Better Marketing Results

QR codes can be used to increase the response rate of your marketing campaigns exponentially.

They are quick and very easy quick to use.  Use your smart phone to simply point and scan.  

What are some of the benefits for using QR codes with your marketing?

• Extremely quick responses and conversions for traditional offline marketing
• You are able to track responses easily
• Leverage on social networks to reach out to new customers
• Use premium advertising and marketing space effectively
• QR codes are so easy to share

What is your own experience with QR Codes?  Have you been a recipient of a direct response piece using QR Codes for the 'Call to Action? Did you use it? What was your impression?

Or perhaps, you have used QR Codes with your own marketing campaign? How did it go? Were the results to your satisfaction?

At a recent small networking business group (SBNG) breakfast meeting, we discussed the challenges in marketing and what were their successful experiences in reach out to their target markets.  Here is the list complied from the meeting:

• Face to Face meetings (Personal Networking & Selling)
• Understanding exactly who is your target market/customer (targeting potential customers)
• Using a system to generate a prospecting funnel and manage the conversion process
• Testing marketing first before bulk roll-out of the campaign
• Having the right attitude toward communications with your prospective customers - helping instead of selling
• Target your own customer database using RFM segmentation (define)
• Market & sell your benefits not features (how) or use an Objectives-Benefits-Features (define) chart
• Use marketing mediums that your customers use not what you are comfortable with.

What did you think? What is your own experiences with successful marketing?

In my experience as a marketing consulting with business owners I havefound that the following traits are characteristics of successful businessowners along with a profound view that they have ownership and areaccountable for their own success.

• Planning
• Systemise
• Test & Measure
• Watch Competition
• Focused Marketing
• Engage with Stakeholders
• Persistence and Perseverance
• Cash is King
• Entrust your Staff
• Keep it All Together
• Look after Yourself
• Dedication and Passion

What do you think? As a business owner how many of these characteristics are in your profile?  What have you identified as an area for development and what are you going to do about it?

Many businesses focus all their marketing efforts in generating new customer leads while at the same time neglecting the potential gold mine that exist with their current customers! Your promotional marketing plan should always include targeting your most desirable customers with relevant and timely offers.

To identify your most desirable customers I recommend you utilise the Recency-Frequency-Monetary (RFM) segmentation method.

The RFM segmentation analysis method will identify your most desirable customers from your current customers using three different lists, namely;

1. Recency – to determine the time frame of orders from the date of your analysis. Your generated list must sort by the most recent orders first as your priority target.
2. Frequency – to determine the number of orders that customers placed with your business. Your generated list must sort by the most number of individual order transactions in descending order.
3. Monetary – to determine the total monetary value of orders placed on your business by your customers. Your generated list must sort from the highest total value to the lowest total order value.

Next, from these three lists select the top 20% in each of these lists.  These will represent your most desirable customers who are potentially most inclined to act on a relevant and compelling offer from your business.

Let us know what results you have achieved!

You most likely will have heard this before “businesses that fails to plan, plans to fail”.

It is a simple truth – you need to know where you are going to get there!

Small business owners must recognise that marketing planning is essential to achieving their company’s full potential for success. I am not talking about a huge document that sits in the desk drawer never to be taken out again once it has been prepared.

In small business, you need a practical and concise document that you can refer to regularly. It should not be more than two to three pages long because you need to post it in front of your work space where you can see it and refer to it frequently.

How can you put together such a marketing plan?

Here’s how to build your small business marketing plan:

1. Define and list your top three marketing objectives
2. Formulate your marketing strategies for your target markets
3. Identify the marketing programs needed to implement your strategies
4. Outline how you will track and measure your marketing results
5. Create a marketing calendar

The question is - as a small business owner what support would you need to be able to prepare such a plan? or from your experience as a small business owner can you do it yourself? or perhaps you feel you can do without a plan?

What do you think? Let us know your views and comments!