marketing-communication-strategy

Marketing Communications that actually generate a response

Marketing Communications. Sounds big. So do you need a dedicated marketing communications department with several marketing degrees between them to handle it? Nope. You just need YOU. That’s because YOU are actually the most qualified person to work on your business’ marketing communications.

Why? Because YOU know your business in greater detail than anyone else. Plus, if you have been integral in developing the business plan, marketing plan and know your niche market intimately, YOU can create winning communications that actually generate response and sales, even without a marketing team around you.

To get you started, remember that all forms of marketing communications (be it print advertising, Facebook ads, newsletters, editorials, radio ads, direct mail or any others) should utilise the following principles to gain response:

  1. AIDA – In this order, your marketing communications must grab ATTENTION, generate INTEREST, build DESIRE and then call someone to take ACTION. Test whether your next marketing communication / campaign does this. If it doesn’t, can you tweak it so that it does? You will get a better response if you do.
  2. PAIN-POINT – Speak to a known frustration of your audience, or speak in a way that relates to them. For example if your audience puts up with ‘wet shoes’ in the rain, when all they need to do is purchase your ‘shoe protectors’ to stay dry, your strategy for generating a great response might be to highlight what the problems are when you have wet shoes and need to get on with your day. Don’t shy away from what your audience will really relate and respond to.
  3. WIIFM – Address this important question from the perspective of the audience, “What’s in it for me?” Put yourself in their shoes, even if that means role-playing with other colleagues to determine the communication that gets the best response. If your audience knows how their life will be better as a result of dealing with you, there’s a high likelihood that they’ll contact you.

Once you have been through these steps, the media that your communications need will become self-evident. If you need to tell a certain story, make a point or demonstrate your product to generate a big response, then choose the channel (web, radio, print etc.) that does this best.

Once you’ve said bye-bye to your marketing strategy department, come say hello to a coach at ActionCOACH. Call us on 02 9146 4439.

target-marketing-strategy

Understanding Target Marketing & Customer Acquisition Costs

New customers don’t come along for free, nor do they turn up by accident. They become your customers only after you have invested in finding them, have engaged with them and can provide exactly the right product or service for them. Most people we speak to haven’t considered this when marketing their business, their product or their service.

Once our coaching clients understand that there are certain unavoidable ‘customer acquisition costs’ – their brand’s marketing activities can be confidently backed up with an appropriate marketing budget.

As we discussed in our blog about finding your niche, once you narrow down or ‘target’ – your ideal customers – you eliminate a large chunk of the market that you no longer need to spend energy competing against on price alone. Marketing specifically to your niche is way more cost effective and brings more ‘quality’ customers to your business than if you were to market your services blindly to everyone, without a target marketing strategy.

So, what exactly is a targeted marketing strategy? It’s a planning document that identifies your target, then stipulates how you will deliver the perfect message to someone who wants to hear it. For example someone in your niche market who has been searching for a product like yours online, receives a friendly offer from you in their social media feed and is happy to click on it to find out more. Or it might be someone who is interested in your type of service who opens your informative newsletter and gains some more knowledge about it, for free. We can’t emphasise enough how important it is at this stage to get your message right. Once you’ve had a go at writing a message, run it past your business coach or engage a copywriter to ensure the customer knows what you want them to do! It would be a huge loss if the customer was almost through the door then didn’t know how to engage your service or buy your product and walked away.

Targeted marketing strategies are much more likely to generate a response and a higher quality client – making it a good investment of your budget. ActionCOACH can help you build the most effective target marketing strategy to ensure a great return on your customer acquisition costs.

To find out more about Target Marketing Strategies, you can book into our free 6 Steps to Building a Better Business Workshop here.

 

business-marketing-plan

The Five Key Areas of Marketing and Sales

Writing a Business Marketing Plan. Woah… this sounds like a heavy topic that requires more than just a blog! But the good news is there are only FIVE key areas of Marketing and Sales that you need to focus on and improve on to build your business.

These five key areas are:

 

  1. Number of Leads – how many potential clients do you attract? Attracting lots of prospects happens when you effectively connect to people who want your products and services (your niche), communicate the benefits to them and demonstrate to them the value of your business over your competitors.

 

  1. Conversion Rate – what percentage of leads do you convert into Clients? A lot of business owners ‘wing’ the sales process and hope that their leads will make a purchase. However, planning and documenting your sales process then implementing proven selling tools will improve your conversion rate results and make them more reliable.

 

  1. Number of Transactions – how many times a year do your clients buy from you? Brainstorm ways to encourage clients to buy from you more often and include it in your Sales and Marketing Plan. Existing customers already like what you do, which makes it easier and cheaper to get them to buy again rather than acquiring new customers!

 

  1. Average Dollar Sale – how much do clients spend with you each time they buy? What could you do to increase the average purchase value of each customer? What should you increase it to? Upselling, increasing rates and changing your packages are just some of the ways ActionCOACH helps businesses increase the average value of their sales.

 

  1. Margins – what is the gross or net margin your business achieves? Improving your margin is a quick way of improving cash flow. What can you do to reduce your expenses as a way to increase net margin? Our clients are often surprised at how this, the easiest part of a Sales and Marketing Plan, can make the biggest immediate difference to their results.

 

Between the five areas, there are a total of some 350 different ways to grow your revenue and profit.  Just a 15% improvement in each of the five will be sufficient to double your profits.

This list will help you evaluate where your business is at in each of the five areas. We can also sit down with you and explain each step in detail. Benchmark where you are right now against the five keys, select strategies that have worked for thousands of other businesses, implement them into your business and start to enjoy the results!

We show you this and more in the 6 Steps to Building a Better Business Workshop which you can register for here.

Or download your free eBook called Working with your Niche so you don’t have to compete on price here.