In the second episode of the Lingerie Success podcast, Kris Cardona, Angel Gallegos, and Katie Donnelly discuss why you need a marketing plan and how it can serve as the road map for your business. They also explain the value of your unique selling proposition or USP, address the importance of cultivating a customer contact database, and share the best ways to reach out to companies for business relationships.
Episode 2: Strategic Marketing: Setting Up Your Store For Success With A Marketing Plan [28:41]
Marketing plans are the key to lingerie store success.
[00:01-04:08] If marketing is like a road trip, then a marketing plan is like a road map for your business. The best marketing plans get you from point A to point B and guide you through roadblocks and detours. If you're feel like you're veering off course, your marketing plan will help you get back on track.
Why does my business need a marketing plan?
First, define your "Why".
[04:09-06:28] Your "why" is the foundation of your business. Take a moment and ask yourself: "Why did I start my business?" If you're unsure of your why, check out Simon Sinek's book Start With Why. It'll help you clearly define your why.
What do I need as a foundation for my marketing strategy?
Include sales goals in your marketing plan.
[06:29-08:08] Strategic selling starts with a plan. When creating your marketing plan, be sure to include these 4 goals: increasing order frequency, increasing spend, maximizing up selling, and encouraging return trips.
What are 4 things I should keep in mind while creating my marketing plan?
Identify and clearly define your audience.
[08:09-10:26] Who are your ideal target customers? The most successful businesses have a clear understanding of who they marketing and selling to. They can tell you what colors their customers are buying, what sizes they're wearing, how much they're spending on average in their stores, where they live, how old they are, etc.
If you'd like to learn more about creating buyer personas and identifying target markets, check out Episode 3 of the Lingerie Success Podcast, where we'll be discussing buyer persona creation and utilization.
What is a target market?
How do I identify my target audience?
Your unique selling proposition will set you apart from other lingerie stores.
[10:27-14:01] What are you the expert on? What sets you apart from everyone else in your space? Never undestimate the power of a USP. As Kris explains in the podcast, competition is fierce in the lingerie industry. People already expect excellent customer service from everyone. A clear understanding of what your USP is and how to use to your advantage will set you apart and help you drive business to your store.
What is a unique selling proposition or USP?
Your customers buy on their terms. Positioning yourself as an expert will put you ahead of the game.
[14:02-19:25] It's important to constantly be looking for new ways to reach and connect with them. Personalized content marketing is key. Customers are less responsive than ever to interruptive marketing. Key questions to ask yourself: Do you have the right platform for delivering your message? Are you utilizing email, social media, EDDM, and SMS? Can you be easily found online? What are you doing to show the world that you're an expert? Why should everyone buy from you?
How can I effectively communicate my USP to my local and online communities?
What are the seven lingerie tools for lingerie success?
Don't forget to promote yourself locally.
[19:26-21:11] It's a good idea to JV, or joint venture, with other businesses. Our suggestion is to seek out businesses (hair salons, boutiques, etc.) who share the same audience as you. This is why it's so important to understand your target market and create buyer personas. By partnering with local businesses, organizations, and charities, you'll be able to develop and nuture relationships that can help increase awareness of your business, reach women who may not be customers yet, and get back on the radar of customers who haven't shopped with you in a while.
What are some of the benefits to collaborating with local businesses?
What should I know before reaching out to local businesses?
Include social media in your marketing plan.
[21:12-23:34] Focus on building an audience that you own. Facebook, Instagram, and Twitter provide us with "borrowed" audiences. In order to reach the majority of our followers on Facebook, for example, we have to buy ads and target our posts. On the other hand, your email list, or SMS list, is an audience that you own. This is one of the many reasons why you need a contact database.
What is a contact database?
How often should I update my contact database?
The Internet is a tool to provide value to people.
[23:35-26:05] Never understimate the power of value. If the Internet is a channel of distribution, then social media is one of the many distributed channels. It's important to use these channels to educate your customers, provide lingerie care tips, tell them what you're all about, etc. Your customers want to hear and learn from you. Show them that you drive value first and then ask for a sale.
Would you consider the Internet to be a marketing method or a channel of distribution?
What are some best practices for incorporating social media into my marketing plan?
[26:06-27:34] Actionable tasks for a successful week.
-Write down 5 business goals and 5 marketing goals for the next year that you would like to include in your marketing plan.
-Determine your unique selling proposition and make it known. If you're a popular retailer for maternity bras, for example, be sure to add that to your My Google Business page, Facebook business page, and Yelp business page.
-Brainstorm 3 events that involve your local community that you could add to your store's social calendar this year. Suggestions include fashion shows, charity fundraisers, city events, etc.
Question of the day
[27:35-28:41] We want to hear from you!
What would you like us to cover in future episodes?
Resources mentioned in this episode:
Jab, Jab, Jab, Right Hook: How To Tell Your Story In A Noisy Social World by Gary Vaynerchuk
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