Vacation season is coming to an end, and we hope business leaders have been getting some much-deserved rest after a hectic year. Soon, we’ll enter a busy fall, and owners and operators of small-to-medium-sized companies will be asking how to go to market in the current economy. Here are four higher-level, strategic marketing thoughts to keep in mind:
- There’s No Silver Bullet The world has never been more connected. As a result, there’s no shortage of people and companies offering the “perfect” solution for leads, SEO (cough, outbound link farming), social media growth, and more. My advice: pause and ask whether the activity suits your audience, situation, and budget. Most companies benefit from a full portfolio of activities. And as a general rule of thumb, if it sounds too good to be true, it probably is.
- Carefully Consider Budget Priorities The key is to spend in the right areas. Across-the-board increases or cuts rarely work (see next point). Something more surgical that focuses on high-priority targets, media, and distribution channels is usually best. A thoughtful planning process can go a long way to stretch dollars.
- Marketing is Key to Long-Term Growth Along with prioritizing your budget properly, it’s important to not be too reactive to economic swings. A McKinsey & Company article explains how “companies that double down on growth [during times of economic uncertainty] will not only rebound faster but will also emerge stronger as a result.” Develop a growth mindset when the market is in the red.
- Dedicate Time and Energy to Customers During the ‘age of the customer,’ where empowered buyers demand a new level of customer obsession, both your sales force and marketing efforts are crucial. Sales bring the product or service to the customer, while marketing brings the customer to the product or service. The difficult part is ensuring that efforts complement one another.
Checklist for a Busy Fall – Some Tactical Considerations
Dynamic Content: There’s a need for thoughtful and updated content to enhance websites, social media platforms, and customer communications. Content is key to educating those you come into contact with and improving search engine performance.
Smart Digital Footprint: Websites were the center of online marketing for a long time. Then came social media. Now, growing businesses need to round out their digital footprint. This means email communications and newsletters that drive people to your site; Google and other reviews that shape how prospects view you; and even digital ads through search engines and social media platforms. If a prospect spends 10 minutes studying your online footprint, do they walk away with an accurate and favorable appreciation?
Email Still Works: Often overlooked, email remains a cost-effective way to stay in front of business and other customers, referral sources, and so many others. It is the workhorse of business communication. The key is providing relevant information that is well-presented and doesn’t unnecessarily contribute to the noise. Make sure you also have a process for regularly adding and updating contacts.
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