Mobile marketing/payments has been coming on strong and is essentially the wave of the future. What are your thoughts on adding mobile marketing as a value added service for ISO's to offer to their existing and new merchants?
Vice President, Corporate Finance
Yes, mobile payments are coming on strong. ISOs must have a mobile payments technology offering in their stable of acceptance solutions, just as they do for e-Commerce, virtual terminal, gateway, etc. The days of just offering a standalone point-of-sale terminal device as the only merchant acceptance mechanism are gone. Mobile loyalty and rewards programs are taking off too, in combination with mobile payments or as standalone solutions. Strategic Marketing can help your business evaluate the plethora of new mobile offerings hitting the marketplace and then help you launch the ones that make the most sense for your business through various sales channels.
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First, know that you're not alone. Many start-ups and small companies don't have big marketing budgets and dedicated resources, and many larger companies have cut staffing and budgets as well. However, work still needs to get done. The real question is what's best to tackle first, and by whom, to get the most out of your marketing dollars.
Step one is to conduct a marketing assessment. This documents what programs and materials you have in place and identifies what's working, what's not and any gaps. Step two is to develop a marketing plan in alighment with your company's sales plans and business goals. The marketing plan should cover a specific time period, typically one year, and chronicle all marketing activities, programs and materials you want to undertake along with estimated expenditures. You'll want to address a comprehensive list of topics like brand development, publicity, advertising, tradeshows and events, marketing communications, product launches, lead generation, sales tools, marketing collateral and more. The next step is to prioritize the tactics in order of importance, keeping your overall marketing budget in mind, so that items can be removed from the plan as necessary. Once the marketing plan is finalized, a marketing calendar is developed and tactical execution can begin.
Know that Strategic Marketing can help you every step of the way—from conducting a marketing assessment and developing your makreting plan and budget to creating various programs and materials, or even tackling all of your marketing plan tactics. Our goal is to help you improve your marketing effectiveness while working within your budget.
Director of Mobile Payments
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We have limited marketing materials for our sales team to use and no dedicated marketing resources. How do we go about making improvements and advancing our efforts on a tight budget?