Dynamic Business: Let’s talk Marketing
In our Let’s Talk discussion today, we’re sharing the insider tips from small businesses that have marketed a new product or service, and what they’ve learned from that process. A well-executed marketing plan drives a small business’s growth, and by considering fully the product or service you’re selling, and how it’s going to impact the end-user, you can achieve amazing results.
What is the desired outcome of a marketing campaign? Often reverse engineering is best practice to lead a successful marketing campaign, and really honing in on the who and why of your ideal customer. Is it networking, collaborations, social media, guerrilla marketing or other mediums that work best for your brand and new product?
Well, our small business owners, decision makers and industry leaders are here to help you with that, by providing their tried and tested methods, and importantly their outcomes. Let’s find out what worked for them in their product roll out and their key take-away tips.
Leo Tyndall, Founder Marketlend
SMEs have long been neglected when it comes to finance - both neglected and exploited. One of the marketing lessons we learned while pioneering marketplace lending in Australia was that SMEs and those that sell to them have very practical, nuts-and-bolts need for money. What we discovered was that there was a place for us to address these needs through a new product offering - UnLock - which filled a specific gap that no one seemed to be acknowledging around how payment terms could impact an SMEs ability to get on with its business.
By listening to SMEs and then developing something specifically for what we were hearing, UnLock quickly became a flagship offering. One specific lesson was how early on we changed from presenting UnLock as interest free to more of a payment gateway benefiting buyers - turns out the ease of the payment gateway was more important to SMEs than the interest free component. Great marketing is almost co-creation with those you are trying to help (and sell to).