Marketing is the most important part of any business activity. It is what creates customers and generates income, guides the future course of a business and defines whether it will be a success or a failure. Without marketing, a business is like sitting in the dark and expecting people to find you without a light.
Few industries require companies to stay as nimble and on their toes as the fashion business. Trends in fashion retail are continually changing, meaning businesses must continually adapt to market demands. This ever-changing market contributes to strong competition among businesses in the industry.
According to Fashion United Business Intelligence, in Australia the annual retail sales of fashion are estimated to be 21 billion dollars. With such a large market consumers not only want to see a level of freshness in their products, but also in the entire shopping experience.
I often see many businesses who view marketing as an expense rather than being able to take their business to the next level. Instead of hiring an external marketing manager the task is often bundled with other responsibilities such as sales or administrative support.
For a sustained marketing effort, a business of any size requires a dedicated marketing manager. Below are three ways a marketing manager can assist your business.
1. Collaborate With Business Staff
A marketing manager (MM) will collaborate with other communications staffers, publicity, promotions or public relations, sales managers and executives, and head office. Liaising with other communication disciplines within the business will ensure a coordinated effort.
Your MM will take a look at the company’s history. They will be looking at which of its past marketing strategies have been successful. More importantly, they will want to know which ones haven’t been successful. This way they can capitalise on previous successes and learn from the mistakes of others.
Businesses in the fashion field must continually promote new trends in order to sell more products. Furthermore, trends in the field are continually changing, meaning businesses must continually adapt to market demands. If you can spot a trend, and capitalise on it, you just may be able to stay ahead of the competition in the fashion industry.
2. Identify The Ideal Audience
Far more important than knowing your business is knowing your customer. If you don’t understand the people in your target market, you’re marketing campaign is almost guaranteed to fail.
Your MM will look at the company’s existing customer base. They will engage existing customers and try to understand them and hear what they have to say. As part of the process your MM will also monitor the competition, create new ideas, identify outlets, and plans the strategy to involve customers and retain them.
3. Understand The Stores Product And Service
Customer are unlikely to simply walk into your business and buy something from you if they don’t know who you are, what you are selling and why they should choose you over the competition.
Your MM will know the product’s value and priority. Similar to audience targeting, if a particular service, product, course, or lead is tied to higher revenue, the MM will be able to prioritise these features appropriately.
They will identify the areas in which the product fits and where the business should focus its marketing strategy and, therefore, spend its budget for the maximum coverage and results.
Getting those customers is one of the biggest challenges that businesses face on a day in, day out basis. Without customers, your business would not survive. To attract and retain customers, your business needs to understand the value of marketing.
By Bev Strickland, Director and Founder.
To learn more about all things social, contact Strictlymarketing your one-stop marketing shop: www.strictlymarketing.com.au