The Ka-Ching Factor

It's the reason you open the company doors. It's the reason you put your feet on the cold floor in the morning. It's that magical sound you love to hear... ka-ching!

In such times as these, it's important to get back to the basics if you intend to keep hearing the ring of the register. Follow the basic rules of marketing: product, price, place and promotion. But to differentiate yourself from your competition, it is important to remember the small details that make a big difference.

Product – The key word in this aspect of marketing is usefulness. Whether it is a staple or luxury item that you are taking to the market, be sure that your customer is well aware of the excellent benefits of your product/service.

Price – Ensure that you are pricing your items effectively. It is not important to be the cheapest, but strategic pricing decisions are a must in order to maintain a competitive edge. Do not underestimate the role of pricing as part of your presentation package for your products/services.

Place – Accessibility is the name of the game. Make sure you are accessible to customers. Ask yourself: Is your building easy to find? Can customers quickly locate you online. If customers have access to you then they can purchase your products and services.

Promotion – Realistic advertising campaigns are critical to success. Any entrepreneur who has experienced success in their industry knows that they must appropriately promote their products and services. This does not mean that you have to spend large amounts of money but it does require a considerable amount of research to make sure that the dollars are going to the right place a desirable return.

Product; price; place; promotion.

Just keep these tips in mind and you will be no stranger to the ka-ching factor!