10 Steps to your Business Elevator Pitch

You have one minute to communicate the essence of your business to a complete stranger. Can you do it?

The expression ‘elevator pitch’ comes from the scenario of meeting a stranger in an elevator where you explain what it is your business does in the hope of securing a further meeting. Think of it as a ‘verbal business card’ that you leave with people.

The ‘elevator pitch’ is a verbal business card.

The Message

Your pitch has to be quick, about one to two minutes, and crystal clear as there is no time for clarification. It is a micro-presentation of your brand so it has to […]

Your Unique Selling Proposition (USP)

Does your small business have a Unique Selling Proposition (USP)? Do you understand why customers buy from you and not the competition? If you want to maximise your sales you need to know your USP!

The marketing concept of the Unique Selling Proposition has been around since the 1940’s when it was recognised that TV adverts which made unique claims of their products were more successful. These days the phrase is applied to other areas of business to mean a differentiation from similar alternatives.

What is a Unique Selling Proposition?

A Unique Selling Proposition (USP) is the reason that you give for why people should buy […]

Your Small Business Pricing Strategy

When was the last time you reviewed your pricing strategy? You put a lot of effort into making your business successful but get your pricing wrong and you can be missing profit on every sale!

Here are 16 ways that you could be pricing your product or service.

Pricing Strategy Matrix

The pricing strategy matrix shows four pricing strategies based on the relationship between price and perceived quality.

Pricing Strategy Matrix

1. Economy pricing

Costs are kept to a minimum and price is set as low as possible because there is no difference in the products […]

4 Steps to Selling your Small Business Product

Selling is the reason that your small business exists. If you’re not selling you’re not in business.

AIDA is an acronym that is used in advertising and sales that stands for ‘Attention’, ‘Interest’, ‘Desire’ and ‘Action’. It is used in combination with the ‘Sales Funnel’ also known as the ‘Purchasing Funnel’.

The model recognises that as people progress from initial advertising to the point of purchase that the total number of potential customers decrease. For example you advertise to win the attention of the total market but only some of the market shows an interest, and then even fewer have the desire to own the […]

4 Keys to Marketing your Small Business Offering

When was the last time you reviewed how your small business is promoting and selling to your customers?

The ‘Marketing Mix’, also known as the ‘4 Ps’, is used to review your product or service. A review may take place as a one-off exercise or as part of an annual review of your business strategy. The four elements of the ‘Marketing Mix’ are ‘Product’, ‘Price’, ‘Place’ and ‘Promotion’.

Marketing Mix for Small Business

Product

  • Physical – feel, colour, sizes etc
  • Benefits provided
  • Brand
  • Tangible and Intangible elements
  • Packaging
  • Warranties
  • Product development

Price

  • Value or quality
  • Value of benefit provided
  • Market segment pricing
  • Customer […]