Every business needs a solid marketing plan. After all, what is the point of investing time and money into starting a new business only to discover that there are no customers?
Creating a solid marketing strategy with demonstrable results in a cutthroat industry can be challenging. Even though there are numerous strategies and techniques for establishing profitable advertising campaigns, ranging from social media marketing to explosive brand recognition, it’s important to understand which strategies best serve your business goals.
In this week’s episode, our experts explore the various marketing types, and the steps businesses can take to develop a strong marketing strategy in the future.
Jorn Sanda, Business Brand Director, The Big Smoke Media Group
“No business needs marketing. Every business needs better income. That’s the rub with killer marketing strategies – knowing the best income and going after it. And determining when there’s even better income and making it happen when the time is right.
“Start-ups, at the very start, will rely on funding/ investment as their income. To market for that is to understand who the most likely investors are and what they get excited about, and craft your collateral – website, brochures, pitch deck – so that it excites potential investors on their terms.
“Scale-ups prove themselves by generating income from sales. That means knowing what’s most compelling to customers and presenting your collateral – website, brochures, advertising, PR – so that it excites existing and potential customers on their terms.
“Business performs best when talking with people rather than at them. It’s business-with-business rather than business-to-business or business-with-consumers. People who make up the market will only take note when experiencing the business in ways that excite them, or has a clear advantage for them – that they identify with.
“Killer marketing is about presenting what you have to offer. In terms of what compels people who make up your market. On their terms. Not what excites the founder, the team, or least of all the marketer.”
Suzette Bailey, CEO and co-Founder, reKnow
“When building a start-up, you normally have limited cash for marketing, so it’s critical to leverage ‘owned’ and ‘earned’ marketing as much as possible.
“Start by working your networks. Some of the people you know may be potential customers, some influencers, some partners and even investors. Communicate regularly about your journey, what you’re working on, the benefits you offer and your wins.
“Build your social media. Even when it feels like shouting into a void, it’s critical to be active, as this is a free way to build buzz. Not every post should be a sell. Discuss challenges your customers face, successes with your platform and industry news.
“Earn media attention for your start-up. You will need a compelling story and good relationships. Identify key industry journalists and publications, send them timely and relevant information about your business and insightful expert viewpoints on breaking industry news. Look for speaking opportunities at conferences and podcasts to extend this reach further. And repurpose all this content in your marketing.
“Finally, develop and implement a strong, consistent brand identity. This becomes your ‘uniform’ for building brand recognition over time across all your marketing channels.”
Daniel Franco, host of the Creating Synergy podcast and Managing Director of SynergyIQ
“If you’re scaling a business, and you’re not connecting with the right people, then you’re not going to be successful. It’s really that simple.
“The bigger and stronger your network is, the more likely you are to be successful. But in my experience, most people aren’t particularly good at building relationships with new people. It’s always: ‘Help me!… Can I pick your brain?’
“Instead, my advice is to create a value-driven relationship. When you reach out to someone, imagine you are one of the hundreds of people doing the same thing.
“Who could introduce you instead? How can you differentiate yourself? Approach with zero expectation. Provide value upfront with no expectation of immediate return.
“I invite new contacts to appear on my podcast Creating Synergy, giving them a platform to share their story and business lessons.
“From there, we build a relationship. It’s a long-term game but pays off because an element of trust is built in. It sounds like common sense, but so few people actually do it.
“If you want to be successful, start building relationships with the right people today. It’s the best investment you can make.”
Amanda Williams, Director, Yellowpanda
“In PR land, we often work with startups to help raise initial awareness as it is an effective way to boost credibility and trust in the early stages of establishing a brand.
“It can also be a more cost-effective way to reach the masses, especially when up against established competitor brands with deep pockets.
“For example, when Sir Richard Branson started Virgin Airlines, he mastered the art of landing front page coverage through clever publicity stunts. He did this knowing full well that he would not be able to compete or outspend the marketing budget of British Airlines – and it paid off!
“While some business strategists advise against engaging in PR until brands are established, in my experience, I have witnessed scores of startups who have secured more than 6-figures worth of media coverage in the first few months – in turn reaching millions of potential customers.
“If you’re a disruptor or behind an innovative new product or service, you’re primed for this opportunity.”
Simran Kaur, Founder & CEO, Pounce Marketing
“Competition in business, across all sectors, has never been fiercer. No longer is it simply enough to match the competition. Now any new business owner is expected to not only create and deliver a superior product or service but also outthink, outsmart and outwit their competition at every turn whilst still retaining a strong ROI and being cost-effective.
Talk about mission impossible!
But there is a way you can make your life easier. It’s called the ‘THREE C’s and is basically a compass to help you navigate these tricky waters.
“So, when crafting your making campaigns, ask yourself the following questions:
- Cutting Edge: Is it creative enough? Does it cut through the clutter and resonate with my audience? Does it give us an edge over our competitors and are we promoting our services in ways that they aren’t?
- Consistency of messaging: Is the messaging consistent with other touchpoints a potential customer might interact with? Does it encapsulate our tone and is the offer or CTA clear and concise?
- Cost Effective: Given the budget, do you see a sustainable ROI? Ensuring you’re not throwing money into the wind is critical.”
Lisandro Paz and Benn Martiniello, Co-founders, Elite Eleven
“Show Your Customers Who They Want To See – Themselves!
In a digital age of never-ending content, often highly curated and out of reach of everyday people, customers call for refreshingly real content that is attainable vs aspirational. As a new approach to marketing to show customers that not only do we see them for who they are but celebrate our Elite Eleven community, we are putting them at the forefront of our marketing and advertising campaigns. This fresh approach for the brand launched with the release of our newest collection and called on the Elite Eleven community to submit themselves for inclusion in the campaign! What resulted was a day of connection with our community who had the opportunity to model for a day, and for us as a brand to truly and accurately represent the most important part of any brand – the customers.”