How would you score your marketing in 2010? Give yourself 10/10 if you had a consistent flow of profitable new customers joining your business month after month. Unfortunately for most businesses, they either don’t have a clearly defined marketing plan at all, or anything they do have doesn’t generate any leads, or attracts the wrong types of customers. Either way it results in you having to work harder for less money.
1. Strategy Before Tactics
Let’s be clear, your website, pay per click advertising, print ads, direct mail, emails, twitter, facebook are all marketing tactics used to execute your marketing strategy. Your marketing strategy encompasses 2 key areas.
Firstly, you need to identify your Ideal Customer. A great way to do this is by reviewing your existing customers and identifying who is profitable, and who refers you, and then articulating what are the common characteristics of these customers. This will provide you with a framework for your Ideal Customer moving forward.
Once you’ve done that, you need to develop a clear and unique marketing message that differentiates you from the competition. Again, your existing customers hold the key. A short survey with existing customers who meet your Ideal Customer profile, and asking some thought-provoking questions will help you identify what really sets you apart.
By having a clear marketing strategy your tactics will become more powerful and effective, and your business will also become more profitable.
Action: Identify your Ideal Customer and develop a clear and unique message that differentiates you from the competition and ultimately reduces the emphasis on price.
2. Embrace The Marketing HourglassTM
The Marketing HourglassTM maps out the 7-step process a prospect goes through when considering buying your product or service (Know), all the way through to post-purchase when word of mouth starts to happen (Refer). The full process is Know, Like, Trust, Try, Buy, Repeat, Refer.
When you start to look at your business in this way, it can change your whole approach to marketing. Instead of viewing marketing as an add-on that is solely responsible for generating leads when sales are down, it becomes an all-encompassing outlook that informs every activity of your business. Marketing ceases to be about leads or sales but delivering an exceptional overall customer experience.
Action: Design your marketing in a way that provides a remarkable experience at every single touch point.