Whether the company is brand spanking new or has been around for 20 years, there’s one thing every single client we work with wants: marketing that drives a strong ROI. For companies that want to grow, experts say you should be delegating 10% of your gross annual revenue towards sales and marketing efforts. But where should you be putting those marketing dollars – and how can you choose tactics that will actually produce results?
Today, we’ve outlined our top FIVE ROI producing tactics to make your sales and marketing plan work BETTER for you. Leverage these tactics as part of your overarching sales and marketing plan, and you’ll start seeing better results, likely immediately.
Develop Your Target Market
The biggest mistake we see brands make is blindly marketing without ever defining who they’re specifically marketing TO. The problem with this strategy is that it makes it incredibly difficult to tailor your messaging, image selection, and outreach efforts so that they engage the right people, and cause them to take action.
Understanding your target market is one of the most important foundations to your overall marketing strategy. That may include 1 or 2 targets, or even up to 10, depending on the factions of your business. If you’re looking for sustainable growth that also drives brand loyalty (as opposed to commoditized selling), this step is essential to your success.
Get Your Digital Presence Updated
Do you know what prospective customers do once they hear about you? Many go right online, and are evaluating whether or not they want to buy from you based on what your digital presence looks like. While you’ll still get new buyers with an outdated website or social channels, you’re actually LOSING more than you’re winning without pretty visuals and engaging content.
Things to keep in mind when evaluating your digital presence:
- Are your visuals engaging? Do they make you (or your target audience) want to click to see more? Do they really resonate with your target market? Remember that in most cases, lifestyle photos (modern pictures that feel real, not like they came from a stock image gallery) will have the biggest impact on how your audience connects with your brand.
- Does your content add value? If you’re just sharing the same exact thing that your competitors are sharing, you’re not actually differentiating yourself in the market.
- Are you posting consistently? While posting a lot of content can certainly be part of your digital strategy, it’s more important to post consistently. If you’re sharing 3 times a week for a few weeks, and then your audience doesn’t hear from you for a month, you’re losing out.
- Do you talk too much about your brand? Your audience doesn’t want to hear about how great you are all the time. They want you to share knowledge and information, make them laugh, keep them informed, and understand how what YOUR brand does can help solve THEIR problems. If your digital presence centralizes only around your brand history, what you’re selling, etc., then you need to take a sharp left turn and re-evaluate what you’re doing online.
Develop a Digital Advertising Strategy
One of the best ways to stay in front of your audience can be with digital ads. Not only are they highly targeted to your chosen demographic, they’re a really inexpensive way to get in front of your target audience. The network, content and graphics you use should be run to specifically engage your target demographic. If you’re not sure what’s working, use the insights tools provided by your business accounts on your chosen social platforms, and use A/B testing to track ad engagement.
The biggest piece of setting up your digital ad strategy in a way that drive ROI is first laying out your goal (do you want people to engage with you on a social channel? Do you want them to give you their email address? Do you want them to see you as an expert in the community) and then choose your content and medium accordingly. For some of our clients that’s a pure social strategy. For some, it’s Google ads. For others, it’s a digital strategy with local publications.
Just remember that you can’t run a successful campaign if you don’t first outline what success looks like for your spend.
Be Intentional About Follow up
For all B2B, and some B2C companies, follow up – or the lack thereof – is where great prospects disappear from your peripheral. Regular interaction with your brand is essential to closing sales. To be effective, you need to set aside a chunk of time every single week (in fact, go block out an hour or two next week to spend on marketing right now) to follow up with the prospects in your system.
Believe it or not, it takes anywhere from 8 to 20 positive interactions with you/your brand before a customer is ready to buy from you. The more one-to-one interaction points you have in your nurturing system, the faster that process works out in your favor.
And by follow up, we’re not referring to sending out a form email every week, or forwarding the last email you sent to them, asking them again to review it. We’re talking about building a relationship through follow up, by providing pieces of value (an article or a download that might be helpful to them) or asking to meet for coffee, just to catch up.
To make this work for you, set up a system that’s easy to use, where you can track your interactions with your prospects and how you’re engaging with them. This could be a company-wide CRM system, or even something as simple as a spreadsheet. Update your next intended point of interaction, keep good notes on your previous points of contact, and make sure you’re making time to do the follow up. The TIME is essential to making this aspect of your sales strategy produce.
We’re happy to answer them! Shoot us an email and one of our marketing consultants will get you a more detailed answer about how to apply these tactics to your specific situation.