How to develop a great marketing strategy for a new business
Here at Bounce Design we’re in the business of developing awesome brand identities for our clients that reflect how they see their business and who they want to target. But that’s just the start of your business’s marketing endeavours.
We find that many clients are excited to get their logo, business cards, brochures and website up and running that they then forget to set aside time and budget to actually promote their business. We asked Jenene Acland, director of strategic marketing company Chevalley Ford for some tips on how to market your business and have a stream of hot leads coming in before you even open your doors.
“So you’ve finally branded your business. Congratulations!
It’s a big hurdle and a super-important process for your business to go through. Good branding represents the way you want the world to see your business, provides your team with motivation and direction and speaks to the market you want to target. And now your business image is a true reflection of how you want your company and products to be perceived, it’s time to take this beautiful new brand to town and get it out there earning its keep. The next step is all about strategy. You want to get the best bang for your buck from your brand. And without a strategy, you’ll always be on the back foot and reacting to what business life throws at you, instead of driving your business forward the way you want.
There are three aspects to a great marketing plan:
- Create a strategy to push your new brand through your existing business and out to your target market. Never under-estimate the power of a plan. There needs to be method in what can sometimes feel like the madness of getting your brand out into the market. Creating a strategy gives your business a clear vision of where it’s going, who it is speaking to and most importantly, it allows you to budget your marketing spend. What’s more, without a strategic plan, your business will come across as disorganised and untrustworthy.
- Discover your story. Your business story matters. Most customers won’t purchase from you because of what you have, even if it is the best product or service in the world. They purchase from you because they connect with your story; they buy because of the ‘Why’. Many of us women know the story of Spanx, the multi-million dollar, slimming undergarments. Their founder Sara Blakely has regularly told the story of when she chopped the feet of her panty hose in an attempt to make her rear-end look better in some fitted white pants. It was an issue many of us understood and it resonated with women. Connecting with your customers is what will push them to purchase from you and bring them back time and time again. Why do you do what you do or create what you create? Most successful business leaders are not driven purely by financial motivation, there is always a bigger reason that creates your point of difference. You have to find your story and ensure that same philosophy runs through everything you do.
- Bring everything to life. So, you have your strategy and your story, now it’s time to make this bird sing. This is when you’ll need to engage with professionals to have your strategy and your story rolled out with functional design, engaging social media content, newsworthy PR stories and direct marketing and advertising that actually reaches your target market. You’ll want to build a team of like-minded suppliers around you that can help take your brand to the new level and make your business goals a reality. Marketing strategically is all about building relationships, systematic coordination, and plenty of elbow grease. It’s a time-consuming, specialised skill that isn’t as easy as professionals make it look. Many people believe that marketing is something they can take on themselves and maybe you could do it yourself, but it’s going to be a time-consuming way forward and is it really the best use of your time? Your new business will typically need your undivided attention. Weigh up whether you’d be better to spend that time in the business and engage a marketing professional instead, someone with the expertise to take your strategy, goals and brand, and efficiently and effectively leverage them to your best advantage.
Jenene Acland is the director of strategic marketing company Chevalley Ford. A business operations and marketing guru, Jenene’s company specialises in marketing, operations, business management and analysis. You can contact Chevalley Ford on 0402 035 946.