Marketing Strategy

You’ve made a great product. You have the best service. Now go out and tell the world!

Easier said than done I know.
That’s where we come in.

We understand that there is no one-size-fits-all marketing plan for business. That’s one of the reasons why we believe so much in testing. You can’t always know what your customers are thinking. You need to be able to adapt to new opportunities and explore markets with different needs and wants then you’re used to.

Most people greatly underestimate the need for marketing and how much traffic they need to drive to their business. If you need to get 10 sales a day, then you need to show it to 1000 people a day. Let’s do a little math to show an example.

Example:

You own a mid-range clothing line, and you do most of your sales offline to your store. Online conversion rates for shopping for clothes come in at about 2.4%. If they have to come into your store, you’re looking at around 0.9% of web traffic that will visit your store.

That means you’ll have to get 111 people to visit your website to get a foot in the door. If you need to do 10 sales a day to break-even, then you’re looking at 1100+ web visitors a day. That’s ok though because online you’re able to reach new markets and customers you never thought possible.

Finding the Chink in the Armour

If you take a look at most business’s marketing, you’re going to find it’s the exact same as all of their competitors. All real estate agents buy fancy lawn signs and bus benches. Car dealerships buy billboards and radio spots. Manufacturers advertise with trade show booths and magazine ads.

Doesn’t this seem strange? Why would you do the exact same thing as your competitors? You’re competing for the same people with the same materials. You’re playing a zero-sum game before you even get started!

The better strategy would be to go after the “chink” in your industry’s armour. They exist in every industry. Take a look at how those same industries could reinvent how they get customers.

  • Real Estate Agents: If you’re a real estate agent in Barrie or Sudbury, you probably think prices are pretty cheap compared to Toronto. Go tell Toronto investors the great value they’re missing. Create a direct response campaign about how you could “buy two duplex’s for the price of a single-family home in Toronto”. You could expand your client base overnight. 
  • Car Dealership: Run a direct response campaign on Facebook for people with cars that are 7 years or older. Offer free safety assessments and invite them to your showroom. Get them in the door and connected to your brand. If they don’t buy a car from you that day, the purchase won’t be that far off.
  • Manufacturers: Each week we talk to manufacturers that are getting beat by China, India, Brazil, and others. Many of these manufacturers can compete on price and crush everyone on quality. But nobody knows, because they only reach a small number of people whom they believe to be their target market. Expand your reach! Make sure people are thinking about your business before they ever go searching on Alibaba.