Synopsis
If you serve a well-defined geographic market, the three keys to your success are location, location, and location. Anytime the three L’s are associated with your business, this is your number one organizing principle to improve your business model's sales and profitability.
Ignore where your target customers want to buy, and you won’t be in business for long
“Place” is the market’s location and includes the means of distribution used in reaching it. If you want more people to buy your product, you’ll need to focus on generating continuous traffic to the “place” your target prefers to transact business. Where you want to sell your product is irrelevant. It’s about where your customers want to buy it.
Simply put, place is where you and your customer transact the sale. Your marketing challenge is to generate continuous traffic to the place your target chooses to transact business, not where you want to do it.
Two of the seven organizing principles required to have a profitable business model are associated with “place.” The first involves knowing when your target customer will want to purchase your solution. Knowing the when focuses your promotion and sales timing so that the fourth principle, where positions you at the place your customer will want to purchase from you.
If you serve a well-defined geographic market, the three keys to your success are location, location, and location. Anytime the three L’s are associated with your business, this is your number one organizing principle to improve your business model’s sales and profitability.
On the other hand, if 100% of your customers purchase online from you, your focus is on driving traffic to your website. In this case, the where is the online marketplace. Customers have a lot of choices these days about how and where to make their purchases. Ignore their preferences, and you won’t be in business for long.
Would you like to know if your location is holding you back from making more money?
Don’t lose out on a sale because you aren’t where your customers want to buy. Click here to confirm how your location impacts your profitability. Within twenty-four hours of receipt of your P&L Statement for the last four years and your sales by customer by year, you will receive back by email your free assessment of what your location is costing you.
How much is your location holding you back from making more money?
Don’t lose out on a sale because you aren’t where your customers want to buy. Click the link below to confirm how your location impacts your profitability. Within twenty-four hours of receipt of your P&L Statement for the last four years and your sales by customer by year, you will receive back by email your free assessment of what your location is costing you.
FREE ASSESSMENT
