Maximizing your marketing budget is similar to becoming a brand rubber band. You have been given a certain amount of flexibility and reach, depending on your budget, marketing support and overall outlook on how important growth is to your business plan. The likelihood of brand longevity and success is what you spend your budget on, how your initiatives are executed and managed and how far you are willing to stretch.
During December, take sometime to re-group on your marketing strategies. Whether your fiscal is in December or mid-year, this is always a good time to meditate on results to date and how you can evolve your tactics to ensure a more profitable New Year in 2013.
Maximize Your Online Marketing:
By 2016, more than half of the dollars spent in US retail will be influenced by the web. (Source: Forrester Research) Purchasing decisions are moving more and more online. It is crucial for companies to allot a certain amount of their marketing budget to online advertising strategies. However, strategies are only as successful as their execution. Make sure that you partner with a marketing resource that dedicates adequate time and real thought to your online marketing plan and how your actions will impact your long-term growth.
• Utilize your website ‘real-estate’ (web pages) for real content. Create front-page promotions and rotating marketing themes internally. Continually updating your online marketing will add value and ongoing interest from your brand fans.
• Build a new program and launch it, you can even re-vamp an old program and ‘re-launch’ it as an excuse to build excitement around your brand.
• Try utilizing a new media channel, like social media, to see how it will impact your brand growth.
• Continually collect feedback from your customers. They will feel involved with your brand on a whole new level, creating an opportunity to stay relevant during future purchasing decisions.
Your Customers Are Still the Key to Success:
The importance of a phenomenal customer experience is crucial in avoiding ‘the leaking bucket syndrome’. You have found a true treasure with clients that have worked with you. You have earned their trust and trust can last the lifetime of your business.
A loyal customer is almost 15-20% on average more likely to:
• Continue to work and/or purchase from you in the future
• Refer other clients to your businesses products of services
• Less likely to move to another product or service
While this is impressive, this is still a solid ‘80%’ plus point as to why you must maintain a healthy outlook on continually improving your products and services, your marketing techniques, social media marketing and targeted feedback collection. Stretching your rubber band beyond 20% retention will create beyond basic brand growth results for 2013, but you must be willing to move forward and try new marketing techniques.
At Add+In Marketing, we are utilizing December to focus on re-analyzing, implementing and managing the successful marketing campaigns and strategies that are important to our most important asset, our customers.
If you are ready to take the leap beyond basic marketing, give us a call and we will readily create a unique and advantageous plan to challenge the endless opportunities available for your business.