1. Strategy and planning are key
Strategy is key. A written Marketing Plan gives you your signposts to succeeding. First and foremost know your target market. If you aren’t sure because in B to C this can change quite quickly; you should check it. This is an easy process and if you are unsure how to approach it, a marketing professional will help. Build your new strategy centred on how to reach your target market into a 24 month Marketing Plan to be reviewed every 6 months. Plan your spend accordingly making sure that the budget lasts for the period of the plan because there is nothing more damaging to sales than suspending marketing effort if the budget runs out.
2. Your marketing spend must be effective
Put more budget behind the successful marketing channels and axe those that are dragging down your ROI. Put the surplus budget behind testing untried, but relevant marketing methods then test, evaluate, fine tune and repeat. A strategy for testing new methods of marketing your goods or services will open up new markets, improve your ROI and give you an edge over the competition.
3. Monitor what works for you
Every promotion that you carry out should be monitored for ROI (return on investment). This is easily achieved by ensuring that a unique response mechanism, call to action or promotional code is carried on everything you do. The use of QR codes is increasing so making sure that your QR (quick response) code takes customers to a promotional landing page on your website that records their details.
4. Stir up the Marketing Mix
Leave that comfort zone! Test relevant marketing channels that you have always considered but never taken the plunge! Try different offers, See what works. Evaluate the results, fine tune the targeting based upon the results then repeat. Your ROI will continue to improve and you will get to know your customer even better with every test that you carry out.
5. Your budget working smarter not harder
As soon as you really ‘know’ your customer well you will know how to develop customer relationships and which marketing channel is best to reach them. Testing should never stop and a proportion of your budget should always be set aside for this. Cutting out advertising and marketing that doesn’t work properly for you will free up a marketing spend that could prove far more effective so be brave – don’t put it off any longer!
If you like the 5 tips but need advice on approach, please email me: firstname.lastname@example.org I would be pleased to help.