It’s a far-fetched notion, to be sure, but the noise is distracting you from some basics that you can control. Let’s refocus with a simple model – the 4 Ps of marketing.
Product
Are you changing your product? Has it changed over the past year or two? Defining your product, who needs it, what it can do for them, and how it’s different from similar items are all key to making it an attractive choice.
In this context, you can use the same questions to define services you provide. Will it save me time? Make me feel better? Improve my sales? Ask and answer questions about your product or service from the consumer’s point of view to describe the key features.
Price
It’s always a good idea to regularly revisit your pricing strategy. Start with your break-even price, making sure to include all related costs, and not just time and materials. Look at where your product or service falls in the marketplace. Is it top of the line or more like “it will do for now?” Both have a market segment. In today’s environment, an explanation of your pricing might be a selling point in itself. Any charitable aspects may also create
appeal.
Place
Where is your product or service available? Is this still your best strategy? You can make it more accessible or more exclusive by choosing a different mix of options. Remember that even if you don’t sell online, your website is still the best place to provide information to potential customers.
Promotion
Consumers haven’t stopped spending, so promotion remains an important task. You may want to spruce up your website, update your search optimization, or even launch a new ad campaign. We can help with that – both setting up the campaign and making sure you get the best return on investment.