The last two years have been mighty strange for business owners with lockdown restrictions, staffing issues, material shortages, and huge fluctuations in demand. This has made planning what you should be doing, and where to focus resources, a constantly developing challenge.
However, February has finally marked a (fingers crossed) more permanent change in fortunes for business owners, with social restrictions finally being removed. Although we are not fully out of the woods just yet, 2022 now has potential to be a much better year for business, and as such, getting your Marketing Strategy right is an important task to focus energy on.
To help get you started, our Marketing Manager, Andy has pulled together some top tips to help you form a strategy that helps push your business forward.
Start With Your Data
Step one, with any good marketing strategy, is to look at your historical data and establish what has been working for you.
- Where have your leads come from?
- What was the quality of the leads from these sources?
- What has been your conversion rate?
- Where have you spent money and what did it return?
- Who are your customers?
By working out what has worked and what hasn’t worked you can rule in, and out, activities that are going to generate you the best possible return.
If you’re not tracking your data, start! If you’re not confident with technology, begin with a simple Excel spreadsheet, or try tools like the free version of HubSpot.
Modus Top Tip
If your resources are limited, don’t try to do everything. Start with two or three key activities and do them to the very best of your ability. Spreading resources too thin and ending up with results you know could be better is not beneficial for your business, brand, or effectively managing your time.
Customer Journey Mapping
Once you have gathered your data, the next step is to map your customer journey and evaluate the steps your customers go through from discovery to sale.
- Are there any gaps in communication?
- Are you losing leads at a specific stage?
- What could be improved?
- Where could value be added?
By answering these questions, you will be able to identify the areas of your business that need the most attention.
Modus Top Tip
Draw your customer journey, don’t just create a list. Is important that you understand the decisions leads can make and making this visual makes it easier to see where your gaps are. Create the ideal process that keeps you and your leads informed and work towards implementing it.
Understand Your Market & Your Competition
With the current climate this is going to be a challenge for most businesses. As when lockdowns began, we now predict customer behaviour will again change as social restrictions are removed and public confidence fully returns.
Many businesses have focussed heavily on online activity over the last two years, as events and face-to-face meetings were put on the back burners. What’s important now is that you have the ability and willingness to change if things are not working. Give activities time, but keep asking yourself – “Is this working?”
Modus Top Tip
Keep an eye on social feeds from local business groups and your competition to see what they are up to. When events and face to face meetings begin to fully spring back into life, be ready to make your move. Start slowly and measure what each activity is generating you in return.
Ask yourself: Is the lemon worth the squeeze?
Targets With Focus On The Why
Setting targets is a good way to see if you are keeping on track with what you want to achieve. But many targets can just be numbers that don’t really mean much.
When setting targets focus on the “Why”. E.g. We are setting targets for Facebook activity because we know that 20% of leads come directly from Facebook. Next year we want to increase the number of leads form Facebook because they are good quality and can be attained at a low cost.
Modus Top Tip
When you set your targets they should always be SMART – Specific, Measurable, Attainable, Relevant and Timely
In need of some extra support with your marketing? At Modus we’re more than just accountants, and are able to offer marketing support to help our clients thrive. Get in touch with us today and book your FREE Marketing Consultation Session by calling 01993 225030 or find out more here.