Is Your Marketing Really Working? Here Are Some Free Tips.
Increasing sales revenue should be an ongoing goal for every business. One problem we see is where businesses waste money on their marketing and advertising without realising it. We regularly discuss these issues on behalf of clients with marketing and advertising agencies and they explain these errors normally occur for a few reasons outlined below. Not clearly defining your product or service One of the most basic rules is marketing. Clearly define what you are selling. If you can’t tell someone in a single sentence what you do or sell then how can you expect them to identify their want or need and buy from you? Not identifying your target client Who buys your products and services? How and when? Your existing systems should capture this information and allow you to analyse and understand it. If you don’t correctly aim your marketing at your target clients then you will be wasting your marketing spend. Not using the most appropriate communication method From the previous point, different generations use different media to communicate and get their feed of news and information. For Example “Baby Boomers” prefer to read newspapers and watch TV whereas Gen X prefer the internet and Gen Y prefer social media and chat rooms. Now Gen Z are coming to the fore and they’re different again. Who is your target audience? Not clearly communicating your offer and call to action What is it you are actually selling? What product or service at what price, where? Clearly define what it is you are selling and for what price. Get the customer hooked in and make sure you include a “call to action”. This is the “Call us now” or “Visit our showroom today” message. Tell the customer what they have to do to get your product. Not utilising free and cheap marketing methods You can spend all the money in the world on fancy advertising campaigns but there is no better value for money marketing for your business than a “raving fan”. Word of mouth, client referrals and repeat business are the most efficient and cost effective ways to generate revenue growth. It has been proven to be up to twenty two (that’s right – 22) times cheaper to sell to an existing client than it is to sell to a new client. Marketing agencies are well versed in the technologies that can be used cheaply to contact your clients. Social Media such as Facebook, chat rooms, e-newsletters and search engine optimisation are some of the key tools in modern marketing that you could be using to generate and emphasise “word of mouth” and “client referrals”. Other tools such as guerilla marketing, viral marketing and shill marketing are also useful and can provide excellent results for a relatively small cost. These marketing methods do depend on what industry or profession you are in. For example it would possibly be unwise to post a humorous video on YouTube if you were a reputable law firm trying to generate new clients but it might work very well if you were in the Wholesale/ Retail trade selling skate boards aimed at teenagers. Our suggestions: You don’t know it all! Engage an Experienced Marketing Agency Remember you might be great at what you do but you are not necessarily a marketing guru! Get the assistance of a reputable marketing and advertising agency to help you. There are some great boutique agencies around that can and will help businesses like yours achieve fantastic professional results without the need to spend millions. Great a Practical Marketing Plan Review your overall marketing objectives and your plan to achieve these. Make a practical “to do” list to ensure you are covering the bases. Regularly review the “to do” list and the work done to ensure you stay on track. Persistence is key. Just remember you don’t need to have a massive corporate looking marketing plan. A practical plan that suits your business size is best. Gather Your Customer Demographics Use your current systems to capture and analyse your current client data. Even systems such as MYOB or QuickBooks have the functionality to capture this information easily. If you understand who buys from you now and why, you will be well on the way to understanding how to market to other potential clients in the same demographic group. Test and Monitor Your Marketing Campaign Once you have decided on a marketing campaign you should test it on a small sample of potential target customers if possible. This way you can get feedback and quickly change and improve the campaign if needed without potentially jeopardising the campaign as a whole. When you have implemented a marketing campaign make sure you monitor it and measure the response and results. If it works well done, leverage this going forward. If it doesn’t, why not? Get feedback and make sure you learn from this. Understand The 90 Day Cycle It is human nature to forget previous details of things such as meetings or offers. It has been proven the magic time limit is ninety days. Experts in the sales and business development field recommend you keep in touch with clients and potential clients at least once every ninety days. Whether it’s a phone call, an email or a visit for a coffee or you take them to lunch, ninety days/ three months is the key figure. By doing this you keep upper most in their mind and fresh in their memory. Customer Service and Delivering on your promise is Key Ultimately you have to deliver what you said you would deliver or your clients will walk away. How many times have you experienced bad customer service and vowed not to return to a shop? As an smart man once said, you can have all the fancy campaigns and marketing in the world but if you ultimately can’t deliver good products and services to customer expectations then you will probably fail. For further information on our services or to arrange a free, no obligation discussion on how we could help you and your business please contact us. Scott Lyall CEO of Avegna