Developing Your Marketing Strategy
Marketing is broadcasting your brand to people and businesses that have a desire or need for what you offer. Typically SME's use direct response marketing which generates results instantly via telemarketing, email marketing, search ads and social media marketing.
It's important to understand which strategy will create the highest ROI without spreading your budget thinly across mediums that are simply not suited for your target audience or your message.
LIMIVEX work with businesses to help them develop and execute a comprehensive marketing strategy in a way which resonates with a specific target market.
The aim of marketing is to know and understand the customer so well that the product or service fits them and sells itself.
- Peter Drucker
Direct Response Marketing
Measure What Works & What Doesn't
With any type of investment it's hugely important to monitor and measure the return-on-investment with each campaign so you know where your money is best invested, as John Wannamaker once famously said:
I know half the money I spend on marketing is wasted, I just don't know which half.
- John Wannamaker
You should understand why your using a particular strategy, what is the purpose - and measure that!
It's common to say well, "sales" - but there's many pieces to the pie before marketing converts to sales and this is where LIMIVEX come into the picture. Many campaigns will drive traffic to your website, some may schedule meetings others could indeed sell products online but all scenarios involve an intricate sales funnel that needs to be tweaked to ensure your getting the most out of any investment.
You could spend £5k in search ads to help drive traffic to your website, and sure this might indeed increase site traffic but if your website isn't setup to handle and guide buyers to a single position then it is likely all of that traffic will be simply wasted.
Each lock requires a highly specific key, simply marketing to all businesses in the construction industry or CEO's of small businesses is not specific enough, and you'll find it difficult to develop a targeted message for this broad audience, furthermore the "Where" will prove even more difficult and you'll end up spreading your efforts and budget so finely you'll see next to zero results.
If you get this just right, your product or service will sell itself...
The Master Key
The good news is that there is a master key that can open all three in quick succession, and it's called Mass Marketing, the bad news is that you'll need £million marketing budget for this. This type of marketing is the kind you see being practiced by large brands on television and billboards
Throw out a message and see what sticks!
This isn't a strategy any SME should be considering.
Large Corporations Vs. Small Businesses
Mimicking the marketing strategy of large corporate organisations is never a good idea, you don't have their budget and your marketing objectives are very different. Think of corporate marketing like an atomic bomb, a giant crap storm of collateral, it's expensive to hit everyone, everywhere.
As a small business you need to be laser targeted - precision marketing.
Make a profit
Please the board of directors
Please the shareholders
Please the stakeholders
Make a profit