Once you have decided on the target market you are approaching and how you are truly different to your competitor in that market place (both covered in previous blogs), it is then time to evaluate and choose the marketing strategies you are going to use. One of the biggest frustrations we find when speaking to business owners is that they choose the next marketing strategy based on gut feeling or the best offer they can find, in some cases even reacting to a great offer over the phone or online without considering if it gets them to their desired target markets. We work the opposite way, once you know your target market you then need to research which strategies will get you in front of them in the best way possible.
When selecting your next strategy there is a few points to consider:
Start where your chance of success is best – Start your marketing on more direct strategies. Getting you in front of your customer with a more direct approach should create more awareness for you and use strategies that are different but compliment other strategies that are already working.
What are you looking to achieve – What results are you looking to get from the new strategy? Are you looking to attract people to your showroom/website or are you looking for them to purchase directly? The different outcomes will require different marketing strategies, for example using a leaflet to attract your prospects to your showroom or website could be great, however getting them to buy directly from the leaflet could be a tall task. Be clear on your objectives. If you have a high value product or service you need to demonstrate this through your marketing.
Multiple strategies to convert a customer – Start to understand how your customers buy from you. Do they need to see you multiple times before they start to notice and trust the message you are portraying to them? On average, a customer needs 7 touches before they will buy. Build your marketing around this. You should have a different marketing plan with multiple strategies for each target. Where does your target go to shop? What media do they use to find the products and services they want to buy? Make sure you cover all bases that are relevant to your target market.
Visibility marketing – A lot of business owners that we meet ask us about ‘Visibility Marketing’, and although I believe in multiple touches, some visibility marketing I see is questionable. The best way to know if it is working is to test and measure the results from each strategy. I do however believe that visibility marketing, if done correctly, can add to the number of touches your prospects receive. Social media is a great example; it is very cost effective and can produce some great results, however this needs to be approached in the same way as all other marketing activities – be specific and direct it to the audience you are looking to attract. Radio is another great example. It can build great visibility if done correctly but your message must be right. Don’t buy into any strategy on the basis it will improve your visibility, do your homework. For example, does your target audience listen to the station you are looking to advertise on?
Your Marketing Mix – When looking at any marketing plan make sure your build a number of different strategies into your plan. This should allow you to get better consistency and not become reliant on one type of marketing to build your customer base.
As always remember with any new strategy you run or edit testing and measuring is the only sure way to know if it truly is working and getting a great return on investment.