In the current business climate many companies are cutting their marketing budgets.  Gordon Jones, chartered marketer and author of Marketing on a Shoestring, reminds us of some common sense principles that should help ensure robust ROIs.

Let’s start by defining just what marketing is all about.  It is finding out who your customers are and what they want.

Once you know this you have to make sure that you fulfil these needs and make your product or service more appealing than those provided by your competitors.

At the same time you have to set a pricing structure that customers will find attractive but will give you a sensible profit level. You then have to ensure that you promote your offering to the defined target market using a variety of methods.
 
Knowledge about your customers is worth a fortune, so keep close to them and regularly ask them for their comments and views and how you can improve your products and service. 

Part of this process is ensuring that your offering is available when customers want to do business. Today people of all ages are ordering online because it is more convenient.  If you have staff, ensure that they are customer focussed and stress to them that no customers means no business and therefore no job.
 
In terms of types of customers you need to define who these are by segmenting your market. 

Get shouting!

The old saying “the more you tell the more you sell” is still very relevant today.  So, publicise your business and products through the editorial columns of both trade and consumer magazines and newspapers but make sure that your story will appeal to the readers and if you have a web address include it with your news story.  

Or, take a stall at a local leisure show.  You never know who is buying. It could be the buyer from a major retailer who then expresses interest in you supplying his or her company.

With over 62% of the UK population having access to the internet, having your own web site enables you to reach customers 24x7.  If visitors to your site can order online using secure payment methods then this again can increase your overall sales. You can build your own simple website or seek out a specialist. 

Collect email addresses from customers and send them, with their permission, an electronic newsletter update say every quarter. You can also use this to promote special offers to customers say pre Christmas.

A motorcycle dealer advised his customer base about new regulations concerning helmets and gained £20,000 worth of business – just for emailing.
 
But all your marketing efforts will be wasted if you don’t bother to find out if it has worked.

Set up a process for recording your marketing effectiveness. 

That way you can replicate successful marketing practices and more importantly make sure you don’t make the same mistakes twice!
 
Gordon Jones is presenting at a Chartered Institute of Marketing event tonight, 23 October, at the Hilton Hotel, Douglas.  For more information or to book your place visit www.cim.co.uk/events.

Successful Marketing on a Shoestring is available on line at www.successfulmarketing.co.uk

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