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Key Idea: Sell, Sell, Sell

Owner of Texas Jet, Reed Pigman, sells with service.

Key Question:

A: 

Increase your percentage of repeat customers because finding and selling new customers costs much more than getting a customer to come back.

Not every business owner loves marketing and selling; yet, if they don't, they have someone in their organization who does. Marketing is creating interest-- sales is closing the deal. The two work in tandem. Urocor was founded by an academic, a scientist. He invented a testing process for prostate cancer. But, it took a new a CEO and a vice president of marketing to take the company from debt to fast growth.

The task of sales and marketing can be approached in many ways as we have learned from the hundreds of business owners we have studied in depth here in Small Business School. Depending upon the business model, the personality of the owner, the industry standard and the overarching vision of the company, strategies vary. Marc Katz demonstrates that defining to the marketplace your unique selling proposition is useful and perhaps the best and only way for a small company to truly compete.

Q:  What is the difference between marketing and sales?

A:
Marketing is the big topic of attracting customers. Selling is a small part of marketing. Marketing is getting the word out while selling is actually asking someone to buy. A restaurant places an ad in the paper with a coupon for a free salad with an entre order -- this is marketing. When the customer is in the restaurant, the waitperson may ask, "would you care for espresso, dessert or an after-dinner drink?" This activity is selling. If you can't market and sell, you can't have a business.

The eight functions of marketing are:

Creating awareness
Building traffic
Generating leads
Qualifying leads
Selling directly
Providing service
Customer dialogue
Building loyalty


Keep marketing simple: Think of the four P's. Although marketing seems to be mostly about promotion, you have to know your product, understand what is behind the price, and work with all the sales channels, or the places where the product is sold. So, the four are:

Product... What is your product? How does it compare?
Price... What is your price? What are your costs? What are your projected campaign costs?
Place... From where is the product being sold?
Promotion... What's your offer? What's the pending event?


If you have these four things, you have a marketing plan. Now what you need to make sure of in the marketing plan: that your price adds value to your product; that the place you sell it is convenient; and your promotion tells the people what the value is. You don't have to make it complicated; but if you don't do a marketing plan, you aren't going to succeed unless it's pure luck. And if it's pure luck, you won't be able to repeat it because you don't know what you did.

Think about it

What is your unique selling proposition/competitive advantage, or, how do you differientiate yourself in the marketplace?

Clip from: Staying Power

Key Questions about business: What makes a business work?  Why do some make it while so many fail?  And, in the USA, why are there so many business start-ups every year?  How does a business make it beyond the first year? ...third year? ...and fifth year? These are benchmarks. Milestones. Most startups do not get past them.

So, when these veteran entrepreneurs answer the question, "How did you do it?," there is a lot to learn.

This television special outlines the common qualities found in companies that make profits for decades.

Go to all the key ideas and video of this episode...
Go to the homepage for this episode...

Texas Jet

Reed Pigman, President

200 Texas Way
Fort Worth, TX 76106
8007764547

Visit our web site: http://www.texasjet.com/

Office: 8007764547

Business Classification:
Transportation

Year Founded: 1978

Sell, Sell, Sell

HATTIE: Number 8. Have an effective sales and marketing effort. At Los Angeles-based Renegade Animation the sales job is outsourced to a New York agent.

VOICE OVER: Scott Mooney of Country Supply uses the mail to reach his 400,000 horse-loving customers.

Cafe Pilon sends one of the owners in person to call on major accounts.

Ziba Design gets plenty of attention by winning awards.

And Wahoo's Fish Taco supplies free food for events attended by its core customers-- surfers.

Texas Jet's selling strategy is based upon delivering excellent customer service that assures repeat business. Customers like these keep coming back.

Customers: How's it going? Good to see you.

HATTIE: (Voiceover) Let the team at Texas Jet throw out the red carpet and bring your ground transportation right to the door of your airplane. No lines, no crowds, no delays, red carpet treatment all the way.

PILOT: (Voiceover) When we pull up on the ramp, they come out and, you know, roll out the red carpet for us, literally.

HATTIE: (Voiceover) Reed Pigman developed Texas Jet out of Piper Southwest, an aircraft sales company he purchased in 1978. Today, he operates 13 hangars totaling more than 225,000 square feet and supplies two-thirds of the fuel at Meacham.

REED: They're buying fuel, but what they really want is not the fuel. Obviously, they need the fuel to make the airplane fly. But they want the other amenities that we offer.

I can't just be okay, I have to be excellent. I have to be excellent at what I do.

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