More sales is not an objective
Focus on objectives and process -- not just the outcome
When asked for their marketing objectives, clients will often tell us, “I want more sales,” or “I want more donations, more members, more growth.” You get the picture. Unfortunately, this is an all-too-common response that puts too much emphasis on the outcome rather than focusing on clear objectives, strategy, and process that, when defined and implemented, will lead to the desired outcome.
Before jumping to tactics, take a step back and develop your plan.
Sales are an outcome of activities (tactics) guided by an objective and supported through strategy. That is why developing a marketing plan before spending money on tactics is important, and it doesn’t have to be overly complex. It may seem daunting due to the increasing complexity of the marketing landscape. We have better informed and more demanding consumers along with rapidly changing and expanding digital mediums. This can cause some exasperation on how to formulate that strategy
What to do? The answers have not changed, and there is no need to reinvent the well-established principles of marketing. The more complex the marketing world seems to get, the more important it is to 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 and measurable outcome (e.g., a 5% increase in sales from our new product line within one 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 your marketing plans are out of alignment with the business. Know your business objectives first and then align your marketing objectives to the business.
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 to), 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 synthesize 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 you tell the world, customers will just flock to you. Do your research. A good question to ask is, how will your product or service improve the lives of your target audience? To answer that question, you need to get to know them. Learn how they think. Understand 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 constantly bombarded with brands. But if the right message intercepts us through channels we use and aligns with what we believe will make our lives better, we will then take the time and energy to consider what is being offered. And hopefully share our experience with others and come back for more.
So, when things get crazy or seem overly complicated, go back and focus on the basics. Clearly define your objective, never forget who your customer is, be true to your brand, and create great experiences.