Owning a company is hard. Having a winning product or service is only the beginning. Without a strong marketing strategy, the best message will never reach the people. Marketing can get expensive, but there are plenty of ways to make getting the word out more efficient. Here are seven essential strategies for better marketing.
1. Go Where the ROI Is
Since marketing does have an initial outlay, it makes sense to adopt the strategies proven to give the best returns. In this respect, email marketing and SMS (text message) marketing stand tall. The ROI of email marketing, according to Statista, is around $45 for every dollar spent. SMS returns are less clear, but what is certain is that people are more likely to open a text message than an email. Consider which strategy might be the best fit for your unique outreach needs.
2. Learn About Changing Markets
There’s no way to market successfully to people you don’t understand. Good market research combines qualitative and quantitative data. The first means putting together focus groups and reading reviews to get a subjective impression of customer opinions. The second involves hard statistics. Remember that the customers in your niche aren’t necessarily representative of the market as a whole. Neither are the customers who specifically chose your brand. Keep these two caveats in mind as you collect data points.
3. Get Blogging
Creating great content is more important than ever. Content creation helps to build a rapport with your customers. Content that is informative and educational engenders a reputation for trustworthiness. A recent study revealed that 76% of customers don’t trust the accuracy of advertisements. Making engaging content is a way of speaking to customers without directly selling to them. Combining this with search engine optimization (SEO) strategies makes this powerful tactic even more effective.
4. Create a Lead Magnet
A lead magnet is a free offering that entices people to learn more about your company’s paid products or services. Trial versions of a product are one example. Tip sheets and guides are another. As long as the customer enters their personal information, it counts as a lead magnet Note: This tactic can wear thin on customer patience. Nobody wants to give out their personal information without a good reason. Make sure that even your free offers leave them wanting more.
5. Develop Multiple Channels
Social media is an incredible tool for marketing. There’s no reason to pick just one channel and every reason to expand. Multichannel and omnichannel marketing strategies work because they meet consumers in their preferred spaces. A new offer can get publicity faster through a Twitter hashtag than a billboard for no cost. Omnichannel marketing takes a uniquely holistic approach. Cross-promotion becomes the art of tailoring the same message to different media. All of this serves to broaden your reach considerably.
6. Partner With Influencers
One effective way to leverage social media is to partner with prominent influencers. According to a recent study, 58% of respondents said they’d bought a new product based on influencer recommendations. The trick is finding the right influencers. Choose people who share the message and image of your company. Look for trustworthiness and take a look at their past collaborations. Resist the urge to micromanage. Allow them the creative freedom to engage in their own special way.
7. Sell Your Vision
Brand trust has hit an all-time low. A part of this is the genuine or perceived lack of ethics practiced by certain brands. Make sure your customers know that your company is in business for reasons that transcend profit. Studies show that around half of customers now rank sustainability as a top-five determinant of value. Your company may or may not be ready to “go green,” but that’s not the only way to help the world. Don’t just market your products. Market a lifestyle.
No two businesses are alike. That means that there’s no perfect marketing campaign. Good marketing means analyzing your long-term and short-term goals and sending the right message. Use these strategies as a beginning.