Don’t be afraid: How owner-managed businesses can improve media strategy

Emilie Carson, media director at more2, says that partnering with experts and making the the most of your data could see your business reaping the rewards.

For every business, reaching customers is of vital importance to the ongoing success and growth of the company. Understanding what customers want and responding in a targeted and appropriate fashion will ultimately see businesses reaping the financial rewards.

Although the goal of targeting and acquiring customers is a common one for all businesses, the size and management structure of a company will of course impact media strategy. For example the data management services that will work for an established global brand will not necessarily be the right fit for an owner managed one. Smaller budgets, less experience and fewer team members may mean that smaller companies need to take a completely different approach to their media buying and planning tactics.

That said, owner-managed or smaller businesses should not be put off entering the arena of strategic media planning because of their size or experience; they just need to make sure they are surrounded by experts who can get the basics right: the rest will follow.

As with any successful marketing strategy, the most important first step is getting the data right, as without an accurate picture of the target audience, it’s impossible to deliver relevant communications. It is key that businesses using an outsourced data management service choose consultants that not only have the right knowledge and expertise to implement appropriate solutions, but that they are also the right fit for the company.

Especially for owner-managed organisations which don’t have the luxury of drawing on network support, employing a specialist that is not only an expert at what they do, but can also fully tailor themselves around your business’ needs and integrate themselves to work alongside your team will be the most effective approach.

Working from the inside of a business out to implement data solutions cuts out a lot of the confusion and misinterpretation that can be created when working as a completely outsourced entity. For example, a smaller business may need a very different consultation with a more hands on approach in comparison with a large multi conglomerate that already has a lot of experience in using their data for their media buying and planning programmes.

The important thing to remember is that investing in a data management agency in the short term will ultimately have a major difference to a company’s bottom line in the long run. Collating and implementing accurate customer insight will determine which areas of the business need to be developed and what new products or offerings need to be promoted. The closer and more in line an outsourced data agency is with an existing business the better the results will be when using data to target customers.

Targeting customers correctly is paramount to the growth and survival of a business and if not done in the right way could seriously harm a company’s prospects. For example, if you assume all customers are the same and send one message to everyone, you will get, at best, an average response. At worst, you risk alienating your customers to the point that they may leave and choose one of your competitors.

Aside from customer management, the main advantage data offers is a means of evaluating and qualifying everything a company does. You cannot improve anything in a business if you do not measure its success. If you do not use data intelligently, you risk spending lots on marketing and media buying without really understanding whether it is contributing to your sales and profits in the short and long-term. Collaborating with an agency that not only understands the importance of this, but can also fit seamlessly into your existing business will make a real difference to overall results and return.

There is no reason in this day and age not to measure campaigns or correctly target customers, and those who choose to partner with experts and make sure they are making the most of their data and what it can offer their business are the ones who end up reaping the rewards.