Marketing strategies – Expediency or what?
30 years in business has taught me not to be complacent. In marketing it’s easy to fall into the trap of following the same old routines. Mix it. Everyone is pushing Facebook, Twitter, and Linked In to boost company’s ratings, but these can soon feel like an old pair of shoes – so what more can you do?
Ask the right questions
Where is our business heading? Is our marketing just making noise? How stable is our customer base?
Example: Associaction Enterprises
Examining AE’s performance within the association management services market, to identify the company’s strengths, weaknesses and opportunities for growth in a fast changing services sector. An internal audit of the business was carried out followed by an external audit that assessed the demands of membership organisations for AE’s managed secretariat services.
The data informed a new marketing strategy developed for the company.
Find out what customers feel and want
What about a customer survey?
Example: Korbond – Haberdashery Business Insights
A nationwide survey established how independent retailers in the craft/hobby sector selected the haberdashery products and how they determined the commercial criteria that applied. Face to face depth interviews and telephone interviews were carried out across the UK to build an accurate picture of distribution, test sector resilience, and assess the retailer’s willingness to stock new product lines.
Mystery shop your competitors?
An ounce of insight turns £..s into profit!
Example: BAXI – Energy Related Products Legislation ErP
Trade research was undertaken to understand the strategic approaches taken by UK boiler makers and white goods manufacturers when planning for the introduction ErP legislative affecting product labelling requirements. Opinion research was carried out to gather information on the measures taken by different manufacturers preparing for the implementation of ErP, and to study how competitors in the condensing boiler market viewed the introduction of the new legislation.
Get a new plan
Is our marketing plan current? Do we in fact have a plan?
Example: Personal Budget
Research was carried out on behalf of Leicestershire Adults and Communities to evaluate the impact of the launch and ongoing delivery of ‘Personal Budgets’ in North West Leicestershire. Personal Budgets underpin the modernisation of social care in England and will be rolled out to all regions.
The research was carried out over eleven months, between June 2010 and April 2011, and involved consultation with service users participating in the pilot scheme and staff working on the Pathway. The research was commissioned by Tony Dailide, Assistant Director, Promoting Independence, for Leicestershire County Council’s Adults and Communities. The study identified the positives and negatives from the pilot to enable the fine tuning of policy in the roll out.
In business we can be expedient but we must never be complacent.
Also, if your business is located in Leicester or in an area of the East Midlands that is supported by ERDF funding, you may be eligible for a grant of up to £25000 towards your marketing. Call Paul Lockton for details. He will tell you how to make the most of the grant and how it can help you:
> Develop new products or services
> Find new customers
> Create new marketing materials
> Boost production capacity
> Renew IT systems/software
> Develop website/online sales
> Franchise the business
> Build a stronger team
> Implementation of plans
Marketing Innovation Ltd has 30 years experience and offers a wide range of services for planning and research. We act to move your marketing strategies and plans swiftly forward with professionalism and care.by