Crafting the right marketing strategies for your market then implementing them flawlessly transforms your market performance, making you a powerhouse in your market. Of course, what constitutes the right marketing strategies changes over time, especially given changes in the actions of other companies, and implementing market strategies flawlessly depends heavily on the people you use for this purpose. Today, I’d like to share some smart marketing tips to help you both build the right strategy and implement it effectively.
Smart marketing tips
Check out the image above, which is a little thing I created to reach business owners new to the digital marketing space in a recent presentation. BTW, you can access that presentation here. What I couldn’t capture in a simple image, and one reason to view the entire presentation, is the vast number of marketing tactics that fit into step 2 so I only included content marketing in the planning stage. The other thing missing from this image is that the entire process is circular, with metrics and insights information the next round of marketing strategy as you plan for the next year.
Using this image (with the caveats above) as a starting point, I attempt to provide smart marketing tips in order of their impact on performance in the sections below. Read on!
1. Sense and respond
Building your initial marketing plan is a bit of a crapshoot since you don’t have much upon which to base your goals, assumptions, and plans. I worked with the Small Business Administration for years and my role was to provide one-on-one consulting to folks wanting to start a new business. Finding data to build a marketing plan was always challenging without a history to draw on.
Even in this situation, you can start by collecting metrics regarding other players in your market, as well as external forces that impact the future, such as changes in the economy, culture, and technology. We talk about this as a sense and respond process whereby you use market sensing to develop tactics that respond to what you sense.
After your first period, you should include your own metrics in developing responses and planning for the next period. Now you have more concrete goals based on past experience and you’re in a better position to determine which tactics produce the highest ROI so you know where to spend your marketing budget.
2. Customers are kings
I’ve said this many times but it bears repeating:
Consumers buy solutions they don’t buy products
As long as you think you sell products, you miss the boat. And, despite everything you ever thought was true about business success, the single element that distinguishes successful businesses from unsuccessful ones is their ability to cater to their market. Everything else, costs, labor, vendors, etc, simply determine the level of success.
Every decision you make as a business must consider consumers first. Do that and you’ll succeed.
3. The customer is always right
Maybe you saw signs that said,
Rule 1: the customer is always right
Rule 2: if the customer is wrong, return to Rule 1 [source]
The best way to increase sales is by ensuring your previous and current customers are satisfied. In addition, you want to ensure that all your customers feel encouraged to recommend your products to others.
Operating and staffing your customer service department is critical for success, especially in a service business where every employee is part of the customer service team. Hire people with empathy, intelligence, and people skills then motivate them to work toward solving customer problems often means the difference between success and failure.
Increasingly, consumers use a variety of channels to register customer complaints and they expect resolution of those complaints fast and in the same channel. For instance, if a customer complains on Twitter, an increasingly popular place to register complaints, respond immediately by monitoring the platform for brand mentions. And, never attempt to cover up complaints on social platforms or minimize them. The way you respond to complaints on social media is monitored in a public platform where you’re judged by how quickly and completely you respond.
4. Show your appreciation
Customers and others who engage with your online or in the physical world are a gift. Even those who point out your failures as they provide insights to help you do a better job in the future. So, thank customers for feedback, recommendations, and other actions that support your brand.
For instance, when folks post positive things about your brand, reach out to thank them. Below, you see a thank you, in effect, from Google Analytics to recognize my positive post about their brand.
The Tweet sent a ton of traffic to my website, providing value to my efforts. Did this make me more likely to recommend their brand in the future? You betcha.
Hosting contests, especially for folks who recommend your brand or share it with their community is another way of implicitly thanking them for positive behaviors. As a result, more people will view your page, which is a win for your business.
Plus, constant bi-directional communication with your customers increases your return rate and client loyalty.
5. Use digital marketing
Digital marketing provides many benefits for reaching your target marketing effectively. That’s why digital marketing now makes up the largest part of the marketing budget for firms.
Among the benefits of digital marketing are:
- cost-effective as the cost per person reached is very low and you can do a lot with a small budget on social media and search advertising
- highly targeted so you only reach those most likely to buy your brand versus TV or radio where you reach a bunch of folks who will never buy your product
- immediate since you can get up an advertising campaign in minutes or create a motivational video in a few days instead of weeks or months to create content for advertising in traditional markets
- pivot on a dime since you can change your campaign or posts on the fly
- multiple tactics and channels help you reach just the right folks at the right time. For instance, consider the different tactics and channels used to reach different market demographics.
Upping your game in SEO is a brilliant way of ensuring your sales improve significantly as most product purchase (68%) begins on search. So, once you know your target group, use content keywords that represent users’ search intent.
You both improve your rank in search and motivate visitors to your site by providing quality content to solve their problems. Other SEO factors include providing this content on a consistent basis, gaining backlinks from other websites, engaging with users on your social platforms, and offering a superior user experience on your website and mobile, as well as other factors.
Below, see how SEO impacts your market performance by bringing more traffic to your website. Notice that most clicks are to links showing up in the #1 position on search and that clicks drop off severely after the 5th position.
7. Try influencer marketing
People want recommendations before they can buy a product and influencers have an outsized impact on providing recommendations because they have larger, more loyal communities. So, influencer marketing is your best bet to establish a good reputation and create satisfied customers. You can achieve this by using the sales software from People AI.
Also, Instagram influencers have a significant impact on the products they review. Therefore, this type of marketing is critical for increasing product exposure, which in turn leads to sales.
Adopting effective marketing strategies can feel like a daunting task. But employing smart marketing tips like the 7 I shared, helps make the task more effective and efficient.
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