Is Your Marketing Making You Money, Or Wasting It?
Have you taken a good honest look at your marketing lately to determine whether it’s doing its job in making your business money, or whether it’s wasting it?
Now is the time to check the performance of your marketing, so that you can start 2021 on the front foot, with a clear plan for what you want to achieve.
No matter how great your website looks, how good your social media presence is, or that your email marketing goes out every Thursday morning, there are five essential ingredients that can make your marketing a powerhouse, or if they’re missing make your marketing a waste of money.
Do any of these problems exist in your business?
- Are 80% of your marketing efforts leading to income generation?
- Are you struggling to achieve consistent revenue?
- Are you trying to market your business to anyone and everyone who might be interested?
- Are you struggling to stand out from the crowd?
- Has your business growth stagnated?
- Are you attracting the wrong kind of clients?
- Are you struggling to convert followers into sales?
- Do you have lower-than-expected retention and referral rates?
If you answered YES to any of these, then you most likely have a strategy problem.
Synergy’s marketing partner Nicci O’Mara, Founder of Simply Standout Marketing, is one of the region’s most experienced marketers, bringing over 25 years of marketing communications expertise to your business and ours.
Nicci’s focus is on growing businesses by transforming their marketing, using a strategy-first approach.
“You need to find what’s not working and fix it fast, because when your strategy isn’t working, you’re not bringing in the revenue you could be,” Nicci said.
“And no amount of money and time put into social media, emails, advertising, or even a new website will fix the problem. You need to fix the strategy first.”
5 essentials for marketing success
When it comes to successfully attracting more of the right customers to your business so you can grow and profit, there are five essential ingredients.
Knowing your Audience
A LOT has changed over the last 12 months and that includes how your customers consume marketing. To be truly successful in your marketing you need to know your audience like never before. You not only need to know who they are and where they’re from, but you need to delve deeper to discover what problem you solve for them, what objections they have to buying your product or service, and what frustrations they have with your industry.
Understanding your audience makes it so much easier to sell to them, and so much easier to know what marketing to undertake and what messaging to use.
Your Irresistible Offer
One of the most important elements of your marketing is your “irresistible offer”. It doesn’t matter whether you’re a construction business, a law firm, a pub, or a retail store, you need to communicate an irresistible offer for people to want to buy.
The vast majority of failed promotions occur because there was a problem with the offer. Either people didn’t want what you were offering, or you didn’t put it in front of enough of the right people.
People want to buy the transformation, not the product or service. They want to buy a beautiful smile, not a retainer. They want to buy their dream home, not legal services. It’s all in the wording. You’re still selling the retainer or the legal service, but you’re talking about the transformation and how your product or service makes that happen.
Every business needs to have up to three key messages that they use consistently across all of their marketing and communication. They aren’t taglines. They’re carefully crafted sentences that are the foundation of all your marketing and branding efforts.
Your key messages should work to highlight what you stand for, and what differentiates you from the competition. It’s what you want your customers to hear over and over again so it embeds in their mind. They need to be relevant, engaging, and refreshed regularly.
Choosing the attraction strategies and tactics that are right for your audience and your business can be tricky. Often business owners stick with what they know rather than what would work best. Or they get caught up with the hype and promises of the latest marketing tactic which may be fun to use but may not be where their customers are hanging out.
But once you know and understand your audience well, and you know which tactics will provide the best return on investment without taking up ben more of your precious time, it’s so much easier. And if you set your marketing up to have solid foundations, it makes it so much simpler to build on your marketing for long-term success.
It’s about 10x cheaper to keep an existing customer than it is to attract a new one, so putting into place some great retention strategies is a no-brainer. There are so many new and innovative ways to keep your current customers engaged and coming back, don’t just go for the quick and easy discount or reward. While you’re there, make sure you include strategies to gain referrals from your current customers.
And here you were thinking we were just numbers people!
At Synergy, we believe in a well-rounded business strategy which includes a solid marketing plan. So, if you need advice or assistance to improve your marketing and grow your business, we suggest you BOOK NOW for a free 15-minute discovery call with Nicci O’Mara. She really is great at what she does!
Find more great tips, stories, and other seriously useful information in our Business Resource Centre.
Disclaimer: Whilst this publication has been carefully prepared it is written in general terms and is intended as general information and to provide commentary. It does not purport to be comprehensive or render any advice. No one should rely on information contained in this publication without first obtaining professional advice relevant to their specific situation.
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