Hindsight on 2010

by Lisa Petty

As we take a final look at 2010 before embracing the new year, it's important to look beyond the spreadsheets. Sure, you can't argue with numbers as you determine whether you made your financial goals, but numbers don't tell you the whole story. Whether or not you made your goals, they don't tell you why. And the why, of course, often involves your marketing plan. Was your marketing plan successful, or is there room for improvement?

Got one? Need one?  Use these tips to critique your marketing strategy, or to create one if you don't have a formal plan. As my Dad says, if you don't know where you're going, any road will take you there.

Who are your best customers?

The key to the success of any marketing strategy is to really understand your audience. Look over last year's sales and really define your ideal customer. Then market to them in the new year. If body-builders are your core audience, maybe you should divert money away from supporting your community's annual baby show this year. It's an obvious example, but you get my point.

Clarify your message

Now that you know who your customers are, what do they want to hear? Do they want more science, or less? Convenience or quality? Are you clearly speaking to them, or have you watered down your message in hopes of attracting business from people who aren't your best customer? It's perfectly acceptable to cater to a particular group. Embrace your inner specialist!

Don't reinvent the wheel

Look over last year's campaigns to determine what worked, and do more of that. A balanced strategy is important (print advertising, radio, sponsorships, community involvement), but not at the expense of the tried and true. Allocate your marketing budget according to what works.

As we take a final look at 2010 before embracing the new year, it's important to look beyond the spreadsheets. Sure, you can't argue with numbers as you determine whether you made your financial goals, but numbers don't tell you the whole story. Whether or not you made your goals, they don't tell you why. And the why, of course, often involves your marketing plan. Was your marketing plan successful, or is there room for improvement?

Build a web

There's no excuse any more for not having a professional-looking website: gorgeous, fully functioning sites you can update yourself are available for a fraction of the price they used to cost. (If you still need one, contact me. I know a guy.) Sites are considered an essential part of your customer service, offering ready access to information like location, phone numbers and hours of business. They also offer you a virtual water cooler, allowing you to share information and updates with your customer community. If you use your site for sales, look at the numbers: if you aren't converting at least one per cent of your visitors into buyers, it's time to make changes.

Social Media

Talk about cheap and easy. If you're not on Facebook and Twitter, you're not reaching your customers where they are. According to Neilson numbers for 2009, worldwide consumers spent more than five and a half hours on sites like Facebook and Twitter in December 2009, representing an 82 per cent increase from the previous year. Numbers from November, 2010 show worldwide users now keep in touch with 52 friends through social media, compared with 38.8 in 2009. Use the relationships you have to create new ones. (And become a fan of Lisa Live Radio on Facebook while you're at it! See how easy it is?)

The PR Tortoise

Have you been as creative as you can be to get your business name in the paper, on the radio and on local TV?  So many news stories create drama – remember the Swine Flu scare from last year? Be the first to offer solutions or alternatives to local media when news strikes. You'll quickly become a reliable source for information. And remember PR is a slow and steady race.