Imagine you advertised your wonderful invention, got a few prospective enquiries and made a few sales.
Nothing else happens unless you attract more customers.
Without more customers, you will have no more sales, no more inflow of money. Not desirable at all.
You need to set a system in place that will work for you each time and ensure you have a continuous flow of customers who buy.
The system you develop will be unique to your business, your product / service and your target audience.
To put things in perpective, let’s look at an example.
Assume you are a computer training institute.
You want prospects to join your training courses.
Your system would look something like this.
Step 1. Advertise through various media. This should generate enquiries at your center in terms of telephone calls enquiring about your courses or prospects visiting your center to get details.
Step2. Impart appropriate information. Convert Telephonic enquiries into “Walk-in” enquiries. Take down contact details for all enquiries. Convert as many “walk-in” enquiries to direct enrollments as possible.
Step3. Send out relevant information in a sales letter for those who either did not walk-in or haven’t enrolled yet for some reason. This letter could offer additional information, offer an installment payment facilty etc. This should generate some more enrollments for your course.
Step4. Send out another letter to those who haven’t enrolled in your courses yet. Talk about additional courses, new schemes etc. It’s up to you to decide how often you want to reach out to a prospect before you decide he’s not giving any business just yet. Keep the cost effectiveness in mind.
Step 5. Send out letters on advanced courses, paid seminars etc. to existing students. This ensures that you get “repeat business” from your “existing customers.”
You need to ensure that your “Marketing System” does these things for you.
1. Attract new customers to your point of purchase.
2. Convert Prospects into customers.
3. Ensure that customers are delighted with the product or service enough so they refer it to others and are willing to buy from you again.
4. Ensure repeat purchases by the same customers of refills/ advanced versions of your product/ service.
5. Keep going back to step1. and repeat the whole process.
The advantages of having this kind of system in place are:
1. It’s direct and cost-effective.
2. It allows you to test your schemes and offers.
3. Interested prospects come to you instead of you sending out your material to a broad spectrum of people who may not be in the least bit interested.
4. You can start small and expand your efforts as you gain experience.
5.Based on your experience, you can decide at what point to terminate the process of reaching out to prospects in hope of getting their business.
6. Once your system is running smoothly, you can continue to reap the rewards while concentrating on other areas of your business such as administration, growth and expansion.
Irrespective of the nature of your business, your ability to have a constant flow of buyers of your product or service, especially in the initial years, will be critical to it’s survival an Growth.
By Jayant Hudar . Founder & C.E.O of School of Business Wisdom