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.

 

Social media: Let’s focus on engagement

How important is fan growth to you and your organisation. Is it still the top priority, the right priority and the key metric you report back on?

If you want your followers or like count to increase you can if you wish pretty much buy them. But you’re likely buying bulk likes from people who don’t even have any interest in your brand or product. So why bother?

At e-nexus we believe that fan growth doesn’t matter if your audience isn’t engaging with your content. You can have as many followers as you like but if what you post gets no engagement, your followers have very little value for you, your organisation or your brand.

Focus on engagement rather than the number of followers

Whatever your social media objective, engagement is a far more important and useful metric. For example the level of engagement influences the probability of and the numbers of your audience who will see (referred to as reach) your content in their news feeds.

One important example of engagement is shares. Shares influence how many people see your posts.  Recent changes to Facebook News Feeds prioritise content that comes from family and friends over content posted by fan pages. Therefore it is essential to create content that your audiences will want to share with their own networks.

Another critical but currently often neglected component is reactions. Facebook has updated its news feed algorithm again, this time with an emphasis on your audiences use of ‘reactions’. The social network now prioritises reactions over “likes” when ranking your News Feed. According to the company, a reaction is a stronger indicator that you want to see similar posts to ones you like.

Monitor others

Don’t forget to monitor the social media engagement that your competitors are gaining as this can provide a useful benchmark over your social posts performance. Don’t just look at the posts but aim to delve deeper by 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 well with their audiences thus boosting their reach for ‘free’.

For more ideas on how to transform your marketing visit our e-nexus blog at www.measure4success.wordpress.com or visit our website at www.e-nexus.co.uk

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.

e-nexus Ltd

Make the difference: Connect data and insight to transform your marketing

“Measurement is the first step that leads to control and eventually to improvement. If you can’t measure something, you can’t understand it. If you can’t understand it, you can’t control it. If you can’t control it, you can’t improve it.”
H James Harrington – author & international performance improvement guru

Given the scrutiny of numbers, metrics and KPIs within all organisations there has never been a more important time for you to begin to measure and understand the performance and impact of your marketing. By doing so you can identify what works, what could work better and what you should stop to ensure your marketing is being successful for your business.

Whether you are a business owner/ manager or employed to drive business for your organisation it is worth investing the time and brainpower in developing a measurement orientated approach. This will ensure you get the most out of your marketing resources (people, budgets, channels and creative) and help you demonstrate that your efforts are helping your business thrive.

Over the years we’ve seen many businesses and marketers invest heavily in carrying out and repeating creative activities but without being able to prove its value. Thus the question has always be raised about whether they’ve made the right choices and investment decisions.

So what’s the solution? In many cases simply planning ahead and identifying how you could go about tracking the impact of the activity (the metric you would put in place) before it starts. This allows you to think about what measurement actions you need to put in place before the activity commences e.g. UTM tracking on your digital ads, setting up events on Google Analytics or just recording how people heard about your current offer when you answer the phone call or talk to someone face to face.

So where should you start your measuring approach? What should you measure? Simply ask yourself these following questions?

Q1 – Does this metric help me make a decision
Q2 – When I view this metric does it help me understand how to get closer to my business goals?
Q3 – If you answer ‘No’ to both questions you are looking at a vanity metric and need to ignore it. Next repeat Q1 & Q2 to identify better metrics to monitor.

But why connect your data with insight?

A definition of insight is the capacity to gain an accurate and deep understanding of someone or something.

Data by itself doesn’t always give the complete picture. In fact on its own it can give you the wrong impression as to the impact of your marketing efforts as they can be affected by other factors.

For example we are starting to see companies report a drop off in engagement on Facebook compared to previous months. At first glance you may think by looking at your data that this may be down to the quality of the content that you are posting. However on January 11th, Mark Zuckerberg announced that Facebook would be changing its news feed algorithm to prioritise content from “friends, family and groups.” This means that people will see less public content like posts from businesses, brands and the media.

But connecting data with additional insight isn’t just a channel focus.  Your marketing efforts can also be impacted by a host of other factors including:

 

  • Changes to your customers situation, make-up or behaviours
  • Changes to how you are perceived in the market
  • Changes in your market position or operating environment
  • Activities and behaviours of other businesses in your market

Using insight around these factors will further enable you to have a clearer idea of what is happening in your environment and the impact on your own marketing efforts e.g. traffic to your website, responses to your direct mail, email open rates, click through rates from your digital ads, volume of phone calls to the sales team etc.

By connecting and responding to your data and insight you will be able to begin to transform your marketing impact and ensure your business is successful.

Want to learn more?

We are running our next e-nexus Marketing Hub event on 20th April at the Brewhouse and Kitchen in Southbourne. During our three hour workshop we’ll show you how best to connect data with some of the latest marketing insight and creativity to boost your efforts & ROI. During the session we’ll focus on:

  • The benefits of using data and insight to measure and monitor your marketing efforts
  • Identifying what marketing data you have access to and how you can begin to fill your data gaps
  • How you can turn your marketing data into meaningful insights for your business
  • How you can combine your data and insights with your creative approach to engage more of your customers successfully

For further information and to book your place via Eventbrite visit:

https://www.eventbrite.com/e/e-nexus-marketing-hub-tickets-43833062871?utm-medium=discovery&utm-campaign=social&utm-content=attendeeshare&utm-source=strongmail&utm-term=listing