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If Nobody’s Buying | Extraordinary Business

How some firms get the right product to the right target

customer-centric
Have you ever spoken with the eternal optimist who sounds like this?

Who is your customer?
Any and everybody. Everyone needs what I am selling and everyone will buy it.

Who is your competition?

No one. No one is doing what our company does the way that we do it. We are unique. We are innovators.

Why aren’t you successful?

We need some more capital in order to get the message out to the marketplace. Once we do that, everyone will tell their friends and family and we will be in great shape. The world will beat a path to our door!

 
Hmmmm…if business were only that simple. Build a better mousetrap and the world will beat a path to your door, they say.
Perhaps. [···]

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If Nobody’s Buying | Extraordinary Business

How some firms get the right product to the right target

customer-centric

Have you ever spoken with the eternal optimist who sounds like this?

Who is your customer?
Any and everybody. Everyone needs what I am selling and everyone will buy it.

Who is your competition?

No one. No one is doing what our company does the way that we do it. We are unique. We are innovators.

Why aren’t you successful?

We need some more capital in order to get the message out to the marketplace. Once we do that, everyone will tell their friends and family and we will be in great shape. The world will beat a path to our door!

 

Hmmmm…if business were only that simple. Build a better mousetrap and the world will beat a path to your door, they say.

Perhaps. [···]

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What about Me??? | Extraordinary Business

How to reach your target audiences effectively in order to create interest in what you are selling

My phone was recently stolen while out and about with my family. While a bit disappointed (perhaps distraught and considering filing a missing person’s report), I decided to look at purchasing a new phone. While I am typically not the type of person who jumps on the latest tech innovation for the sake of if, and I am not necessarily a trend follower, I do look for things with the mindset of making the best investment possible. So the $10 upgrade plan at T-Mobile was probably not going to cut it.  At the same time, the latest, greatest Galaxy s$ and the iPhone 5 weren’t going to cut it…not interested in paying for bells and whistles.

So where does that leave me? Who in the marketplace is actually speaking to me?  Which phone will fit my needs, presently and into the near future.  Certainly BlackBerry seems like the standard industry standby, plus their new phones look pretty sleek and features seem to work…but I am not feeling as confident in that brand.  Nokia…interesting phone, but both Nokia and Windows have also had a history of issues.  Back to the iPhone…not interested in learning a new operating system – plus I have Android apps I have invested in.  HTC – love their stuff (my old phone was the HTC One S – fantastic phone!), but it is missing a few hardware features and doesn’t support the level of customization I am looking for…

 [···]

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Strategic Planning

What is strategic planning?  It seems like another one of those business terms that is thrown around haphazardly as though everyone has a clear understanding of what it is and how it is used.

Well, it is actually one of those things that you might label as, “if it was that simple, everyone would be doing it.”  To a certain extent, it is.  However, the problem some people run into with strategic planning who do strategic planning is about the quality of the plan.

For example: if you were planning to go on a trip that was going to end up being a couple hundred miles away, and you were going to stay for a few days to enjoy the weather, relax on the beach and enjoy lovely sunsets, the first question you would have is “Where should I go?”

Doing a little qualitative research – getting other people’s opinions about where to go might give you some direction.  So you might get answers such as Panama City Florida, Hilton Head North Carolina, Wildwood, New Jersey, etc.

While these might be good answers, these aren’t the only questions you want to ask.  Based on these answers you still need understanding of more quantitative questions, such as:clip_image002[4]

  • How much will it cost?
  • How do I get there?
  • What is the best method of travel?
  • What can I do when I get there?
  • What is the best overall solution for me to achieve my goal of relaxing by the beach and enjoying lovely sunsets?

Like your trip, in your business, you have an end goal, such as expanding products and services, getting a larger building, increasing customer awareness, etc.  While you could simply take the plunge and move forward, hoping for the best, strategic planning will help to discover some of the unknowns, such as

  • How are people spending right now?
  • What government regulations will impact my business?
  • What other market entrants are preparing to take part of my market share?
  • What competitive products and services exist that will create a challenge for me?
  • How much will it actually cost me to develop this product or service, including marketing, testing and other ancillary costs?
  • What technologies are on the horizon that you could a) take advantage of or b) would make your product or services obsolete?
  • What will I do if the market shifts, or my plans do go wrong?

Strategic planning, as a tool, is a tool that you can use to help your business plan for the future in order to reach the goals you have for your organization.  Surviving in the marketplace requires the ability to make good decisions, based not only on your instincts and experiences, but also on available information and some creativity.  It is never done in a bubble, but within the marketplace system, whose only goal is to continue matching buyers to sellers.

At Aepiphanni Business Solutions, we are a Small Business Consulting Firm dedicated to serving the needs of small business owners. We specialize in helping business leaders and executives organize, plan and develop strategies for their organizations. We are committed to our clients’ success. 

If you have further questions about creating your strategy or developing your vision, please give me, Rick Meekins, a call at 678-265-3908, or email us at [email protected].


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