17 Jul Marketing 101 – the basics every business needs
Regardless of an organisation’s size or stage of development, marketing is essential for its growth and success. A common misconception is that it is complicated or expensive, leaving too many businesses daunted by the task. Conversely, another myth is that just maintaining a website, twitter feed and Facebook page will be enough to magically produce results. As always, the reality is somewhere in between and will vary from company to company.
Whether you are just starting out or an established business, marketing should be central to your planning, helping you to address your strategic goals and challenges. Here is a summary of the key elements that every business should audit periodically:
Evaluate market opportunities – innovate by investigating new markets, new products/services and extensions to existing ones, as well as new channels to market.
Review your client segmentation – identify the sectors and types of client, where your services would truly add value and which are sufficiently profitable to merit targetting.
Product/service positioning – assess your product/service and decide what, if anything, makes it distinct and hopefully better than your competitors’. In parallel, identify the specific benefits for each sector or client group – this will form the basis of your positioning for your web content, marketing material and business development activity.
Brand – Does your brand reflect your values and positioning? If not, it may need refining or renewing.
Marketing collateral – you should regularly refine and upgrade your marketing and sales material and website to reflect your new target sectors or clients.
Lead generation – this is always bespoke and varies from industry to industry but as a minimum are you making full use of the following?
- Email marketing and thought leadership campaigns (using articles, letters and white papers) to raise credibility among your new client segments.
- Affiliate marketing ie joint ventures with associates and third parties
- Social media marketing – networking via LinkedIn; blogs, Twitter and Facebook.
Communications and PR – to increase the perceived value of your brand, you need to let all your stakeholders – clients, media, employees and other key influencers who shape your business – know that you exist, the benefits of your offering and of course, your successes!
If you would like guidance or help with your marketing book a consultation call