In the world of sales and marketing, we often hear the terms “value” and “price” used interchangeably. Specifically, many people think that the lowest price option is the best “value” because it’s the cheapest. That may be true in the narrow context of commodities – $100 for X amount of ABC grain is a better value than $150 for X amount of XYZ grain, because for true commodities, there is no difference between ABC and XYZ brands. But for non-commodity products and services, value and price mean very different things, and marketers need to be aware of the difference. (more…)
Archive for the ‘Small Business Strategy’ Category
Value Trumps Price in Effective Marketing
Sunday, April 15th, 2018
Guiding Consumers to the Bottom of the Funnel (BOFU)
Thursday, November 30th, 2017
The word “sales” often conjures up some very specific images. A man in a suit holding a briefcase going door-to-door selling encyclopedias or vacuums, for example. Or a guy hustling in a car lot. But as we know, sales is, in reality, a process. A process that ends with a pitch. The direct pitch to the customer or the final sales touchpoint is the last step in the sales process and is often referred to as “the bottom of the funnel” (BOFU). It follows TOFU (top of the funnel) and MOFU (middle of the funnel) activities that are designed to move the consumer down a pathway to a purchase. (more…)
Tips and Considerations in Responding to RFPs
Thursday, November 9th, 2017
Requests for proposals or RFPs are very frequently used in B2B procurement processes. Essentially, an RFP involves a business or government entity trying to streamline and standardize its procurement process by requiring all potential suppliers to provide answers to an identical set of questions in order to help the procurement people on the purchasing side efficiently and effectively evaluate their options.
Securing a B2B contract can mean big business for any company; however, for start-ups and small companies, the demands of responding to RFPs can be considerable. It’s not a process to be taken lightly; however, there are some best practices to keep in mind that can help you navigate the RFP jungle. (more…)
Corporate Social Responsibility: Difficult Choices Require Strategic Approach
Thursday, May 5th, 2016
Supporting the local community can be expensive. Even large organizations have to be careful about how and where they lend their time – and money. Is there value – beyond personal satisfaction – in supporting local events and activities? Which ones? How can you say “no” graciously to the many requests that come your way? (more…)
Our Marketing Predictions for 2016
Tuesday, January 5th, 2016As we move into the year 2016, it’s a good opportunity to take a look at some of the potential marketing trends for the coming year. What do marketers and small business owners need to anticipate in order to hit the ground running this year?
Here are some trends we see for 2016: (more…)
Ideas for Choosing and Working Effectively With Freelancers
Thursday, December 10th, 2015According to a recent article in Harvard Business Review, freelancers represent 34 percent of the American workforce. This includes more than fourteen million so-called “moonlighters” who have full-time jobs but use freelancing to supplement their incomes. The good news about this data for freelancers is that there are a lot of opportunities for freelance work. The downside is that there is plenty of competition as well. (more…)
To Engage Your Audience, Provide Real Value
Tuesday, September 8th, 2015Savvy business owners and marketing professionals are always looking for ways to deepen their connection with existing customers and attract new clientele. In the age of content, newsletters and e-letters are great ways to connect with an audience and good tools for small-to-medium-sized businesses (SMBs) to use for customer engagement.
The key—as with any kind of online communication—is to (more…)
Marketing Planning: An Ongoing Process
Friday, September 4th, 2015In an industry like marketing that’s driven by having its finger on the pulse of cultural trends and attitudes, a major fear is becoming stale, outdated or thought of as “yesterday’s news.” At the same time, there’s a very real danger in being too quick to move away from the tried and true, especially in established businesses and industries. So, with the obvious need to strike some sort of balance, the clear question becomes, “How often should I update my marketing plan?” (more…)
Myths and Misconceptions About Being Your Own Boss
Friday, July 10th, 2015by Linda Pophal
Ever since I was a child, I have dreamed about running my own business. I grew up in a family-owned business and have always been very interested in business issues and business management. Like many wannabe entrepreneurs, part of the lure was, of course, “being my own boss.” But, also like others, I’ve discovered that there are a lot of misconceptions about being your boss.
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