It’s no secret that marketing is one of the most effective ways to make more sales. Your company can live or die depending on the state of your marketing, as a strong marketing strategy can keep your profits and cash flow high. On the other hand, neglecting your marketing or going down the wrong path can cripple your business.
With that in mind, here are some tips to help you to rejuvenate your marketing techniques.
Marketing To Your Audience
Marketing is often designed to constantly find new customers. This is undeniably a good thing, more customers mean that more people can buy your products and spread the word about your business. The goal is usually to reach further and further.
However, this can lead to some mistakes. One major issue with being blinkered onto this goal is that it can lead to a muddy marketing strategy. If you try to reach every customer, then you risk alienating your core customer base who are most likely to buy from you.
Marketing campaigns are at their most effective when they’re designed for certain customers. Think of it as a wide net with holes that are too large. You’ll reach more people, but you’ll bring in far fewer actual customers.
If you do plan to widen your niche and appeal to more or different customers, then take care with this. Do your market research before jumping into any strategy or rebranding and make sure that the potential reward will outweigh the risk.
Marketing to Existing Customers
If your marketing campaigns are only designed to bring in new customers, then you’re missing a major opportunity. Your existing customers are far easier to reach and more likely to return, as long as you give them a reason to.
Customer retention means turning one-time customers into regular and loyal customers who provide repeat business. Create special campaigns for these existing customers, such as loyalty rewards and discounts for certain purchases or periods of time. Look after your customers and they will look after you.
These marketing strategies are often cheaper than marketing to new customers because you know what works. You’ve already reached these people once. Even better, you likely have the option to contact them more personally via email or post, so you know that they will see your campaign.
Digital marketing is currently the gold standard for reaching customers, but it can be difficult to get into. Marketing experts like Joey Armstrong can provide you with effective and pointed advice to help you to take advantage of this tool.
On a more general note, digital marketing requires having a digital presence. Even small businesses are moving online, whether via an eCommerce website or at least via social media. This helps customers to easily find them, and vice versa.
A firm online presence requires being able to use SEO effectively and follow social media trends so that it’s easier to reach as many people as possible. The same principle of marketing to an audience applies.