Striking the balance between having a problem solving product or solution, and earning a steady cash flow, leaves many businesses in a tedious limbo which often throws them overboard. The solution to the problem: effective marketing.
When properly executed, marketing gives you a chance to explain what your product is, how it works, and how it will benefit the consumer. But how dodo you know if what you’re doing is, in fact, “effective marketing” for your Western Sydney business?
Here are our top three tips:
1. Keep It Focused
Start by drilling down and deciding what it is that you want from your marketing. Ask questions such as:
How many people do you want your message to reach in and in “x” amount of time?
How many people do you think will respond to your call of action?
What is your budget?
For example, if you have a product suitable for a very particular group of users, advertising in local media may not be as effective as advertising in a magazine that focusses on your target market, or paying for an advertisement on a website which is in a related industry. A general household product, however, may go viral over social media shares. Your accountant will be able to help you to work out a budget that will help support your business without wasting business capital.
2. Keep It Personal
“Dear Homeowner” does little to inspire action from your prospective customers. While it may not be realistic for you to have emails and letters go out with the actual names of potential leads, narrow it down as much as possible (i.e. instead of “Dear Homeowner” have “Dear Resident of Russell Drive”). Of course, if you do have access to a list of appropriate recipients, use their names in both the address and the greeting.
3. Keep It Clear
As witty or insightful as you may think you are, your customers will fail to understand your message if you are not clear about what your product is, how it will help, and what they can do to learn more or make a purchase. Provide clear direction about what you want your customer to do, otherwise you will have sunk a lot of business capital into something that will provide little to no reward. If you want them to call or email you, say so. If you want them to visit your website, give them the details. If you want them to learn more about your product or service, provide them with a link to a specific page on your website.
As a final bonus tip, it is important that SMEs stay on top of their financial situation. In Western Sydney, particularly in Bankstown, Casula, Edmondson Park, Liverpool and Ingleburn, ATP Tax accountants offer a variety of services including business set up and planning, accounting and bookkeeping, and business taxation.
For more information about how our ATP Tax accountants and bookkeepers can help support your Western Sydney business, including determining your marketing budget, contact us today at 1300 829 484.