Rest & review - mulling marketing as well as wine
Christmas is a key time of reflection for many. Spending time with friends and family shifts perspective and gets us thinking about what really matters. And although you might conclude that work is of no great consequence in the grand scheme of things, the reality is that work is a fundamental part of life for most people.
For leaders, separating themselves from work is sometimes almost impossible. Work isn’t something you ‘do’ it’s a big part of who you are - creatively and emotionally. This means objective, strategic thinking is hard. A point that most successful leaders willingly concede but still find challenging to get to grips with.
Christmas is the time of year when people with busy brains, brilliant ideas and growing businesses have time to have a really good think. If you find yourself mulling marketing, as well as wine, here are some points to consider.
Who are your customers?
Challenge yourself to be really specific. Get beyond a generic group or sector to think about the individual people you are selling to. If you need to reach the CEO your approach will be different to targeting the Head of HR or Head of Finance. What are their motivations to buy? Once you understand what they are looking for, you will have a clearer idea of how to position your product or service.
Look at your website and imagine you are the customer, put yourself in the customer’s shoes. Do your customers land on your website and feel like they’re in the right place?
What are you selling them?
This might seem obvious but the customer is not always buying what you think you’re selling. If you think you’re selling a simple product, but the customer is more interested in the fact your product is customised, perhaps you’re selling a product and a service?
When you understand exactly what you’re selling versus what people want, you can leverage it to your advantage. Why market a single product if it in fact it’s the expert advice or design that your customers are really interested in? Does your website clearly articulate what you offer and who you are?
When do your customers need you?
Timing is everything. Supermarkets know this. Think about end-of-aisle product placement – BBQ meats on a sunny day or umbrellas when it’s raining. There will be certain points in time that are relevant to your customers. When do people need you, and how can you tailor your marketing activity to land in front of them in this moment? It’s the best way to make sure money is well spent - the right message to the right people at the right time.
Could your marketing be landing at the wrong moment?
What marketing strategies could you adopt to grow?
If you want to grow, there are simple strategies you can follow. The easiest is to repeat success - existing products to existing customers, this is called market penetration. If you’re looking to be a little bolder you might adopt a strategy of selling existing products to new customers (market development) or new products to existing customers (product development). Finally, if you really want to go for it, you might try and bring new products to new customers (market diversification).
This is well-known marketing tool developed in 1957 called the Ansoff Matrix.
Who is steering your marketing?
Leaders are ultimately responsible for the strategic direction of the organisation. You might be managing marketing resources without a clear understanding of what you need to do. Working with an expert marketing consultant could be hugely useful to you. More cost effective and agile than a full-blown agency, with the ability to help you take control. This could mean giving you the support you need to bring marketing back in-house, helping to manage numerous marketing suppliers, or simply getting stuff done.
If you’d like an experienced person, to work with you to make 2024 the best year yet, please do get in touch.