Business goals and marketing go hand-in-hand - Part 2
If you got an allowance as a kid, you probably learned about that old saying, “having money burning a hole in your pocket”.
You may have that feeling from time to time with your marketing dollars. You see something that looks like a great opportunity and you spend the money.
As we discussed in part of one of this article, establishing your business goals first sets a solid foundation for successful marketing. They’ll also help you from spending your marketing dollars on something new and shiny that may not produce the results you were looking for.
Your best marketing efforts and investment should be specific to your business
Once you’ve established your business goals, you can start looking at marketing activities that will help achieve them.
Your business goals help you focus on the marketing that’s worthwhile
With your business goals in mind, you can run every marketing option through a series of questions, to decide if it’s going to meet your business objectives. For example:
- How does this help me achieve my goals?
- What will I get in return for my investment?
- Is this the best marketing option for this goal?
- Will this channel deliver my marketing message to my target consumer?
Pre-work makes the dream work
Before you choose your marketing activities:
- Set your budget. What is your marketing investment and what you expect to get from it?
- Review previous marketing activities. See what worked in the past and what didn’t.
- Look for current marketing opportunities. There might be a new way to access a key consumer market. Or your digital agency might have a special campaign offer. Stay open to exploring new marketing avenues.
Doing this preparation work will make it easier to choose the right marketing for each business goal.
Marketing channels and activities
You can look at marketing from a couple of different angles but for this exercise, let’s break it down into digital and traditional channels. In another article Traditional Marketing - Part 1 we shared a statistic that 75% of marketing activity today is online, or digital.
This is a good jumping off point for deciding what marketing you need to meet your business goals. You can expect that most of your marketing is going to be digital. But there is always room for traditional marketing channels as well. That’s tactics like events and outdoor advertising.
Business goals – meet your marketing
So now you have your goals, your budget and a few marketing ideas. Now bring it all together. In part one of this series, we chose three high-level goals as examples. Here are some marketing activities that work for each them.
Goal 1 – Acquire new customers. You’ll need marketing activities that introduce you and your business to new people. Good options for this are:
- Digital ads. You can target these to key consumer segments. A good digital agency can help focus your efforts.
- Social ads. Again, you can target specific audiences. Social sites like LinkedIn, Facebook and Instagram all have great marketing support available. As well, an agency can help you achieve results based on your objectives.
- Ads or articles in a regional or association publication. A neighbourhood newspaper or group-specific publication can offer access to a wider consumer base.
Goal 2 – Grow existing customer business. You’ll need marketing activities that help build relationships with your customers. Look for ways to reinforce common interests and the value you can offer to your customer.
- Email and or newsletters. Targeted, high-touch messages and content to your existing customers can help strengthen your relationships and grow your existing business.
- Social media groups. These are a great way to stay in touch with your customers. Create one yourself with your customers or participate in an existing networking or community group.
- Events. A customer appreciation event or activity is great for building customer relationships. They don’t have to expensive, as long as they offer value to your customers.
Goal 3 – Brand building. Be seen, be visible, be present. Your brand is a critical part of your business. You might want to consider assigning a portion of your marketing budget specifically to building brand awareness.
- Content marketing. A great way to expand your online presence. Thoughtful content that isn’t sales-related can help lift your visibility.
- Social marketing. These campaigns are more about aligning your brand with a specific topic or idea online. You can sponsor or support an online event or group that means something to your business.
- Outdoor advertising. Bench or billboard advertising in your community or region can keep you top of mind. Ensure you align your traditional activities with your digital efforts in terms of look, feel and voice.
Planning and research will help ensure you keep your marketing and business goals aligned. And after you’ve deployed your various marketing tactics, monitor their success, and adjust when necessary. If one of your efforts is not achieving success for its affiliated business goal, try something different.
The best marketing supports your bottom line and works to grow your business
Marketing isn’t a separate activity, but an integral part of your business development and an important investment in your business.
With the pre-work done, even if you’ve got marketing dollars waiting to be spent, you won’t end up feeling like you have a hole in your pocket.
Related articles:
Marketing: where you start makes all the difference
Understanding your ideal audience
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