Are you finding that many of yourbest prospects are already working with your competitors? When you pursue a newmarket or opportunity, is someone else capturing the prize? Maybe it’s time tore-evaluate your positioning.
Your market position is the placeyou occupy in the mind of your prospective customers. It is how they think of you compared to your competitors.Adjectives like “established,” “cutting-edge” and “high-quality” or“inexpensive,” “convenient” and “full service” are all relative terms. Whenapplied to you and your business, these terms distinguish you from thecompetition.
Your customers’ impression of howyour business compares can determine whether they do business with you or not.Ask a few questions to find out what it is that customers like about thebusinesses you compete with. Are those qualities you can or want toemulate? In what areas arecustomers not as satisfied? Could you offer more satisfaction?
In this fast-changing world, everybusiness must do a maintenance check and evaluate what is happening a few timesa year. Why? Because what worked last year may not be working this year.
My business – direct-mail marketing– is also quickly changing. One key element remains strong, though – the factthat adults prefer direct mail over any other form of sales communication.Fully 73% of automotive customers respond to direct mail, according to the May2006 Customer Focus Automotive Direct Marketing study conducted by Vertis. And,this percentage is only expected to increase!
The study further details that 37%of male automotive direct-mail recipients – and 39% of female direct-mailreaders – visited a dealer.
What’s more, the survey alsoconcludes that direct-mail advertising is a key element to growth during atroubled economy.
Twenty percent of families willmove this year. Some five millionpeople will be married. The market is in constant change. Advertising istremendously helpful in directing newly located families to the products andservices they need and helps put you ahead of the competition. Your competitionmost likely isn’t giving up advertising, so you have to advertise to get yourshare of business. The alternative is to simply lose it to the businesses thatdo advertise.
A five-year survey of more than3,000 companies found that businesses that maintained or expanded advertisingduring a troubled economy saw sales increase an average of 100%.
Bringing in traffic is the firststep, not only to making a sale, but also to selling additional products andservices. The survey showed that, for every 100 items customers plan topurchase, they make 30 unanticipated purchases.
Direct mail is cost effective!Direct mail’s dual advantages – demographic and geographic targeting – make itthe most affordable yet effective form of advertising available.
– By Angie Nielsen, CEO, MailAmerica Inc.
