Effective Marketing Strategies

April 17, 2024

In April, our Round Tables discussed, “Effective Marketing Strategies.”  Several Round Table members are marketing specialists, who cautioned fellow business leaders against the impulse to splurge on costly social media advertisements without expert guidance and effective follow-up. They emphasized the importance of fostering connections, networking, and forging strategic partnerships.

Here’s a sample of some of the insights and recommendations exchanged during our Round Table sessions. Visit our website for further details on upcoming Round Tables in your area!

For successful marketing, companies must:

  1. Have a clear message.
  2. Know their target audience.
  3. Know your customer’s pain points.
  4. Speak their language. if you are not speaking their language, you are not going to catch their eye.  There is so much distraction.

Build Relationships
Small businesses must focus on building relationships, networking, and developing strategic partners.  Even if small businesses are on social media, one must remember that there is a person behind the connection.  Similarly, we don’t go into a networking event and shout your message.  Listening to your customer’s needs is critical.

Understand who your customers are and then build a marketing strategy around that.

Conduct a Google Review Campaign
One business leader from Rochester did a Google Review Campaign with their clients.  They asked satisfied customers to complete a Google review and picked up 21 new 5-star reviews. This has helped his business grow.

Be Cautious of Digital Ads
One marketing specialist from our Oxford Round Table advised businesses to develop a strategic plan before dumping money with digital ads.  Get advice from somebody who knows what they are doing and develop a follow-up plan.  She has seen businesses burn through money because they think they can throw out some ads and people are going to be able to sift through all the noise and find their ad.

Strategy is Key
One marketing professional in our Rochester Round Table had a client in the electric vehicle space. The client wanted to run ads to target car dealerships and could have run hundreds of thousands of dollars in Google ads, trying to get dealers to respond to their electric vehicle impact study.  Instead, our Round Table member had conversations with Automotive News, a leading news source about the global automotive industry.  He worked with his client and developed content for Automotive News.  He also arranged to have his client sponsor the North America Auto Dealers Dinner, in which the client’s president and CEO were seated with the presidents of Hyundai, Kia, Toyota, General Motors, Ford, and other key executives.  They had their opportunity, and now they’re finalizing two agreements.

Hire a Fractional Chief Marketing Officer (CMO)
Engaging a fractional CMO offers several benefits for small businesses.  Fractional CMOs provide high-level expertise at a fraction of the cost of hiring a full-time executive. This allows businesses to access top-tier strategic marketing guidance.  Fractional CMOs also provide strategic direction and leadership in developing and executing marketing plans.

Sell to Existing Customers
A marketing professional at CBRT adopts a straightforward approach to showcase their portfolio: after completing a project, they craft a case study and feature it on their website. This case study is optimized for search engines (SEO) and promoted on LinkedIn. This strategy has proven effective in informing customers about the breadth of services offered, thereby enabling them to upsell to existing clients.

Upcoming Events
Please join us for our Kalamazoo Leadership Breakfast on Friday, May 17 from 8:00 – 9:30 am at the Kalamazoo Country Club.  Brian Long, an Economist from Grand Valley State University is our keynote speaker.

Please mark your calendar for our Detroit Leadership Breakfast with Ian Watts, accomplished entrepreneur, author, teacher, mindset and business coach.  Our event is on Friday, June 21 from 8:00 – 9:30 am at the Bloomfield Open Hunt.