ADP: How to Determine the Right Marketing Mix
The following article was authored by Adam Shiflett, marketing manager for ADP Lightspeed, examining how businesses can determine the most effective marketing tools.
Have you ever tried to loosen a rusty bolt with a pair of scissors? Using the wrong tools for a job just does not work. The same applies with your marketing tools.
To maximize your marketing power you need to decide which customers you want to focus on. Then determine which marketing tools will be the most successful in reaching that group. The combination of those tools is called your marketing mix and creates your communication toolbox.
In a survey of over a hundred Lightspeed dealers on marketing tools they use, we found that dealers felt the most effective marketing tools for generating new business were:
2. Advertisements (Billboards, Newspapers, Radio, etc.)
4. (RV and Marine dealers) Referral Programs
4. (Powersports dealers) Social Media
Each of these can be effective tools, but they may not be the right fit for you or your customers.
Getting the Right Mix
So how do you determine what works? The first step is to understand who you are trying to get in your store. If you don’t define who you want as a customer and just shoot for the general public you will spend too much money and get disappointing customer traffic.
Once you indentify your target customers, it is time to see what tools will reach them. Age, gender, race and social circles are factors you have to think about. Here is a breakdown of the tools. I’ll grade each one on: Reach: the volume of people you hit, Targeted: ability to personalize the communication, Expense, Age: ages that are mostly influenced and Tracking: availability of reporting on responses.
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