Top Five Customer Loyalty Mistakes
December 19, 2017
Customer loyalty is a vital part of growing a healthy company.Learn More
Let’s be honest: if you’re a business owner and you don’t have a one page marketing plan, you’re basically flying blind. Quite often, this results in businesses that:
Clearly, a marketing plan is not optional. However, just having a marketing plan isn’t enough. You have to actually put it into practice.
The problem with most marketing plans is that they are long, complicated, and boring – you’d probably never want to look at them again. That’s why for most small-medium businesses, a one page marketing plan tends to work best. If you keep it simple, readable, and achievable, you might actually follow it!
Here are some pretty clear benefits of putting together a one-page marketing plan:
Because you’re limited to a one page marketing plan, you can only put the most important elements on your marketing plan. Each of these elements are explained in detail below.
You can’t market yourself if you don’t know who you are. This is about more than just the products or services that you sell, it’s also about what makes you different in the market.
Once you know why people should buy from you (as opposed to your competitors), you will find it much easier to decide on an approach with your marketing. This company statement is also a great piece of branding that you can put on your website, print marketing, and social media pages!
Example Company Statement: “We are Australia’s largest and most trusted manufacturers of red underwear. We focus on quality, fashion, and are proud to keep our products ahead of current trends.”
What are you going to spend? This is a relatively easy one – start with a standard budget of 5% of your annual turnover. NOT profit. Turnover. You can increase or decrease (which I don’t recommend) this as you see fit and depending on your profit margins, industry and speed with which you wish to grow.
Bear in mind some start-ups spend 100% of their turnover in marketing; some large construction companies might spend 2% to 3%. It’s what suits you; but 5% is a good start.
There’s no point doing any marketing until you have some concrete goals written down. Sure, it would be great to “attract more customers”, and “make more sales”, but until you write down exactly how many customers, what you want to sell, and how much you want to sell, and when you want to achieve all of this, it’s all too easy to drift along in your business without really achieving anything.
Example Goals: “We would like to increase our customer base by 10% within 1 year, and have 50% of our previous customers purchase from us again during this period.”
Your audience is not “everyone”. Sure, there’s a chance that anyone could need your product or service, and you don’t want to alienate any particular group of people, but when it comes to your marketing, if you can focus on one or two specific audiences, your efforts will be much more effective. Think of your ideal customers – who are the most pleasant to deal with, and who is likely to spend the most?
Example Target Audience: “First time mothers aged 20-40, living in Australian capital cities.”
If you want to take this further, you can develop ‘Bullseye’ profiles for your one page marketing plan, which isolate these target markets in more detail and often examine their state of mind during the purchase process. You could have five or more target markets but in this instance, let’s just focus on two.
Spend time researching your key competitors for your one page marketing plan. Know what their strengths and weaknesses are, what marketing is working for them, and who their audiences are. Being aware of your competitors ensures that you work hard to make your products, services, and marketing at least as good, if not better.
And remember, for many business, to achieve growth they might have to be taking revenue off a competitor. So to do that, you’ll need to be aware of what they’re doing. Let’s just get focus on two of them here and identify one of their key weaknesses that you can exploit.
How will your audience find out about your business, your products, and your services? You could have a presence on every social media channel, every advertising network, and spend hours per day creating content. But chances are, you don’t have the time or budget for this. Know what channels your target audience are likely to access most often, and focus your efforts on these.
There’s not much point in signing up for social media channels, a blog, and a variety of other platforms if you’re not going to share content on them. Businesses with no content give potential customers the impression that they’re either closed or very behind the times.
Avoid giving this impression by planning ahead with appropriate content that you can schedule or post regularly. Ask yourself what kind of content your audience might relate to, what information you could share that is relevant to your business, and how you can use it to engage your audience and grow the relationship.
Content is also great for SEO; Google loves a website with long-form content, updated regularly and read by lots of people.
Remember – the point of your marketing is to attract an audience, convert them into leads, nurture them, and then hopefully provide an environment where they feel comfortable to buy from you. Putting this process into a conversion funnel visually lays out the path a customer might take from first point of contact with you, through to the final sale. This is where all of your marketing efforts come together and actually make sense!
Put into a diagram your key channels, the offers you are going to promote on those channels, the content you will share to nurture your audience, and the products and services you hope to sell. See the diagram below for an example of what a simple conversion funnel might look like.
An important part of marketing that is often neglected is measuring for results. You should know which marketing tactics are working to achieve your goals, how much they are costing you, and where to invest more time and money in the future. Take note of which metrics are likely to be important to your business and ensure that you look at them regularly. Use your metrics to adjust your marketing plan as you go.
Let’s be clear on something here… every business has different areas that they need to focus on. This one-page marketing plan template is generic in nature, with a focus on digital marketing, so you may need to adapt it to your business’ requirements. Use it as a starting point and add or remove sections as you see fit. There are other articles out there with different approaches to a one-page marketing plan, so it might be worth looking at some alternatives.
Do you have a marketing plan, and if so, do you actually use it? Would you be more likely to refer to a simplified one page marketing plan that you can laminate and put on the wall in your office?
If you’d help or support with yours, contact me on email@example.com
Customer loyalty is a vital part of growing a healthy company.Learn More
Email Marketing, Marketing Automation
An autoresponder is simply a series of email messages that you create ahead of time and then schedule to be sent out at certain time intervals or in response to certain behaviours.Learn More
Do you need extra money to help your business grow? If you’re a small business in Queensland, you could be in luck. The Queensland Government has announced a new $10 million Business Basics Grant program, which supports small businesses across the state in grants of up to $5,000. Eligible small businesses will be able to […]Learn More