As businesses are still shaking off the effects of the long recession, many of them are looking for ways to stand out. Without a strong strategy, the short term results from these efforts may backfire in the long term.
Marketing includes all actions taken to attract, service and keep clients. Successful marketing is an ongoing process. If business owners simply focus on bringing in new clients without full attention to service, retention and referrals, they miss prime opportunities and are inefficient. Shot-in-the-dark marketing can be seen like fad diets. These diets can bring dramatic results at the beginning, but they do not offer truly healthful habits that manage weight for a lifetime. In fact, these diets can damage your health and cause even more weight gain at the end. Similarly, it is always better to have a long-term, all-inclusive marketing strategy.
Cheapening the Brand
Slashing prices can hurt what customers perceive to be the value of your service or product. You are the expert and your business offers the best. Keep that message and perception in the forefront. What you give your customers is the top-shelf product of your intellect and skills. Offering discounts signals that your work is not superior — and worse — customers will keep expecting the discount even as the economy improves. They want that discount and their referrals will expect the same pricing.
Desperation Turns Away Potential Clients
Fair weather friends are a fact of life. This relationship plays out in commerce too. Everybody wants to be associated with a winner. Potential clients want to know that they are buying a valuable product/service. If a company looks as if it has little value, many will assume that company offers inferior products/services; otherwise, why would the prices be so low?
Many business owners feel they cannot afford to wait and plan seemingly complicated strategies, but your patient and smart decisions at the start will keep costumers and grow your brand. You know your value. Make your clients and customers see your value too.
Let Visually Dynamic help you plan your brand.