Marketing Tactics to Get More Customers
It is important that you begin working on your marketing strategy now! Don’t wait until 2021 to start developing your strategy because, inevitably, you will get caught up in something else that will distract you from planning and executing that strategy. (i.e. If you start planning in January, you may not actually implement the strategy until February or beyond.) Don’t get behind – get moving on strong marketing tactics!
Market analysis is the first step
- A strategy starts with understanding your current market.
- What are the latest trends in the market? What are the latest trends for your customer or consumer?
- Are there changes in how your customers use your products?
- Are your customers or consumers aware of your company or the products or services offered by it?
- Do you have a good understanding of your target customer/consumer? Who are they? How many are there? How you reach them? and What do they need?
- What about your competition? Any new competitors in the market? Do your current competitors offer different prices, products or services than last year? Have you done a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis on your company and your top competitors?
- Any changes to the regulatory environment? (i.e. Have the agencies that govern your business made changes or implemented new rules that could impact your business?) Any government changes that could impact your business? (i.e. Is the local government planning to shut down the street in front of your business for the next six months?)
Commit to spending money on marketing
Owners are sometimes reluctant to spend money of things that isn’t required or that doesn’t return an instant sale, but they must in the case of marketing! Marketing isn’t sales. Marketing is necessary for bringing in leads and prospects. If you fail to spend money in marketing, your company will eventually not have any new customers. Your potential customer pipeline will simply dry up. The average marketing spend for most companies is between 5-7% of forecasted sales. Most companies in the Fortune 1000 spend over 10%. That may seem like a lot, but remember most potential customers have no idea who your company is or what it sells. It takes a lot of money to create the impressions necessary to move potential customers from having absolutely no awareness of who your company is or what it sells to becoming customers.
Tactic selection to fulfill the strategy
Tactic selection to fulfill your strategy doesn’t have to be difficult, but you must know your target consumer before you can begin. Often times, small business owners will sponsor their children’s soccer team or donate to their children’s school booster club, but the reality is that these are usually not activities that support your strategy. They are feel good, altruistic activities and should only be considering marketing tactics if you are advertising to your potential consumer/customer. If you have a thorough understanding of your target, then you will know ways to reach them. If you are considering social media, only use those social media platforms that provide you with access to your target. (e.g. Twitter may make sense for one company, but not for another.)
Commit to your plan!
Once you’ve completed your tactic selection, select the month of execution, and add estimated costs and expected leads for each tactic. I advise you to put it on a spreadsheet and then follow through, executing each tactic as planned for the entire year.
Marketing tactic results
Be patient. If you find that one really fails to generate sufficient leads or prospects, then it could be timing or messaging. You may want to try that same tactic next year at another time or alter the copy (text). Marketing is a trial and error exercise. Marketers are always testing. Some tactics come through as planned while others can’t quite achieve their stated goals. Marketers are always trying to find the perfect tactic.
The bottom line, spend money on marketing and results will come.
Complete the Collin SBDC Client Needs Assessment for more assistance.