Loss Leaders

Finding new customers can be difficult and expensive. As you look at your customer acquisition strategy, you may want to consider the classic “Loss Leader” approach. The basic idea is that customers will spend more money on additional items, offsetting losses created by under-pricing the lead item. The idea behind using a product for promotional…

The Marketing Plan: Essential Elements

The marketing plan is a critically important part of the business plan for a new business owner. Even if you don’t include a detailed marketing plan in the business plan, you absolutely need to complete one before formally beginning your new business. There are many elements of a good marketing plan, and you’ll want to…

Unique Selling Propositions

When you start your business, you will probably be competing with a number of other companies. Why should customers come to you instead of them? The trick to setting your business apart is creating a Unique Selling Proposition. The Unique Selling Proposition, or USP, informs your entire marketing and operational strategy, and is key to…

6 Tips to Get Customers to Come Back Again

Every business is always looking for one more customer. However, a new customer isn’t always the best answer to growing your business. Your existing customers are every bit as important to improving your growth and profitability. Existing customers are your best prospects. Turning a one-time customer into a regular and loyal customer is incredibly valuable…

Personalize Your Branding Strategy

One of the principal shortcomings of businesses is their failure to establish a recognizable brand. The easiest way to remedy this issue is to capture the attention of consumers by distinguishing your business from the competition. Here are a few ways to demonstrate uniqueness by implementing personality into your brand along with examples of companies…

Diamonds & Guns

Diamonds and guns… Hmm. This combination seems as strange as Paula Deen giving a lecture on how to prevent diabetes or hiring Kim Kardashian as the next host of “Are You Smarter Than a 5th Grader ®.” The two just don’t seem to work together. Or do they? In 2012, an Atlanta jewelry chain, D.…