If you’re a business owner who’s looking to grow your business this year, have a look at your marketing strategy to make sure it’s aligned with business objectives. In my opinion your marketing strategy can be an important tool in achieving those business objectives, and it can do a lot more than just sell products or services.
Marketing strategies aligned with growth
Take for example one our clients, a specialist recruitment agency operating in the UK and Europe, the Middle East and Caribbean. Two years ago the senior leadership team embarked on a strategy to grow the business by going on a recruitment drive of their own. More recruitment consultants equates to more business, and the company wanted to expand their recruitment desks to offer more specialist services and recruitment expertise. However, this was only achievable if they could attract high calibre experienced recruiters from other agencies.
With its HQ outside of London and unable to compete with the bigger players on basic salary and commission, they were struggling to get the talent they needed. Having had a meeting about business objectives and plans, we went back to the company’s marketing strategy to see how it could support their growth plans. Alongside activities aimed at driving new business and engaging with candidates, we looked out what we could do to support the company’s employer brand and attract new recruits to their team.
With a combination of content marketing and social media marketing, and by putting in place processes for employee advocacy and referrals, the company now has prospects queuing up to join their team. High calibre recruiters have been attracted to the business because of the way it has marketed its culture, benefits and company vision, differentiating itself from other recruitment agencies.
Growth plans are on target with the company featuring in The Recruiter Magazine’s 2019 FAST 50 2019 having reported strong growth in the last 12 months, even in the current challenging economic climate.
Non-product marketing and growth strategies
Aligning your marketing with recruitment objectives is one way to make it a more strategic function, but that’s not the only way companies are using marketing for non-product marketing activities.
Marketing can also be used to promote a company’s ideology and values to build its credibility with consumers, investors and other stakeholders. It can be used to boost brand awareness ready for a company to launch in a new market, even before customers have any idea of the products or services offered. And it can also be used to build authority and trust in the individuals within the business, such as by marketing senior business leaders as the ‘go to’ experts on their subject matter.
Marketing also has an important role to play in customer retention and that can often be overlooked in the scramble to reach new customers. If your marketing activities are focused on new customer acquisition, remember that it costs five times as much to acquire a new customer than retain an existing one. Existing customers are also more likely to try new products and spend more so it’s well worth aligning your marketing strategy with your customer retention strategy if you want to increase sales.
Whatever your growth strategies your marketing should be supporting them. That’s why when we work with a new client we want to understand what the business objectives and plans are, not just what products or services they need to market.
By getting the big picture we can develop a much more holistic marketing strategy that supports the whole business and those all important growth strategies.
Get in touch if anything in this article piques your interest and you’d like to chat about marketing…