Clients will often tell us “I want more sales” when asked for their marketing objectives. Wow! Who knew? Unfortunately, this is an all too common response.
Sales are an outcome of activities. Activities or tactics informed by having a clear business objective, supported by a strategy.
The increasing complexity of marketing due to more informed and demanding consumers and exponential growth in channels, data, and content, causes many marketers to throw their hands up in exasperation on how to formulate that strategy. At which point, when pressed on what to do, it is not surprising to hear about just wanting to get results – give me more sales!
So what are marketers and agencies that support these clients supposed to do? The answers have not changed, and there is no need to reinvent the well-established principles of marketing. The advent of digital and social media only amplifies the need for a company to truly understand their target audience and ensure they are authentic in how they deliver on their value proposition. Focus on the fundamentals:
1. Have a clearly defined objective. You can’t hit what you are not aiming for. An objective is a clearly articulated measurable outcome (e.g., A 5% increase in a our new product line within 1 year). Each objective needs to have a plan. We are not marketing for marketing’s sake. If the investment your company is making in marketing is not supporting the overall objective of the business, then you are wasting your money. This requires every marketer to establish measures on how to assess the impact of the marketing investment.
2. Do your homework. Hope is not a strategy. Once you establish the objective, conduct a classic gap analysis. What do you know, what don’t you know (that you need) and how are you going to get the insights? What is your competition doing? What are the trends in your industry? Data is not enough – use your data to develop insights, which in turn can guide your marketing strategy.
3. Know your target audience. This is arguably the most important component of any marketing strategy. Too often, especially in a B2B company, there is this notion of having developed the most awesome product or service – and when we tell the world, they will just flock to us. The question to ask is, how will what you are offering to your target audience improve their lives? Know them. Know how they think. Know how they feel and act when something triggers a need for a product or service. A “build it, and they will come” approach rarely, if ever, works.
4. Know your brand. Authenticity is key. It comes down to the basic virtue of doing what you say. Has your company established a clear and inspiring vision and mission? What is your value proposition – what are your customers going to get in exchange for their time and money, and what are your employees expected to deliver on a consistent basis? Taking it a step further, when is the last time you reviewed your company values and how they were being applied?
5. Create great experiences. If you know your customers and you consistently express your brand, that is the key to both attracting and engaging your target audience – leading to the sales. However, creating awareness and even an initial trial is not sufficient. The traditional marketing funnel model has evolved into an ongoing fluid journey. We live our lives with needs and wants and endless distractions while being bombarded with brands constantly. But if the right message intercepts us through channels we use and aligns with what we believe will make our lives better, we will take the time and energy to consider what you are offering. And, hopefully share our experience with others and come back for more.
So, when things get crazy or somewhat overly complicated, go back and focus on the basics. Never forget who your customer is, be true to your brand, and create great experiences.