Having identified, through segmentation, the sectors that we should be aiming our marketing at, we can tailor the marketing methods to ensure our campaign reaches, and is received by our chosen segment, to achieve the objectives previously stated and repeated below.
1. Attract new customers (increase market share)
2. Build brand awareness
3. Increased revenue
It would be fair to presume, based on the analysis, the vast majority of those likely/very likely to engage our services would be active on social media. Mediums such as Facebook and Twitter offer extremely cost effective methods of advertising – low cost, large audience. Whilst we do have social media pages, these are generally used for internal announcements or business related news. To change these, or create specific pages is straightforward and immediately reaches a large audience.
We should be actively building on relationships with existing customers, with high emphasis placed on CRM (Customer Relationship Management). Use these customers as a positive advertisement; recommendations from friends on a service they have received will bring in new business far quicker than cold calling potential clients. There should be emphasis on the size of Macro; we are not going to disappear overnight, and have the resources to fulfil obligations, unlike smaller less established providers. Clients have to perceive they are receiving value for money, not necessarily the cheapest.
As previously mentioned, the finance department will have to agree to a budget. This would be needed to visually promote our brand; whether this is in the form of posters, flyers etc. or a greater number of vehicles with company livery. We want people to think “where have I seen that before” when they see the Macro logo.
To reduce our price point may seem counter-intuitive when discussing increasing revenue, but, as our market share grows, we can afford to reduce cost, but still maintain the same margin, with the same high level of service offered to clients. A 5% margin of many clients is far more profitable than 15% of a few clients.
Considering the time scale of 3 years to achieve the targets, we cannot just do one thing and then wait to see if we are successful. It will be a continual process and one that will need monitoring and adjusting, depending on market conditions. The Plan, Do, Check and Act cycle (Deming 1950) Fig. 12, is the perfect tool for this purpose.
Using this cycle, Macro will be able to react positively; changes discovered during the check stage can be implemented in a more proactive manner than purely reactive.
Even though the targeted growth is somewhat ambitious, Macro’s position is well placed to enable the achievement. Strength exists within the company, and the development of a service will develop those strengths and in this, will enhance the strengths of Macro as a business. This pool of strengths will also maintain the professional level of services that Macro currently offer and will be able to offer to new and existing clients.