Do you have your marketing strategy sorted for 2023 and does it drive through to your marketing plan, marketing tools and is it cohesive with your sales objectives?
This is a huge subject, and I will be covering different elements over the next few weeks but let’s start with your marketing strategy.
So, what is a marketing strategy?
In simple terms, you planned it and it happened, but let’s go through some of the steps involved in creating a robust strategy.
I like to keep things simple, so here are my 6 Steps to Marketing Success.
The Market & your Vision
Create Your Vision
Perform a competitor Analysis.
Understand your market position, USP and pricing.
Understand the future trends.
Review your existing customers for opportunities.
This is what we call “low hanging fruit” as it’s much easier to create sales from your existing customer base.
Typically, adding existing services that your customers are not taking at the moment or adding in new services or products that you have just launched.
Also, consider a retention strategy to ensure you don’t lose customers.
Identify your new customer prospects.
What do they look like?
Decision maker, size of business, geographical location, industry
Why should they deal with you?
How do you get to them?
Your services should be very aligned to these new customers, another textbook strategy is to mirror the mix of your existing customers. Review the industries you’re already working in and bring more of them into to your party.
The Marketing Pan
Create a marketing plan template with all the activities that you are going to apply, this should be a daily activities schedule and will have all the marketing tools that you are going to deploy.
Google Ads, Paid and Organic social media, Email, blogs LinkedIn etc…
Content creation and attraction will be key in 2023 and will need to be created for most of your activities.
Create a detailed plan (spreadsheet) of where all your enquires are going to come from in 2023,(by month) the conversion rate for each type of enquiry and the average value for each enquiry. You may need to do this by specific service to get accurate figures.
This should identify how much you intend to spend in each area and your predicted return on investment in each area.
If you can’t predict a return, then ask yourself why you are doing it?
Be careful here, as a referral may have a conversion rate of 90% but a cold call received from a prospect could be as low as 15%.
Industry averages vary on conversions but typically sit at around 20%
This should be done for both existing and new customers.
Whilst you may not yet know the names of your new customers you can plan to win them and therefore you can calculate the level of turnover and profit you can achieve.
Create an executive summary that summaries all your goals and objectives for 2023.
Perhaps only a one or two page document that clearly shows your marketing intent for 2023.
Remember, approximately 70% of your new sales will come from customers that have already seen your content and are ready to engage and work with you and this figure will continue to rise.
Customers are looking at your digital footprint and if they trust you, they will work with you.
Marketing in 2023 is effectively SALES!!!
Of course the most important thing to do now is to take action and create the detail around your plan.
Good luck for 2023
If you need any assistance then please message me or drop me an email to email@example.com
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