Businesses these days spend 12 percent of their annual revenue on marketing efforts. That is because a marketing strategy that is thoroughly planned is essential for gaining benefits beyond the marketing department. In today’s world, marketers need to be proactive and vigilant enough to incorporate new methods and skills in their playbook to keep up with the fast-changing needs and demands of the business world.
You can have the best product or survive in the world, but if nobody knows about it except you then your product shouldn’t even exist in the first place. Having a product or service means nothing if it’s not reaching the target audience. And how do you make sure that it does? By using effective marketing strategies.
I understand that every organization’s marketing strategies are unique, and they should be since every individual business is unique, but there are still some basic marketing dos and don’ts that business owners and entrepreneurs should stick to.
Do develop a marketing strategy
It sounds pretty simple yet most businesses fail to follow through with this very critical step. Like they say, failing to plan means planning for failure, so make sure to spend time developing and documenting your strategy.
Don’t mimic your competitors
It is actually quite easy to get tempted into doing what your biggest competitors are doing. Don’t fall into this trap at any cost. You should focus on being original, and have fresh ideas that make your brand stand out.
Do consider your customer’s needs
Your marketing plan should address the issues and pain points of your target audience. It should be centered around the preferences of your customers, not just your product or service. Make sure you do relevant research so that you are familiar with their needs and wants.
Don’t forget to research your target market
Having an understanding of your industry, demographics, and competition is quite essential. Knowing who and what performs well and what does not, and how it’ll influence your marketing plan will save time and money. Also, don’t ignore the importance of product knowledge. It’ll allow you to know your standing in the market, and you’ll be able to pinpoint what’s different about your service or product, helping you engage more audience.
Do create relevant content
The content you create needs to be relevant to the audience you are targeting as well as your brand. It’s a given that when your content will be relevant to your customer’s preferences, you’ll have authenticity and authority in your market.
Don’t just rely on product-centered growth
The excitement you have around your product is understandable, but remember that your product is not going to sell on its own. Understanding buyer behavior and learning how it plays a part in product adoption is all too necessary. Initially, your product might be able to attract the first thousand customers, but going the extra mile to keep them will ensure the growth and expansion of your business.
Do have a strong media marketing strategy
Social media has so much impact on our lives that it has become a necessity for a business to have a social presence. And to have an established presence, utilizing social media management systems is a must. The main aim of these systems is to help your business gain followers and increase engagement. Since there are a variety of systems that offer services of that sort, make sure to choose that which caters to your needs the most.
Don’t expect immediate results
Marketing is more like a test cricket match than a one-day international. It is a long-term commitment that requires a lot of patience and perseverance. To achieve lasting and sustainable results, you need to plan effectively.
Marketing is everything these days. It should not be taken lightly, because it can make or break your business.