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.

 

Data, what data?

The digital revolution means that you can now access more data and insight than ever before to understand the impact of your marketing. With so much being available for free and at a click of a button there are now real opportunities for you to better measure your marketing.

Through our day to day work we still support companies that feel they have no or very little data or insight. For many of these businesses we go on a journey of discovery, helping them to think about their needs. We work with them to identify what data and insight they actually have, what they need as well as how it can be captured and 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.

So if you think you are marketing data and insight poor or want to better measure the performance of your marketing consider some of the following to build your knowledge and understanding:

• Website analytics – many websites have some form of analytics platform linked to them so you can understand where your visitors are coming from and how they interact with your site.

• Social media analytics – these will tell you a lot about the types and levels of engagement you are receiving from your posts. Platforms like Facebook will also give you some demographic data so you can be sure you are reaching the correct people.

• Email – platforms like Mailchimp will tell you how many people open your emails, how high or low your bounce rates are and your click through rate to your website. If you A/B test your emails you’ll also get a much clearer idea of what type of content or subject headlines work better with your audience.

• Voice of the customer – such things as feedback from your customers as well as interviews and survey ratings will give you a clear view of what they think of your product offering or service levels.

• Competitive intelligence – It’s important to monitor the performance of others. For example monitoring the social media engagement that your competitors are gaining can be a useful benchmark for the performance of your own social posts.

• Sales data – understanding what and how frequently your customers are buying from you is key. What channels are they reaching you to make that purchase – is it via your website, retail outlet or exhibition stand?

• Customer churn rate – establish how many customers are cutting ties with you over a given time. Monitoring your churn rate is the first step in understanding how good you are at retaining customers and identifying what actions might result in a higher retention rate.

• Your top customers – sounds simple but identify which customers drive the most profit your business. When you can look at a single list and see your main customers you have the power to identify the unique characteristics of this group and work on attracting more.

• Cost of acquisition – calculate how much you spend in acquiring leads and turning these leads into new clients. How does that differ using different channels? The key here is that the fees you charge need to at least cover your associate costs.

• And finally conversations with customers – always a great place to start

Need some help on where to start with your data and insight gathering?

At e-nexus we undertake marketing audits where we’ll work with you to identify your data and insight needs, what you already have access to and how you can begin to fill the gaps. Just email us at info@e-nexus.co.uk and we’ll organise a time to meet.

Use Web Analytics to grow your business

There are numerous web analytics management platforms out there for you to use to monitor the performance of your website. Through them you can see where your website traffic is coming from, how many visitors you get, where they are going, and through which channels e.g. search, social and advertising they found your site.

One of the most popular is Google Analytics, used by many organisations to monitor and measure the impact of their website and other parts of their marketing mix. Here are just some of our top reasons why we at e-nexus think you should add Google Analytics or a similar system to your website and most importantly use the insight gained to boost your marketing.

• It provides key insights that can help you shape the strategy of your business.

• It’s easy to use. New users can quite easily grasp the basic principles of Google Analytics such as goals, conversions, visits, referrals etc.

• It’s free – Google doesn’t charge you for using this tool.

• Google Analytics is key when trying to understand where your website visitors are coming from. You’ll be much better able to see who they are and what they want.

• It will enable you to determine the impact of your related marketing activities outside of your website. Set up correctly you’ll have a huge amount of data around which adverting campaign or social media platform is working best for you.

• It provides real-time tracking. You can see who is visiting your website right now! This means that you will know amongst other things how many active users are on your site, which pages they’re looking at and where they are from.

• Automated data collection. Once you set up your account and copy a simple piece of code onto your site, Google Analytics will start collecting the data automatically. You can access a wide range of reports immediately whether they be set up by Google Analytics or custom reports created by yourself.

• Extensive help is available online. If you are a first-time user, Google’s documentation and videos on Youtube can help you get started quickly.

Google Analytics and tools like it can do wonders for your business. They provide you with easily accessible insights that can be used to improve the performance of your website and other areas of your marketing mix. Get set up and use the knowledge to enhance your marketing efforts.

Want to learn more?

For further tips and hints on how to connect data and insight to enhance your marketing impact visit our e-nexus blog at http://www.measure4success.wordpress.com

In addition we are running an e-nexus marketing evening seminar on 11th June in Southbourne, Bournemouth focused on web analytics.  Find out more and book your place by visiting our Eventbrite page.  Places are limited so book early to avoid disappointment.