Marketing and Risk
now browsing by tag
Every company needs to take the risk of launching a product or service into the market and engaging in serious promotional activities to make sales. But you cannot do this without human resource. If you are running a big company, you may have a separate marketing department which needs highly qualified staff. However, problems can arise when you hire so many people without a slight idea of the roles each will play.
You can maximize on a small number of talented employees and achieve excellent results. But how practical is this? The best thing is to have a small team whose members have specific roles and tasks that will contribute to the job being done satisfactorily. Sometimes you can hire even when there is no need for new employees. The new hires can save you in future when the business is expanding and sales are growing exponentially.
How much a business is successful is not directly proportional to the number of employees it has. Actually, a small group of highly skilled and experienced professionals is much better than a big team of average performers. You should avoid comparing the success of your business with another based on the number of employees you have.
To know how effective your marketing is, measure the success of each campaign individually. You will know which campaigns are generating more sales and which ones are performing dismally. You can then direct more funds to what is bringing better results. It will not hurt to ask customers how they got to know about your product or service.
Have you tried to treat your customer service as marketing? This is the first business contact that customersexperience. How you treat your customers will determine whether they will move to the next step or retreat. It does not matter how small the number of people calling is; when you answer the phone, treat the person on the other end well. What you tell customers is what they will tell other prospects. Treat them nicely and they will recommend you to other customers. Pretend to be what you are not, and you will lose even the customers you already have.
Do not be afraid of taking the right risks. In some deadlock cases, taking risks might be the ultimate savior of the situation. Use your skill as an entrepreneur to assess the situation and make the right decision. On the same note, know when not to take a risk.
No successful business goes through a smooth journey; big gains and losses are made before a company gets to the top. What you lose doesn’t matter but how you recover from your loss is what does.