The most important decision you’ll make this year may be to master marketing. You can’t have a really successful business without having effective strategic marketing.

Here are 7 key marketing components you could be focusing on in 2022:

1. Improve Your Website

All new prospects will check out your website before considering buying your products and doing business with you. Your website should be the hub of your online presence.

Does it take calls to action, conversion rates, product packaging and videos sufficiently into account? Did your web designer keep mentioning conversion rates when developing the site?

Sadly, too many websites under-perform.

2. Increase Your Prices

It’s a myth that customers make their decisions based solely on price. They take lots of other factors into account: features and benefits; presentation; reviews; location; delivery; brand; and their buying experience, amongst others.

Did you know that more than half of small businesses under-price and try too hard to compete on price? This often has a serious impact on profitability.

Have you taken advantage of your products’ price elasticity? Could you increase your prices by 10%?

Are you taking pricing psychology into account?

Price as a key ‘P’ in the Marketing Mix and is well worth focusing on. If you back up your pricing with excellent marketing, you may be able to charge premium prices.

3. Sell More to Existing Customers

Many of us are not good at selling more to our existing customers.

You’ve probably heard that acquiring a new customer can cost five times more than retaining an existing customer, and you may know that increasing customer retention by 5% can raise profits by well over 25%.

Some research suggests it is more than 30 times easier to sell to existing customers.

What can you do to up-sell more to your current customers?

4. Double Your Website Traffic

Many businesses only use 2 or 3 channels to drive traffic to their website. If you increase this to 5 to 6 channels, you can significantly increase your website traffic.

Are you using video marketing, SEO, Google Ads, email marketing, direct mail? Are you using the right social media platforms?

5. Double Your Conversion Rates

Did you know that many website conversion rates are a very low 1-2%? And, it’s not hard to double your conversion rates to 3-5%.

You’ve already spent marketing budget to drive traffic to your website. So, it makes sense to convert as many of those website visitors into customers. It costs little and significantly improves the return from your marketing.

You should see improving conversion rates as a profit multiplier. And, don’t forget you can also increase the conversion rates from your sales process, your Google Ads and other areas of your marketing.

6. Have a Marketing Strategy and Plan

Some small businesses don’t give enough time to marketing and keep pushing it down their to-do list. They spend less than one hour per month on marketing strategy. Their approach to marketing is ad hoc and they may be wasting their budget on unconnected marketing activities.

All small businesses should have a carefully considered marketing strategy and plan, based on research, analytics and creativity. I create short, practical, graphic marketing plans with clear, costed, prioritised activities.

7. Build a Repeatable Marketing System

Can you turn your marketing into a well-oiled, repeatable marketing system? This should have a rhythm, strong channels, clear processes, some automation, and perhaps six key components.

Marketing metrics should be built into your system so that it can evolve as you see what’s working well.

Those successful businesses that have a strategy, repeatable system, marketing metrics and a specified budget, have a ‘marketing investment mindset’ rather than a ‘cost mindset’.

Would you like to book a Free Website & Marketing Review over Zoom?

Many businesses still face considerable challenges and need to deal with challenging threats so the views here need to be taken within the context of your business’s specific circumstances. This blog has been written by Christopher Lamotte, small business marketing consultant at Real Marketing Specialists.

Many thanks and photo credits to Merakist Jyo for his great photo from Unsplash.

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