Be it your business is madly successful or you are in a bit of ‘hot water’ numbers wise, ‘Profitable Marketing’ is everything. Companies which employ High Return & Low Cost Marketing Strategies with a key focus on Sales, Brand as well as Profitability are in the best position to grow (regardless of the base).
However, when a business is in distress, everything must occur faster, with a massive sense of urgency, priority and drive. Ironically this can be a good thing from a Marketers viewpoint in that companies that feel complacent are the first ones to get lazy about their development (and if they aren’t careful, will wind up in ‘distress’).
Of the thousands of people we have helped in distress over the years, this is the Top 7 Points we recommended stat:
- The Business itself: Are there any issues in the business that Marketing won’t solve? Key areas to examine is your pricing, product, service and basically fix up any problems here. Once this is done, you are ready to Market.
- Real World Marketing: Before you even think online, it’s critical to ensure that you have the basics in place. This can include a decent brand, retail signage, sales materials and business cards (depending on the nature of the business). For example, we have turned around retail clients just through their building signage alone.
- Sales and Lead Management: Once the leads start pouring in, are they converting correctly and being managed well? Even though this is technically ‘not’ a Marketing issue, it is. If leads aren’t converting due to poor Sales Management, this is a big problem for everyone.
- The Website: Websites are very inexpensive to build and update these days and it’s a Sales Person that works for the business 24/7. It must be perfect in that if it’s not converting, there is little point in sending lots of potential customers there to visit. Get this right first!
- Email Marketing & Warm Customers / Prospects: Especially for businesses that have been around for a while; chances are there are lots of old customers and contacts. Email Marketing (e.g. fortnightly newsletters) are nothing new, BUT are powerful in that you are Marketing to a very warm audience. In case studies for our clients, we have had sales increases of 40% just with this technique alone.
- Facebook, LinkedIn & Social Media: Depending on the business, it is usually Facebook, LinkedIn, a bit of both or one of the other. Facebook can be a great community platform with LinkedIn perfect for targeting high value decision makers. You can work these platforms for Leads & Sales for a real low cost. For example, a simple $10/day on Facebook usually gives about 1,000 views. You can sign up to LinkedIn Sales Navigator for $100/month and send out 75 messages to new potential clients. Powerful!
- Your Business Networks and Partnerships: Be it approaching partners, working through the Business Chambers or even old school (yet powerful) face to face business development; face to face is today even more powerful that what it was in 1950’s. As ‘everyone’ is online these days, going to face to face can convert very well.
Our advice and thinking? If you are in distress firstly we feel for you. We have helped thousands in this position. When the business is right, it’s then time to market and sell harder than you ever had before.
You can not only turnaround your business; but can make it even bigger than its previous peak.
To learn more and for any Marketing Assistance, please speak to your Condon Associates Group contact.