Our favorite, and most essential question we ask our clients is:
“What is it that you want to see from the work that we’re going to do?”
We call this your “Key Performance Indicator” (or KPI). What is that one thing that, when accomplished, we have succeeded? Your KPI will be the driving force behind your entire marketing strategy. Hence the reason we ask this question early on every time we meet with a new client.
On a basic level, many clients say their KPI is to grow their business. That’s great! I mean, don’t we all? But there’s other factors involved in growing your business that we need to know. We need the how’s and the why’s and the in-what-way’s:
How do you want to grow your business?
In what way do you want to see that growth?
Why do you want to pursue that type of growth?
Usually when the economy is down, growing your business is purely that- growth. Any way of additional revenue coming into the business, you’ll be happy with. You might consider diversifying your product offering or promoting discounts. You may decide to work with people you wouldn’t normally work with for the sake of growth.
There’s a lot of things companies can do in a down economy for business growth. Some of those things aren’t ideal on the flip side of the economy.
Customer Growth in 2019
The other side of the coin is what we’re seeing right now in 2019: an economy that allows you to take a slightly different approach to your KPI.
Yes, you still want business growth. But you don’t want just any customer. You want more of the customers that you work well with. Really, this should be your answer to our opening question all the time. But it’s especially the answer when we’re enjoying this 2019 economy.
Our Blackwood creatives are working with a doctor’s clinic. In a recent meeting, the doctor answered our question in the same way: he doesn’t necessarily want more hours and more patients. He wants his patients to use more of his services and essentially spend more money. We heard literally the same thing in probably 3 or 4 different new client meetings within a week. They all sounded like this:
We want more of our better customers who are using more of our services. Any ol’ customer will not do, especially high maintenance, low dollar customers that we would maybe accept in a down economy.
This is what we need to know as your marketing company. It’s an entirely different strategy when it comes to your website, active advertising, even in designing a logo.
If your aim is just more traffic, the strategy is simple- get your name out there and make it easy to get in touch with you. When you’re wanting a higher quality customer, maybe taking on fewer clients, you might add a little resistance by making it more difficult to get in with you. Qualifications could be involved. Require a consultation first, etc. Include things that will weed out the tire-kickers, those who will drop off after a month, or those who buy the cheapest offering and are done.
Business Growth in 2019
It all boils down to: What type of customers do you want to work with? It’s okay to simply want more customers, especially if you’re in a restaurant or retail environment. The difference between a quality customer and a not-so-quality is very small in such situations. You just want more butts in seats, and that’s ok.
But if you’re more of a B2B environment in 2019, we get you. We don’t want just any customer or client either. We want the kind of client who is on our retainer program, using more of our services, trusting us with all that we have to offer.
As you’re diving into finishing up 2019’s marketing, think about what type of customer you’re really looking for. Then create a marketing strategy that reflects that. Or bring your KPI to the creatives at Blackwood where business growth happens.