Marketing can be seen as investing in the future of your business by meeting needs and providing benefits to your customers.
In order to make your Marketing effective and to get the results you are looking for, you need to take numerous factors into consideration and as Marketing is such a vast subject we have chosen a number of points to get you started.
How do your customers behave?
Before undertaking any kind of marketing, it is vital that you first understand the following for each product or service that you sell in relation to your customer:
- What are the key challenges & fears that your product or service will resolve
- What are the key factors used when making a decision?
- Who are the key decision makers?
- Who has the ability to influence the decision?
- What is the process for making a decision?
80% of the sales decision is based upon emotion
Where are you in the purchasing process?
No matter what product or service you sell, the various stages that your customer will go through to purchase it are pretty consistent, with the AIDA model shown below being the most well-known.
Creating brand awareness or affiliation with your product or service. Messaging tends to be brand and key proposition only. Go where the concentration of your target is at its greatest.
Interest of the Customer
Generating interest in the benefits of your product or service and sufficient interest to encourage the buyer to start to research further. Use case studies, videos and further information.
‘Emotional Connection’ showing your brand personality. Deal with what is stopping your prospect from buying. Use that ESP, or time bound promotions.
Move the buyer to interacting with your company and taking the next step, i.e. Downloading a brochure, making the phone call, joining your newsletter, or engaging in live chat etc.
Utilising the AIDA model, you will be able to identify where you are within the purchasing process and highlight the challenges that you need to focus your Marketing on, e.g. do you need to address any of the following:
- Do you need to make people aware of your service?
- If you are competing on price, how can you increase the DESIRE?
- People are interested in your product, yet not sure how you differ from the competition. How do you increase the INTEREST?
- You get lots of requests for price, yet not enough orders. How can Marketing increase the ACTION?
- Are the challenges different for each service or product?
Set S.M.A.R.T objectives
In order to make your marketing effective and to accurately measure the success, you must be specific on what you want it to achieve and what success will look like. To do this, set S.M.A.R.T objectives (specific, measurable, achievable, realistic and time bound). Click here if you would like more information on SMART.
When setting your SMART objectives, remember that the associated budget needs to be relative to the ROI you are looking to achieve and not just based on last year’s budget. Click here for more information on planning a marketing budget with your end goals in mind.
Achieve turnover of £100,000 of New Client Business in the next 6 months.
- What is my average transaction value?
- What are the costs associated?
- What is our conversion rate?
Average order value: £5,000
Conversion rate: 1:4
What do we require?
- 20 orders based on the average order value
- 80 quality quotes or sales meetings based on the conversion rate
How many people do we need to get in front of to obtain these 80 enquiries?
If we assume that 80 is 2% of a QUALITY audience targeted with your message, then we need to reach approx. 4,000.
Test and Measure
Once you’ve set SMART objectives, you can clearly and accurately measure the success of your marketing and, if it is not producing the desired results, don’t be afraid to think again and change the plan, remember; there is no straight, sign-posted road to success.
Examples of items you may measure include:
- Google analytics
- Top pages
- Referring sites / source
- Home page events
- Social Media
- Enquiry forms
- Newsletter sign ups
- Advertising signposts – landing pages
- Go online and sign up
- Dedicated phone numbers
- Specific codes to quote on order
- Presence in magazines/journals
- Referrals and Recommendations
There is no such thing as failure, only feedback
If you’d like more information on any of the above and how to relate it specifically to your business, we’d be happy to help. You can call us on 01302 590 560 or firstname.lastname@example.org.