Today's blog article is a list of good marketing questions to ask yourself to improve you marketing efforts and put plans in place to attract more customers. Great marketing is a powerful too that can attract new customers to any business the same way a super magnet attracts metal. If you have not done so in a while, book off an afternoon to do some thinking, planning, reviewing and strategizing your marketing efforts. I think you will find it one of the most enjoyable afternoons you have had in a while and that it will result in ideas and actions that deliver significant additional profit to your business.
I have separated the questions into the four Ps or marketing so that if you are struggling more in one particular area of marketing, you can easily find the questions related to that particular issue. Take an hour or so to answer each of the following questions below. Write our your answers. After you have completed this you should have an abundance of ideas for further investigation or even some ideas you are confident will immediately improve your marketing efforts. Take the ideas from the questions, give them more thought and research and then put plans in place to implement the ones that make it through your screening.
When and where is your target market when they are most interested in your product?
What influences and motivates your target market?
How does your target market want to be engaged with and communicated with?
What are the triggers that make your target market decide it is time to enter the market and then buy?
Is your promotional strategy targeted at getting new customers, increasing sales with existing customers or attracting customers from your competition?
What promotional methods are your customers/potential customers most likely to see, notice and be interested in?
What promotional methods do your customers/potential customers prefer/value?
What promotional methods have worked the best/worst for you and why?
What promotional methods have worked the best/worst for your competition and why?
Are there any promotional methods used in other industries that might be successful if used for your business?
What are promotional methods that will take very little time to implement and are free or no cost?
Could your business benefit from a PR campaign or stunt?
Is the messaging you are using in your promotional tactics consistent and evoke emotions and thoughts that entice people to action?
Would it be beneficial for you to hire someone with marketing experience to help you with your promotional efforts?
What competitor products/services are currently the most successful and why are they successful?
What competitor products/services are currently the least successful and why are they the least successful?
What product/service needs are not currently being met?
What products/services do your customers currently value the most?
What features of each product or service do your customers currently value the most?
How can your products/services be improved?
How can you reduce the cost of your products or services without changing their perceived value with customers?
Would you be able to make more money by reducing the cost to produce your product or service and experiencing a corresponding decrease in sales?
Which products/services of yours do your customers value the most?
What additional products/services do you have the capability to sell that you currently are not selling?
What functions or features of your product/service make customers annoyed?
What functions or features of your competitor's product make their customers annoyed?
What features and benefits are customers looking for in your market?
What features & benefits do customers value the most?
What features and benefits, that are highly valued by prospective customers, can you provide better than your competition?
What is a problem that many of your customers have, that you can solve, and is a solution that you can sell to them in the form of a product or service?
On a scale of one to ten, how important is price for customers and prospects in your target market?
What features and benefits are customers willing to pay more for?
What features and benefits are customers willing to pay very little or nothing for?
What are the pricing trends that are currently occurring in your market?
What is the lowest special price you currently offer?
What is a price that new customers can't refuse?
What is the lifetime profit generated from a new customer?
How does your pricing compare to the competition?
What are ways that you can increase the price received for your products/services?
Are there any benefits to changing your pricing terms, payment terms or contract length?
What pricing strategies of your competitors are working/not working?
Which of your pricing strategies are working or not working?
What pricing model is the best for your product or service? (learn about pricing strategies)
Can you increase price with minimal to no decrease in sales?
When you drop your price, do your sales spike significantly or stay relatively flat?
Can you make more money by raising or lowering your regular price given the resulting changes in volumes?
Can you make more money by raising or lowering your feature price given the resulting changes in volumes?
At what price does your product or service provide great value to your customers?
Place (ie. Distribution Channels)
Where does your your target market make purchases and are your products sold there?
Do you have a strong presence where your target market makes purchases for the products and services you sell?
How does your target market want to be engaged with and how do they want to buy?
What are all the distribution methods used by your competition to sell its products?
What are all the distribution methods used by the most successful companies in your industry?
What are all the distribution methods used by your company to sell its products?
Are there additional distribution methods you could use to sell your products where you could compete effectively?
Is there anyway you could make your current distribution system more efficient or effective?
What frustrates your customers currently about the purchasing process for your products?
Would your business be able to benefit from a partnership, joint venture, licensing agreement or selling franchises?
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My name is Chris R. Keller. I work at Profitworks Small Business Services helping various B2B small businesses in Waterloo and Kitchener Ontario generate new customers. Feel free to connect with me on Google+ or if you are just interested in getting new customers for your B2B small businesses enter your email in the box provided below and click the "Send Me Free Updates" button.
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I hope you have enjoyed this article on good marketing questions to ask. If you feel I have missed any key questions I would love to hear your thoughts as I would love to add more questions to the list. Just contact me and let me know what question you think should be added to the list.