When it comes to growing your business, there are so many things to think about when it comes to marketing: where do you even start? From branding and messaging, to budget, strategy and marketing channels, it can often be overwhelming to choose a starting point for helping your business to grow.
At McLuckie Marketing, we take a measured and deliberate approach to marketing planning for our clients. In this first in a series of blogs aimed at outlining the various areas you need to consider when marketing your business, we detail the first three areas we work on when starting a marketing process for clients.
Step 1: What makes you unique?
You may have heard the acronym USP (Unique Selling Point) bandied about when people are talking about a product or a service. It’s really just marketing speak for defining what makes you different and why customers should buy from you instead of one of your competitors.
It’s so important to have this information to hand, rather than just loosely in your mind or scribbled on an old note from when you started your business, as it should be used to inform the way you talk about and communicate your business to the wider world.
Sometimes, it can be hard to nail down what makes your offering special. To help with this, try to answer these questions and then form the answers into a sentence or two that can be used to communicate with potential customers:
• What is it that makes you passionate about your product or service?
• What specialist skills or experience do you have that are integrated into your offering?
• What benefit do you bring to your customers?
• Are you faster/cheaper/higher quality/more advanced than your competitors?
• When you are talking about your business, what do you usually highlight to people?
If you still can’t find your USP after answering these questions, identify some friendly, loyal customers and ask them why they love your product or service so much. They might even give you insights that are new to you!
Step 2: Who are your customers?
This may seem obvious, but quite often businesses don’t have a defined description of who they are currently selling to, or who they would like to sell to.
If you would like to acquire more of the customers that you already sell to, creating a customer profile or persona is a great step towards understanding who your customers are. Consider the following:
• Where are your customers based? Are they local, national, international? Is there a common geography where a lot of your existing customers are located?
• What do your customers do? Is there a common theme to their job titles? Do they share lifestyle habits? Are they within a specific age range or income bracket?
• Why do they need your product or service? What problem is it solving for them?
• How do your customers find you? Online? In-person? Through word-of-mouth?
• Where do your customers “hang out”? Online? Outdoors? At home?
• How loyal are your customers? If your product is more than one-off purchase, do your customers come back to you? If not, why not?
It’s possible to really dig in here, and detail a range of details about your existing customers and target customers. You could consider education level, income, hobbies or even personal values to provide a clearer picture of who you are selling to and who you would like to sell to.
When you have the answers to some of these questions, you can create marketing collateral that resonates with these individuals, and plan our your marketing strategy and tactics to reach them where they are – be that through digital advertising, direct mail, social media, sponsorship or any one of myriad marketing channels that can connect you with your target customers.
Step 3: What do you want to achieve?
What you want to achieve is a no-brainer, surely? More sales! Well, that is indeed the end goal when you market your business, however, it’s super-critical that marketing effort is fit for purpose, well managed and well resourced.
In general, a good marketing plan stems directly from the overall business plan, stemming directly from the business goals to ensure success. You must factor in the resource you have available both to implement marketing activities and, more importantly, to respond easily, professionally and in good time to the new enquiries that you generate.
If you would like to grow your business by 50% during this financial year – do the sums. Look at how many enquiries and sales came through in the last financial year and estimate how many enquiries and sales this means you will need to hit your 50% growth target. Use the required new business number to create marketing targets for leads coming into your business and how many of those leads will, hopefully, turn into new business sales. Make sure you will have the staff resource available to successfully service those new leads and turn them into loyal customers.
Marketing for growth can be tough, but if you plan it out and use the data you already have you will have a higher chance of success – and of getting a return on the investment you are making.
Our next blog will delve into further steps to take when starting to market your business, including competitive landscape, branding and marketing channels.
Lois McLuckie is the founder of McLuckie Marketing – an independent marketing consultancy
serving businesses across Edinburgh, the Lothians and the Scottish Borders.