ometimes, despite all your best efforts, your marketing campaign can fall flat. Your leads can dry up, your conversion rates can plummet, and you can be left wondering whether any of your hard work is having any impact on your audience at all. It happens to the best of us. But the key to pushing forwards is to firstly take stock of what you have achieved so far with the marketing mix you have been working with, then use this data to inform your future plans.
Here, we’ve listed 5 practical ways to boost any flailing marketing strategy – even if time is tight and you’re working to a strict budget.
1. Think about WHY clients should choose you.
Decision-makers like yourself often get so caught up in the day-to-day running of their business that they forget why they are doing what they do. So, before you even think about adjusting your marketing plan, ask yourself the following question: why should companies choose you as their financial services provider?
The answer will likely depend on your biggest unique selling proposition (USP). Are you cheaper than your competitors? Do you offer a service that’s more personalised and more involved than what’s on offer from your rivals? Do you have processes and systems in place that ensure your output is more efficient?
Write down a list of all the things that make your financial company different – TRULY different – and make sure that they are at the heart of your brand’s message, regardless of how you eventually choose to market and advertise your business.
You may find it helpful at this stage to ask a professional copywriter to develop your company mission statement and a short, snappy strap line that perfectly describes your services in just a few words. You can then refer back to this copy when you’re writing web pages, blogs, brochures and other important marketing assets.
2. Cleanse your contact list.
If you’ve been in business for some time, you are likely to have built up a considerable database of names, phone numbers and email addresses from contacts, prospects and converted customers. You’re probably staying in touch with these people by email newsletters, and you may even be marketing to them with different tips and offers. But while a long list may look impressive at first glance, chances are that at least some of this data is out of date. That’s why it’s so important to give your data file a spring clean from time to time.
First of all, check your email marketing statistics. Have your open and click rates been steadily declining? Have a high volume of your contacts been hitting the ‘unsubscribe’ button recently? Worse still, have many of them been marking your emails as ‘spam’? If you’re noticing a pattern here ,it’s time to scrub out the contacts who are not engaging with your content. Your list may end up being significantly smaller by the end of this exercise, but at least you’ll know that your output will be more impactful.
Bear in mind that you will need to ensure that your data collection and sharing processes need to follow the General Data ProtectionRegulations (GDPR), which came into force earlier in the year. Cleaning your email list is a great way to make sure you have incorporated the new regulations into your company.
3. Revisit your company image.
Maybe your logo is looking a little tired. Perhaps your branding isn’t as striking or as distinctive as it could be. One sure-fire way to breathe new life into your marketing campaign is to revamp your graphics to give your image an instant facelift. Think about the kind of clients you want to attract, then tailor your branding so it will appeal to them.
If you’re happy with your overall brand image but just want to bring it up to date, there’s no need to invest in a complete overhaul. A good graphic designer will be able to update and refresh your current assets, then put together a clear set of brand guidelines that outline how they should be used in all your marketing materials to ensure a consistently professional look across your entire campaign.
4. Create a 12-month plan.
Putting together a year-long marketing plan may take a little time, but by the end of the process you will have a blueprint for your medium-term campaign that can be followed by you and your staff.
Start by developing an editorial calendar. This will contain information on all the events throughout the next year that are going to be relevant to your business. It should include everything from public holidays and national days of interest through to high-profile industry exhibitions, seminars, scheduled staff charity events and team-building days, and even tax deadlines. Then, use this plan to decide when and where to place your marketing resources every quarter. Think about all the different ways you could reach out to your customers and prospects – email newsletters, blogs, infographics, ebooks and the like – and create a timeline for when each of these assets needs to be created, based on when the information needs to be published.
5. Pick your battles.
If you’re not necessarily seeing the results you want from your marketing strategy, it can be tempting to throw money at as many different channels as possible in a bid to generate some kind of ROI. But in many ways, this is the worst thing you could possibly do.
Our advice is to choose your battles carefully. Using all the data available to you, consider which aspects of your marketing mix are still worth investing in, and which elements can comfortably be left by the wayside.
As an example, if you have found over the years that you have generated plenty of leads from Twitter and LinkedIn, but your Facebook account is almost redundant in this respect, switch up your strategy and focus your resources entirely on the platforms that are generating interest in your company. Social media marketing is no longer all about shouting as loud as you can above as much noise as possible; it’s about getting your message out to the right people on the right platform, and seeing a positive return from your efforts.
If you have followed all the above advice and still feel as though your strategy is stuck in a rut, it could be time to contact Prosper. We specialise in design, branding and marketing solutions for accountants, financial consultants and other companies within the fiscal sector, and we’re experts in reviving lacklustre marketing campaigns!