5 do’s and don’ts when marketing your business
Marketing can ensure the success of a company or drive customers away. Every business owner needs to understand how to adapt to changing industry trends and engage their customers at every opportunity.
Posting an insensitive update on social media or replying in the wrong tone of voice to an unhappy customer review can have a ripple effect through any business.
Here are a few basic tips to consider before you embark on a new marketing strategy to make sure you create a plan that reflects your unique business.
1. Be aware of your customer’s changing needs, particularly during the coronavirus pandemic
Before you start work on a fresh marketing plan, audit your current customer sales and see if there are any notable changes in buying habits. If your business is solutions-led, are there any major growth or problem areas that can lead your marketing strategy?
For example, how has the shift towards working from home affected your customers? Has this had a positive or negative impact on your revenue stream?
Identify which areas of your business provide the highest profit margins within the current market conditions and include this as a key area for the marketing plan.
Then look at how you can add value to your existing clients, if you have seen a drop-off in recurring sales try and find something to offer within your marketing material that will make the service or product more attractive. This could be a discount, incentive or value-add.
These steps will shape the key goals for your marketing plan and could potentially identify any areas you need to work on within your business.
2. What has worked in the past?
Have you had any email marketing campaigns, promotions or social media posts that have worked well in the past? Which area did you target and what did you offer?
Repeat any elements that worked and note anything that did not provide a return on investment and continue this review process throughout any new campaigns.
This will help you build a profile of how your customers interact with your brand so you can streamline the process and create small targeted campaigns in the future.
3. Set a realistic budget
Do you have a large budget set aside for a public relations firm or advertising agency? Do you have the skills to design your own social media posts and marketing content?
If the answer is ‘no’, the alternative is to start with a small project and hire a local freelance graphic designer who specialises in social media to create the posts for you.
4. Create your own brand voice
Do not just copy your competitors. To create a brand strategy, start by working out how you already personalise your sales or services and what your company offers that is unique.
This is the start of your company’s voice.
Identify what you do best, if you do not know, ask your staff for their feedback, what do they hear from customers? A marketing plan is no good if you do not know your key differences as a business.
5. Decide your key audience
Who buys your service or product? Are they small businesses? Are they Mum and Dad investor’s or large corporate companies? You may have different audiences across a range of product or service groups.
Determining this is important because it decides where you focus any paid social media, advertising, or media outreach. It also helps frame the look and feel of any content.
For example; If your business sells educational software for schools and you want to expand to a new area interstate, you would focus any media spend on schools or parents within those suburbs.