, however, try to learn about markets scientifically. That simply, is to gather facts in an orderly, objective way; to find out how things are, not how you think they are or would like them to be; what people want to buy, not just what you want to sell them.

Why Do It?

It's tough - impossible - to sell people what they don't want. (Remember the Nehru jacket?) That's pretty obvious. Just as obvious is the fact that nothing could be simpler than selling people what they do want. Big business has to do market research to find that out. The same reason holds for small business.

Business owners often have a "feel" for their customers - their markets - that comes from years of experience. Experience can be a two-edged sword, though, since it comprises a tremendous mass of facts acquired at random over a number of years.

Information about markets gained from long experience may no longer be timely enough to base selling decisions on. In addition, some "facts" may be vague, misleading impressions or folk tales of the "everybody knows that..." variety.

Marketing research focuses and organized marketing information. It ensures that such information is timely. It provides what you need to:
 Reduce business risks,
 Spot problems and potential problems in your current market,
 Identify and profit from sales opportunities,

Get basic facts about your market to help you make better decisions and set up plans of action.

Why Do a Marketing Plan?

A marketing plan outlines everything you will do to market your business, in what order, and when. The time and effort spent developing your marketing plan is a good investment.

An effective marketing plan does the following:
 Identifies and explores the strengths and weaknesses of your company, its products, or services
 Examines, based on these strengths and weaknesses, the opportunities and threats that exist in the marketplace
 Forces you to focus on the needs of your customers and potential customers
 Allows you to anticipate and plan for changing market trends, consumer demands, and changes of your competitors
 Helps you reach company goals within your budget
 Forms an essential part of your business plan

What makes a great ad?

The answer is almost too simple.

A good ad is one that works. Your phone rings. Buyers walk through your store door. Your salespeople have prospects to see. Your e-mail order forms are full.

On the other hand, bad advertising is one of the most disappointing experiences a small business can have. You spend your hard-earned ad dollars with high hopes, only your hopes and expectations dashed with a complete lack of response.

Here are three critical items to keep in mind to make your ads draw customers and sales:

1. Figure out what means the most to your best prospects. What do you offer that they'll value most? State that best benefit clearly and prominently in your ad. If you've got lots of space or radio time, repeat your benefit at least three times.

2. Tell your prospect to buy. Ads that don't come right out and ask for the sale usually fall short. Tell your prospect to buy, why they should buy, how they should buy, and when to buy. Take a look at pricey ads designed for big companies. They almost always tell you exactly who they think needs their product or service, which store or web site you can buy it from, how to get to that location, what kind of cards or financing they take, and when the offer will begin and end.

3.Finally, pick your advertising media carefully. Don't advertise a specialty service for a particular industry in your daily newspaper unless your town is dominated by that particular industry. Instead, chose a trade publication that specifically targets that one industry.

4.Simple? Yes it is, as long as you make the whole advertising process a real PROCESS!

Do a features, advantages and benefits work-up and determine your key benefits.

Talk to you customers and find out why THEY buy.

Use professionals where you can – they can save you hours and dollars by helping you develop a process that works and once it’s developed – you have it forever.

WHY SMALL BUSINESSES SHOULD OUTSOURCE THINGS THAT ARE NOT THEIR CORE COMPETENCY TO AN EXPERT – REASON ONE

Access to First Class Resources:

Outsource providers make substantial investments in technology, processes, and people and they gain expertise by working with many clients facing similar challenges. This combination of specialization and expertise gives their customers a competitive advantage over their competition.

First in a  series of compelling reasons why it makes sense for small businesses to outsource during recession and beyond. For more great tips, check out Next Level's blog, site or FB page.. Find the pros you need and list your own business also on the OED Community.













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