This question has raised its head a number of times recently as we are entering a time where seasonal fluctuations for some businesses can mean a downturn in business, but, in all honesty, it is very tricky to answer this one.
As we all know, each business is different and therefore is likely to require different results from its marketing activity. i.e yes, sales are key, but what sort of sales and would increasing repeat business be a quicker way to increase revenue rather than driving new client acquisition?
So, how do I answer this question of the “best marketing” without possibly coming across as evasive? Well, I tell clients and prospects that the only true way of discovering what works for their businesses is to test initiatives. For example, don’t fall victim to the Chinese whispers that direct mail doesn’t work or advertising doesn’t work, try them and see what happens. Include reference numbers and/or unique phone numbers to gauge response levels.
Also, I have found that, as marketing budgets shrink, ROI expectations seem to be increasing and some clients seem to pin all their hopes on a quick fix to a problem.
Stop this now! Marketing is all about identifying and fulfilling a need and this takes time. Don’t think of marketing as spending unnecessary money. Think of it as investing in the future of your business and building your brand.
The true success of a brand is measured in years and decades not months so don’t give up at the first hurdle and, if need be, talk to someone outside of your business to see what he/she thinks.
