Tags – Targeted marketing in commercial finance
Typically commercial brokers target established manufacturers or successful growing businesses. Your first instinct is to fall back on your networks, but there are limits to this mentality.
The challenge of networking with finance lenders is that they are usually based in London and manufacturers tend to be more spread across the UK. So, organic networking works for the first few years but once you are growing exponentially, you’ll have to turn to target marketing because you’ll be too busy to just grow through networking.
In all fairness, targeted marketing comes with its own sets of benefits too. To begin, you can be more specific about the type of clients you want to work with and you can reach a large number of potential clients quickly and easily.
In addition, by understanding the needs and wants of their target clients, brokers can create marketing materials and strategies that will resonate with these individuals and lead to more business.
Saying that, here are 4 tips for targeting your marketing as a commercial finance company:
1. Define Your Target Audience
To begin, you need to understand who you are targeting. So, start by answering the following:
- Who are you trying to reach with your marketing?
- What are their needs and wants?
- What pain points are you trying to address?
At this point, you’ll know your ideal company profiles from your past clients so you can use this information to create targeted marketing lists.
2. Develop Marketing Assets
Once you know who your target audience is, you can create marketing materials that speak directly to them.
To start off, make a list of which are the most important solutions to the pain points of your target audience, and then create marketing assets that talk directly about your solutions.
For instance, if speed is your selling point, use an analogy for speed, e.g. F1, a rocket ship, or a Cheetah, that talks directly to the person receiving your marketing message.
Make sure that the materials produced are also in line with your branding and values.
3. Use the Right Channels
Not all marketing channels will be effective for reaching your target audience.
For example, if you’re targeting businesses, LinkedIn may be a more effective channel than Facebook. Likewise, if you’re targeting consumers, email marketing can work.
No matter what channels you use, we suggest targeting eco systems in clusters because when there are genuine mutual connections, there is credibility. For instance, if you are more active on LinkedIn, make your strategy LinkedIn-centric.
4. Measure Your Results
Once you’ve implemented your targeted marketing strategy, it’s important to measure the results.
Simply, set your KPIs and measure them.
This will help you determine whether or not your strategy is effective and whether or not you need to make any adjustments.
Chances are: you will have to make adjustments and improvements over time.
In summary, value is in your business network. But, a network should not be just defined by who you can reach in person only; there are simply more ways to extend your network and do it even better by bringing more ideal people into your circle.
In all fairness, time is a finite resource, so it’s important money invested goes to efforts that make a worthwhile return.
When you have a well-oiled targeted marketing strategy in place, you’ll be able to attract more of the right clients and grow your business more effectively.
By employing targeted marketing techniques, commercial finance companies can ensure that their marketing efforts are focused on the right people, resulting in more good business.
To learn more, get in touch with us today.
You may also like: