What do you think of when you hear the word “marketing”? Do you think branding? Website? Social media?
It’s easy to focus on surface-level outputs – the stuff your customers see – but there’s much more to marketing than adverts and emails.
These things might not be as glamorous as the creative side of marketing, but they are equally (if not more) important. They are the things that help ensure you get a return on investment.
But when’s the best time to review all these things? How do you know when your business will benefit from a marketing consultation?
Evaluating your marketing strategy and activity is beneficial at any time, but there are five situations where it can be particularly valuable.
#1 When you’re new to the market
Launching a new business is exciting, and it can be tempting to jump right into marketing. Why wouldn’t you want to shout about your new product or service?
But sometimes patience pays off.
A marketing consultation will help you figure out how to position yourself for the best results.
Who are your competitors? How do you compare? What do they do well, and where are the gaps you could take advantage of?
Is there an appetite for what you’re offering? Are you positioning it in the right way? What are the best routes to market?
Sometimes the approach you think you want to take isn’t the approach that will make your business a success. YouTube was originally meant to be a dating site. Play-Doh was originally a wallpaper cleaner. They wouldn’t be the businesses they are now if they hadn’t rethought their offering.
You might think you have a fantastic product or service, but let’s make sure you’re marketing it to the right people in the right way.
#2 When you’re not generating the right leads
If you’re constantly pumping time, energy or money into marketing activities but not getting the leads or conversions you’d hoped for, it’s time to review your marketing.
Let’s find out what the problem is.
Do you get loads of enquiries but very few conversions? Or are your conversion rates high but enquiry rates low?
Just because something gets a lot of engagement doesn’t mean it’s converting into sales. A low volume of high-quality leads might be better than a high volume of low-quality leads.
Analysing the results from all your marketing activity allows you to see what works, what doesn’t work, and what needs improving. Which of your marketing activities deliver the best return?
You’ve probably heard of the 80/20 principle – roughly 80% of outcomes come from 20% of causes. We can apply this to marketing too. A high percentage of your good enquiries are likely coming from a small number of activities. Let’s find out what they are so you can focus on the right things.
#3 When you’re ready to grow
Growing a business requires a plan. There’s no point in increasing your employee headcount if you haven’t got a strategy to increase your customer count and revenue.
Equally, if you experience fast sales growth but don’t have the infrastructure to support it, you could find yourself in trouble.
A marketing consultation will help you plan sustainable growth. What increase in enquiries is needed to achieve your sales goals, and how will we generate those additional enquiries?
What will your new marketing spend be, and how will this impact your profit margins?
What does your typical customer journey look like? If we increase marketing activity now, how long will it be until you see a positive effect on your bottom line?
If it takes an average of three months to get a prospect from enquiry to buyer, you need to account for that in your plan. We’ll help you figure out how to grow your business sensibly and sustainably.
#4 When you want to diversify or launch a new product
As with business growth, business diversification requires planning. How will your existing customers react to the change? Will they be interested in your new product, or are you targeting a new market?
If you’re targeting a new market, how will you ensure your marketing messages don’t become confusing? How can you ensure your new marketing campaigns don’t negatively impact the success of existing campaigns? Can we utilise existing platforms and audiences, or do we need to invest in new ones?
A marketing consultation will help you diversify or launch a new product successfully. We’ll look at how we can build on your current strategy without damaging the relationships you’ve built with existing customers.
#5 When you’re rebranding
Do you remember when Opal Fruits became Starburst? Or the reaction when Facebook Inc became Meta Platforms? Did you notice when Kentucky Fried Chicken rebranded as KFC?
Businesses rebrand all the time, and they do it for different reasons.
Sometimes it’s to accommodate a merger or acquisition. Sometimes it’s to shed an outdated image or bad reputation. Sometimes the branding and company name no longer align with what the business offers. Sometimes it’s to appeal to a new audience. Sometimes it’s just time for a new look and feel.
But whatever the reason for the change, rebranding involves more than just getting a fancy new logo.
You need to make sure the reaction to the rebrand is positive. The last thing you want is to lose loyal customers or make your brand less relevant to your intended market.
A marketing consultant will help you plan a successful rebrand so you can influence customers’ perceptions in the right way. And if your rebrand involves a name change, we’ll help you select one that works for your business and implement a strategy for communicating the change.
Could you benefit from a marketing consultation?
There’s no wrong time for a marketing consultation. Whether you’re new to the market, looking to improve results, or making changes to your business, you could benefit from a marketing review.
At Opportunity Marketing, we offer marketing consultations to suit your needs. Maybe all you need is a Marketing Pit Stop – a two-hour consultation to sense-check your approach. Or perhaps you require a full marketing strategy to support your long-term business plan. Whatever you need, we’ll ensure you make the right decisions when it comes to your marketing.
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