In last week’s instalment of our jargon busting adventure, we highlighted how the SMART approach is essential for any business who wants to make progress by identifying realistic goals and clear direction for the future. Before that we covered the analysis, the research, the important factors that you need to consider to run an effective marketing campaign.
So what comes next?
What we have given you is the base structure that you need to understand where you are as a business before you decide where it is that you want to go.
And deciding where you want to go is about understanding what is available to you, so this week we are providing you with a list of all of the things that you could be achieving with Effective Marketing.
- understanding your business better
- market research
- competitor analysis
- customer analysis
- recognising market trends
- identifying market demands
- entering new markets
- new product development
- developing an effective sales and marketing plan
- reducing marketing costs
- developing a trusted brand
- creating brand awareness
- implementing effective marketing initiatives
- measuring the return on your marketing investments
- driving traffic to your website
- building a professional network
- establishing your business as an industry leader
- positioning yourself as an expert
- generating interest
- deciding who you want to sell to
- documenting your sales terms
- establishing relationships
- identifying buying processes
- recognising buying cycles
- developing processes for winning and retaining customers
- streamlining your sales processes
- generating leads
- setting appointments
- making sales
- reducing cost of sales
- conducting customer satisfaction
- improving customer satisfaction
- increasing customer retention
- increasing order value
- reducing cost of customer acquisition
- cross selling
- up selling
- increasing customer value
- increasing market share
- achieving a certain profitability
- achieving a desired income
- taking charge of your business
- increasing the value of your business
We think this is a pretty monster list that we have built over the last five years with customers at our marketing trainings.
You will agree that all of the things on this list are pretty desirable, and we would argue more achievable than ever as marketing has become incredibly accessible and measurable. It still frazzles our minds when all of this is available that people still ask us if marketing works. It clearly works if you can achieve all of these great things and will work much better for you if you consider what you could be achieving more broadly.
We understand that some jargon has slipped into this list, and don’t worry we will be helping you with that over the coming weeks.
If we have missed anything, or you disagree with anything on this list we would love to hear from you in the comments.
Otherwise, be sure to come back next week when we will giving you a definition of market trends.