“If it’s not broke, don’t fix it.” How many times have you heard this phrase? While this may work for a recipe or vehicles, it does not hold true for business marketing or sales. In order to attract your target customer, you need to be constantly staying ahead of the game.
3 Reasons to Improve Your Sales and Marketing Strategy
Your strategy may need to be updated or scrapped altogether; here’s why:
- Change in Product or Demographic: Products and services often change, but sometimes so does the demographic. Your strategy may once have spoken clearly to a certain demographic, but is now completely lost on them. Updating your strategy will help to reach your target customer.
- New Technology: Remember when fax machines were all the rage? When a new technology comes out, it is impossible to imagine how it could get any better. Then something new and innovative comes out that completely changes how we communicate and sell. Ensure that you keep up (as best you can) with the fast-paced changes so that you can reach your target customers in a variety of ways.
- New Competition: Every year thousands of businesses are created. Maybe you’ve cornered the market for your particular product or service, but that doesn’t mean you always will. Update your strategy before your competition taps into your customer base.
How Inaction in Marketing Is Costly
You need to have infrastructure in place to more efficiently spend time with the hottest leads - and nurture cooler leads without your effort when you’re busy. You also need a system that allows you to reliably target a year-round customer. Hiring an inbound marketing agency will provide the guidance you need to consistently attract your most profitable customer.
Do this exercise to determine the cost of inaction for your business. Add up:
- The cost of not running at capacity each day, or unsold inventory;
- The amount of money left on the table by not upselling and cross-selling existing customers;
- The cost of not getting the most profitable customer consistently, repeatedly, through the door exactly when you want them.
Your Target Customer Is Waiting to Be Found
If you don’t reach your target customer, someone else will. Other companies have connected with Tangible Words and are seeing great results. You can, too!