Marketing

    The commercial processes involved in promoting, selling and distributing a product or service. It's not just a department anymore!

How to Grow Your Business With Low Cost Marketing – Success Leaves Clues

When seeking to operate a thriving business, undoubtedly, the marketing aspect is an essential part of keeping any successful business in operation for the long haul. Many companies spend hundreds of thousands of dollars to analyze Return on Investment (ROI) for their efforts in marketing and to determine which avenues of marketing will be most beneficial to their overall success and longevity while maximizing their allocation funds for marketing. However; some very successful businesses survive quite well on very little or no marketing at all. While this is a unique situation and does not work for everybody, it is worth exploring. How do these companies stay in business, much less become successful?

Motivational speaker Tony Robbins asserts in his ‘Personal Power Program’ that “success leaves clues.” One successful business owner who has shown marked success over time is a man named Stew Leonard. Stew began his dairy and food store in Norwalk, Connecticut in 1969, along with 7 employees and built a financial empire. With current annual sales of approximately $300 million and some 2,000 employees, Stew Leonard’s ‘Stew’s’ is still going strong. Stew’s is the world’s largest dairy and food store; it is also the Guinness Book of World Records “greatest sales per unit area of any single food store in the United States.” When Stew was asked where he got all the good ideas he answered, “We learn from our customers. We’ll try any new ides – no matter how harebrained the idea sounds.” Customer comment boxes are located conveniently throughout the store and are emptied and read at the end of each closing day. Stew’s willingness to do things unconventionally and mindfulness to always listen to the customer are the primary and fundamental ways he markets his business. At the entrance of each of the Stew’s locations there is a slab of granite with a saying inscribed that reads: Rule 1: The Customer is Always Right! Rule 2: If the Customer is Ever Wrong, Reread Rule 1. Stew’s determination to stay connected to his customers is what has driven his business to great success. Furthermore, each employee understands Stews vision and that “customer service cannot be a sometimes thing. It must be earned and re-earned every day.”

Another successful company, that spends very little on advertising and marketing is Costco Wholesale, and yet somehow has become a household name. The founders of Costco also understand the importance of listening to their members. Each location has a customer comment box and the comments are handled on a daily basis. Customer comment cards are also read daily by the Regional Buying Office and suggestions for new products, as well as return of old products, are seriously taken into account. Phone calls to the members who have questions or concerns are also made by the warehouse and buying office staff. By keeping advertising costs low, Costco is better able to pass on savings to their members.

Both of the aforementioned businesses see the use of a Customer Comment Box as an essential part of their growth and success. It is also believed that if one person makes a suggestion or a comment, there is likely 10 to 20 other customers who will not take the time to say anything; they will simply take their business elsewhere. If a business owner loses sight of the customer, we begin lose everything.



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