The Golden Rule Of Marketing
The age old question, where do I find business?
For years, business giants have pondered the question. The more answers they come up with, the more the question grows. You can find business anywhere, and nowhere.
Without getting too philosophical, business is where you need it. Necessity can bring you business. Necessity is what creates the demand that fuels a business.
Without a consumer base wanting something, you wouldn’t be giving it to them.
Business is a self-fulfilling paradox. They buy because you sell. You sell because they buy.
That doesn’t mean you can sell anything to anyone though. You need to work the law of averages.
The Golden Rule Of Marketing
There is a golden rule about marketing. If you market to ten thousand people, and only a tenth do business with you, you’ve still reached a thousand people.
You need to focus on who you’ve got, not who you haven’t. Drive your sales like that.
Don’t get too concerned with the other nine thousand. They may pop up another time, and they may then do business with you.
Until then you just keep marketing over and over to thousands at a time. Ten rounds of marketing, and you finally have your ten thousand people.
So how do you get these people? Many ways actually.
Say for instance you want to get people face to face. You do promotions and leafleting. Go to any busy city centre, and you’ll see people in the tens of thousands over a six to eight-hour period.
If you’re handing out leaflets, you won’t reach each one. If you have a stall or a large promotion tent, you may catch many eyes.
Ultimately the rule of not doing business with nine-tenths of the people you engage with ring true.
The amount of people you do business with should cover your costs and make it sufficiently profitable.
It is vital you do the research to know how much it will cost to market like this. With that information, you can create target figures to know how many people you should try to reach to be profitable.
Sometimes if you can’t come to the people, you have to come to them. The benefits of buying leads for your business is that you get people in bulk.
You have ways and means on contacting them. Some directly like by phone, others indirectly like by post or email.
The golden rule still applies though. Luckily this way will decrease the time and expenditure spent going and doing face to face marketing.
You may need to maintain a workforce to do the reaching out though.
Few things are certain with marketing. You can try to make your product alluring and your advertising eye-catching all you like.
At some point, they’ll just submit to the golden rule.
Not everything sells because it was a good product, or the ad was funny. The strength of marketing is in reach and numbers alone.
Have you ever wondered why successful business giants market so widely?
The golden rule is why.