Hello,
Welcome to the June edition of the Platinum Mix eNewsletter. Last month we took a look at various techniques in increasing the effectiveness of promoting and showcased the latest technology in dye sublimation. This months issue will introduce some new government grants available to SME's and explore the personalisation of marketing communications.
New Federal Government Grants for SME's
The Federal Government has recently launched a range of grants that will assist many SME’s in their various growth strategies. It is a government initiative available to researchers, entrepreneurs and innovative companies to convert ideas into successful commercial ventures.
Here is a snap shot of what grants are available:
Skills and Knowledge Grants – Support of up to $50,000 for specialist advice and services to help communicate an idea.
Experienced Executives – Support of up to $200,000 over 2 years to engage experienced CEO’s or other executives.
Proof of Concept Grants – From $50,000 to $250,000 to test the commercial viability of a new product, process or service.
Early stage commercialisation Grants – Repayble grants from $250,000 to $2M to undertake activities that enable a new product, process or service to be taken to market.
Of course, each grant have their own associated T&C’s and repayment terms, but they will help many SME’s mitigate a lot of risk involved in getting an idea to market without seeking capitol investors.
In short this means these grants can assist your business in:
- Business planning
- Market Research
- Creating link to other companies
- Hiring consultants to help
- Prototypes
For more information go to the government website, click here.
Personalise it!
Study after study has shown that personalising communications to your existing and potential clients can increase customer loyalty and ultimately revenues for the business. I am not suggesting a personal salutation to each piece of your marketing communication, but I am recommending that you demonstrate an understanding of your target market in your marketing communications.
Many businesses will have data on their target markets scattered across various sources within their business, from sales staff, to purchasing behaviour records, web traffic and client demographics. Efforts should be made to consolidate and analyse this data to provide a business with a picture of their target market, then personalise marketing communications to appeal to them.
Some recommendations on how to personalise your marketing efforts:
Capture all your customer data – from all sources, the analysis of which will to enable you to categorise your customers and communicate to each segment.
Monitor your marketing efforts – This could be as easy as asking each customer for their structure feedback on your marketing communications.
Be consistent with your message across multiple mediums – to ensure you reach a wider audience. Everyone decodes information differently.
Platinum Mix can assist your business with all the marketing strategies mentioned in this, and subsequent eNewsletters. So if your business requires any marketing assistance, call us today on 08 9380 6929.
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