With the virtualization of the world, marketing has changed and shifted. As business owners we need to make sure we are constantly adapting with the changes to make sure our marketing gets us the massive results we are looking for. Without making the proper adaptations to your business, it may be hard for your business to help itself stand out to your audience among your competitors. Here are six key tips to focus on to build a strong marketing strategy.
1) Marketing is Necessary
Marketing must happen. If you aren’t focusing on marketing as a business owner, then you are essentially killing your business. Marketing is the lifeblood of any business. Many business owners think that their business will be able to survive from word-of-mouth or people finding their business. This is not true as marketing should be a large focus. Without a proper marketing plan, it would be difficult for customers to know what your business is offering.
2) Marketing is an Investment
Marketing is an investment, not an expense to your business. Many businesses make financial decisions only paying necessary expenses but neglecting the necessary investments to improve their business. An effective marketing plan will help your business grow at a much faster rate. All of the money that you spend on marketing will eventually made back by your business as a return on investment. For example, if you spend $1000 on a marketing advertisement and that advertisement attracts 10 different customers to spend $200 on your business, you can conclude that you had a return on investment of 100%.
3) Emotional Marketing
Marketing has shifted emotionally in the marketplace. You should shift your marketing to be more empathetic and sympathetic. Being that we are going through a pandemic and current event, there is a lot of uncertainty in the world. So, it is important for businesses to address these concerns and show their audience that they care how they are feeling. The fear, worry and doubt should all be a part of your consideration when developing your marketing message to your customer base. If your brand isn’t showing empathy to your customers and audience for what they may be going through, then you are slowly losing your business.
4) Digital Marketing
It has become more important for proper digital marketing than ever before. It is almost expected by customers to have a complete website detailing the products they are looking for. Many customers nowadays research potential products or services online so having a website and social media platforms will not only make research on your business much easier, but it will also make you look much more credible. For example, potential customers can look up your website and find high-quality photographs of all the products and services that you offer. People expect to see testimonials and reviews of your products and services. If the customer can’t find all the information they are looking for on your website, they will easily find a different business that already does.
5) Focusing on Returning Customers
How much energy are you putting into return customers? Many businesses solely focus on getting new customers as their primary source of revenue. However, returning customers should be a priority for your business. You should be putting a large focus on customer retention and creating long lasting relationships with your previous customers. Building a sense of trust with your customers will have them spend potentially more money than newer customers and cost much less when marketing towards them. Providing excellent customer service and implementing customer loyalty programs is a great way to keep current customers to continue visiting your store. Additionally, being that word-of-mouth- recommendations are one of the best ways to marketing your business, loyal customers will be sure to recommend your business to their friends and family.
6) Get Your Customers to “Raise Their Hand”
Finally, marketing is about getting potential customers to “Raise Their Hand”. Marketing should primarily be focused on getting potential customers to show that they are interested in buying from you I the future. Typically, only a small portion of your actual customer base are ready to make purchases right now while the large majority will be ready to buy from you at some point in the future. When your prospects “raise their hand” and show that they’re interested, it is the marketer’s job to keep in communication with them until they are ready to buy. If we don’t stay in communication with them and help convince them to buy our products consistently then we may potentially lose their business if they become uninterested or find a new product.
As a marketer you must constantly be aware of how the marketplace is changing and make sure you are actively making the changes to make sure your marketing strategy is working. Click here to watch Brad’s Drive Time to learn more.