What's love got to do with it?
Is now the right time to start a business, take risks, change direction,
rebrand, or launch something new?
Uncertainty has become a certainty and the new normal is expecting the
unexpected.
While many SMEs are struggling in an unexpected and unpredictable
climate, nobody could have predicted or planned for, many businesses are
equivalently thriving.
At the same time, budding entrepreneurs are emerging, undeterred through the
global pandemic and recognizing that adversity creates opportunities, a
multitude of which have manifested in response to COVID-19.
Intrinsic motivation is a powerful driving force in raising capital,
attracting “say-yes” moments, and staying centered on an inspired mission.
Unwavering perseverance prevails despite the uncertainty, helping them boldly
follow plans to launch a business.
It is clear a lot of us share this unshakeable determination, with a
report from the ACCC finding there was a three per cent increase in company and
business registrations this quarter when compared with May, June and July 2021.
Before you give up or put your plans on standby,
there is a powerful word you can apply to your marketing strategy. It is the
secret to marketing any company, attracting ideal customers, dodging the bend
balls, staying ahead of the competition, and earning money no matter what is
going on around you. Just four little letters can transform a business on the
brink of defeat, and blow wind in to the sails of one ready to take off.
That word is LOVE.
Leverage: The capacity to act or influence people, events, or decisions.
How where can you leverage?
Marketing is a form of seduction. It's uncovering your customers' needs,
wants, desires, pain points and voids and solving them. Like several skilled
seducers, the journey begins when you comprehensively understand the desired
outcome and may leverage your marketing to help people to buy your product
or service. The chief aim is to drive customers to your business and have them
purchase, just because a successful marketing strategy is not focused on you or your
product.
Study your competition and find a way to stand out. Where are the gaps
in their offerings and buying process? Uncover a competitive advantage by
taking a look at what they are not doing and how can you deliver a solution to solve
more of your customers' frustrations?
A customer-centric business focuses on the customer first, well before
rolling out any marketing. Leverage
combining customers' desires and the power of communication. As much as it is
important to know your product or service and also the backend of running a
business, without crystal-clear communication and messaging you won't influence
clients to buy.
The very essence of business is attracting customers who convert and
marketing plays a vital role in this. Leverage social channels through
omni-marketing. Don't assume because your competitors are doing two or three
stuff that you can just focus on those. Likewise, if you have an existing
business but never considered social channels, this is the time to leverage new
digital opportunities.
Remember the 'Rule of Seven' in marketing; whenever your customers see you
across seven platforms, they are more likely to remember and buy from you. Build an omni-present brand, leverage the
opportunities available to you, and fall in love with your results.
Optimise: Make the best use of.
Whether you're setting up a new business, or upgrading an existing one,
optimisation is key to success. Examining your processes down to
your customer experience is important. But before you get to optimising processes
with existing customers, remember lead generation is dependent on making the
best utilization of your marketing. Considering the benefits of the 'Rule of Seven',
execution is equally important. Simply setting up a page or creating a profile
isn't making the very best use of every affordance available. Many business owners
make the mistake of thinking they have to spend lots of money on marketing and
advertising to boost revenue, but the truth is they are simply neglecting
voluminous free opportunities by not optimising their social channels.
Think outside the square and optimise every social channel. Be sure to
include the following:
- Google My Business. That one simple hack can drive more traffic to your site than a highly ranked search word!
- Facebook and Instagram Business Pages,Twitter, Pinterest, LinkedIn. These could all seem obvious, however, many businesses set up these pages and fail to take time to grow and optimise their presence.
- Likewise, thinking away from box with WhatsApp, Messenger, and free business directories will help you go that extra mile without having to spend an extra cent. It pays to regularly check where individuals might be looking for you with a simple Search. Frequently, you'll be automatically added to a free business directory, but if your listing isn't optimised, it won't drive traffic and therefore be useless. Opportunities exist to list your business in countless places without having to spend a cent, but a highly optimised profile is going to be shown to greater numbers, helping drive more customers with the door, resulting in higher acquisitions.
Circling to loving your customers and wanting to give them the best
experience requires focus on detail across all platforms. Lack of knowledge
is confusing to your customers, which makes it difficult for them to find, trust and
interact with you. Show them some love with optimisation and consistency!
Versatility: Able to be used for many things.
Now more than ever, versatility is at the forefront of our everyday
lives, and suppleness is not just a valuable trait, but a necessity.
Seek versatility not only in mindset, but in awareness of the people you
serve. The word 'pivoting' is perhaps the most used word running a business circles
right now, but it goes beyond just shifting the business course. It comes down to
being versatile in your thinking to capitalise on new opportunities.
Versatility to understand your customers' new needs, problems, pains,
frustrations, and desires. Delivering alternatives in a versatile and exciting
way.
Your marketing should also adopt a versatile approach and trigger a
response. You may not be a fan of technology or social internet marketing but the
future of your business is determined by your ability to adapt to a changing
market regardless of what line of business, how long you've been operating, or what
your budget.
Embracing a versatile attitude and introducing new marketing mediums
could keep your business relevant, agile and positively front of mind for your
customer. Get comfortable within the discomfort of change and fall in love with the
versatility of modern business!
Earnest: Profoundly serious and sincere intent.
If you intend on running a business, whether it's B2B or B2C, be it a
product or service you must always aim to serve the customer and deliver a high
quality, valuable experience. Be genuine, give equal to what you take, care
about people, and prioritise long term success.
Sincerely adopt a customer-first approach by understanding who they are,
how they feel, what they want. Let your marketing tell the story of how it
feels to do business with you.
Your logo and ethics go hand in hand. Launching a business, retaining
customers, future growth and long-term success is unobtainable in case your goal is
purely to make money. Walk the talk and deliver on your promises. Find
longevity in an earnest and sincere business design and your customer's will
fall go heels!
Do what you love-.
love what you do, who you serve…
and what you stand for.
This story first appeared in issue 30 from the Inside Small Business quarterly magazine
