Marketing is an important part of any business. It drives new customer acquisition and customer retention, ensuring your business performs to its potential. But many business owners see marketing as a necessary evil. Without strategic planning, research and control marketing can be expensive and ineffective. Below are five strategies for ensuring your marketing is as cost effective as possible.

1. Plan

Develop a 6 or 12 month plan for your marketing. This vital step is often overlooked by business owners but a Marketing Plan allows you to take control of your marketing spend, making it visible and logical and enabling you to take advantage of bulk discounts available in areas such as printing, advertising and distribution.

2. Use Your Customers

Your current customers are your best (and one of the cheapest) marketing resources. These are the people who already know who you are, what you do, and with any luck they like it! Research marketing methods to keep your customers coming back and next time they come, to bring their friends. Word of Mouth Marketing, Loyalty Programs and Customer Management Systems are valuable and effective marketing tools.

3. Use Your News

Won a local business competition? Involved in an interesting project? Got a new and exciting product? If you have something interesting to say about your business then don’t be shy – say it! Send press releases to your local newpapers and trade magazines, write a sign on your window or do a mailout to your customers. And there you go - free publicity!

4. Use Your Processes

How often do you communicate with your customers? Do you send them monthly statements? Weekly orders? Why not take this opportunity to provide them with a meaningful marketing message? You could make a product recommendation based on their previous purchases or include a Specials flyer. Not only will this prompt your customers to come back, but they will know that you understand their needs and are equipped to fulfill them.

5. Know How Your Customers Found You

When you get a new business enquiry, don’t be afraid of asking how your customers found out about your business. That way you can reinvest your marketing dollars where they are working and minimise wastage.

If you use your creativity, experience and strategic planning skills to develop a truly effective marketing plan, and then implement and modify it as you continue learning, you will see marketing become one of the most important aspects of your business. It will drive your business and help it reach its full potential – try it, it really works!