June 6, 2017
With the new financial year just around the corner (when did that creep up!?) and a brand new marketing budget on the horizon, now is the perfect time to be planning for future activity and allocating resources (no matter how big or small). It’s also a great time to be getting ahead of your competitors by giving your marketing efforts one final, end of financial year boost!
If you’ve haven’t yet had the time to develop your marketing strategy for 2017/18, don’t panic – we’re here to help with some simple advice and easy steps you can take to ensure success.
Firstly, start off by reviewing your marketing activities from 2016/17. Determine what campaigns worked well and delivered the highest ROI. Just as importantly, review those activities that didn’t quite meet your expectations and examine what might have gone wrong. Lastly, be sure to investigate some new, innovative marketing tactics that you may not have considered before.
When formulating your new marketing strategy, we recommend following these simple steps:
Learn everything there is to know about your current customer base. Specifically, determine their age, income, geographic location and purchasing behaviour. Having knowledge of this information will help you discover who is most likely to benefit from your business’ offering as well as how to meet their needs, wants and determine their motivation for purchasing your product/service.
If there’s one thing we learnt from online marketing guru Heather Lutze on her recent trip to Australia, it’s that it is okay to spy on your competitors! Having a sneak peek at their online profile is your one-way ticket to knowing their online marketing secrets. Using tools like SEMRush, SpyFu and others will allow you to ethically uncover their keywords, rankings and SEO strategies.
Setting specific marketing goals and targets will help keep you accountable during the financial year. A solid marketing objective may be to increase leads by 50% in the next 12 months. Pro tip: Ensure your objectives are achievable. There’s no point setting an objective of increasing sales by 1500% – if you know that there is absolutely zero chance of achieving this objective. Stretch yourself, but be realistic.
Once you’ve formulated your full-proof marketing strategy, ensure you track the outcomes so you can make tweaks accordingly along the way. For example, if you advertise an offer in a printed newspaper, be sure to include a promotional code so you can track those who claimed the offer. Additionally, we would recommend running the promotion online with a separate promotional code. If more visitors came from one medium over the other, we suggest focusing future marketing efforts based which ad performed better.
Following this process and implementing a solid marketing strategy is key to developing a clear plan of action that will help you grow your business.
If you’re struggling with your end of financial year marketing strategy and want to give your business a final boost before the books close, contact us today to arrange a no obligation consultation and take advantage of our end of financial year offer – spend a minimum of $3000 on your first order with us and get $500 off (terms and conditions apply).
Whether you need a new digital marketing strategy, social media campaign, marketing video or letterbox distribution, our experienced and talented team can help you grow your business through innovative, results-focused marketing solutions.
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