A tough economy has put a lot of businesses and corporations through the ringer, and many have fallen victim to the harsh economic landscape. Those that have survived thus far find increased competition and a future life with uncertainty. But advances in technology, used in conjunction with tried and true marketing strategies and business principles, will help any business not only weather the storm, but also level the playing field and rise up over their competitors.
1. Never Forget About The Customer
It’s no secret that customers will always prove to be a company’s biggest asset. Yet many businesses have either forgotten this key principle or willingly choose to ignore it. This is the first step on the road to failure. Treat your customers with respect, honor their requests when feasible and practical, and go the extra mile to let them know how valuable they are. Most customers remain loyal to the company that provides quality customer service, not discount pricing.
Contact Active Web Group for help in applying these principles to your business
2. Offer A Unique, Valuable Product or Service
These days, it is difficult to offer a product or service that is 100% unique, but if you can attribute at least one particular aspect to a product or service you offer that the competition doesn’t, then you have a critical edge. Make sure your customers know how your product or service can benefit them, and what makes it better than what is being offered by the competition.
3. Embrace New Technology
eCommerce isn’t actually new, but many companies still haven’t even taken that crucial step toward establishing a strong online presence, much less integrating eCommerce into their corporate website. Additionally, terms such as Web 2.0, SEO and Social Media are still foreign concepts to many that simply don’t take the time to understand them. But they are all vitally essential to continued success in today’s competitive marketplace.
4. Offer Information
You might offer a great product or service, but couple that with valuable information, and you’ve got a winning combination that keeps customers coming back consistently. Offer a newsletter on at least a monthly basis, create press releases, and start a blog and keep it regularly updated with industry-related news and information. Many businesses tend to underestimate the high value of a regularly updated blog or periodic newsletter. These simple company expansions are a great way to reign in new customers and keep the existing ones.
5. Email Marketing
Email marketing is cost-efficient, effective, quick, and easy. Create email lists based on specific target markets and launch a campaign based on those particular markets. Have that newsletter yet? Email it. Wrote a press release about a new product, or an important industry event? Email it. People spend a good portion of their day reading email, and if your emails are creative, informative, and engaging, you can reach thousands in an instant.
Depending upon the nature of your business, there may be other things you can do to increase revenue and beat the competition, but these five fundamental concepts should be applicable to any company.
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