Marketing
punchy performance By Christina Richardson
possible to make educated decisions about the amount of budget and resource that should be allocated to each. For example, for most new brands the majority of growth will come from attracting new consumers. Therefore a larger percentage of budget and resource needs to focus here, and a smaller amount will be allocated to engaging in a continuous conversation with existing consumers to encourage repurchase.
Plan ahead
Armed with your objectives and a clear view of how much time and money should be dedicated to each, you’re in a place to define a plan for the year ahead – both in terms of what activities you choose and when you choose to do them.
Every marketing objective has a whole suite of marketing activities that could be executed to deliver against it: To drive trial you could try promotions, sampling or events; for encouraging repurchase you could look at loyalty, referral, email marketing, social media, the list goes on – but by knowing where you want to end up and who you want to reach, it is possible to filter through those options to find the most effective ones for what you want to achieve versus your budget.
Then you can think about the best time to execute your marketing activities: It is more than likely that conversations with existing consumers will happen all year around – often on highly cost-efficient channels like social media and email marketing. But when it comes to reaching all those new people, no business has a big enough budget to run marketing campaigns all year around. So you pick your times – stripping out the times when your target consumer will not be listening (holidays, working) and searching for those times when they might be more susceptible to hearing from you. This is why all the holiday adverts are on in January, and fashion brands advertise as the weather changes.
There are multiple schools of thought in this area, which are debated endlessly by brands with million pound budgets, but as a rough principle you want to be able to focus marketing ‘pushes’ at a few key times of the year relevant to your consumer with a ‘fewer, bigger, better’ mindset. This allows resource and effort to be put behind a central idea, which is executed over multiple channels, and generates a bigger impact as a result.
A recent example of this is our A Suit For Success campaign created with award-winning tailoring company A Suit That Fits. Historically, the business focused on drip-feeding PR throughout the year, but by creating a central campaign idea around this charity collaboration we created a multi- channel campaign that achieved nearly a year’s worth of brand awareness in a few weeks.
25 entrepreneurcountry
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