I was recently asked to explain the concept of “marketing wheel”. I had to stop and think. For a moment, I thought of a steering wheel that helps entrepreneurs stay on course, but then remembered that there was no need to “reinvent the wheel”, there is a term like “marketing wheel”. I prefer to call it a “marketing loop” instead as it seems to be a never-ending process.
First, discover and get to know your ideal customer and your marketing environment.
Secondly, customize your product or service to address your ideal customer’s needs without forgetting your marketing environment. Don’t forget to observe and learn from your competition!
Then you create marketing messages that grab attention, motivate and move your ideal prospects towards making a purchase. This phase can be longer than expected and some “fish” that take your bait need to be thrown back into the water…
Close the sale, but don’t stop there. Customer service starts at this point. If you do it right, the initial sale may lead into repeat business and referrals.
Talk to your customers to find out what they need and want. Use your findings to improve your products and services as well as marketing messages.
Then do the same thing over and over…..Welcome to the Small Business Marketing Loop!
Dont’ become a victim of Wheel of Marketing Misfortune.