marketing services

Will Your Business Hit Its FY2024/2025 Goals?

That’s a big question.  And one that plenty of business owners are asking themselves right now. If you struggle to answer with a loud and confident ‘YES’, then it’s time to look at how working with a CPM Marketing Consultant can set you up for success in the new financial year.

What is a CPM?

A CPM is a Certified Practising Marketer.  This is the highest level of accreditation through the marketing industry’s peak body Australian Marketing Institute (AMI).

Just as you use a certified solicitor for legal advice or a CPA for financial services, the CPM accreditation is your assurance that your business growth and strategy are in the hands of a marketing professional.

Are you a CPM?

At BRANDiT we proudly say yes!  Michelle Fragar, our founder and director, is not only a CPM but also a past chair of the AMI’s QLD Committee with the fabulous Darren Needham-Walker who now joins the BRANDiT Strategy Consulting team.

If you fail to plan, you plan  

We all know that planning for the upcoming year makes good business sense. But, how many businesses commit to developing a rigorous plan?  One that overlays strategic actions against financial and operational objectives? This is where a Marketing Consultant adds real value.

A Marketing Consultant has the skills to translate your business goals into a series of strategically considered actionable steps. What does that mean exactly?

Case Study:  Collars 4 Canines

In this example case study, let’s say you manufacture and sell a range of high-quality dog collars “Collars 4 Canines”.

With your existing distribution channels, you’re expecting to comfortably sell 100,000 units in FY24/25.  However, you want to grow your business. After looking at production rates, you’re confident of manufacturing an additional 50,000 units. In addition, in the next 12 months, you want to launch two new product lines and open your first retail shopfront.

How Can a Marketing Consultant Help?

This business is in an ambitious growth phase, and quality marketing advice is essential for determining the strategy that will see Collars 4 Canines achieve its goals.  So, what would the top priorities for a Marketing Consultant be?

Ready, Set, Research!

A Marketing Consultant would begin with research and gathering relevant data.

Why do we do this?  Because investing in research and feeding relevant data into your marketing strategy sets the foundation for success.  Knowing the who, what, when, and where of your market opens doors and identifies opportunities.

It’s not just about the next 12 months.  Your goals are assessed and planned for consistent growth over a 5 to 10-year period, along with the infrastructure, assets and team required to achieve your goals.

For example, in this case study we want to understand how best to connect Collars 4 Canine’s product with its consumers.

Did you know approximately 69% of households in Australia own pets, with dogs being the most common (48%)? And, when it comes to how much Australians spend on their pets, dog owners are the biggest spenders, dropping an average of $3,218 per animal each year.

To achieve their sales goals Collars 4 Canines, must connect their products to consumers.  However, in such a large market, how will they do this?

Identify Market Opportunities for Sales Growth

Marketing Consultants are specialists in identifying where demand for a product or service comes from, and how it can be amplified.

This then creates a blueprint for internal team operations, along with the digital or traditional channels that will achieve your goals.

In our case study example, Collars 4 Canines must increase its purchaser base to meet heightened FY24/25 sales targets.  But how?  We expect a Marketing Consultant to begin by breaking down market segments and researching the buyer personas for each.

The outcome of this process is twofold.  First, an in-depth understanding of the business’s current audience.  Second, opportunities where Collars 4 Canines can grow its purchaser base.   A Marketing Consultant can then tailor a strategy to these two markets.

At the end of this stage, we have a series of defined Buyer Personas that directly match your target client, as well as a Touchpoint Analysis identifying which channels to use in the stages of the Consumer Life Cycle – from awareness to consideration through purchase, loyalty and repurchase phases.

We finish out this phase with a review of your customer experience process and how that is impacting your brand.

Build Brand Awareness

There are plenty of great reasons why strong brand awareness is key to a business’s success.  In this instance, developing strong brand awareness will give Collars 4 Canines a competitive edge.

Why is this important?  Because the Collars 4 Canines product operates within a crowded market.  There are plenty of products available for dog lovers.  To be successful and capture market share, Collars 4 Canines must become a ‘product of choice’.

To be a product of choice means that, when a consumer looks at all the products and options available, they see your brand and choose your product above all others.

In a competitive marketplace, a Marketing Consultant’s skill in shaping a brand strategy tailored to your business is invaluable.  The correlation of the brand, product value, customer service experience and operational costs all need to be reflected in a strong and consistent brand message.

Product Launch & Promotion Planning

Our last big action item for this case study would be the product launch and promotion plan.

In this case study, we’ve done all our research – Tick!

We’ve identified our target audience – Tick!

And, fine-tuned our brand to make it stand out from the crowd – Tick!

Now we look to rolling all these elements into a marketing strategy focused on increasing sales, launching two products and Collars 4 Canine’s new shopfront opening.

A Marketing Consultant will use their expertise to build a comprehensive marketing plan that sets out key objectives, messages and activity against a schedule of measurable metrics. Identifying everything from basics of brand colours and look, the keyword strategy for your digital marketing and identifying and prioritising any gaps in the market that show opportunity for growth. The outcome?  A strong blueprint for your growth.

Pre-launch Marketing

What does this look like for our Collars 4 Canines case study?  We want to broaden our consumer base by reaching dog owners and getting them to ‘know’ the brand and recognise it.

Ahead of the product launch and shop opening, we would deliver a dedicated brand awareness program.  This would include social media, email marketing, influencer partnerships and traditional advertising.

Launch & Beyond

Closer to launch we would create hype by adopting a PR strategy focused on the new products and shop opening. And, post-launch, we would support the product through ongoing promotion.

This overall strategy generates initial sales and cultivates brand loyalty, setting the stage for long-term success.

Make a CPM Marketing Consultant Your Key to Success This New Financial Year

How does this apply to your business?

You might not be in the pet accessories market, however our case study shows how to take business goals and structure these into a strategic marketing plan.

Every business is unique, and this is why the skills of a Marketing Consultant are invaluable in crafting the strategy that is right for your business goals.

So, are you confident sales will hit FY24/25 targets, or do you worry your business will fall short?

With the new financial year now looming, now is the time to look at how CPM Marketing Consulting with BRANDiT will set you up for success.

 

ARE YOU READY TO BE ROCKED?