Price growth edges lower despite reasonable economy
Insight
October 30, 2009
Marketing: Get effective results
In challenging times, it's no surprise that marketing budgets tend to be reduced. However, research suggests that businesses who either maintained or increased their marketing in these times were able to recover more quickly as the environment improved.
Improve your marketing with these five steps.
In challenging times, it’s no surprise that marketing budgets tend to be reduced. However, research suggests that businesses who either maintained or increased their marketing in these times were able to recover more quickly as the environment improved.
The RAPID Model of Marketing, developed by Hunter Leonard of BlueFrog Marketing, is a five-step process that can help businesses improve their marketing.
R is for research.
The most important tip is to survey your customers to find out their needs and wants, and review the market and competitors.
A is for analysis.
Analysing the latest trends in your market can help you find ways to compete better in the current market.
P is for plan.
A strong marketing plan requires you to decide on your positioning in the market – who are you going to target and what’s your offer? A marketing plan also sets clear objectives for the coming 12 months.
I is for implementation.
This stage includes advertising, direct mail and promotions. Tips here are to ensure you use technology such as electronic newsletters and communicate with customers on your database regularly.
D is for detection.
The most underused part of any good marketing plan. BlueFrog recommends you ask customers where they heard about your business and calculate the lifetime value of all key clients.
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