It wasn’t that long ago that you could choose to spend your marketing dollars on TV, radio, print, outdoor and if you got really exotic, maybe some cinema. Ah, the good old days.
As the above diagram shows, marketing’s gotten pretty complicated (bear in mind, this map only shows digital marketing channels – yikes!).
That’s a lot of places you could invest/lose your money.
A good marketing plan however, will not only ensure you don’t lose your money, but better still, it will maximise the return you achieve on every dollar spent.
However complicated the landscape looks, the normal rules apply; reach the right audience with the right message at the right time.
Here’s a snapshot of how we’ve gone about achieving marketing success on behalf of our clients:
- Begin with a thorough understanding of the business plan – challenges, opportunities, goals, brand asset evaluation, market intelligence etc.
- Research – get an understanding of where the product or service lands within the hearts and minds of current and potential customers.
- Understand the competitive landscape. What are the competitors doing? How are they doing and saying it? Where are they doing it and saying it?
- Develop a plan to yield an unfair share of voice – in other words, make the most amount of noise for the least amount of spend.
- Start with quick wins – the lowest hanging fruit. Let the quick wins start to fund the more difficult to reach fruit higher up the tree.
- Determine what works and what doesn’t. Refine the plan and then keep refining the plan.
This research and data-led method of marketing planning for our client Pacific Dunes has resulted in a 65% reduction in marketing investment coupled with a 104% increase in sales. Ultimately it has this residential development on track to sell out 6 months ahead of target.
READY AND WAITING
Can we help you with marketing? Let’s talk.