Statistics show that 96 percent of all businesses fail during the first ten years, with 80 percent failing within the first two years. You may have known that, and, as a business owner, you may have shrugged your shoulders and said this is how business works. But what if it wasn’t all just fate or good luck or whatever you want to call it? What if you could get a hold of the way you are currently doing business and change not only your own perception but also the clients’?
You could go on and research the five or more common reasons why businesses fail and try to learn from others’ mistakes. But what if there was a better and easier way called educational marketing? A lot of experts have theorized about it, one of the big strategists of the world Chet Holmes included (he provides detailed data and practical scenarios for businesses to put together this strategy). And although it may appear to you as just a bunch of time consuming tricks, find out it isn’t. Continue reading “Educational Marketing: What Are Your Business Growing Objectives And How Do You Achieve Them?”
Let’s look at this scenario together: Imagine two retail stores open up in the same area at about the same time. The owner of the first store decides to approach sales in a tactical way; so when you enter their store, they will try to sell you a product, no matter which. Basically all their marketing efforts will be focused on this direction. The result? A steady growth of about 10 percent a year. The second store has an owner who sees things in a different way: he has decided to put together a strategy to attract customers. So when you enter their shop, you will not be met by a sales person with a product in hand telling you what a wonderful discount they have for it. You will meet someone who will tell you more about the shop’s history, the owner’s devotion to service and how well they are educated on all the retail products in the store. So, you basically can ask them anything and you will get more than a sales pitch.
Now, this is called educational marketing and it can work wonders for your firm. In what way, you may still skeptically ask. But the answer is so obvious. You will manage to create brand loyalty. Because, in the story I was telling you above, the second store managed to build a large and loyal following. They didn’t just go for the 10 percent increase in sales; they have steadily created a community. People developed a long-lasting relationship with the store, and they would go there not for the small prices but because they have trust. Continue reading “Embrace a Solid Educational Marketing Strategy and Steadily Grow Your Client Base”