How to Create an Aerospace Marketing Plan For Your Aerospace BusinessBusiness Advice & Research
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A strong aerospace marketing plan is now more important than ever with the industry undoubtedly experiencing some turbulence over the last couple of years.
According to Global Newswire, it looks like there are only clear skies ahead with the aerospace industry projected to experience rapid growth.
The global aerospace market is expected to grow from $247.61 billion in 2021 to $271.76 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%.
And the forecast is that by 2026, the market is expected to reach $442.25 billion–now that’s some serious growth.
And we think that those impressive projections make for a great catalyst for opportunity and growth across the industry as a whole.
If you already have an aerospace business, you may be wondering what this means for you? Sure, you could experience growth along with the market, but why not make the most of it by growing your business with killer aerospace marketing to boot?
Well, all great marketing begins with a plan. Here’s some tips on how to get started.
Key Tips for an Aerospace Marketing Plan
1. Determine Who You Are and Who Your Consumer Is
Before defining an aerospace marketing plan, you must define who you are as both a brand and a business. What are your core values?
What sets you apart from competitors? Do you want to position yourself as a trendy brand, a trusted brand, or perhaps a hybrid of both?
Take some time to consider what’s important to you and the impression you want to make on your target market–this brings us to our next point:
Sure, it would be great if everyone on the planet had an interest in your product, but the truth is, the aerospace market is a niche one at best.
This is not a bad thing. But it does require fully knowing and understanding your audience, so that your aerospace marketing levers can meet them where they are already spending their time.
It’s fairly safe to say that your consumer is not the average client–they likely are used to luxury and have the budgets to sustain such a lifestyle.
You’ll have to conduct your own market research to truly define who your consumer is, as they may have varying motivations for air travel; be it for luxurious leisure, business, “bleisure” or even military purposes.
It can also be a good idea to understand where your target market wants to travel –whether domestically, internationally or intergalactically.
2. Go On the Offensive and Target Appropriately
Because the aerospace market is hot, you’ll want to position your offering to maximize your market share. Positioning is heavily influenced by the performance features, benefits and price You’ll also want to: .
- Conduct a SWOT analysis: SWOT stands for: Strength, Weakness, Opportunity, Threat. This tried-and-tested marketing exercise will help you identify any weaknesses that you’ll want to improve and perhaps not highlight within your campaigns. While also identifying broader opportunities. A part of the “threat” component here could be competitors. So you will also want to do an analysis on competing brands and leaders in the space. In doing so, you can see where you land and refine your value propositions accordingly.
- Determine a Lead-Gen Strategy. Lead Generation is the marketing model of today. It’s a fusion of both inbound and outbound marketing methods that can include:
- Having an optimized website which includes a blog to help with organic search and building brand awareness.
- Investing in paid search so that your brand appears in paid media ads within search engine result pages and social media platforms.
- Building an app that is user-friendly and available for iPhone and Android users.
- Maintaining a strong social media presence on channels that will best resonate with your target audience. Think visual friendly platforms like TikTok, YouTube, Instagram, Facebook as well as professional networks like LinkedIn and Twitter.
- Partaking in traditional email marketing methods with advanced visuals and unique call-to-actions.
- Offering enhanced CX, customer experiences, that include modern forms of communication like live chat and text messages.
- Attending trade shows and conferences to establish your brand as an authority and relevant player in your industry.
3. Stay in the Know
It’s important to know that with all things in life–your industry, target market and goals are subject to change.
Not to mention, that advancements are taking place every day. Stay in the know about changes in your industry and be ready to pivot when necessary.
If your company is unveiling a new feature or tech offering, be sure to let your marketing strategy shed light on it–even if that means tabling a plan that may have already been in the works.
When working in a competitive industry like aerospace, be mindful that innovation and tech are leading factors of success and don’t be afraid to keep your plan agile enough to support such attractive advancements.
4. Partner Up
A strategic brand partnership can bring awareness to a new market while simultaneously strengthening an existing one.
Consider brands in complementary industries and concept a few campaigns that could appeal to them too. If you can cement a partnership, you can use both marketing teams to work collaboratively together to best appeal to the combined markets.
Further, mergers and acquisitions are another way to partner with brands in a similar industry and combine forces to increase impact.
5. Monitor and Report
To truly know if your aerospace marketing plan is working or not, you will have to track and report on progress. Take some time to draw up measurable KPIs at the kickoff of any aerospace marketing campaign.
You can use various tools, including analytics platforms like Google Analytics, Facebook Audience Insights, SEMRush and the like to help monitor web performance for web and social-based marketing plans.
6. Refine When Needed
A big element that can impact your overall aerospace marketing plan’s success is having the ability to learn from your mistakes and adjust when needed.
Absorb consumer feedback, watch your performance metrics and don’t be afraid to reinvent the wheel if that’s what the data is telling you to do.
And of course remember, it’s not all about consumer acquisition. It’s important to not forget about consumer retention too.
Your current customers could be your very best aerospace marketing lever. They’ll have friends with similar interests and be willing to sing your praises when truly impressed.
At Embroker, we’re here to be more than just your insurance provider–we want to see your business succeed and grow and hope to provide you with the right insights to get you there.
Check back again for more posts on owning and operating your aerospace business.