Marketing Resolutions for Smart Businesses
The new year is time to get off on the right foot. So, here's a few resolutions that, if you follow, you will find yourself in a much better position come 2009.
1 - Take care of your existing customers.
Send them newsletters, direct mail, emails, special offers, etc. Why? Because it's easier to sell more to a current customer than it is to get a new customer. I know, you're nodding your head and saying OK but most companies ignore this rule and cry all year round that they need new customers. No, you need more sales and they can come from your existing customers. Seriously -- it's true. Resolve to follow this one. Make a plan for regular communication with your past/current customers and stick to it.
2 - Stop acting impulsively with every advertising offer that comes your way.
You know what I mean: the phone rings and some sales rep has remnant space in their magazine for half price... there's a new business directory coming out and you can advertise in it for a few hundred dollars ... the local cable station calls and has a great package, designed just for your business category... Please, please, please quit acting on these! Instead, make a plan -- determine your best target audience (from past customer history) and how to reach them. Then, stick to that plan. Grasping at every salesman's offer that comes your way is a surefire way to waste your marketing dollars.
3 - Put equal emphasis on branding as much as promotion.
You need to let your customers know you exist (branding) just as much as you need to give them an incentive to come to you (i.e., a sale). Many companies forget that branding is equally important. Send out a press release, enter an award, put up a billboard -- branding is important because it gives you some name recognition. Then, when you run your "sale" ad, your customers will know who you are.
4 - Don't confuse marketing with sales.
Marketing, advertising and public relations are all means to telling your corporate story -- to getting your message out to your publics, be it the media, your customers or your prospective customers. Sales is the actual transaction of money in exchange for your goods or services. While marketing, advertising and public relations efforts influence sales, they are not directly responsible for sales. There are many other factors involved along the way, including market demand, economic conditions, price point, competition, the skills of your salespeople, and so much more.
5 - Trust marketing professionals
I'm not suggesting that you hire an agency simply because I own one, but if your company is not in the business of providing marketing services, it's better to outsource your marketing efforts to professionals. For the cost of one person's salary ($36k - $50k), you can enlist an agency that has subject matter experts on staff to help you with planning and execution of a marketing, advertising and public relations plan. You can't possibly hire one person to do all of this. You'll benefit from the agency's experience with other similar companies, market expertise, industry knowledge, etc.
Take my advice and make 2008 the year that your marketing works for you!
1 - Take care of your existing customers.
Send them newsletters, direct mail, emails, special offers, etc. Why? Because it's easier to sell more to a current customer than it is to get a new customer. I know, you're nodding your head and saying OK but most companies ignore this rule and cry all year round that they need new customers. No, you need more sales and they can come from your existing customers. Seriously -- it's true. Resolve to follow this one. Make a plan for regular communication with your past/current customers and stick to it.
2 - Stop acting impulsively with every advertising offer that comes your way.
You know what I mean: the phone rings and some sales rep has remnant space in their magazine for half price... there's a new business directory coming out and you can advertise in it for a few hundred dollars ... the local cable station calls and has a great package, designed just for your business category... Please, please, please quit acting on these! Instead, make a plan -- determine your best target audience (from past customer history) and how to reach them. Then, stick to that plan. Grasping at every salesman's offer that comes your way is a surefire way to waste your marketing dollars.
3 - Put equal emphasis on branding as much as promotion.
You need to let your customers know you exist (branding) just as much as you need to give them an incentive to come to you (i.e., a sale). Many companies forget that branding is equally important. Send out a press release, enter an award, put up a billboard -- branding is important because it gives you some name recognition. Then, when you run your "sale" ad, your customers will know who you are.
4 - Don't confuse marketing with sales.
Marketing, advertising and public relations are all means to telling your corporate story -- to getting your message out to your publics, be it the media, your customers or your prospective customers. Sales is the actual transaction of money in exchange for your goods or services. While marketing, advertising and public relations efforts influence sales, they are not directly responsible for sales. There are many other factors involved along the way, including market demand, economic conditions, price point, competition, the skills of your salespeople, and so much more.
5 - Trust marketing professionals
I'm not suggesting that you hire an agency simply because I own one, but if your company is not in the business of providing marketing services, it's better to outsource your marketing efforts to professionals. For the cost of one person's salary ($36k - $50k), you can enlist an agency that has subject matter experts on staff to help you with planning and execution of a marketing, advertising and public relations plan. You can't possibly hire one person to do all of this. You'll benefit from the agency's experience with other similar companies, market expertise, industry knowledge, etc.
Take my advice and make 2008 the year that your marketing works for you!
posted by Jan at
7:30 PM
