This article provides tips for enhancing and implementing successful marketing strategies in the new financial year.

But just before we start, a quick GFC comment … I have observed a large number of businesses over the past 12-18 months and their various reactions to the GFC. Some stopped spending altogether, some shut shop, some went into ‘blaming’ mode, many cut customer service training (which is now very obvious), some sought opportunities and some went lean and focussed. Who fared the best? I can tell you that the companies that stopped marketing are now struggling with their sales pipelines and the ones that stayed focussed, albeit lean, are now well placed to secure emerging opportunities.

So for the coming financial year, I strongly recommend that you create a marketing plan and follow through on it. Even if it means plotting just a couple of key activities per month (pending size and scale). Book them in and make them happen to maintain your profile, enquiries, sales, repeat business and referrals. Keep your activities relevant and maintained and I guarantee you will see results both now and in the long term and be more resilient to environmental changes.

Here are some tips on where to start:

1. Goals – do you have a set of measured goals for your business, your products and your services? Do you know how many sales you need to make and sales per product / service to achieve your budget each month? How will you grow, who will do this and when?

2. Business structure – partnership, franchise, locations, ownership, structure, renting, leasing? When will you purchase new equipment, put on staff or spend money in your business? A good accountant (not just compliance focussed) will help you put together a business plan (we recommend www.archergowland.com.au).

3. Products / services – what will you offer or what do you currently offer? Is it in demand? Does it need to adapt? What difference will it make to the buyer? How will it really be better than your competitors’? What value does it create? (the succinct answer to this will form your most important key message), Is your pricing right?

4. Target audiences – what do they need and want and when? Where are they (demographics)? What are their buying and marketing habits ie. they listen to the radio, they read a particular magazine, they watch the 6pm news, they attend a certain trade show? What other products do they buy? How do they make purchasing decisions and where do they shop?

5. Marketing strategies – now that you know how much money you have to spend and when (thanks to your business planning), the value of your offer and the people / groups that you will offer it to you can plan your marketing strategies and offer your customers a brand and supporting messages that resonates with them.

Marketing strategies can include digital strategies and online marketing, advertising, public relations, customer relationship management, events, conferences / trade shows, public displays, partnerships, cause related marketing, sponsorships, speaking, sales campaigns and direct mail among others.

6. Implementation – work out what you are doing and when, put this into order of priority and assign yourself implementation activities every month / week. Make sure your week has attention to number of sales calls / visits, scanning for new opportunities, converted sales, customer relationship management and “on the business” activities. Don’t forget to stay in touch with your key contacts and make sure you show your appreciation for referrals and business.

Following these steps will create a basic Marketing Action Plan – use it to guide the growth of your business and update it every six months to keep your activities fresh and relevant.

Please contact me if you would like guidance and information on the latest marketing activities (including zero cost and low cost activities) and more assistance with getting started and putting together the right plan for you.

Kind regards
Megan Walker