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Why no Preparation and Planning?

14.03.10It never ceases to amaze us how little regard SMEs seem to pay to preparation and planning, when considering their marketing.

Our market research found that 100% of the businesses we spoke to in Hampshire felt their marketing could be more effective and weren’t happy with its performance.

When we asked why they thought it wasn’t performing as well as it should, nearly 80% said they felt it was because they didn’t have enough time and money to invest in it.

You might feel your marketing is not delivering the results you need for the same reason.

We have another theory.

One of the most interesting trends to come out from our research was how little (if any) time and money, is invested by small businesses, into proper marketing planning, before they start investing their time and money in specific marketing activities.

With businesses now beginning to see those precious ‘green shoots’ of recovery, after a difficult few years, it is vital that every penny is used effectively and that should be no different when marketing your business.

What better way to make those important marketing decisions, than by basing them on facts and figures, instead of assumptions and guesses.

Big businesses and corporates spend millions of £s each year on the marketing planning process. The question one must ask, is why? The obvious conclusion, because it works.

The next question that springs to mind is this; if big businesses and corporations value the results delivered from their investment in marketing planning, why do small businesses think they won’t?

As yet, we haven’t got an answer for this. But what we can confidently say is:

Small businesses that invest time and money on the marketing planning process – SWOT analysis, competitor analysis, customer surveys, market research etc. – will get a direct return on their investment through more effective marketing activities and massive savings on ineffective marketing campaigns.

As the old adage goes, ‘Fail to plan and plan to fail’. The same applies to marketing.

 

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Why the recession could be the best thing to happen to your business?

Life is what you make it, or so the saying goes. This principle can be applied to business as well.There is no getting away from the difficulties many businesses have experienced as a result of the recent recession. Some businesses haven’t made it and others have been transformed radically just to stay afloat. Whilst the economy is now growing again (albeit tentatively), many are anticipating a challenging 2010 and with all the doom and gloom surrounding the forthcoming budget, it is easy to overlook the positives. What are they I hear you say?  Well, that the recession could be the best thing that ever happened to your business.

There are a multitude of reasons why, but three of the best are as follows:

  1. We got lazy: A common response to questions about marketing, from many businesses prior to the downturn, was ‘we don’t do any marketing, we are already getting more work than we can handle.’ Whilst this is an excellent position to be in, for many it is no longer the case. This attitude often translated into inefficiencies elsewhere in the business, with resources being used wastefully, a lack of focus on profit margins, no strategy or planning culture and no urgency or hunger to improve and be better. Post-recession this attitude doesn’t fly. The downturn has forced many businesses to reassess their attitude and undertake rigorous analysis of the organisational practices and systems. Out have gone the unnecessary and inessential operations and in has come a new vigour and focus around efficiency, innovation, improvement and growth. The net result in this shift in attitude is a leaner, more efficient and innovative business, built on more stable foundations, going forward into the future. Surely a good thing?
  2. New opportunities: Referred to in a recent Independent article on SMEs, a Shell LiveWIRE survey found that 28% of business owners say the recession has actually ‘inspired them to refocus their business vision’ with 25% believing it has ‘challenged them to identify new areas of growth’. Touching on the innovation mentioned above, for many businesses the recession has prompted them to look carefully at the opportunities available to their organisation and ensure they exploit them fully. The much maligned SWOT analysis is the perfect tool to undertake this and we’d advise ever organisation to implement one at least annually. Innovation through necessity will result in some unexpected and profitable ventures for businesses; it will build long lasting relationships and unusual, yet profitable, strategic alliances and will inspire the creation of new and improved products and services for our clients and customers. This can’t be bad.
  3. Business evolution: The premise of ‘survival of the fittest’, proposed in Darwin’s Theory of Evolution, is also applicable to businesses. We can’t avoid change; it is going on constantly around us. No matter how established a business is, it is always exposed to change. Sometimes this results in extinction i.e. Lehman Brothers and Woolworths and other times, to world domination i.e. Facebook, Google and Apple to name three. What is inescapable is that if you do not evolve with the times, you stand a very good chance of being replaced by a new and improved alternative. The recent downturn has removed many businesses from the marketplace, some of them may have been clients and suppliers, but others might have been competitors. Congratulations to you remaining businesses, you are the future and you can benefit from the growth that follows a downturn.

So if you don’t forget the valuable lessons learnt during this period, stay focused on your customers and satisfying their demands, don’t slip back into lazy business practices, ensure you embrace all the opportunities out there and put the fear of change aside, you may just find the recession was the best thing to happen to your business.

 

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What is in your marketing budget?

Some businesses complain they don’t have a marketing budget, whilst others religiously put aside an amount of money to allocate towards marketing activities throughout the year.  At TLC Business, we feel that the most efficient way to budget is to make sure every marketing activity in your plan is included to meet a specific objective. It makes for a more efficient and cost-effective investment of your money, rather than putting aside a pot of money that is continually dipped into until it is empty.
We have put together 3 example marketing mixes, for those with no budget, through to those with ambitions to grow quickly.

No budget:
If you have no money for marketing do not despair, fortunately for you, we now have the internet, which affords huge marketing opportunities for those that are willing to invest their time:

  1. SEO: if you have a website, but no budget for paying a professional SEO company to get your site on the front pages of Google, why not consider DIY SEO. You might be surprised at what a little research, keyword analysis tools and some link building will achieve. Oh, and don’t forget to update your content regularly either.
  2. Social Media & blogging: Twitter, LinkedIn, Facebook, online forums etc. There is no end to the different platforms you can utilise to engage with potential customers, enhance your credibility and grow your brand recognition. You’ve got no excuses either. It is free and all it requires is an investment of your time.
  3. Networking: whilst online networking is expanding rapidly, face-to-face networking is still a vital tool for SMEs to get out there and meet potential customers, partners and suppliers. There are an increasing number of free events but choose them wisely, you often get what you pay for.

Tight budget:
If you’ve set aside a marketing budget but have to be extremely careful as to how you spend it (like most of us) then the internet is a blessing to you too. As well as the 3 tips above, consider:

  1.  Email marketing: this is an incredibly cost-effective medium for communicating with large numbers of people. The bit we like and are constantly raving about is that it is the marketing medium that just keeps giving. Not only does it communicate your message to your target audience but it then tells you who was listening and what they are interested in, incredibly useful when managing a tight budget.
  2. Adwords: we feel that advertising is often an ineffective medium for many SMEs. However, adwords is a big exception. Managed correctly, it is an incredibly effective means of communicating with your target audience. Only pay for those people you want to visit your landing page and again, it is entirely measurable, so there is no need for elaborate guess work when deciding if an advert is working.
  3. Telemarketing: love it or hate it, for many businesses this should be a vital tool in your marketing mix. If you can’t stand the constant rejection, get the professionals in. For those B2B businesses out there telemarketing is often a lead generation winner.

Ambitious budget:
For those businesses that really want to make their mark and grow this year, getting the biggest bang for your buck is still important. Including the different media above in your marketing mix is still important, however, to increase impact consider:

  1. Direct Mail: the age of mass marketing has come to an end. With all the customer information available to businesses now, you can target your ideal customers more efficiently. Having built a list of interested prospects through email marketing and adwords, you still can’t beat an engaging and quirky direct mail piece to get them hooked.
  2. Events: they can be hard work and often costly but organising an event for customers, prospects and partners can be a very effective way of generating new business, PR and awareness. To reduce the cost and workload and expand your reach, consider a joint event with a complimentary business partner. Two heads are always better than one.
  3. Advertising: we would caution any SME about taking out adverts in magazines and newspapers without having considered it thoroughly. If you are going to advertise make sure your advert has a clear call to action, a means of measuring its effectiveness (like a quotable promo code) and is not a one-off but instead run as part of a series of multiple issues. If done correctly, advertising is still an incredibly effective means of generating new business. But we stress the words ‘if done correctly’. If not, it is an incredibly efficient way of wasting money quickly!

We hope this has given you some food for thought. There are many more activities you can include in your marketing mix. This is just a taster. So be sure to consider the plethora of activities and opportunities available to your business when putting together your next budget.

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June’s Top Marketing Tips

Top marketing tips:

  1. Conduct a client survey: – Some businesses are reluctant to undertake a client survey in case they don’t like what they find out. For those that are keen to understand their customers better, it might just be the best thing you do for your business. The benefits are plentiful. 1. If clients aren’t happy with some aspect of your service or product, better to find out early and have an opportunity to rectify it. 2. Showing your customers that you care will build loyalty and foster a stronger relationship. 3. Are you struggling for ideas as to how you can improve your service or develop that new wonder product? You customers have the answer. All you need to do is ask the right question.
  1. Data capture tool: – If you are like us, you’ll hate spending time typing in or copying and pasting the contact information of various prospects when building a database. Inspired to find an alternative solution, we stumbled across a piece of free software called Contact Capture. Now all you need to do is highlight all the information you want to gather, press a button and hey presto it is organised into a workable format, ready for exporting into your CRM or database software of choice. It is particularly good when consolidating different excel spreadsheets! You can find a link to this software on tlcbusiness.wpengine.com/cool-stuff.
  2. Consolidate your social media: – for those of you out there that are already hardened tweeters and social networkers you’ll probably know this already. But for those of you that are irritated about having to waste time updating Facebook, twitter and LinkedIn accounts, why not use Ping.FM to update your social media status on these three platforms and more. It is free, easy and saves you time. What more can you want? Enjoy.

 

Hope you find our top 3 marketing tips useful. Do let us know what you think and any areas you’d like more info on.

 

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Free Marketing & Sales Seminar

“The best way to predict the future is to create it.” Peter Drucker.
Successful businesses don’t happen by accident, they are actively created. The same applies to marketing and sales. Businesses that excel in this area utilise marketing and sales models to maximise their chances of success.

Learn how to create the business you want, through improving your marketing’s effectiveness, generating more leads and converting more enquires. If you are an ambitious organisation keen to break through that £1,000,000 turnover barrier then this seminar is not to be missed.

Learn:
• Why so much of your marketing is ineffective
• Where to spend your money most effectively
• The 5 ways that you can grow your business
• NLP tips to improve your sales conversion rates.

TLC Business is hosting this event alongside Kevin Stansfield, from Action Coach Southampton. Kevin is one of the UKs top business coaches, as well being an experienced NLP and Emotional Capital practitioner.

Price: Free
Date: Thursday 29th July
Time: 10am – 12:30pm
Location: Langdowns DFK, Fleming Court, Leigh Road,
Eastleigh, Hampshire, SO50 9PD
Format: Seminar followed by buffet lunch and networking.

Places are limited and going fast so book your ticket today.

To register call 01962 600147, email Rob at rob@tlc-business.co.uk or visit TLC Business’ events page.

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Old Spice is back!

Remember Old Spice? We didn’t even realise it was still around. Their new viral campaign is making waves on the web and has brought the brand back firmly into the public conscience. Here’s why…

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Paul the psychic Octopus and Marketing for SMEs

https://www.youtube.com/watch?v=Rv3ZeoHICQ0
We’re sure you’ve all heard of the remarkable tale of Paul the clairvoyant octopus, who correctly predicted the winner in all 8 of the matches he was prompted to, at this year’s World Cup.

Whilst his feat is certainly unlikely and many seem convinced of his psychic abilities, the cynic in us here, feels fairly confident that it was merely coincidence.

But what has psychic Paul the octopus got to do with marketing, I hear you ask?

All too often, SMEs leave their marketing success to chance. They might as well let psychic Paul loose with their marketing budget and see what happens. Would you feel confident in putting your marketing fate into the ‘tentacles’ of a clairvoyant Octopus, regardless of his past success at predicting the future?

If the answer is yes, then good luck to you. If it works, you’ll have a great press release on your hands! However, for those of us that would like a more stable foundation on which to make our marketing decisions, there is no substitute for proper marketing planning and preparation.

We keep shouting about it and that is because we believe that investing time, energy and money (sometimes) in this area will reap significant rewards down the marketing road. SMEs are notoriously keen to shun planning and preparation, in favour of pursuing ad hoc business interests. This attitude is a major factor in why many businesses are finding their marketing does not deliver the return on investment they expect and their business needs.

So what can you do about it?

3 crucial areas that you need to know about before you embark on any marketing campaign are:

  1.  What is your market? Not what you think it is, but actually research who your service / products appeal to? You may be surprised at some of the market segments that are interested in what you do.
  2. What are your customers / potential customers’ needs? Why are they buying / would they buy your products or services? What needs are you satisfying?
  3. Who are your competitors and what are they doing? Again, not just those you are immediately aware of. You need to research a bit further, consider your indirect competitors too.

Only once you have this information as minimum, should you consider formulating a marketing plan.

It has been proven that there is a direct link between the long-run profitability of a business and its ability to get a clear understanding of its customers’ needs. It makes sense really, if you know what someone wants and why they want it, it should be fairly straightforward to offer a service or product that meets that need.

The crucial next step is giving them a reason to get it from you. Here’s where knowing what your competitors are up to becomes vital. Armed with this information, you are in an ideal situation to position your company’s offering in a unique and competitive way that creates a compelling case for why your customers / prospects should use you.

As the old adage goes, fail to plan and plan to fail. This can certainly apply to marketing. A bit of planning and preparation will significantly push the odds of marketing success in your favour, giving you facts and figures on which to make your marketing decisions rather than the whim of a psychic octopus called Paul in a German aquarium.

Free Marketing MOT for Hampshire Businesses
As part of our quest to get SMEs planning their marketing more, TLC Business allocate a limited number of free marketing MOTs to businesses based in Hampshire that want to improve their marketing’s performance. Many businesses have benefitted from one already so don’t delay and book your MOT today. Visit our marketing MOT page for more information.

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September special marketing offer

15% of marketing campaigns this September
September is a crucial month for businesses. Summer is over, the kids are back at school, people have returned from their holidays feeling refreshed and re-focused (we hope!) and everyone starts to focus on that push through to Christmas.

In order to help you make the most of the next 4 months, we are offering businesses a 15% discount on any campaigns booked in September.

TLC Business’ outsourced marketing team are ready to help manage any aspect of your marketing, leaving you and your team free to focus on what you do best in your business.

We can helps with all aspects of your marketing, to generate new business and help grow your organisation, including:

  • USP creation
  • Telemarketing and lead generation
  • Email marketing
  • Design of leaflets, brochures and direct mails.
  • Search engine optimisation.
  • Social media management & article and press release creation and submission.
  • Market research.
  • PR and event management.

Whatever your marketing requirment, our passionate team of experienced marketing experts can achieve the results you require to drive your business forward so this Christmas is a great one!

To help get you started and to show we are confident in our abilities to get results, we are offering a special offer this September of 15% any campaign booked this September*.

So if you want more effective marketing, don’t delay and email Anna at anna@tlc-business.co.uk or call us on 01962 600 150 and claim your 15% discount by quoting ‘Sept15’.

*Offer valid until September 30th.

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Kindle takes on iPad

Style over substance?
Despite all the hype, is the iPad the perfect example of style over substance? Designed to be portable and accessed on the go, anywhere, the iPad has one significant flaw, you can’t read it in sunlight. Amazon has seized on this weakness in its latest series of adverts to promote its considerably cheaper Kindle, to try and capture valuable market share in the e-reader market. What do you think about the advert?

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