20 Marketing Tips
... every entrepreneur should know!
- The most important order you ever get from a customer is the second
order.
- In direct mailing, spend 10% of your budget on testing.
- Understanding and adapting to consumer motivation and behavior
is not an option. It is an absolute necessity for competitive survival.
- A well-designed catalog mailed to a qualified response list will
probably bring a one
percent response.
- Processing and fulfillment costs incurred from the time an order
arrives until it is
shipped should be kept below $10 an order.
- Know the power of repetition. Be sure your message is consistent.
- The two most common mistakes companies make in using the phone
is failing to track results and tracking the wrong thing.
- Marketing activities should be designed to increase profits,
not just sales.
- It costs five times as much to sell a new customer as an existing
customer.
- Selling what your customers need, instead of what they want,
can lead to failure.
- Don’t think that product superiority, technology, innovation
or company size will sell itself.
- Don’t neglect or ignore your current customers while pursuing
new ones.
- People don’t buy products, they buy the benefits and solutions
they believe the
products provide.
- Any decent direct mail campaign will cost $1.25 per piece.
- The average business never hears from 96% of its dissatisfied
customers.
- Fifty percent of those customers who complain would do business
with the company again if their complaints were handled satisfactorily.
- It is estimated that customers are twice as likely to talk about
their bad experiences as their good ones.
- Marketing is everyone’s business, regardless of title or
position in the organization.
- Exaggerated claims can produce inflated expectations that the
product or service
cannot live up to, thereby resulting in dissatisfied customers.
- Get to know your prime customers - the 20% of product users who
account for 80% of the total consumption of that product class.
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