- What are the Four P's of Marketing?
- What is the difference between Marketing and Advertising?
- What is one of the biggest Marketing mistakes small businesses make?
- Does my small business really need a website?
- What is Search Engine Optimization (SEO)?
- What is Pay-Per-Click (PPC) advertising?
- What is Customer Relationship Management (CRM)?
- I run a small business and I don't have that many customers. Why do I need special software to manage them?
- What CRM software do you recommend for my small business?
- Does my small business need a server?
FAQ #1: What are the Four P's of Marketing?
The four P's of marketing are the marketing variables that marketing managers can control in order to best satisfy customers in the target market. This is known as the marketing mix. Below is a quick overview of each of the variables that make up the marketing mix:
- Product – The physical product or service offered to the consumer. Includes function, appearance, packaging, warranty, etc.
- Price – The list price of products, discounts, rebates, financing, leasing, etc.
- Place – Distribution. Includes channel member selection, market coverage, logistics, etc.
- Promotion – Communicating and selling to potential consumers. Includes sales efforts, advertising, public relations, media types, etc.
FAQ #2: What is the difference between Marketing and Advertising?
In 1992 Bovee defined advertising as "the non-personal communication of information usually persuasive in nature about products, services or ideas by identified sponsors through the various media". While advertising is part of any marketing plan, marketing is much more than strictly promoting how you sell your products or services, but also the way your receptionist answers the phone and how you set up your internal company culture. In addition, it's the strategic and tactical aspects of identifying and segmenting your ideal customer base, discovering your competitive edge and unique selling proposition (USP), setting your pricing strategy, sales strategy and promotional strategy, creating and tracking a system for repeat business, and testing and measuring all of these to leverage effort and maximize ROI.
FAQ #3 What is one of the biggest Marketing mistakes small businesses make?
Forgetting to market to existing customers and prospects is one the most frequent and biggest mistakes made by small businesses. For businesses that have moved beyond the startup phase, there's no better or quicker way to massive growth than your current customers and "warm" pool of prospects. Generally, it costs up to six times more to get a new customer than to sell something to an existing customer. Many businesses get so caught up in chasing new markets or customers, they forget the goldmine that exists within their current business. Don't make the same mistake; develop strategies to tap into what could be your most valuable--and profitable--resource.
FAQ #4: Does my small business really need a website?
Not having a website can be a BIG mistake! Customers are continually searching the internet looking for products and services. And rightly or wrongly, they often judge whether or not to do business with your company on the basis of your website. If you are a small business owner and have a less than great website or no website at all, you are missing a great opportunity to be there when potential new customers are looking for your products or service. You're also missing out on an opportunity to tell your story in a fun and engaging manner. Customers are looking on the Internet for what you have to offer. Will they find you?
FAQ #5: What is Search Engine Optimization (SEO)?
Search Engine Optimization, or SEO, is the active practice of optimizing a web site by improving internal and external aspects in order to increase the traffic the site receives from search engines.
FAQ #6: What is Pay-Per-Click (PPC) advertising?
Pay Per Click, or PPC, advertising is an Internet advertising model used on search engines, advertising networks, and content sites where advertisers pay their host only when their ad is clicked. With search engines, advertisers typically bid on keywords or phrases relevant to their target audience. Content sites commonly charge a fixed price per click rather than use a bidding system. PPC advertising can help your business reach people looking for information about your type of products and services online. With PPC campaigns, you can easily control your budget and target prospects geographically.
FAQ #7: What is Customer Relationship Management (CRM)?
Customer Relationship Management, or CRM, represents a business strategy as well as a technology solution to create and manage long-term relationships with customers. CRM solutions focus on three key business areas: Sales, Marketing and Customer Service. By organizing key business functions, CRM helps to improve employee performance, streamline marketing and enhance customer service. While technology solutions enable CRM, building customer relationships is a commitment by business owners to focus their attentions on the customer.
FAQ #8: I run a small business and I don't have that many customers. Why do I need special software to manage them?
CRM can benefit a small business by consolidating customer data into a single system. As a business grows, keeping a record of all transactions can become overwhelming. CRM tools allow you to manage your customer interactions more efficiently, so you have more time to focus on your service or product.
FAQ #9: What CRM software do you recommend for my small business?
There are many CRM software packages available for small businesses. Intevant specializes in helping you choose and implement the right solution for your specific needs and budget. We also recommend products based on a number of other factors, including: ease-of-use, customization, and ability to easily migrate to other CRM software when growth demands it.
FAQ #10: Does my small business need a server?
Having a server can improve your day-to-day efficiency by providing a central repository for storing and sharing information and applications. If you need a corporate style e-mail, calendar and contact system, then a network server will be needed to run such a system. In general, if you have more than three or four users, a network server is a good idea. Intevant specializes in implementations of Microsoft Small Business Server which bundles services like file and printer sharing, group e-mail, remote access, and more in one affordable package. |
