e-nexus Ltd

Marketing is so much more than promotion

No matter the size of your business every penny you spend & every hour you commit to your marketing has to count towards you achieving your business goals.

Promotion is an important part in your marketing efforts but ‘effective marketing’, the entire marketing that satisfies the needs of your customers is so much more. You can have a great promotional campaign but if your product or service isn’t wanted or you are charging prices that are above what your target customers will pay then it will struggle to deliver.

Print

To have ‘effective marketing’ you need to consider a wider range of factors than just promotion. Much of it isn’t difficult with the result being that it can transform the impact of your marketing. Here are just a few ideas:

• Start with product. Give customers what they need not what you think they need. Think wider than the actual product – consider the other features that surround your product – delivery methods and times, guarantees, installations, refunds, exchange policies – all of which can make your product or service more attractive.

• Speak to your customers. Ask them what they need and want from you. Find out what they think of your product or service and how it can be improved.

• Ask your customers for reviews. If they are liking what you do then encourage them to share with others what they think of your product and to post reviews on-line.

• Regularly monitor your sector and competitors. Consider how tastes are changing or new products are being launched and adapt where necessary.

• Make it easy for people to acquire your product. That maybe how they can find you or buy your product on-line. Make sure your website is mobile responsive and is search engine optimised.

• Develop your team. Ensure that everyone who works for you has great knowledge about your business and offer. Ensure they also have the right attitude & provide the level of service your customers would expect.

• Be responsive to your customers. Ensure you follow up on enquiries quickly – not many buy products or services from a company they have had to chase or have had to wait a long time to respond.

• Deal with customer complaints well. No doubts you have all had customers who haven’t been completely satisfied but how you deal and resolve their compliant will make all the difference to whether they buy from you again or recommend you to others.

• Measure, measure, measure. If you don’t measure your marketing you can’t understand, control or improve it. Use tools such as Google Analytics to see how well your website is working, monitor your email performance or conduct market research to understand what your target audience think about you and your product or service.

 

Measure for success: Using the right insight & data to boost your marketing ROI

Measuring your marketing performance

Our mantra as a business is simple – MEASURE, MEASURE, MEASURE. What you don’t measure you can’t understand, control or improve. But what does that mean? It certainly doesn’t mean measure everything but instead measure the right things so you can combine relevant data and insight to understand and if required amend your marketing activity.

However, before you consider measurement, you must be clear as to what your business goal is and how your marketing efforts will help achieve it. Depending on whether that is an increase in sales, lead generation or simply driving brand awareness, the marketing strategy and thus the approach you take to data capture, monitoring and measurement could differ enormously.

The revolution in digital marketing has meant that we as marketers now have access to more data and insight than ever. We however still meet companies that tell us they have no data but that is rarely the case. For many we go on a journey of discovery, helping them to think about and identify what data they have, how it is captured and where it’s stored – and yes at times that includes uncovering all the data and insight stored in numerous note books, diaries, excel spreadsheets, business card holders and even their own heads.

For some others they find themselves overwhelmed by the volume of data they have to hand. From website performance via Google Analytics, effectiveness of emails and digital advertising campaigns through to data and insight captured in CRM systems and market research. The focus here is to think about and map relevant data and insights to business goal so you can spend your time and efforts on monitoring the correct metrics whilst discarding the rest.

For example do you know what you spend on gaining new customers compared to keeping the customers that you already have? How effective are you at keeping your current customers? With all of the time, resources, and money put into acquiring customers it is important to know that your efforts aren’t wasted when customers don’t remain loyal.

Customer retention rate is a great way to measure how successfully you are maintaining customer relationships. On a more granular level, you also need to know which types of customer you are remaining loyal and at which point in the relationship a customer leaves, so that you can make the necessary adjustments.

According to a study by social media marketing software provider, Flowtown, they found that maintaining existing customers costs six to seven times less than acquiring new customers. A further study by Bain and Company reported that increasing your customer retention rates by just five percent led to an increase in profits between 25 and 95 percent.

Monitor others

Don’t forget to monitor the performance of other organisations be they competitors or great businesses you are aware of. For example social media engagement that your competitors are gaining can provide a useful benchmark over your social posts performance. Don’t just look at the posts but aim to delve deeper by for example splitting the monitoring of both organic and paid posts. If your competitors out perform you on their organic posts then it would suggest that their content resonates better with their audiences thus boosts their reach for ‘free’ and how a modification in your approach could provide real benefits.

And finally

Senior Managers don’t want numbers thrown in their faces, so marketers need to use data to tell a story. An endless stream of data, numbers and metrics are tough to digest and carries less meaning than visual methods of presenting data.

When telling your story, make clear, data-grounded recommendations. For example you may say “You’ve noticed that your business spends 20% of the marketing budget on social media, but you’re not seeing great results. I recommend cutting back and allocating money elsewhere.”

Efficient marketing requires data, but senior managers aren’t concerned with every scrap of it. They want a clear view of how your customers behave and how marketing projects impact the business. To keep your senior managers in the loop without wasting his time, present them with these metrics.


About the author

Richard is founder of e-nexus Ltd – a new Marketing, Performance and Measurement agency based in Bournemouth. He is a career long marketer, holding numerous senior marketing positions throughout his 20 years in the profession.  Describing himself as a marketing strategist, performance and measurement specialist, Richard spends time working with business owners, managers and marketers to help them improve their marketing decisions, investments and impact by harnessing the power of data and insights alongside his strategic experience.

Richard’s biggest passion is to help marketers show the value of their efforts and give them the confidence and skills to be able to share the story with their senior managers.  Richard helps organisations understand the importance of measurement and metrics as well as appreciate the breadth of data available to them in todays marketing world.  He also helps marketers bring together and interpret data coming from many different environments to make it meaningful and digestible at all levels of an organisation.

You can read more from Richard at his measure4success blog at www.measure4success.wordpress.com

How to Choose the Right Artwork for Your Space

The brain knows what the eye likes right?  We can’t always explain why we like how something looks, we just do.  So you may ask ‘why the article on how to choose art? I’ll just pick one I like’.  While this is a great approach, it may not always be the right one.

Wall Art for Your Business

One of the many things I love about art is that it’s subjective.  This is a particularly important point to consider if you have a responsibility for designing a space that is open to the public such as a hotel, restaurant or cafe.  Another important point to consider is the look and feel you are hoping to achieve for your space.  The art you choose should complement the design.  It should be noticeable but not distracting.

Let’s say for example you have a restaurant with a modern look and vibrant tones and you want a lively atmosphere from your guests.  You wouldn’t want to hang something on the wall with subtle, muted tones or it would disappear into the background.  In this kind of environment you want your customers focussed on the food they’re eating and the conversation they are having with each other but to also notice your chosen art work.  It may even become the subject of their conversation, helping to make your restaurant memorable for more than just the food.

Consider the Subject

Choosing the right artwork to complement your space goes a little deeper than the colours.  It’s equally important to consider how the subject is composed.  For example, if you’re hanging portraits, is the subject’s expression conveying the sense of emotion you want your customers or employees to feel?  

Did you know that the shapes formed in a piece of art can also have an impact on how it makes us feel?  As I’m a landscape photographer I will use some examples of my own work to illustrate what I mean.

The composition of Old Harry’s Rocks form a circle in the image below and circles are proven to have a calming effect on the viewer.  So this would work well in a hotel or cafe as you want your customers to feel relaxed.

_ORV8904

Conversely, if you are looking to give the viewer a sense of energy and confidence, images that contain triangles are proven to give the viewer a feeling of dynamism.  This would be useful in an office space for example where you want your staff to feel motivated.  The rocks ledges in this image form a series of triangles and are a good example of this point.  The motion in the waves add to the energy in this scene.

ORV_0729-Edit

I hope this article has given you a useful insight into helping you with your next interior design project.  If you’d like to have a landscape photographer work with your interior design team or help you choose wall art to complement your space please drop me an email to info@orvphotography.com or call me on 07928840034.  My name’s Owen by the way!

Thanks for reading.