The new year is a popular time for resolutions and promises to better the self. It forces you to reflect upon yourself and your growth over the last year. The new year is also a great time to look at your current business plan and to find areas of improvement. Most businesses can use some improvement, usually in specific parts of the business. This year, make an attempt to evaluate and then improve upon your marketing and advertising campaigns.
Evaluate your current returns
The end of the year is a great time to look at the specific advertising campaigns that your business ran for the year. Look at the profits and the returns that were received from these marketing campaigns. Figure out which marketing plan was the most successful and returned the most new customers, and which ones were the least profitable. This can give you a great starting point on building your new plan for the new year.
Consider the information you are sharing
When you market your business through any form of communication, you are sharing information about the business with your potential customers. That information might be who you are as a business, how long you have been in business for, your location, your specific services and products that are offered, and any discounts or coupons that you are offering them. Look over your current marketing materials from an outsiders view. Does it leave you with any additional questions? Does it make you want more information? Is it too busy, causing you to quickly skim over the information?
In most cases, less is better. People do not have much patience. You only get a few seconds to grab their attention. This is why billboards are so successful. Approximately 71% of people often look at the messages on roadside billboards (traditional and digital combined). If you think about it, most billboards are full of graphics and actually contain very little in text. It is usually the images that grab the attention of the customer. Marquee signs for businesses are very similar to billboards. Customers are more likely to pay attention to marquee signs for businesses that contain images and little in wording.
Some businesses make the mistake of spending too much on advertising to customers who are too far from their storefront. Approximately 85% of a business?s customers live of work within a five mile radius of its location. Attempt investing more in local marketing. More customers will be willing to try your business out because it is so close to their home. Some customers may even choose to shop there because you are considered a neighbor to them. Electric business signs and digital LED business signs are a great way to notify local customers of your location.
Spruce up the exterior of your business
Considering that many of your potential customers live close to your businesses storefront, consider spending money on the exterior of your business. Make it stand out. Invest in marquee signs for businesses. Even changing the commercial business signs out front can show an increase in profits and customers. Studies show that adding or changing a sign directly improve sales revenue. Replacing a store front wall sign with a larger sign increases revenue by 7.7%.
Become involved in the community
Community members tend to support other community members. In addition to your electronic signs for businesses installed out front, notify local community members of discounts especially for them. Provide discounts to neighboring businesses for your services. Most of them will be willing to provide you with a similar discount on their services. They may even advertise and network your services to their current customers. Partner with the local schools or community offices for further referrals.
This new year, make your improvement plan about your business. Look at marketing plans that have worked in the past and repeat them. Refrain from ones that did not return much. Partner with community members and expand your marketing efforts to local customers. Simply becoming a part of a community is a commonly overlooked marketing strategy. Consider marquee signs for businesses for more noticeability from the road.