Marketing is changing. The channels through which you establish your brand have evolved. A modern business requires modern marketing strategies that are driven by data as opposed to instinct. In this post, we have curated some of the most paradigm-changing marketing strategies advocated by the best marketers from around the world. We will also give you the numbers that attest to the effectiveness of these strategies. So, read on, and happy marketing.
Setting a goal and a budget
That sounds awfully obvious, right? Of course, you would have some goals and an idea of the cost achieving those goals might incur. You would be surprised to know how many marketing teams around the world actually move forward without a long-term KPI-based goal.
A study reveals that marketers who set a specific goal for their campaigns have 429% higher chances of success than those who do not.
How can you determine marketing success and whether you are moving towards your goal?
- Identify KPIs like qualified leads, traffic, and revenue and measure them.
- Set a budget that is realistic for you. Ideally, it should be 7-8% of your business’ revenue.
- Build a process and improve it periodically based on the KPIs.
Influencer marketing has yielded the highest ROI, more than 500% in recent times. It makes a lot of sense to connect with an already-established influencer to promote your brand. Another effective and even cheaper way of achieving this is to back an employee or a few of them to spend time on building influence on various channels and leverage their growth to market your brand. This is quickly becoming one of the most effective marketing strategies, especially for smaller businesses.
Also read – 7 Startup Ideas That Could Actually Work in 2023
Focused social media marketing
It is hard to resist the temptation of building enormous followerships in multiple social media channels, but it is even harder to actually manage to do that and realize the potential of each channel. The point is, it is a good idea to identify the channels where your target audience is actually located. Based on your business and the kind of audiences you are trying to reach, the channels you should focus on keep changing. If you are, for example, a marketing consultant, your audience is probably sitting on LinkedIn, so it would make little sense for you to focus a lot of energy on Facebook. Similarly, if you are trying to sell, say customized jewelry, Instagram may be your jam. It is vital that you identify the right channel and laser-focus your attention on it.
In this case, too, you need to keep measuring certain KPIs and modify your strategy based on the observed changes.
Do not forget email marketing
With so much focus on influencer and social media marketing, it seems a lot of people have sort of abandoned good old email. But if you talk to pro marketers, 59% of them will tell you that email is still the most effective channel.
How can you leverage the email medium for your business?
You can target two types of customers with email. One, new potential customers through cold emails and the existing customers with engaging content.
You can create useful content that is relevant to your user and deliver it to them as newsletters, just to keep them engaged and in the loop with your business.
As far as new leads go, get an email list, and create a banner that asks people for their email ID in exchange for some useful content. Use all of it to create a solid brand image.
You have to be careful with email drips so as not to overdo it. It’s important to keep a significant gap between two bouts of communication and every time you send a mail to someone make sure it means something to the recipient.
Blogs + Vlogs
Your blog posts create great value in terms of helping you climb up the search engine results page (SERP). However, it is very easy to fall prey to the idea of putting quantity above quality. While you want to please the search engine crawlers, you also want to engage your audience. After all, if your audience bounces right off your blog, it can’t be good for your ranks nor for your brand.
Find your niche, write long-form, truly informative articles, and throw the odd video in and see what happens. The audio-visual mode of interaction is becoming more and more relevant, so it’s better to dig into that.
More than anything else, your marketing strategy should be flexible. It should not be rigid to the point where you can’t evolve even after hitting a dead end. Other than that, create content with the spirit of teaching and not selling, be generous about the knowledge you share, and engage your customers with meaningful communication.