Many people make personal New Year’s resolutions for 2014, and some may already have fallen off that particular wagon (when was the last time you worked out?). But how about the resolutions you’ve made for your business this year?
Read on for a few we think will be key for any SME.
1. Renew your business intelligence. Consumer/client behaviour is always evolving, and so must your marketing plan. Do you simply use the same one you had when you started—lather, rinse, and repeat? You have to constantly work to get to know your customer, again, and again, and again. If you’ve already been measuring and collecting client data through traditional market research or online metrics, then great. If you haven’t, it’s time you started. Ensure you’re constantly measuring results, so that any tweaks in business direction or marketing changes will be based on good data. Another great reason to gather customer information, is to leverage it to increase brand loyalty and retention. Show them some appreciation with limited time special rewards, or an ongoing loyalty program. Why not use a digital marketing and advertising platform like Global Coupon to target different consumer groups in different locations, with special coupon brand offers or listings, and a built in loyalty card program?
2. Pace yourself. Get out of the “more is more” mentality, and into thinking “win-win”—there is a difference. What’s your budget? In your “new year enthusiasm,” you may find yourself blowing a lot more of your annual marketing spend on campaigns, collateral or events to generate leads you can’t logistically follow up on, or that cost you more than your target market may be worth to you. “Vanity” metrics, like a huge spike in Facebook page likes, may look temporarily good – but how will you sustain your progress and achieve the conversions you’re looking for? Short-term growth does not always equal long term profitability; don’t get yourself into a “win-lose” situation by not looking at the big picture. Be consistent, agile and swift to respond to any market stimulus, but ensure you have the financial and logistical resources to build on your marketing and branding efforts at a pace you can sustain. Why not sign up this year for business membership with a turnkey marketing and advertising solution like Global Coupon, which gives you wider reach than traditional advertising for the same cost, can potentially offer better ROI than PPC in the short term, and is completely scalable to your shifting business needs?
3. Use technology to make your life easier. You work hard. Time is at a premium. And if you’re busy, so are your customers. What makes your life easier, when you’re constantly on the go? We touched on this in our previous post on marketing trends for 2014: that mobile device usage is up. If you use your mobile phone for a lot more than just making calls and sending text messages, your customers are too—so make this the year to ensure your business and brand are online, and in a format that is mobile friendly. Having an online presence (including a corporate website, possibly a retail website, and social media) that effectively informs and markets your brand, as well as your products and services, simplifies both your customers’ lives, and yours. Why not use a mobile-friendly marketing and advertising platform like Global Coupon to increase your customer’s exposure to your brand and products or services, and to drive them to your website, social media pages, or bricks and mortar locations?