Want 10 times more impact from every marketing dollar you spend? If so, check out these 9 key factors that will allow you to maximize your marketing budget and dominate your competition… These 9 keys are ideally meant to work together, but you can start with just one and add the other in later.
1. Is my marketing aligned with the strategic objectives of the company?
First off, if your company doesn’t have strategic objectives, you are in trouble! Worse than that, if your marketing isn’t aligned with where you want to go as a company, you are just wasting your marketing dollars.
The first key here is establishing clear objectives for the company. Get this done at the beginning of each year. But just get it done. Your next question may be, so what’s a strategic objective look like? If so, here are a few for an ink and toner manufacturing business: We want to capture 50% of the market share of small businesses in our company who buy ink and toner. We also want to position our company as locally owned and operated experts in our market. We also want to educate our clients on the environmental impacts of not using a service like ours. We want to increase our revenues 25% over last year.
Those are just a few strategic objectives for that business. I suggest between 10 and 12 per business per year. But understand the impact of having this on your marketing. Once you understand what you want to accomplish, you can then build your marketing campaigns around those objectives. This puts your marketing and your business in harmony and allows you to be more effective.
2. Do I communicate the SAME clear message through my: Marketing, Business, Customer Service, Website, and Staff?
This one is pretty simple. Do you have the same message being broadcast in all the areas of the business? The odds are that every area of the business and even each marketing piece are all selling something different. One of the most important keys of marketing is having a clear message.
For example, if you are Jewelry Store and you want to sell diamond rings, your direct mail needs to focus on diamond rings. Your website should educate buyers on the value and how to properly select diamond rings. Your website should mention the direct mail ad directly or indirectly and connect with that message. Your staff should talk about diamond rings with everyone they meet and your business should have strategic objectives around how you will sell more diamond rings. One more, your customer service team should be TRAINED on handling diamond rings, cleaning them, and educating the customer in even greater detail on the great purchase they made.
3. Do I engage my customers the way they want to be engaged?
This is where most businesses completely veer off track. If you remember nothing else from this post, remember this. Just because you can put a cheap ad in the paper or hit 10,000 houses for dirt cheap with direct mail — doesn’t mean you should! You have to understand HOW your buyers want to be communicated with and then engage them PRIMARILY in that way. The secondary way/s is also very important and I cover that in my next point.
So how do you know the best way to engage your clients? The first thing you can do is poll your current clients. Ask them how they like to be communicated with. And start with your best or top 20% of customers first. These are your ideal clients and the ones you want the more of. So talk to them and find out what works best for them. The next thing is to study your ideal client by making a list of their characteristics. Then you move on to practical things like testing your theories. It sounds much more complicated than it is.
My main point here is that if you want to be successful in business, you will find out HOW your customers want to be engaged and then you will do it! Because I can guarantee you one thing… If you choose NOT to engage your buyers the want they want, they will find another business that is WILLING to engage and communicate with them they way they prefer. In this global economy, even the local jeweler isn’t the only game in town. People are one Google search away from 20,000 businesses that do what you do and one of them is bound to do what they ask. It might as well be you.