Many businesses are yet to embrace today’s technology and shape their marketing strategies to suit their customers’ behaviour. In Australia, despite increasing internet usage, approximately 50% of small businesses still do not have a website.
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Many businesses are yet to embrace today’s technology and shape their marketing strategies to suit their customers’ behaviour. In Australia, despite increasing internet usage, approximately 50% of small businesses still do not have a website.
Values, vision and mission are the foundations of a business, and a reference for alignment of business activity with the desired organizational direction. Avoiding activities which are not in accord with the agreed direction of the business results in a focused business and cost effective marketing strategy.
Cost effective marketing strategy is important for all businesses, large and small. Resources are always limited, requiring that expenditure is allocated where it will provide the greatest return. A great first step in creating cost effective marketing strategies is to undertake a Marketing Audit. We call it ‘The Marketing Health Check’.
Great marketing does not have to be expensive. Today’s technology has made cost effective marketing strategy even easier to achieve. The next few blog posts will feature tips to cost effective marketing.
Seth Godin’s new book Linchpin again makes us think whilst also providing inspiration. Seth talks of ‘lizard brain’ – that which prevents us from being ‘artists’. Art, Godin says is about creativity and boldness to challenge the status quo.
Great product design delights customers. It also renders significant benefits to business by differentiating a product in a competitive market, enhancing the brand, generating customer loyalty and reducing the marketing budget. The best (most successful) products are designed to suit the customer. They are shaped from a commitment to understand customer needs, behaviour and enhance their overall experience.
Choosing the right promotional mix to achieve business growth is complex. Understanding of the market, the product or service and customers will ensure selection of the most suitable promotional tools. However, the modern day marketing catch cry: ‘Stop Interrupting’ is proving key. A recent study supports the move away from traditional media methods. The new style of marketing via customer engagement has significant benefits for both the brand and the business.
As we head into a New Year it is timely to contemplate last year’s achievements and to clarify goals for the forthcoming year. Revisiting business and/or marketing plans – checking progress against goals, confirming targets and the strategies to make these happen – ensures all resources of the business are being applied effectively to the ‘right’ activities – the ultimate cost effective business activity.
The final episode of Australian Celebrity Masterchef provided several useful lessons for business and management. Our top five are described.
