Marketing Lens Case Study: Improve Marketing Effectiveness Using Self-Diagnosis
The Client: A bar in New York
Business Challenge: The bar, a well-established and successful business, pursues the objective of attracting more customers in order to double its turnover and use marketing more professionally. To do this, the bar’s management decided to start using a marketing diagnosis report designed to improve marketing effectiveness.
- limited use of educational marketing with limited impact in generating sales
- unsystematic knowledge about competition
- incomplete use and limited impact of marketing tactics
- inadequate use of online marketing.
Solutions: The bar’s management put up a list of solutions based on the key findings of the Marketing Lens Report. As a result of two brainstorming sessions, they came up with the following solutions to improve marketing effectiveness:
1. use educational marketing to build a stronger brand
- promoting the theme events organized in an education-based style by sharing interesting information about the themes (for example, the history of burlesque)
- including information about beer making or nutritional and health information in the bar’s food and drinks menu and promotional materials.
2. identify and use clear and relevant information for a better and more useful understanding of the competition: products, marketing budget, sales initiatives, promoting channels, promotional activities and company structure. The first action after choosing the criteria was to study three rival bars that have the same target and to identify which of their tactics have good impact on their businesses.
3. implement a voucher-based cross-promotion initiative
- – strike a partnership with another bar from a different area of New York, that has the same target market. Each bar gives a free drink voucher in the other bar, offered together with the bill. This way, both bars push clients from one another, keeping their clients close.
- – partner up with five stores (5 min walk from the bar) by offering a free drink to anyone that buys merchandise of $50 or more. This way, the shop gives a present to its clients, and the bar gets more openhanded clients into its premises. These clients come in usually during the dead time of the bar (2pm – 6pm). Thus, this is a way of generating a nice additional profit, without any investment or cost.
4. better use of online marketing tools
- encourage clients to submit positive reviews on tripadviser and other review sites
- PR Manager responds timely to all reviews, especially the negative ones
- upload photos and videos with the bar’s fantastic atmosphere on social media channels (facebook, google+, youtube) and review sites (tripadviser).
- bar’s brand strengthened by education-based marketing
- an increased number of good business ideas collected from competitors
- new clients attracted via the voucher-based cross-promotion initiative that generate additional profit with no investment
- bar’s online image improved and new customers attracted.