Alan Gayle is a sales and marketing consultant specialising in the construction industry and working in the stone sector for more than a decade. In this column he offers advice on how to make an impact in the market. This month Alan goes back to the beginning.
Many thanks to Paul for another great article last month and for standing in at such short notice.
Having started this column with my first article in the September 2010 issue, I think now is an ideal time to have a review and revisit some on the more popular subjects.
The construction world has changed a lot in the past three years and marketing is no exception. So it’s also a good opportunity to get right up to date with the latest ideas and technology.
The three articles on copywriting generated most feedback, while the subject of ‘Upselling & Diversification’ seems to have caused the most confusion. For the next few months I’ll cover the methods we use most often to get our message out there, such as case studies, PR and advertising, as well as the latest online developments affecting email marketing, websites and social media.
I am supposing that, as you’re taking the time to read this, you’re broadly aware of the benefits of marketing (feel free to re-read September and October 2010 issues which are available on the Natural Stone Specialist website – see instructions to search the website below), I’ll start right at the beginning with the all-important Marketing Plan.
Marketing Plans can be detailed and very costly but personally I favour a more simplistic approach based around the six key questions below:
1. Review: Where are we now? This is a brief review of your business’s recent performance. It doesn’t have to be too detailed; you’re current turnover, profit margin and how much you’re spending on marketing is enough to get you started. It will also help you to know who your most profitable customers are.
2. Objectives: Where do we want to be? Set targets for increased turnover and profit margin and identify new target customers. What are your priorities and what can wait until next year?
3. Strategy: How do we get there? Decide what you need to do to reach your Objectives. What’s the most cost-effective way to reach and communicate with your existing and target customers?
4. Budget: What will it cost? I’ve been asked several times how much a company ‘should’ spend on marketing. Of course it depends on your Objectives, timescale and your existing resources. Start out small, measure your results to see what’s working and view your marketing budget as an investment to grow your business. Whatever amount you decide, allocate a budget and stay within it.
5. Implementation: Who does what and when? Implementation is where so many Marketing Plans fall down. Have you heard of The Law of Diminishing Intent? It’s when, over time, good intentions just fade away to nothing. Delegate specific tasks, ensure everyone follows up and review the progress at least once a quarter. Otherwise, it just won’t happen.
6. Evaluation: What’s my Return On Investment (ROI)? ROI is what marketing is all about. There’s no point spending £100,000 on marketing if your ROI is £90,000. That’s a waste of £10,000. How do you determine your ROI? Through testing and measuring your marketing activity. Stop what doesn’t work, continue or increase what does work and compare your position after six months or a year with where you were at the Review stage.
To view any of my previous articles on the Natural Stone Specialist website click on the blue bar that says ‘Search the NSS archives’ on the home page, enter the year and my name (Alan Gayle) and a list of my columns in that year will appear. Click on the one you want to read.
Alternatively, if you’d like to receive our Marketing Plan template and the original Marketing Plan article, email me at info@keystonecm.co.uk and we’ll send them to you.
Next month I’ll be discussing how to make the most of your advertising.
Alan Gayle has worked in sales and marketing roles in the construction industry since 1993. Following a successful career with some of the UK’s leading building product manufacturers, he has worked in the stone sector more than a decade. He now runs keystone Construction Marketing, a marketing agency specialising in the construction industry. The agency works with building contractors, subcontractors and building product suppliers to help them increase their sales and improve their margins.