Aug 25, 2020
What makes ‘good’ marketing?
Google “how to market your business” and you’ll get nearly 5 billion search results.
Some of those results will give good, practical advice.
But a lot won’t.
Moreover, a lot of the advice out there won’t be targeted towards the financial sector, which requires specialist marketing that is built on the solid foundation of customer trust.
Then, how do you decide what advice to listen to and what to discount? How do you find the perfect marketing strategy for you?
It’s not the easiest question to answer – marketing can be complicated and nuanced, and with plenty of new medias cropping up every year the landscape gets even harder to navigate.
It’s difficult to tell you exactly what advice you should and shouldn’t listen to, but it does help to create a clear framework that helps to define what exactly ‘good marketing’ is:
#1 Good marketing understands the power of building an audience
Every brand out there has multiple social accounts these days, and a lot of effort goes into creating “viral content”.
But smart financial services companies recognise that the most effective marketing is the kind where you can have regular, constant exposure to the people most likely to do business with you.
Which means you need to build an audience, at the very least on email, as this allows you to regularly communicate with the right people, until the time when they’re ready to buy.
Understanding yourself, your audience, and – crucially – how they view you, is so fundamental to understanding your marketing.
#2 Good marketing knows that conversion is crucial
Building an audience is important, but if you haven’t got a proven way to convert that audience into appointments and sales, it’s all a bit futile.
Good marketing strategy focuses on understanding what will make your audience buy and then creating specific tactics that can be used to make that happen.
#3 Good marketing recognises the importance of ongoing revenue
There are far too many ‘quick-fix’ marketing strategies out there that focus on getting one transaction.
These short-term strategies fail to take into account the rich stream of revenue that can come when one customer is dealt with properly.
Good marketers construct specific systems to bring in referral business as well as ensuring that repeat business is achieved.
This marketing strategy considers the long-game, as well as the brand reputation of the business and how it is engaging with customers.
If you’re sitting there thinking, “this all makes sense, but I don’t know how to do any of that”, then maybe it’s time that we talked.
Give our team a call on 0161 672 7822 or email robin@financestream.co to have a marketing chat today.
