Surviving in the marketing place
“Industries of all kinds are becoming more competitive, therefore it’s imperative that you employ strong marketing activities to stand out from your competition and ensure that your key potential customers are aware of you and your business," says Vic Billings, director of marketing at Worcester Bosch.
Boilers are something some people may only buy once in their lifetime. So, when the time comes, how can they find you? With this in mind, below are my five broad top tips to help market your business more effectively.”
1 Know your customers
None of us have limitless advertising budgets, so it is vital to your company’s success that you market your business in the most efficient, cost-effective way possible. Data-driven decisions are key – know your area, the type of customers you want to attract and how they like to consume media. Find out which marketing tactics work – and which don’t – and keep testing and learning with different approaches, recording the results of all campaigns and working out your return on investment.
2 Get online
Whether it’s buying a car, a holiday, or a boiler – it is now essential to ensure that you can be found quickly online. By 2021, roughly 93 per cent of UK internet users are expected to engage in online shopping (Statista). Even if your business has always been built on recommendation and word of mouth, finding local trades online is now the norm.
3 Set Key Performance Indicators
Do you know what your KPIs for your company are? Work out your cost per acquisition of a customer and look at ways to optimise this. Basics like recording where a customer heard about your company can give you the insight you need to create and tailor local marketing campaigns. I recommend determining your top three company KPIs and demonstrating how your marketing contributes to these.
4 Be a part of your community
Get involved and be visible. You could donate some time to a local school or community project, or sponsor a local charity event – people want to know that they’re dealing with a company that cares. In the current climate, corporate social responsibility (CSR) has unprecedented value in the eyes of consumers. So long as your CSR activities are genuine and make a real change, you will receive new levels of respect and loyalty from prospective and current customers.
5 Be social
Whether that’s digitally or in person. Networking is key! Attending local business networking events or showcasing your company on Facebook, Instagram and LinkedIn are great ways to demonstrate your company values and make yourself known within the area you work. As society moves online, and consumers become savvier, marketing has never been so important.
Find out more
Want more help for your business? Government advice is also available at gov.uk/business-support-helpline
This article first appeared in the Nov/Dec 2019 issue of P&H Engineering, the magazine for members of the CIPHE. Find out how to join here.