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Gerber Financial Advisors


HOW TO USE THE 8 P'S OF MARKETING TO GROW YOUR BUSINESS

August 13th, 2020
 
Good marketing is essential to the success of your business. You can't blast your message out there and expect people to buy.
 
And you can't have the "if we build it, they will come" mindset either.
 
You have to be more strategic, which is why we advise our clients to follow the 8 P's of Marketing.
 
  1. PRODUCT- This is the really cool widget you are selling, or the outstanding service you are providing. Think about what makes you unique - about how what you offer is different from your competitors, and how it solves a problem your customer has.
  2. POSITIONING - How are you presenting your product or service to the world? Define your message and communicate how it helps your customers. Position your offering to be value-add to your target customers.
  3. PROCESS - Planning and good decision-making are crucial to good marketing. Develop sound processes for your marketing efforts that guide your activities and programs.
  4. PRICE - Finding the right price is not easy, but incredibly important. Price determines your profit margin, but if you price it too high, your customers won't buy. Ask yourself, "What are my customers willing to pay for what I am offering?"
  5. PLACEMENT - How are you going to put your product or service in front of the people who will buy it? Think about how and where your products will be displayed as well as your distribution channels.
  6. PROMOTION - This is how you are going to get the word out about your business. Consider activities such as social media, direct mail, blogging, public relations and advertising.
  7. PHYSICAL EXPERIENCE - People love the convenience of digital and the quickness of automation, but most still crave the human element of in-person experiences. The personal customer connection cannot be ignored. Testimonies of your satisfied customers can serve as a powerful marketing tool for your business.
  8. PEOPLE - So much of the customer experience depends on how your team delivers it. Be sure you hire to your core values, and that everyone - including your leadership team, employees, customer service and management- understands and lives your vision.
 
How have you used the 8 P's of Marketing in your business? Share with us on Facebook, LinkedIn and Twitter!


INDEX
  • HOW TO USE THE 8 P'S OF MARKETING TO GROW YOUR BUSINESS
  • BEST PRACTICES FOR COLLEGE FINANCING
  • SCALING A BUSINESS - ARE YOU READY?
  • THE HALFWAY POINT: IT'S TIME TO REVISIT THOSE BUSINESS GOALS
  • GROWTH WITH PURPOSE: SUCCESSION PLANNING
  • GROWTH WITH PURPOSE: EVOLUTION OF FAMILY LIFE
  • GROWTH WITH PURPOSE: FINANCIAL RISK
  • GROWTH WITH PURPOSE: INTEGRATION
  • GROWTH WITH PURPOSE: WHY ARE YOU GROWING YOUR COMPANY?
  • GOAL SETTING 2020: HOW TO KEEP YOUR GOALS FRONT AND CENTER ALL YEAR LONG
  • ASK GERBER: HOW TO STAY LASER FOCUSED DURING THE HOLIDAYS
  • Ask Gerber: How to Identify Your Business's Culture When You Don't Think You Have One
  • Ask Gerber: When Should I Hire a Professional Manager?
  • Ask Gerber: Should You Mix Business with Friendship?
  • ASK GERBER: HOW DO I ESCAPE THE ENTREPRENEURIAL SLUMP OF FEELING TRAPPED IN MY BUSINESS?
  • ASK GERBER: HOW CAN ENTREPRENEURS CREATE SHARED EXPERIENCES WITH THEIR CHILDREN?
  • Ask Gerber: How Can I Recognize Permanent Failure as an Entrepreneur?
  • Ask Gerber: How Can I Recognize and Overcome Temporary Failures?
  • ASK GERBER: HOW DO I HELP EASE EMPLOYEE STRESS DURING BUSY SEASON ?
  • ASK GERBER: DO I NEED TO HIRE HR?
  • ASK GERBER : DO I NEED A CEO?
  • ASK GERBER: DO I NEED TO HIRE A COO?
  • ASK GERBER: DO I NEED TO HIRE A CMO?
  • ASK GERBER: DO I NEED TO HIRE A CFO?
  • ASK GERBER: HOW DO I KEEP PASSION AND PROFITS TOP OF MIND IN MY BUSINESS?
  • ASK GERBER: WHY DO I NEED TO INVEST IN HOSTING AN ANNUAL RETREAT FOR MY TEAM?
  • ASK GERBER: HOW CAN I ENGAGE WITH MY CLIENTS/PROSPECTS WITHOUT BREAKING THE BANK?
  • ASK GERBER: WHAT IS A CLIENT SERVICE MATRIX? PART DEUX
  • ASK GERBER: WHAT IS A CLIENT SERVICE MATRIX? PART ONE
  • ASK GERBER: THE HIRING PROCESS. WHY IS IT SO DAMN HARD?
  • ASK GERBER: WHY IT'S IMPORTANT TO KNOW AND GROW YOUR COMPANY CULTURE
  • ASK GERBER: HOW DO I ACHIEVE THE WORK/LIFE BALANCE AS A BUSY ENTREPRENEUR?
  • ASK GERBER: HOW DO I PREPARE MY FRIENDS FOR LIFE AS AN ENTREPRENEUR?
  • ASK GERBER: FIRST GENERATION ENTREPRENEURS AND BUSINESS EXECUTIVES, HOW ARE THEY DIFFERENT?
  • ASK GERBER: I PUT SO MUCH OF MYSELF INTO MY BUSINESS THAT I WORRY I AM FALLING SHORT AS A SPOUSE AND PARENT. WHAT CAN I DO?
  • ASK GERBER: ARE CHILDREN OF FIRST-GENERATION ENTREPRENEURS MORE LIKELY TO BE SPOILED?
  • ASK GERBER: WHAT'S YOUR STANCE ON REMOTE ACCESS FOR EMPLOYEES?
  • ASK GERBER: WHEN DO I NEED TO HIRE AN ADMINISTRATIVE ASSISTANT?
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