Continuing from part one, you need to weave your marketing
mission into profit. As soon as you take the perspective
that all profits originate from sales dollars, then it's
much more logical to assign a
disproportional amount of
time and effort into insuring that the stream of cash flow
from sales is maintained or increased over time.
This is a function of marketing. This is where your
marketing mission directs your attention as the business
owner. Your marketing mission and your credit policy
originates from sales dollars.
Credit policies can be a critical element in the overall
marketing of your product and service. If you offer VISA,
MasterCard, and American Express, that may get a sale. The
less restrictive credit policies that can naturally
encourage sales need to be balanced with financial
regulations or constraints present in the process of
extended credit.
Many profitable small businesses have gone out of business
due to lack of cash flow because they've implemented
incorrect credit policies.
Presentation- The manner in which a product actually looks
is presented, packaged, or the way a business or service is
rendered to the prospect will have a profound effect on the
sales ability of what you're offering.
As an owner, you never want to forget how important the
packaging role is in encouraging prospects to not only buy,
but to refer other business.
If you're a service business such as a contractor, you
don't want to be sending workers in with ripped up blue
jeans, unshaven, dirty shirts. You want them to be packaged
in a presentable manner.
If you're selling a product, obviously you want it to be
well made and well put together. You don't want nuts and
bolts falling off or chipped paint, etc.
Inventory- Your inventory selection can be woven into your
marketing mission. If your business is inventory based,
then the selection of that inventory will, to different
degrees, be important to the overall sales success.
One of the more important aspects to inventory is
selection. You will want to approach these decisions with
marketability in mind. If you don't, all of a sudden your
inventory won't turn over properly and you'll wind up with
dead stock that will either be difficult to sell and
require deep discounts to unload, or you won't be able to
unload it at all, or if it's perishable it may spoil.
About
The Author
Abe Cherian is the founder
of Multiple Stream Media,
a company that helps online
businesses find new
prospects and clients, who
are anxious to grow
their business fast, and
without spending a fortune
in marketing and automation. http://www.multiplestreammktg.com
Reprint this on a website: To
reprint this content on a web page, just copy and paste the code below to the
page that you want this tip to appear. You must keep the entire content as is,
including the resource box.
Reprint this on an email or newsletter:
To reprint this content on an email or in a newsletter, just copy and paste
the text below. You must keep the entire content as is, including the resource
box.
Subscribe
to the FREE weekly tips Internet Marketing Newsletter with hundreds of
promotional tips to promote and build your
online business.
