Monday, November 15, 2010

Reducing Marketing Risk

When considering a marketing plan, it is wise to divide your customers into four groups:
1. Customers who know you and know your product or service.
2. Customers who know you but your product or service is new to them.
3. A product or service known to potential customers who as yet do not know you.
4. A product or service which is unknown and for whom there never has been a customer

These 4 factors are presented in order of lowest to highest level of risk. Risk here is related to both marketing budget and schedule plus expected cash flow from these investments.

To understand how to market to the first three groups of people, please give me a call and we can devise a plan which will work.

To understand how to market to the last group, call someone else. It's a mystery to me.

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