One of the most powerful tools in marketing is also one of the least mentioned. Ladies and gentlemen, I am talking about the marketing value of feedback.
Marketing feedback
The fastest and most accurate way to guarantee you are giving the marketplace what it wants, is to ask the marketplace what it wants! This feedback is gold dust for your business, if you use it.
Of course, rather than actually get a discussion going with their prospective clients or customers, most small businesses simply copy what their competitors are all doing. It’s easier and feels safer.
Here’s the problem with that approach: It doesn’t work! You see, the only way you will ever uncover that great niche product or service, which will triple your profits and get you that big house you’ve always wanted, is if you stop copying what the others are doing and start offering what the marketplace actually wants.
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Another great post Jim. Thanks!
I think most companies are guilty of being too generic. Think how many providers in your town look so alike that they might as well be invisible.
Rachael,
Thanks for the feedback. I agree, most companies are so alike that the only way that customers can tell them apart is their price or fee.
I am so glad that I’m not the only one that sees feedback as important as I do.
Before I start on a new marketing campaign, we always try to ascertain that we’re addressing the real needs of our customers.. not the perceived needs that we *think* they need.
Only feedback will tell us what they really think and need.
Thanks for posting such a valuable blog post on it
Feedback to You Jim:
I just noticed how my Twitter username is used on your blog.
I LOVE the “follow me on Twitter” link next to my name in the post above.
Sorry about the double comment post, but I couldn’t have noticed my own comment any other way.
Matthew,
Thanks for the comment – well, both comments
You can certainly make money by copying what others do, however it is not truly fulfilling when you do not do things your own innovative way. There is no feeling like that of succeeding with a new idea that has never been tried before.