Adam Foale • November 17, 2021

A conversation about Marketing for your business

Danny turned the tables on the FS360 Podcast this week when he became the host and the regular host, Gavin, was interviewed about Marketing for small-medium sized businesses. Below is their conversation. You can also listen to the conversation below on our FS360 Podcast.

Danny: Marketing seems like a broad term – what does it mean for most small-medium businesses?

Gavin: Marketing is the action, Branding is the identity


For example:
 Marketing can be an ad campaign in a newspaper, radio or TV – it can be a Google Ad, an article on your website, your social media, your signage, and of course your Marketing Plan (Step 10 of the FS360 process).

Branding is your businesses identity – the thing customers remember after dealing with your company.


For example: 
Apple is known for high quality tech products that innovate – the iPod, the iPhone etc. They aren’t known for low prices! Netflix is known for high tech and convenience at an affordable price, Aldi Supermarkets are known for low prices but not the full range, McDonalds is known for low prices and convenience.

For small – medium businesses it’s important to develop your own brand identity over time – this ‘brand identity’ is then central to all your Marketing efforts.

Danny: What is the first thing that a small business should do to get their marketing and branding going?


Gavin: Develop a solid Digital Footprint – how your business is found and identified online.


This is the first place people will go to look for a business they need.


A Digital Footprint usually encompasses:

  • Google My Business listing
  • Bing Business listing
  • Website including SEO
  • Social Media accounts/pages


Listings on other directories such as Yellow Pages or if you’re a franchisee, the head office website.
The key is to make your digital footprint consistent with what you are offering. Logo, photos, Opening Hours, services, products, your company history and experience – all should appear the same on all these platforms.

Danny: OK so if you have your digital footprint in order, and need more customers what would you recommend?


Gavin: Then it is time to advertise and actively market your business.


The options are endless from taking out a radio campaign to Google Ads to paying an influencer to use your product and tell their following about it. All can work but the trick is to find the thing that works best for your business, then stick with it over a period of time.


For example: A client of mine who run a Tractor dealership – we currently undertake website updates, listing their gear for sale on other websites, ads in country newsletters in the district , eNews to client base monthly – no newspaper, radio, TV at all. They get all the enquiry and new clients they need!


Danny: I’ve heard that it is much cheaper to turn your current clients into higher yield clients than it is to attract new clients – is that right?


Gavin: Correct – if your business is up and going and has already got a list of customers who visit to buy from you (product or service) then it can be a lot easier to communicate with them to turn them into customers who visit more often and spend more.

This is where loyalty programs come into the marketing equation. Eg. Bakers Delight ‘Dough Getters’ reward $5 for every $50 spent (that’s 10% off) but the strategy is to get people to always buy their bread from you instead of someone else.

eNews to your client-base – a cheap and easy way to email your client-base regularly. Tell them about the latest deals, new staff members, new opening hours or a community group you are sponsoring.

 

Offer them a reward for referring a friend / family member to your business – this can be financial or a discount.

The trick here is to collect information from every customer – name, email, mobile phone number and address if you can so then you have that detail to market to. Not too much! Then you own that information and can use it.

Danny: How does Social Media work into all this?


Gavin: There are many platforms you can use and again it depends on your business as to which ones to choose. Facebook has an older demographic – TikTok has a younger demographic. LinkedIn allows you to add links to your posts to link back to your website, Instagram does not allows links in their posts.


So you really need to understand the platform before committing to it.


The trick with Socials is the planning. It’ easy to get overwhelmed by ‘having to post something’ syndrome.
Planning on a calendar is key – most businesses do not need a post a day – a post a week might be enough to remind your customers who you are.

Danny: What is Content Creation? And why is it important for Marketing?


Gavin: Creating content is another term for writing articles, recording videos, posting on social media etc. It has become key to a lot of marketing in the current day marketplace.


Marketing used to be about broad brushstroke ads to convince you to buy or make contact for services. These days we are in the ‘trust economy’ – customers may only use you if they think you are expert, qualified, knowledgeable on the product or service.

Think AirBnB and Trip Advisor – Google Reviews and Facebook Reviews – Trust Pilot and good old Word of Mouth – there are lots of ways now that potential customers can check on your business before making contact with you or even considering your business for their custom.

Google even reward it these days in their algorithm – they want to reward those who are giving great content and establishing themselves as experts. It’s the best way to get your website to the top of the search on page 1 of Google! ~~


For more information on any of the services available at Mulcahy & Co Marketing, contact any of our friendly marketing professionals today.


By Gavin Nash August 21, 2024
Marketing consultants and accountants help businesses succeed via strategic planning and financial management. Learn how these professionals improve market strategy, performance, and economic stability for sustained development. Introduction Success in today's business world requires more than a great product or service. Strategic planning and budgetary management are needed. Here come marketing specialists and financial officers. Each has distinct talents that boost company development when combined. Marketing Consultant Role - Recognizing Market Trends They know customer behavior and market trends. They begin with significant market research to identify trends, customer preferences, and competition. They analyze this data to assist firms in predicting market trends and modifying tactics. This proactive strategy keeps marketing current and successful, helping organizations remain ahead of the competition. Creating Effective Strategies This must create and execute a successful marketing strategy. Their campaigns target targeted audiences with specialized messaging. Real market data, not assumptions, informs these initiatives. This method improves marketing initiatives by increasing consumer engagement and conversion rates. Growth and Brand Positioning They create engaging brand narratives and manage brand communications across platforms to boost a company's exposure and reputation. This includes social media, digital ads, and content marketing. Marketing experts boost brand awareness and client loyalty, boosting company development. Performance measurement and optimization Measure and optimize marketing performance is another important consultant task. They measure marketing campaign success using KPIs. Through extensive performance data analysis, they determine what works and what doesn't for changes and enhancements. This continuous tuning optimizes marketing techniques for optimal efficacy and ROI. The Role of Accountants - Management and Financial Planning They advise on resource allocation via budgeting, forecasting, and financial planning. Their knowledge helps organizations make smart spending and investment choices to boost growth and stability. Compliance and Tax Optimization Tax standards are complicated, but they can help you comply. They comply with regulations to file taxes and assist companies to avoid fines. They also find tax savings and reduce tax bills, assisting firms to reinvest and thrive. Financial Reporting and Analysis Financial reporting must be accurate to comprehend a company's finances. These personnel provide precise financial accounts and reports that show financial health. They inform company choices by analyzing this data. Financial clarity helps firms evaluate performance, manage cash flow, and plan strategically. Cost-Control and Efficiency Cost containment and operational efficiency are other accountant priorities. They track and cut wasteful expenditures. They boost profits and financial health by finding cost-saving options and optimizing procedures. Collaboration between marketing consultants and accountants - Integrated business strategy They work together to boost the company. Coordination of marketing and finance initiatives promotes growth. Financial information helps marketing experts enhance their tactics, while they examine marketing goals when budgeting. This alignment guarantees that all company parts work toward common objectives. Improvements in Decision-making They improve decision-making. Marketing experts analyze market trends and customer behavior, whereas accountants analyze finances. This complete picture helps firms optimize resource allocation and prioritize high-potential activities. Long-Term Success They work together for long-term company success. They provide financial stability and efficiency while marketing advisors boost growth via brand positioning and initiatives. They offer a balanced strategy that promotes sustained growth and company success. Conclusion Accountants and marketing experts are crucial to corporate success. Marketing consultants know market trends, strategy, brand positioning, and performance improvement. Financial officer help with financial management, tax compliance, reporting, and cost control. Together, these specialists produce a synergy that boosts strategic development and operational efficiency. They both are essential for organizations to succeed in today's competitive industry.
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