Do you spend a lot of money on marketing without results? Having a great expensive website is one thing, but making your website work for you is another. It is important for any business, regardless of the size and type to develop a marketing strategy. Marketing entails more than just a great logo and website; it is more about the corporate image and identity of your business and the language you use to attract customers. Its not about printing pens and cups with your name on it because that by itself leads to marketing without results.
There are a number of ways to perfect your marketing strategy and obtain a high return on your investment.
- Your Website: Think about your website. Is it targeted to the right audience? Who is your target market? Whether your customers are mostly consumers, government agencies or other businesses, the messaging must be tailored to each one and thus should be different.
- Social Media: Do you have a strong social media presence? Does your activity on platforms such as Facebook, Twitter, LinkedIn and other Social Media generate traffic to your website and increase your revenue?
- Networking: Networking is key for many businesses and industries. Think about joining local networking organizations such as BNI and your local Chamber of Commerce and develop a networking strategy. Attending networking events with no goals and no specific action plans will be a big waste of time and money. Be active in the organizations you belong to; go to networking events with a goal in mind, a number of people to meet; develop relationships with the people you met by following up with them after the event.
- Keep your customers informed: How do you keep your customers informed and interested? No need to bombard them with emails and newsletters but once in a while, let them know of changes in your business or the industry, keep them informed on special promotions, or just let them know you are there when they need you.
Creating a comprehensive marketing strategy should encompass a market plan through an understanding of your company’s products, price, place, and promotion, known as the “four Ps;” while integrating your company’s “four Cs;” consumer, cost, communication, and convenience. In order to increase your marketing return on investment, it is important to consider the following elements:
- Branding: the identity of your organization is your most important asset. It should carry the quality and value of your organization without uttering a word.
- Consumer research: knowing who your customers are is essential and should serve as the basis for your marketing strategy. It is important for you to understand the type of consumer you attract and how you can maintain the level of loyalty needed on an ongoing basis.
- Pricing Strategy: determining the best price for your products and services can lead your business to successful sales.
- Client Relationship: developing relationships with potential clients and managing relationships with existing clients is the backbone of any business regardless of the industry in which you operate.