Marketing Mélange

Business operators sometimes ask me how much I think is reasonable for them to spend on their marketing. There are a variety of methods that are used to calculate this:-

• *As a percentage of forecasted sales
• *As a percentage of current income
• *As a percentage of your overall business budget
• *As a nominated amount per number of new customers you want to attract

To me it’s not that cut and dried. Your investment in marketing depends on what you want to achieve, i.e. your specific marketing objectives. That’s why we are often encouraged to establish realistic objectives. The more ambitious your sales goals are, the more ambitious your marketing investment and associated efforts may need to be in order to reach those goals.

My advice to small business operators is to work out how much new business you want to bring in, given what your business can handle. Then engage the assistance of a Certified Practising Marketer to set up a marketing plan and budget that is specifically designed to meet those goals.

Apart from a promotional budget, you may need to upgrade your technology or other systems in order to provide a foundation to realise those goals, or it may be that you need to develop your human resource strategy to support the implementation of that plan. In any case, the question is not “how much should I spend on marketing?” The question is, “what are my realistic marketing goals, and what would it take to reach them (and maintain them…)?”

Wondering if or how our marketing services could help your business?

Come and talk to Felicity Fedele at the Marketing Mélange Open Day on 19 April and you can enjoy free Italian coffee, cannoli and a 45-minute consultation!

Be among only 8 lucky businesses to enjoy this treat while learning more about a wholistic approach to your marketing, and how our service range may apply to your situation. Consultations are by appointment only, so book early!

Marketing Mélange Open Day

When: Thursday 19 April 2012

Times*: from 9.00am to 6.00pm by appointment

Location: Mosman Professional Centre, Level 1 Bridgepoint Shopping Centre, 3 Brady Street, Mosman NSW 2088

*Book your 45-minute appointment by calling 02 9960 0122 today!

If you keep delivering your goods and services the same way year in and year out, you may want to re-think your business approach… This video explains how much things have changed and why your business needs to adapt to stay ahead. It’s not always easy to know how your business needs to adapt, and that’s when a Marketer comes in handy. So, will your business move with the times?

One of the 12 P’s that I talk about is “Profile”, that is, the Profile of your customers. Many businesses define their customers as people who are interested in their goods and services, or use another basic description.

In Marketing, it is not enough to know so little about your customers.

You need to be able to define those people who are interested in your goods and services in great detail. If your customers are consumers from the general public, you need to be able to identify their demographic, geographic, psychographic and behavioural attributes in depth. If they are business clients, you need to know their organisational type, size and purchasing approach as well as all the other relevant characteristics that make them a suitable customer of your business.

To get the best result out of your marketing, you then need to apply that profile to your entire marketing strategy. You will need to choose tactics, communication channels and messages that suit this market. Focus your attention on finding and reaching potential customers that specifically fit that profile.

If you take the time to think through and apply this, your marketing will never be the same again…

This year has been a time of testing the waters, building the Marketing Mélange brand, teaching and learning, meeting a wide range of business people, working with new clients and getting to know them better.

What has stood out for me this year is that marketing processes and concepts apply not only to goods and services, but to life in general. Strategies relating to product, positioning, distribution and promotion, for example, need to be considered just as much in personal communication with a neighbour as it does when dealing with mass audiences. What you say (product), how you pitch it (positioning), the method of delivery (distribution), how you express it and how often you do so (promotion), all influence the likelihood of that message being received and welcomed in the way you intended.

My greatest learning opportunities arise when dealing with business owners and managers with different personalities, different understandings of marketing and different circumstances in their business and life. My job is not just to come up with a great marketing strategy for their business, but to come up with a great marketing strategy for me to engage them in the great marketing strategy for their business. Marketing the Marketing! Isn’t that something we need to do every time we communicate with someone? )

I take this opportunity to wish you all a happy Christmas, a refreshing holiday break and most of all a courageous and prosperous New Year.

Felicity Fedele
Wholistic Marketer and Trainer

‎”Often, your sales approach matters just as much as what you’re selling. The most successful entrepreneurs create a connection with the customer by bringing their own personal touch to the sales process.” Can you relate to the message in this article by Lambeth Hockwald?

How many of you lower your prices in business to remain competitive? This is no doubt a difficult subject for many but is the answer clear cut? In this video, Tom McKaskill talks about the role of Price in your Marketing mix. Do you agree with his recommendation?

The scope of Marketing in your business goes much further than advertising and promotion. Part of its role is to anticipate your target market’s needs. What does that mean? It means being in touch not only with what your customers want now, but what they are likely to want in future, and accommodating that to some degree. Marketers are continually looking for ways to solve the latest consumer ‘problem’, or creating a ‘problem’ that must be solved. What are the problems of your customers today? What are they likely to be tomorrow? Next year? In 10 years? Is that a deceptively simple question? Warren Barnes talks about this further in his article.

http://ezinearticles.com/?Top-5-Tips-For-Anticipating-Your-Customers-Needs&id=4166504

Creative director and experienced marketer Jason Anello shares why social media communication has created a need to unite marketing and customer service business units. Anello suggests the traditional model that keeps the two groups separate is outdated and needs to change, especially given how customer engagement continues to increase as new technology becomes available.

For many businesses, Marketing slips off the radar when most resources are dedicated to producing and delivering the product. Serving customers and routine maintenance inevitably tend to take the highest priority. But if Marketing keeps being pushed aside, you run the risk of neglecting the foundation and strategy that is needed to propel the business through the tough times and to set it up for a strong future. Marketing is not the side-dish that your business can do without. Marketing is an essential ingredient in almost every course of your business meal. When Marketing comes off the menu long enough, it gradually results in business malnourishment—which takes a long time to reverse.  So, make Marketing urgent. Your business will thank you for it in the long run.