Growing a business is not easy and the pressure to make every pound of marketing spend deliver is enormous. There are plenty of marketing tactics to utilise, but the challenge is knowing which ones to choose. Start with a clear plan to enable better, smarter marketing decision making in order to achieve your growth objectives.
Plan for growth
First and foremost, you have to plan for growth. Plan where growth will come from. Will it come from new products and services or existing ones? Will you enter new markets or focus on further penetration into existing markets? Will you grow the value of existing customer accounts? What will you do to make sure you retain your clients? How will you balance campaign activity and growth hacking tactics?
There are many more questions that need to be asked during the planning process. The decisions you make will impact how your marketing budget is allocated. Smart budget allocation will enable you to focus your spend and get better results.
Know who you are targeting – and reach them
This may seem like an obvious point. If you know who you are targeting, have you also made sure that your marketing communications are reaching them? When was the last time that you profiled your prospect database to ensure you’ve got the right prospects on your list? It’s easier to look for customers if you know who you are looking for. Make sure your communications are reaching your ideal audience.
Know what your customers are thinking
Far too often, customers are excluded from the decision making process. How often do you consider your customers when making business decisions? Place your customers at the centre of your marketing. Listen to your market. Make marketing listen to your customers. By gathering and using customer insight, you’ll create stronger marketing messages that will stand out compared to your competitors
When marketing and sales teams work together to achieve revenue goals, they dramatically improve marketing ROI, sales productivity, and, most importantly, growth. My career started in sales, that’s why I find this objective easier than most marketers do. Make sure you are running monthly joint sales and marketing meetings and getting both departments talking and working together.
Sell in steps
When you buy from a new company, there is always a perceived risk in changing suppliers. Will your product or your services be as good, better or worse than the last supplier? These are all things that a new prospect will agonize over. Where possible, make their buying decision easier, by removing the perceived risk. You can achieve this by taking a staged approach to selling. This will help them make decisions faster, building the relationship and their confidence over time.
Step 1: The Initial Offer
This comes packaged up as a Free Trial, Free Assessment/Consultation or Free Sample.
Give them something that helps them experience your brand and what it would feel like to be your customer, to use your product, or your services.
Step 2: The Initial Product or service
Once they’ve experienced your freebie, offer them a lower cost item – to get them to part with their cash. The lower cost will therefore be perceived as a lower risk purchase. It gives you the opportunity to get them onboard and build a stronger relationship. It gives the customer the opportunity to check you out properly, without making a big commitment. The easier it is for them to say yes, the faster you will grow your customer base.
Step 3: Full product or service
Once you’ve won their trust, you are in a better position to upsell your higher value product bundles of service packages.
Step 4: Repeat Business
Make it easier for customers to repurchase. Create a sustainable and repeatable sales results that increase in a predictable way over time. This will make it easier for you to scale up your growth.
Increase conversions by making it as easy as possible for your customers to do business with you. Remove distractions, eliminate difficulties and create more engaging and smoother customer journeys.
Make sure to also breakdown how you communicate with prospects. Don’t give them everything at once. Deliver what is relevant and the right time in the buying process.
Don’t get caught up in the temptation to succumb to marketing tactics that promise hundreds of leads overnight. If you take the time to slow down and work through these points, you’ll be far more confident in the decisions you make about where you put your marketing resources and budget. Finding the time to do this, or the resources with experience to do it right, can be a challenge. We are here to help. Ask for a free marketing audit.