SME Marketing: Some Common Blunders

Comprehensive marketing at a reasonable cost is what every seller dreams of. There is nothing like a good packaged deal conducive of factors like cost, after sales services, etc, which can guarantee business leads in a short span of time.

Moreover, the foremost role of marketing is to get prospective buyers talking about your company and your product. And this persistent interest leads to trade generation. Still, most of the SMEs find it difficult to turn this interest into trade leads, despite good marketing.

What can be the reasons?

Lets discuss in detail:

* Information overdose: When a prospective buyer reaches you, he/she wants to be pampered with exhaustive product information, quality product, good customer services, to say the least. However, there are instances when he/ she gets half-baked information and services. Thus, instead of what the customer wants from the product, the seller pays attention on what the product is all about.

Solution - Customer's want is the need of the hour!: Buyers will feel welcomed when you pamper them with customized solutions to their queries. For instance, if a client wants information on how your product can help him save power consumption, then you must stress upon that very feature of your product instead of listing all the salient features which may not be of interest to him. Try having two to three versions of leaflets and pamphlets of same product/ service, sorted by the its characteristics.

* Inept product prices: The general psyche of a seller is that a low priced product/ service can lure prospective buyers. However, today's buyer is market savvy and may not buy the theory of 'Low Price = Value for money = Good deal' as price is not the sole purchasing criteria anymore, but a part of the bigger picture.

Solution – Focus on quality of service, not just the cost: Do not make 'Low Price' as the sole advertising criteria of the product. Instead, promote it on the basis of quality and relevancy. Moreover, timeliness also plays an important role in product promotion. Offering right thing at the right time is the key to success. You can get a market survey done (or perhaps do it yourself) to gauge your target group's preferences. This will help you market your product/ service with a more focused approach.

* Communication gap: Every business succeeds on the quality of customer services it provides to its clients. Imagine your inbox full of business queries while you hibernate in your cocoon. Customers expect quick response from the seller as and when they want it. And the seller must entertain them on a priority basis as customers are an impatient bunch.

Solution - Bridge the gap: Be pro-active and keep the buyers updated on latest offers and schemes initiated by your company through newsletters and e-mails. This way, you'll remain in their sight. In addition, the seller must quickly respond to business queries from buyers and be specific in his communication.

Nowadays, clients want product satisfaction and would not flinch even for a second before paying a good price for it. So, respond to them with good customer services and laugh your way to their good books, and to the bank, ofcourse!