Jacques van Heerden, CEO of Gryphon Enterprise Development, led the meeting, dividing the tables into four groups.
Each group was assigned a captain and asked to discuss the elements of profitable marketing, what creates poor marketing and how to tackle these issues.
A measurable rise in sales, focused advertising, a budget for marketing and strong market research were seen as the most important elements of profitable marketing.
The groups came up with several reasons why marketing is often not profitable:
• Not enough budget
• Shotgun approach (not knowing your audience)
• Poor research
• No vision for the business or marketing
• Overkill with the message or graphics in an advert
• Not listening, either in person to the client’s needs, or to the market
• Poor planning
• Staff not being educated on the products/services.
These are some of the solutions the groups put forward:
• Do more market research
• Use social media more for advertising, as it’s more cost effective (but don’t ignore traditional advertising)
• Focus as an entrepreneur and use a business coach if necessary
• Create a strong budget for advertising, and don’t cut it down too much during tough times
• Word of mouth is a strong form of advertising and to get this you must push the quality of your services and products, as well as create specials for those who bring referrals
• Brand development is an important point in marketing
• All staff should have knowledge of the products and services offered, so that a potential client can ask anyone for assistance
• Preparation, whether for a meeting with a potential client or for a peak period of business, is a good way to improve marketing.
Also read:
Business always has something new to teach you
Follow us on these platforms:
Like our Facebook page and follow us on Twitter.
For news straight to your phone invite us:
WhatsApp: 079 431 1217
Instagram: benonicitytimes.co.za
