Connect with us

Marketing Tactics

Companywide Marketing Strategy

With all that’s involved in marketing, you need a strong team to help you out. Here’s how to make use of the people already on your payroll.

Al Lautenslager

Published

on

CompanyWideMarketingStrat

You already know this, but let me say it anyway: There aren’t enough hours in the day for you to effectively do all the things that need to be done in your entrepreneurial business. Your many hats include accounting, operations, technology, IT, HR, sales and, of course, marketing. And marketing is one area where building a team, using internal and external resources and delegating tasks, can really pay off.

Even though you may not have a marketing person on staff, you may have employees whose skills you can tap. In fact, most of your employees can probably do something to help out. But before involving your whole team in your marketing efforts, you need to figure out what exactly can be done in-house and what should be left to the professionals.

When deciding what can be done in-house vs what should be outsourced to a marketing professional or agency, the three most important factors are workload and experience/expertise. Entrepreneurial staff tend to run lean, so you must first evaluate your employees’ workload to see if they can handle additional responsibilities. You don’t want an employee working on a direct-mail campaign in lieu of getting the billing statements out on time.

Second, look at your current employees’ past experience. If you have an employee who’s handled media relations or had a job in journalism, for instance, you might want this person to start building relationships with the media. Then, as you identify more target markets and niches, you may want to hire a professional with more expertise to launch wide-ranging targeting efforts.

It’s important to point out that if you plan right and concentrate on delegating just a few marketing tasks each day, much of your marketing can be done in-house. Because marketing is made up of many elements, all working together, spreading your marketing tasks throughout the company is a smart way to get the job done. If you’d like to get started using your available resources, take a look at these suggestions for some easy ways to include different staff members in your marketing efforts:

Receptionist

Often, customers’ first contact with your business is your receptionist, so you should pay close attention to the way your customers are greeted. Do you have guidelines for answering the phone, and are they marketing oriented? I guarantee the more successful companies do more than say hello and identify the company name before transferring a call. Here are some ways your receptionist can help you stand out:

  • Create a new, non-standard phone answering script featuring the product of the month.
  • Hand out product information, catalogues or order information to
    all guests.
  • Use idle time to handwrite thank-you notes from the company to key customers and prospects.

Accounting Department

You may not look at your accounting department as a member of your marketing team, but personalised customer invoices can make a big impact on your company’s image. Here are a few other ways your accounting staff can get involved with marketing:

  • Stuff fliers into outgoing invoices.
  • Handwrite a note on billing statements.
  • Offer an accounting hotline to customers.
  • Join in on customer tours and sales rallies.

Creative Staff

Some companies anticipate – and eliminate – any loss in translation that might come through a salesperson or customer-service person by having functional staff people talk directly to customers. For instance, I know of a printing company that has their graphic designers speak directly with customers about artwork and graphics. These designers are proud to be part of the marketing process, especially when they’re so effective at improving the customer experience.

Production or Service Delivery Personnel

Don’t discount the people that do the physical production or delivery of your product – they know it well and can help you reach customers directly. Some ways they can make an impact on your image:

  • Enclose a reminder to reorder in your packaging.
  • Have them participate in brainstorming meetings about packaging and bundling ideas.
  • Show the production department on customer tours.
  • Feature their employee profiles in your company newsletter.
  • Include a notice in all packaging that states, “Produced and Packed with Pride,” with the employee’s signature.

The marketing efforts you can have all your staff do are only limited by your imagination. The bottom line is, getting everyone to participate in your marketing will go a long way within your organisation and with your customers to improve your business image and bottom line – and successes will be shared by all involved.

Tips for All Employees

  • Have employees research the competition or research and compile customer databases. This works especially well with employees who are heavily involved with computers and like to surf the Internet.
  • Tap into employees who have computer graphics skills that might be used on the job when you need a logo or creative concepts developed for marketing and advertising. You might be surprised at how passionate an employee will be about a project of this type.
  • Issue press releases about other activities employees are involved in, such as their volunteer efforts in the community.
  • Include employees in brainstorming sessions regarding marketing, creative work, special-offer planning, customer communication planning, event planning and so on. It doesn’t take a marketing pro to come up with a great idea.
  • Have employees deliver things to customers during idle times. This can include actual product delivery, quote delivery, a thank-you gesture of a box of bagels, or lunch brought in.

Al Lautenslager is a marketing and PR consultant, guerrilla marketing coach and direct-mail promotion specialist.

Marketing Tactics

Useful Marketing Tactics For Growing Businesses

Customer acquisition, customer experience and content marketing can be identified as the three most important marketing strategy areas to focus on.

Jandre de Beer

Published

on

marketing-tactics

Digital marketing offers the business world so many advantages, including the ability to communicate with their target markets quickly and easily. Unfortunately, digital marketing has also opened doors for companies to flood mail boxes, news feeds and ad spaces with junk mail and spam resulting in customers tuning out to anything irrelevant and suspicious.

Customers have become less likely to trust companies and less receptive to messages. The only way for valuable messaging to stand out from the noise is if a business knows how to market itself properly.

Over and above advertising, there are a lot of other aspects that contribute towards an effective marketing strategy, these include research, email, content creation, list curation, social media and even customer service. To be a successful marketer it isn’t necessary to become an expert in every single marketing tactic, but it is important to master the most important areas. Customer acquisition, customer experience and content marketing can be identified as the three most important marketing strategy areas to focus on.

1. Customer acquisition

Of course, not all customers are the same. Some customers are only interested in buying products on sale from a particular brand and then never interact with that brand again. Acquiring, and of course retaining customers with a high lifetime value should be the overall objective for businesses, but this requires more time and money being invested in better, more qualified leads. While the upfront costs might be higher, in the long-term this investment will pay off with continued business from these lifetime customers.

2. Customer experience

Competitive pricing can’t be the only aspect that businesses focus on in order to stand out against competitors. In the current digital era customers expect a good customer experience when they deal with brands so this should be an important focus area for all businesses. Customers expect fast and seamless experiences such as intuitive user interfaces and processes, fast websites and service response times, as well as accurate information about the problems they face.

Customers don’t want to waste their time on websites that require them to jump through hoops, and they definitely don’t want to feel misled by anything a business is communicating. Customers will quickly move on to other sites that offer better experiences as well as other businesses that are more trustworthy. Good customer experiences can go a long way.

Offering more personalised, interactive engagement tactics and improving the customer technology interface should be high priorities for businesses.

3. Content marketing

Marketing is no longer about telling customers that your brand is the best. With the movement towards content marketing, marketing has become about showing customers why you are the best. Content marketing is a legitimate, effective strategy that every business and brand should make use of. While content marketing is a lot more cost effective than outbound marketing, it also generates three times as many leads and offers many other benefits.

Content is a key feature for growing businesses who want to survive in an information rich environment. Customers are looking for brands that provide value beyond their products so creating high-quality content can help you grab your audience’s attention.

In conclusion

Although there are many other factors that are involved in an effective marketing strategy, seeking out customers with a high lifetime value, providing them with a great customer experience while also providing them with valuable content is a recipe for success.

Continue Reading

Marketing Tactics

An ‘Outside-the-Box’ Approach to the e-Commerce Unboxing Experience

Get started by keeping three elements in mind – recyclable/re-usable packaging, personalised thank-you notes and free samples.

Daniella Shapiro

Published

on

ecommerce-unboxing

With a predicted 24,79 million e-commerce users in South Africa by 2021, online shopping is here to stay, making it impossible to escape the predicament of perfecting the art of product packaging. It’s time to think outside the box when it comes to creating a meaningful unboxing experience. Get started by keeping three elements in mind – recyclable/re-usable packaging, personalised thank-you notes and free samples.

Recyclable/Re-Usable Packaging

Certain types of product packaging are having a tremendous negative impact on our environment, with 5.35 trillion pieces of plastic debris littering the world’s oceans, and with 269,000 tonnes of this amount floating on the surface – and plastic isn’t the only culprit. Did you know that it’s impossible for Styrofoam to ever be broken down completely? And that 1 million single-use coffee cups wind up in landfill every single minute of every day? These statistics make it obvious as to why it’s becoming so important for business owners to be more conscious about the type of packaging that they use.

Many business owners wonder if their customers really care whether their business is doing its part to protect the environment. According to Forbes and a 2017 Cone Communications CSR Study, the answer is a resounding ‘YES, they most certainly do!’.

87% of the consumers surveyed stated that they always have a more positive image of a company that supports social or environmental issues, and 88% claimed that they usually feel more loyal toward a company that they know supports social or environmental issues.

Thoughtful Thank-You Notes

The unboxing experience should be a unique and personal one, and it should be just as memorable as the experience of utilising the product itself! So, make it all the more special and build customer loyalty by including a personalised thank you note. Address the customer by their first name, thank them sincerely for their patronage and end off by giving them some helpful advice regarding the product, or share an interesting benefit of using it. Go the extra, extra mile by hand-writing the letter too.

Free Samples

Everyone loves getting free stuff. Why not bolster the unboxing experience by sending over a little bit more than expected? Not only will a free sample put a big smile on the face of the receiver, if they actually enjoy using it, there’s also a good chance that they’ll be coming back to order more. According to Shopify, free samples have the potential to boost sales by as much as 2,000%.

When it comes to packaging, make the right choice. Sustainable, thoughtful, memorable. Your customers, and the environment, will thank you for it.

 

Continue Reading

Marketing Tactics

The Facebook Ads Strategy That Can’t Lose

It’s a numbers game.

Entrepreneur

Published

on

facebook-ads-strategy

Running a profitable Facebook Ads campaign is simple. Not always easy, but simple.

There is a formula that can guarantee a profitable Facebook Ad campaign. Once you know the formula and the values to plug in, you’ll never sink money into a losing digital ad campaign again. I know it sounds too good to be true, but stick with me…

The Guaranteed Growth Formula

Here’s the entire formula: CPA < AP

Were you expecting coefficients, remainders and dividing by polynomials? Nope, there are only two values that matter when assessing your digital marketing funnel.

1. CPA – Cost Per Acquisition

2. AP – Average Profit Per Client

If your Cost Per Acquisition, the amount you pay to generate a paying customer using Facebook Ads, is less than the Average Profit you make from each new customer you’re guaranteed a profitable campaign.

Calculating Average Profit

To get average profit per client, sum your total revenue from new clients and subtract what you spent to serve them. Divide the result by the total new clients. For example, if you made $75,000 from 10 new clients over the past year and it cost you $40,000 to serve them, your average profit is:

 ($75,000 – $40,000) / 10 = $3500 Average Profit Per Client

If your average acquisition cost for similar future clients is less than $3500, your campaign will technically be profitable.

Of course most businesses won’t want to spend all of their profit on acquisition. An average business can expect to invest at least 7 percent but no more than 15 percent of revenue in sales and marketing. If Cost of Goods accounts for 60 percent or more of total revenue, your low profit margin may make it difficult to afford successful advertising. Decrease operating costs by increasing efficiency or adjust your margin by raising prices.

Don’t make the mistake of calculating Average Profit based on revenue only from the first sale. Use at least six months of revenue or your lifetime client value as the basis for your calculation, or you risk underfunding your marketing and sales budget.

Related: Here Is Why Your Facebook Ad Campaigns Aren’t Producing Results

Calculating Cost Per Acquisition

Let’s assume you’ve considered all of your marketing and sales costs and determined you can spend $350 per new client on Facebook Ads. Let’s reverse engineer your ad campaign to see if a $350 cost of acquisition is reasonable.

The simplest Facebook ads funnel includes four metrics that build upon each other to determine your acquisition cost. I’ve included standard benchmarks for use as a starting point, but your results may differ:

1. Click-Through Rate (CTR) – Percentage of people clicking on your ad. Your CTR should be near or above 1 percent.

2. Cost Per Click (CPC) – The cost of one website visit. CPC should generally be below $3.

3. Lead Conversion Rate – The percentage of site traffic that becomes qualified leads. This value should be 20 percent or above.

4. Sales Conversion Rate – The percentage of leads that convert to a sale. Aim for sales conversion at or above 5 percent. (E-commerce companies often skip the Lead Conversion stage and have a Sales Conversion Rate of 1 percent or greater.)

If 10,000 people view your ad at a 1 percent CTR, you’ll get about 100 website visits. At a $3 CPC, you’ve spent $300. Since 20 percent of your traffic will become leads and 5 percent of those leads become closed sales, we can calculate that you’ll generate approximately 60 leads and three new customers.

Your estimated acquisition cost using Facebook Ads is $100 per client, which is well within your budget of $350. This cost may rise as you scale and target less optimal prospects, but as long as your acquisition cost is less than $350 you’ll make an acceptable profit.

Complex funnels can include several ads and conversion points, but the Guaranteed Growth Formula of CPA < AP still applies. There’s no immediate reason for concern if your metrics differ from the benchmarks. You can and should split test ideas for improvement if your numbers are far from what you expect, but don’t mess up a good thing until you’ve got a better one.

Optimising Your Guaranteed Growth Funnel

If unhealthy metrics cause your acquisition to cost more than what you’ve budgeted, start with these adjustments:

Click-Through Rate Too Low or Cost Per Click Too High

If your CTR falls far under 1 percent Facebook may stop showing your ads or show them to second-rate audiences causing your traffic to tank and CPC to increase. To improve your click metrics, adjust your ad copy (headline and body text), ad creative (image or video) and highlight the benefits in your offer.

Refine your audience. Tailor your copy, images and call-to-action to the audience you’ve selected and ensure that your audience has the desire and means to act.

Lead Conversion Too Low

If leads aren’t converting at 20 percent or more, either the promise made by your ad isn’t congruent with your landing page, or the process of moving forward is too difficult. Try using the same image and headline in your ad and reduce the form fields in sign-up forms to the bare minimum. Also try retargeting visitors who don’t sign up with ads stating the benefits of acting now, or with a different offer.

Related: Staying Relevant In The Facebook Age Of Meaningful Social Interactions

Sales Conversion Too Low

If you’re an Ecommerce brand with sales conversion below 1 percent your shopping cart or sales process may have too much friction. Simplify the sales process to decrease clutter, or increase trust by adding testimonials and trust signals near important calls to action.

Your sales process may need improvement, but that is beyond this article. In the meantime, you can still increase revenue by cross-selling and upselling those who convert. You may also improve client retention with recurring contracts. Yes, that’s why many software companies are switching to cloud-based subscription models.

When used properly, The Guaranteed Growth Formula of CPA < AP makes Facebook Ad marketing an investment, not an expense. Using the formula, the most you should ever risk is a small initial budget to test whether your estimated calculations hold true in practice.

If your net profit is 3X your acquisition cost, your funnel returns $3 for every $1 you invest. Instead of asking “How much should I spend on marketing?” The question becomes, “How much do I want to make?” I’ve built a Facebook Ad Growth Calculator that incorporates the Guaranteed Growth Formula to help execute your growth strategy. Input your revenue goal and it will estimate the Facebook Ad impressions and traffic required to reach it.

This article was originally posted here on Entrepreneur.com.

Continue Reading
Advertisement

SPOTLIGHT

Advertisement

Recent Posts

Follow Us

Entrepreneur-Newsletters
*
We respect your privacy. 
* indicates required.
Advertisement

Trending