Is Your Marketing Planned Yet?
Can you believe it’s a new year already? Have you started the year off right by having your marketing plan in place for this year? If not, you need to start immediately. Having your plan and budget in place now will help reduce the overall time you spend on your marketing campaigns.
Let’s be honest, marketing takes a lot of time and effort. We want you to be able to spend as much time on the sales floor as possible! So we’ve compiled a few tips from the pros here at Fruchtman to help you out:
Create a budget and stick to it. This includes sponsorships and donations. Being a contributing part of the community is necessary and noble, but don’t fall into the habit of giving to everyone who asks. Review what charities have been beneficial for you, plan for them again this year, and add a little cushion to cover any last-minute opportunities which may come up.
Set your goals. Are you focusing on reaching the first-time bridal consumer, or will you be targeting the baby boomers who have more discretionary income? Don’t overreach. If your budget won’t support appropriate campaigns to reach both audiences, you need to pick one. Once you have built up that customer base, your increased sales will allow for a larger budget the next year to expand into another demographic.
Plan your events. What annual events do you do in your store? If they are profitable, plan to do them again. What other events would be beneficial in reaching your target customer? Set aside a portion of your budget to promote these events. Whether you’re just reaching out to existing customers or will be doing a media campaign for new customers, determine what the spend will be now so you won’t fall into that media rep trap of spending way too much at the last minute and ruining your return on investment.
Create a branding plan. If your budget allows, plan for a media campaign to give you consistent exposure to your target audience. This doesn’t need to run every week of the year. Look at a two-weeks-on, two-weeks-off type of schedule, if possible. If your target audience is the affluent consumer, make sure to pay attention to their typical travel times. If they pack up and leave town during the summer, know that and limit your spending to that audience during that time.
Negotiate your media exposure for the entire year. Once you know what you want and can afford to do, have your media reps submit proposals for the entire year. Doing this will allow you more leverage for better rates, promotions, and other added value exposure.
These are just a few things you should do that will help your year pass more smoothly. Contact suits@fruchtman.com if you need help.
