Nine Steps Towards Effective Marketing
By Eva Theron
1. Your product or service
Your product or service offering is the starting point of the marketing process. It is important to offer something of value to potential customers. Be truthful and honest with yourself, is the product or service you’re offering fulfilling your target market’s need and is it complying to your own pre-defined quality standards as well as those of your customers? Rather spend a few extra pounds to provide a fit for purpose product.
2. Plan, plan, plan
Having a well written marketing strategy or even just a plan will help you apply your budget better and it will give you some clarity on return on investment. Marketing should be seen just like any other investment and shouldn’t be done if you don’t expect a definite return. Unfortunately as with any investment we don’t always get it right, but your chances for success will definitely increase if you have a well written plan. My best advice is; do your research and make sure that your decisions especially those relating to media selection are well informed.
Once implemented, evaluate your plan regularly which will allow you to take the necessary corrective action if you are not achieving your objectives.
3. Keep an eye on your competitors
It is important to keep a close eye on your competitors and to be aware of their activity. See where you can do things differently and where you can differentiate your business. It is definitely a good idea to know your industry inside out in order to anticipate future trends where possible.
4. Effective segmentation
Segmentation divides customers into subsets. The members of each subset share specific characteristics that are distinct from other subsets. Segmentation will help you focus your marketing budget on the most profitable group(s) of customers. You will then be able to conduct research where you can identify things that appeal to your selected target market. Trying to be something to everyone will cost you dearly and will probably not give you the results you are looking for, but aiming to be everything to a specific group will help you increase your profits. Segment your market using the most appropriate characteristics and focus your budget for increased return on investment.
5. Know your target market
Once you have segmented, and selected the most profitable groups, your next step will be to get to know your target market. Large organisations spend sizable budgets on customer research with good reason. If you understand what your target market wants, you can provide products and services that fulfill their needs and that appeal to them, ensuring they take action and buy.
6. Manage your brand
A brand consists of brand values, a brand promise, a brand personality and a visual identity. It is important that you have a well defined brand that is applied consistently throughout your business. Make a list of all the areas where your brand touches stakeholders including employees and ensure that you apply your brand consistently in all those areas.
7. Deliver on your brand promise
Your brand promise is the promise you make to your customers about what they will receive as a result of their relationships with you. Once you have established what your unique brand promise is make sure that you consistently deliver on that promise.
8. Customer relationship management
Crown your customers king and treat them as such. Managing customer relationships effectively will help you increase customer loyalty. Increased customer loyalty will dramatically increase your bottom line as it is more expensive to acquire a new customer than it is to sell to an existing one.
9. To become an expert – attend a practical marketing crash-course
If you would like to learn how compile a structured and effective Marketing Plan which will help you maximise your return on investment you can attend a practical marketing training course specifically developed for freelancers, business owner-managers, senior managers and executives with limited marketing experience or training.
