by fmadmin | May 31, 2023 | Content, Strategy
Do you have a marketing budget and is it currently working for you?
Are you finding it hard to project what you’ll need in the year ahead, or wondering what should sit within your marketing budget? We offer practical steps to forecast your best marketing budget yet.
A new financial year will soon be upon us and many companies, especially those without marketing departments, still fail to budget for marketing.
Too often, business owners regard marketing as an optional cost centre – especially when economic times are tough! However, it is important to realise that marketing is an investment, and not a cost to your business.
“Because the purpose of business is to create a customer, the business enterprise has two – and only two – basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.” – Peter Drucker
Digital marketing makes it easier for B2B companies to be found, remembered, and make an impression. This increases competition but also opportunity – now is the time to ensure your investment is working for you!
Step 1: Identify what should fall under your marketing budget
Let’s go back to basics, don’t forget the marketing P’s. Many companies now treat marketing solely as communications. The activities listed below make up your marketing mix and should be considered when planning your marketing budget.
- Product – what do you sell? Is it services, consulting, or physical goods? A key part of your marketing mix is product improvement.
- Price – how much do you charge? And how is it impacting the way customers see your brand? Improve your competitive position by researching and reviewing your pricing strategy.
- Place – where do you promote your product or service? Does your company attend industry seminars and events? Does the brand have a physical and digital presence?
- Promotion – what strategies do you use to help customers find out about you? Do you invest in business development, a referral strategy, or content and digital marketing?
- People – Who are you targeting and directly and indirectly engaging with? What challenges are you solving for them? Are they high value?
- Process – How will you deliver the product to them? Consider your customer journey and experience. What marketing tools and platforms do you currently use?
- Physical evidence – How are your products and services packaged? Consider your brand identity. Is it consistent and well presented across all platforms? Do you look professional and capable?
Step 2: Analyse your marketing budget and activities from the last financial year
Now that you have identified what should fall within your marketing budget, it’s time to have a good hard look at what you invested in across your business over the last 12 months. Analysing your data, feedback, and results will help you to establish your marketing return on investment (ROI). It is a great way to determine if you should continue investing in existing marketing activities, leave them behind or try something else. We have identified some key questions to think about below:
- Is it a functional requirement for your business to market itself effectively? E.g., Branded uniform, software, signage.
- How successful was each investment in engaging your audience? E.g., New enquiries, email open rates, social likes, comments.
- How successful was each investment in driving new customers to your business? E.g. quotes sent, sales, referrals.
- How successful was each investment in creating a positive customer experience that will likely encourage them to refer others? E.g. Reviews, feedback, customer satisfaction surveys.
- How successful was each investment in providing brand awareness and exposure? E.g. Channel traffic, new subscribers.
Step 3: Reset and establish a new overall marketing budget for FY23/24
Hopefully by now you’ve got an idea of what’s been working and what hasn’t. Maybe you’ve also got some new ideas to add into the mix. That’s great!
Now that you have a thorough understanding of your previous marketing budget and a breakdown of budget categories, it’s time to forecast for the next financial year.
- Consider the marketing P’s.
- Set a ballpark budget for overall marketing spend e.g. % of total business revenue – consider the 5% revenue rule.
- Identify and analyse any marketing opportunities, campaigns or ideas to determine if they support your wider business objectives, forecast costs and prioritise.
- Collaborate with your stakeholders to ensure their requirements are captured.
- Be realistic of how much you have and what you can achieve.
- Ensure reporting and monitoring measures are in place to determine ROI.
Step 4: Get help – implement or outsource?
There’s no singular answer to the age-old question: in-house or outsourced? Other than – it depends! But setting a marketing budget will ensure you most effectively delegate tasks and resources. And will ensure you can answer this question:
Who is responsible for your marketing activities, and are they the most effective resource?
We have seen sales co-ordinators dabble with “fun” projects such as creating flyers or branded content for social media. This may take days to achieve a rough version of something an agency can deliver with professional polish in a matter of hours. Budgeting for professional help to execute projects keeps in-house resources focused on their job at hand.
Remember, marketing is an investment that should support your overall business objectives, and with careful planning and evaluation, you can make the most of your marketing budget.
Focused Marketing would love to support your marketing planning and budgeting for the next financial year. Book us in for a free Coffee Consult to start a conversation. Our structure at Focused Marketing is designed to deliver the benefits of a full-service marketing agency for less than you would pay for an in-house marketing manager.
by fmadmin | May 4, 2023 | Content, Strategy
Create a pet inclusive workplace: Our 5 benefits of having dogs in the office
Did you know … More than two-thirds of Australian households now own a pet, with dogs accounting for 48% of these.
The benefits of owning a pet are well known. But do these benefits transfer across to the workplace?
On my first day at Focused Marketing, I must admit, I was feeling a bit nervous walking up the stairs. But to my surprise – as I opened the front door, I was greeted by not just one, but TWO adorable fur babies! Winnie, our CEO Kerri’s dachshund, and Dusty, our Marketing Director Caitlin’s Cavoodle, were there to welcome me. And let me say, as a proud pet parent of my own Golden Retriever, Barney, it was an instant connection! I felt a huge wave of relief wash over me. It was such a warm and wonderful welcome to the team.
“I started working at Canva seven years ago, I used to bring my dog in every day. It just felt very natural and added a sense of connection.” Chris Low, the head of Vibe (Canva)
Check out some other pet-friendly Australian companies.
Here at Focused Marketing, we encourage our team to bring their furry friends into the office on a regular basis and have seen amazing benefits in doing so. Even our clients enjoy a cuddle!
Here are 5 benefits of having dogs in the office that we have personally experienced as a team.
1. Reduce feelings of stress.
Having your dog by your side can reduce feelings of stress especially when faced with a difficult project or deadline. By playing with and petting your pup, you can increase your levels of oxytocin, a stress-reducing hormone, helping you feel more at ease.
2. Improved overall mental wellbeing.
Another huge perk of bringing your pup to work is the overall positive effects on your mental wellbeing. Not only does having a dog in the office promote a sense of connection and foster more social interaction amongst your team, but it can also lead to a boost in your mood and increase in happiness.
3. Pet-powered performance.
Did you know that having dogs in the office can improve collaboration, productivity, and performance? Regular cuddles, playtime and walks outside encourages you and your team to take much needed breaks throughout the day. This will have a positive effect on your team’s overall performance.
4. Attractive place to work.
Creating a pet-friendly workplace can be a huge selling point when it comes to attracting new talent! By promoting a pet-friendly work culture, you can differentiate your company from others and stand out when it comes to recruitment, internal communication, and employee retention strategies.
5. Paw-sitive work culture.
By boosting morale, inclusivity and encouraging social interaction amongst your team members, having dogs into your office can be a simple but effective way to promote a happier and more positive work environment and culture.
Ultimately, bringing your pet to work with depend on your workplace, OH&S policies and procedures, and culture. And having dogs in the office will require some rules and puppy etiquette. But with all things considered, it is such a wonderful experience to share with your team. So, get those tails wagging!
Bark if you need assistance with your communications strategy and our team will be happy to Make It Happen! Contact us today.
by fmadmin | Apr 3, 2023 | Content, Digital, Strategy
Increase organic traffic to your website through search engine optimisation
Did you know… 68% of online experiences begin with a search engine (BrightEdge)
So, search engine optimisation is important then, right?
The challenge is that most businesses struggle to implement effective SEO strategies. This contributes to their websites ranking low in search results… and sometimes not at all.
Think of your website as an island, metaphorically speaking.
A beautifully designed and constructed virtual destination for your guests to discover. The only problem is they can’t find you on the map! Unless you provide a way for viewers to easily find you and want to travel to your website, there is no point spending time and resources renovating it.
So, how can you improve your organic website traffic through SEO?
Shhhh… below are some insider tips from our Focused Marketing specialists, but first…
“Content is the reason search began in the first place.” – Lee Odden
What is search engine optimisation (SEO) and how does it work?
SEO, or search engine optimisation, is the practice of optimising a website to increase search engine visibility. This in turn, generates more organic traffic and hopefully, dollars for your business. But not all SEO is the same.
Here are three types of search engine optimisation worth knowing about:
1. Technical SEO
This involves optimising the website code and structure to ensure it is easy for search engine crawlers to read and index. Consider your overall website speed, mobile responsiveness, schema markup and meta tags.
2. On-page SEO
This focuses on optimising individual pages on the website, including the content and HTML source code. This includes elements such as optimising headlines, formatting content, and ensuring that keyword usage is appropriate.
3. Off-page SEO
This refers to the activities that occur outside of your website that influence its ranking on search engine results pages. Look at link building, your social media marketing, and other activities that increase the website’s authority and reputation.
So why is SEO Important?
SEO is very important. Here are some key reasons SEO may assist you and your business:
Increased Website Traffic
SEO helps to increase the visibility of a website on search engines like Google, Yahoo, and Bing. Higher visibility leads to more traffic to the website, which can lead to more sales and revenue.
Cost-effective Marketing
Unlike other marketing methods, SEO is cost-effective and offers long-term benefits. Through ongoing search engine optimisation, your website could rank highly on search engines for years to come.
Improved User Experience
SEO also improves the user experience by making the website faster, easier to navigate, and more mobile-friendly. A well-optimised website will also have relevant and high-quality content that engages users.
Competitive Advantage
By optimising your website, you can gain a competitive advantage over your competitors by appearing higher in search engine results pages.
Builds Trust and Credibility
Being on the first page of search results builds trust and credibility with users, making them more likely to engage with your website and its content.
Okay, so you now know what SEO is and why it is important. Here are our tips on what to focus on and how to get started.
Our top 8 tips for Search Engine Optimisation (SEO)
1. Understand your target audience
Understanding your target audience is key as it enables you to identify their specific needs and interests. By tailoring your keywords and content to address these areas, you can ensure your website is relevant and engaging.
2. Identify target keywords
Conduct keyword research to identify keywords and phrases that are relevant to your business and likely to be searched by your target audience. Leverage tools like Google Keywords Planner to assist you.
3. Create meaningful, keyword rich-content
As Lee Odden eloquently stated, “Content is the reason search began in the first place.” Creating relevant and timely content that is engaging and addresses your target audience and keyword search terms is exactly the point. Be sure to include your keywords throughout but don’t overdo it!
4. Optimise every element of your website
Feature your target keywords in meta titles, meta descriptions, image file names and header tags throughout your website. Assign a main keyword phrase for each individual page on your site.
5. Monitor your website performance
Improve your performance including website speed and mobile responsiveness across all devices. Optimise your images and video by compressing them and saving them in the appropriate web-friendly file types.
6. Build high-quality links
Build back-links from high-quality websites that are relevant to your business. Link your site content to relevant external websites that add value to your user e.g. provide additional information on a topic. Don’t forget to include internal links to other pages or blog articles within your own website. Leverage social media.
7. Create a Google Business account
Create, verify, and optimise your Google Business Account to improve your local SEO and capture reviews. This account will also give you access to other handy Google products including Google Trends and Google Adwords.
8. Monitor and track your SEO results
Use tools like Google Analytics to track visitors, click-through rates, and other metrics. This will help you identify key areas for improvement.
Ultimately, SEO is a great way to get more traffic to your website, but it does take some time to start seeing results.
It’s a long-term strategy that’s not going to give you an instant boost but is worth the effort if you want to get high-quality organic traffic.
So, just remember to be patient and put in a little effort, and you’ll start to see those positive results before you know it.
Looking for more information and assistance with your SEO Strategy? Contact us today and our team will be happy to Make It Happen!
by fmadmin | Feb 28, 2023 | Content, Digital, Strategy
Your business name is the first thing people will notice about your brand, and the foundation upon which your brand identity is built, so it’s crucial to choose a name that makes a strong first impression. A great business name can help you:
- stand out from the competition
- build brand recognition
- establish credibility with customers
Your business name should stick in people’s minds and can be easily remembered. It’s vital to invest time in researching potential names before starting your business to avoid the costly and time-consuming process of rebranding in the future. By choosing the right name, you can establish your brand and create lasting customer relationships based on the recognition and association of your business name with your products or services.
A great business name is a game-changer, so don’t settle for a bland or forgettable name!
With over 15 years of experience in helping clients name their businesses, we have compiled a list of top tips to assist you in finding the perfect business name. Consider the following suggestions when searching for a suitable name that will resonate with your target audience and create a lasting impression:
Start with your unique selling proposition
To create a memorable business name, understanding your brand values, personality, vision, target audience, and competitors is key to creating something distinct.
When working with a new client, we conduct a discovery workshop to gain a deep understanding of a brand’s service offering and competitive advantage.
This will help you create a name that stands out.
Read: What happens in a brand discovery workshop?
Find inspiration for your business name
Brainstorm a list of potential business names, draw inspiration from your industry, company history, or personal experiences. Look at the names of your competitors, as well as successful businesses in other industries, for ideas.
Descriptive names are too generic and the LESS it has to do with your category, the better. It will cause fewer trademark hassles, be more distinct, and more memorable.
Focus on what the word reminds you of, over what it means, for example, “Starbucks” is so much better than “The Coffee Club”.
Read: Brand image – why it matters more than you think
Keep it simple and memorable
A simple business name is more memorable than a complex one, so choose a name that is easy to pronounce, spell, and remember. It’ll be easier for customers to find, remember, and share your brand.
Common mistakes include choosing a name that’s too similar to your competitors, using obscure or difficult-to-pronounce words, or choosing a name that’s too long or difficult to remember.
Avoid these mistakes by keeping your name unique, simple, and memorable.
Case study: Rohan Reibelt and Stephen Dionysius approached Focused Marketing to create a brand identity for their new business. We began with an immersive brand discovery workshop to gain a deep understanding of their values and unique selling proposition. In collaboration, we arrived at Venro, a merging of the founders’ first names. The name reflects their close collaboration while resonating with their target audience and conveying a marrying of their innovative, customer-first approach.
Read more about how we created Venro here.
Conduct a trademark search
When shortlisting business names, complete a trademark search to make sure your name is not already in use. A trademark search can help you avoid legal disputes and protect your brand’s intellectual property.
Check for available domain names
Check for available domain names for your business, your domain should match or closely resemble your business name, to make it easier for customers to find you online.
A perfect domain is not as important as one that is easy to find via Google search. Choose a great word with a less than perfect domain over a perfect domain with a less than perfect word.
People don’t type in domains, they search via Google!
When a domain is taken, you can insert words before or after your company name, add an action word, or incorporate geography.
Test and validate your business name
Once you have a shortlist of potential business names, test them with your target audience or focus groups to see how they resonate. Get feedback and suggestions from others, and consider which name best represents your brand and appeals to your target audience.
Plan for future growth and expansion
When choosing your business name, consider your future growth and expansion plans. Will your name still be flexible as your business evolves?
Think about the long-term goals and vision for your business and ensure that the name aligns with this. Does it limit your options for expanding into new products or services?
Choose a name that can grow with your business.
Case study: When ZekiTek first approached Focused Marketing for a brand identity, it was called Smart Chakratec. We worked together with the goal to creating a more-distinct company name, flexible to encompass six product sub-brands. Landing on ZekiTek, the company now has a more-memorable name that will underpin plans for growth.
Read more about naming Zekitek, here.
Finalise and register your business name
Register your chosen name with your state or local government and obtain any necessary licenses or permits. More information on obtaining the right licences and registrations can be found here.
You may also need to register your business name as a trademark or domain name to protect your brand’s identity.
Selecting the perfect name for your new business can be a daunting task, but it’s important not to get too caught up in the process.
Remember that your business name is just the first step in building a successful brand. While it’s crucial to make a good first impression, it’s ultimately up to you to deliver on your promises and exceed customer expectations. So take the time to choose a name that resonates with your vision and values, and then focus your energy on making your business a true success story.
Ready to choose the perfect business name for your brand? Start brainstorming today and see what you come up with!
Have questions or need help choosing a business name? Contact us today and our team will be happy to Make It Happen!
by fmadmin | Jun 3, 2021 | Design, Strategy
It’s difficult to get by or get noticed in business these days without creative marketing. In our everyday lives we’re barraged with marketing, and we encounter a huge number of brands on a daily basis – both consciously and subconsciously. When we’re choosing a specific product or service in a sea of similar offerings, the decision can be overwhelming. Therefore it’s important for brands to communicate their message in a unique and original way. To stand out in an increasingly flooded marketplace, creativity really does count.
A creative brand identity along with creative marketing will leverage your brand and make it stand out among your competitors. Sometimes there’s a fear of being “too” different. However, continuously innovating your marketing is key to capturing and holding your audience’s attention. Besides, who wants to be boring?
Creativity is memorable
If you present the same as all of your competitors, what is going to make the consumer remember you? Creative campaigns create a buzz around your brand. Whether it’s a striking and beautifully executed visual, or a clever and unexpected concept that is a bit cheeky and makes you smile – creative ideas engage the consumer and stick in their mind. Creative strategies distinguish your brand from the rest, creating differentiation and driving brand recognition and recall.
Creativity provokes emotional engagement
By surprising, even delighting the consumer with marketing that stands out, you’re more likely to create an emotional connection. As consumers, we are prone to becoming loyal to a specific brand even when the features of the product or service are equivalent (or sometimes even weaker) than their competition. We form emotional attachments to a brand, driven by associations and affiliations we make with their values. Creative marketing can inspire certain emotions – joy, nostalgia, amusement, excitement – that strengthens our connection with the brand and what it stands for. Playing it safe and relying on formulaic marketing tactics is far less likely to evoke an emotional response and make an impact on your audience.
Creativity makes magic
Creativity generates those magic moments in marketing where the consumer truly resonates with your product or service, and is inspired to take action. It is the magic that boosts performance, recognition and makes your brand memorable. So, how do you make magic? Sometimes it might just be divine inspiration but often, like many things, it’s good old-fashioned time, dedication and hard work. It’s taking the time to invest in the creative process. This often means forming a team for a brainstorm or workshop, in order to piece together seemingly unconnected ideas to form new ones.
Know your brand needs a creative boost but feel like you are lacking inspiration? Give us a call – sometimes it takes a fresh pair of eyes (or four) to spark that creative drive. But with a step outside the box, some imagination, and maybe even a little magic – we’ll make it happen.
by fmadmin | Feb 24, 2021 | Strategy
For our first blog of the year let us think about marketing foundations and talk positioning. Positioning clarifies your message so that prospective customers understand you. It enables you to really think about your brand’s value and how you communicate your value to your customers – a worthwhile effort we hear you say.
Talking about positioning can be challenging and we have met many a company that have never actually done it. To us it is essentially the most important building block of your company’s growth. Marketing positioning is not a brand statement; it is more about differentiation in your target market and clarity in your messaging. It is your why, what do you want to be known for?
So why do it?
Sitting down to work on your strategic positioning is all about focus. It will help you draw out your expertise, your distinguishing factor. It should enable you to focus your sales and marketing efforts on your specialisation.
Pin it down
B2B marketing is generally about getting to the details quicker. First you must understand the unique needs that companies you work with have and then appeal to their goals. Aim to describe your products and/or services, their unique attributes and advantages, and how your business helps other businesses in as few words as possible.
Make it stick
Simple psychology says that people remember one thing, not lots of things. Simplifying your message through clear positioning saves competing on everything all the time, being specific about what you do and why, and helps you become memorable for what you do best. Focus on subject matter and experience around your core business.
Positioning is not branding, although it is certainly about perception.
Feeling overwhelmed about strategic positioning? Drop us a line, we’re here to help. Over the past 14 years Focused Marketing has helped hundreds of companies map their future, so that everyone in the organisation is on the same page through activities such as positioning workshops and messaging audits.
