Smart ways to cut marketing costs and still get results

Few companies can afford to stop or cut back on marketing whatever the economic climate. You can still put together very effective campaigns with small amounts of money. A strong and consistent presence in the marketplace is the key to success.

Stop looking for new customers until you have maximised the opportunity with existing or lapsed customers. What about all those people who have enquired about your product or service but not purchased? Try re contacting them. What is the life of your product? When do customers need to replace? Develop a programme to contact customers who need to replace their equipment etc.

Know your conversion rate of enquiries to sales. This will help you plan the number of contacts you need to make. Know why you do not convert customers. It is often more important to know why you did not get the business than why you did.

What is your message? Determine what sets you apart from your competition and then promote your points of difference. Make your messages striking with attention grabbing headlines and images.

Planning saves time and money, so update your marketing plan. Establish your priorities and objectives and ensure that your activity is targeted and focussed.

Focus on the customer and their needs and wants not on you and your business. Tell customers the benefits they will get if they buy from you. Review all your marketing messages to ensure they are focussing on the customer.

Review your database. Mail selectively. It will probably be more effective to mail less people more often than one off campaigns. Select your prospects by profitability, number of employees etc then target them.

Integrate your marketing activities. Identify all the possible ways you could communicate with your target market. Select the ones you are going to use. Create an overall message that is consistent in style and content.

Follow up persistently. You need to contact prospects a minimum of 7 times, so set up a follow up system.

Listen. To customer comments, suggestions, complaints and use these to improve your product or service. Ask for feedback and use customer surveys.

Joint ventures. Try marketing your business with another business that complements your offering. You could share leads or mailing lists, offer a promotion to each other’s customers.

Avoid spray and pray marketing. Delivering your message to everyone you think may need your services is not cost effective.

Monitor results. This will help you save money by allowing you to eliminate unproductive marketing tools. Create a database to keep track of activity and the sales and leads generated. Make sure you ask prospects how they heard of you and record it.

Checkout your competition. Become a customer of or make an enquiry of your competitors. Notice everything they do, what did you like, what did you dislike, what could you improve?

Every contact with your customer is an opportunity. Ensure that every piece of paper including invoices etc carries your company message and include details of your latest promotional offer.

Electronic not paper. Send campaigns via email rather than post. It is a good idea anyway to mix the way you deliver your messages. Emails are also more environmentally friendly as well. Electronic versions of catalogues cut print times and costs.

Emails. Drive traffic to your site by including a link at the bottom of every email. You could use this to announce a new product or promotion etc. Collect the email addresses of visitors to your web site

Advertising. Use smaller space, but do not reduce frequency .Use your advertising to generate enquiries by offering rather than delivering your message and getting people to respond. Beware of the advertising sales person who wants you to advertise in their publication because your competitors do.

Review your keywords and phrases. If you were a customer searching for your goods or services what would you look for? Use keywords that will help you get your website higher up the search engines.

Maximise referrals. Ask satisfied customers to provide referrals.

PR. Use PR to complement your other marketing activities and to establish credibility and generate enquiries. As well as to publications and your web site send news stories to customers and influencers such as your accountant and bank manager.

Simple is best. You do not need an expensively designed multi page newsletter. Size is not nearly as important as how often you mail it and the value of the information that you give.

Get the word out. Speak at Industry events; write articles for newsletters and Industry publications etc. Sharing information will give you recognition and will help attract clients.

Register with search engines and free directories both online and paper.

Marketer of the year

This year The Chartered Institute of Marketing Member of the Year 2008 for Yorkshire and the North East went to Gareth Morgan of GAP Management Ltd.

Need personal help?

I will help you answer the question “what do I need to do to give customers what they want?” My marketing diagnostic can review and revitalise your marketing, suggest new ways and recommend changes. Give me a call on 01226 290288 or emailgareth@gapmanagement.co.uk
Whether you need a lot of help or a little please call me. Tell me what you want to achieve and over what period of time. I will explain the most cost effective and efficient ways to achieve your goals

About GAP Management

GAP Management helps business owners and managers to find, win and keep customers to increase sales and profits and to focus their sales and marketing activities.
Clients tell us that our work really works. They find working with us motivating and inspiring because we are good at finding out what they really need. We listen to them and come up with fresh ideas, and give them momentum and inspiration that helps them to increase sales and find new customers.