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Glossary keyword - TENX Marketing

TENX Marketing

10X marketing is about achieving tenfold growth in a week, a month or a year. Usually, businesses, especially large corporations grow as little as 10% a year and call it a success. This might be normal for big companies; however, for startups, it is not. 10X marketing is the idea of becoming ten times better or close the company. That is the whole idea of this phrase. It states that growing 10% a year is not enough. People with a TENX marketing strategy should make their sales, profit, customer satisfaction level or other factors go through the roof.

TENX marketing is also about ten marketing components you should consider to achieve tenfold growth. Each of these tactics is shortly discussed  below:

Market research - you should carefully research the market before going all in. You need to collect relevant pieces of information and understand what can affect your business and sales. You need to do research about the dynamics of the market, its seasonality, customers and their buying decisions. It is vital to determine what other businesses are already selling the same product as you will sell. This way you can spot some gaps in the market and see the problems with other companies. Then you can analyze these issues of various companies with identical products and see what you can do to resolve the issues and stand out from the crowd. 

Targeting the Audience - Targeting the audience is choosing a segment of people with similar characteristics who share common things that are highly likely to benefit from your product. Targeting will help you focus on a specific group of people who have more chance of becoming your customer and buying your products or services.

Product - You should describe your product to your potential customers and show what advantages does your product has. You need to give people a reason to choose your product instead of similar products that other companies sell. Thus, giving people a reason to pick you is the key. 

Competition - You need to be able to describe your competition and show your unique value proposition. Finding your unique value proposition and promoting it to your customers will make you stand out and attract more customers. 

Mission statement - Your company has to state its mission, such as what you are selling, who you are selling to and what is your unique value proposition differs you from the others.

Marketing strategies - Identify the marketing strategies that you would like to use now or in the near future:

Networking - go near your market
Web site
Advertising - directories, print media
Direct marketing - brochures, sales letters, flyers

Direct/personal selling
Trade shows
Publicity/press releases
Trade shows
Training programs - to raise awareness

Pricing - Determine your pricing beforehand. To determine the optimal price for your products or services, you should do throughout research the industry you are in and then decide.

Budget - Your level of strategy highly depends on your budget. If it is quite small, then you need to be more creative to achieve the best results because you don’t have the money to spare.

Goals - You have to establish some goals in advance to see how you are progressing. 

Track the results - you need to analyze and do tests continually. The number of sales, leads, visits, the return on investment and conversion rates have to be monitored while you do TENX marketing.

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