We have listed below the key marketing elements for 2018.
In 2018 it is going to be vitally important to understand the overall direction of your marketing. In essence, this breaks down into a few key areas: - Overview Of Your Marketing Strategy-Your Objectives / Swot Analysis / Target Market / Marketing Budget / The Marketing Plan
Create an overview document with your objectives for your marketing for the year, this would include where you feel you need to increase your marketing activity and which areas of your market that you want to target. It's also important to understand how your business can best reach your target market and this will involve looking at all the current digital methods that suit and fit with your business.
The SWOT analysis is designed to identify your Strengths, Weaknesses, Opportunities and Threats. This is an important starting point as if done correctly it will identify the marketing actions required. For example your website may be poor and need upgrading, you may have a new competitor in your market or a competitor may have closed and you can take advantage. Be honest and make a list under each of the category.
It is essential to identify the markets that you would like to target, this is more effective in both response rates and in terms of cost. Machine Gun marketing is very expensive and will not yield the best results. Typical you would review your own customer base and identify the sectors that you believe you could have the best success for your business.
My advice is actually prepare your Marketing Plan first and then prepare how much this will cost you to implement. Cash is king so we can't just throw money at marketing but if done correctly you should get a good return on your investment and that should allow you to spend more than planned if you are getting the results. Consider the lifetime value of your investments when reviewing how much it costs to get a new customer.
This should be a working document, typically a spreadsheet that shows the monthly activity by month over the different methods of how you intend to market. This should include, Google Adwords, Social Media, Networking events, Events, Radio. A timeline for each activity should be established and the document should be costed and reviewed for the performance in each area.
The big questions that I would want to identify are:- Is my website ready for 2018? 80% of your customers / prospects will visit your website before they make a buying decision. The next big one is am I using enough ways to get to market? The more ways you promote the business the more business you will win. And Finally are you good enough at capturing your enquiries and converting them into business? A good CRM system is essential, you need to have a list of enquires that the business is receiving , where they're coming from and if you have quoted, what the value is in real time of these quotes and what your conversion rate is.