Entrepreneurs, start-ups, and companies of all sizes seek ways to market their products and services. Marketing can be highly effective in finding new customers, but a lot of low-quality or old information is circulating around. In this article, you will learn seven exciting strategies that you can use to enhance your marketing efforts and ultimately increase revenue.
Partner With An Agency
Although this isn’t a strategy per se, it’s worth mentioning as an agency can cover all your marketing needs, allowing you to focus on building your business. A marketing agency is a company that provides services to companies and organizations to help them with their marketing needs. Marketing agencies can specialize in a specific service or area or offer many different services. Among the most commonly provided services are:
- Overall strategy advice
- Content marketing (research, writing, and promotion)
- Email marketing
- Graphic Designing
- Advertising (PPC, display, social, etc.)
- Search engine optimization (SEO is a complex field that sometimes necessitates hiring an expert)
- Website optimization
There are more things that an agency can assist you with, but this will depend heavily on what kind of business you run and who your target demographic is. According to the team behind the leading marketing agency, there is no perfect marketing solution as each business requires something different. Therefore, you should select an agency that fits your specifications and is flexible enough to adapt to your business.
Factors Before Choosing a Marketing Agency
Before choosing a marketing agency to work with, you should consider several factors:
- Your budget: As a business, a budget will factor into every decision you make. However, you should avoid the cheapest option and set aside a large enough budget to cover the cost. While it isn’t always the case, it generally holds that the most inexpensive options cannot deliver the desired outcomes. They will need more workforce or budget to see large marketing campaigns. However, you should get quotes from several agencies and see which is the best fit.
- Your goals: Most digital marketing companies specialize in one or two areas. While many offer full service, they prefer to work on projects that fall within the spheres of their expertise. Finding the perfect digital marketing company begins with knowing your aims and what you hope to accomplish by working with them.
- Their portfolio: A marketing agency’s portfolio reflects the quality of their work and will give you a sense of the agency’s capabilities and work ethic. Before hiring an agency, it is crucial to look through their past projects and see how they have dealt with similar projects.
- Recommendations: There are many marketing agencies out there, and it can take time to decide which one to choose. One way of deciding is by checking if they have been recommended by someone you trust or if they have a good reputation online.
- How confident they are in their ability: While confidence is a boon in this industry, overconfidence or overpromising results could be a recipe for disaster.
- How they work: Many of the best marketing companies will provide an initial consultation stage so that both parties can see if they sync. Use this opportunity to see how and if your methods work well together.
Utilize More Social Media Channels
There is no argument that social media has taken over the world and the attention of anyone with a smartphone. It is the most popular and fastest-growing form of digital marketing and has become an integral part of modern marketing strategy. The rise in popularity of social media has led to an increase in the number of people using social media as a form of communication. Although it might not seem possible, the number is expected to grow exponentially over the next few years, so marketers will have to start using it more than ever before if they want their businesses to succeed online.
However, due to the proliferation of different channels, you must work out which suits your industry and target market best. While you should still focus on Facebook thanks to its ubiquity and features (especially advertising), you might want to branch out to others like Twitter, LinkedIn, or even TikTok if that’s where your market hangs out.
Take Advantage Of Technology
The most beneficial tech revolves around automation and analytics regarding technology and marketing.
1. Automation
Marketing automation automates repetitive and laborious tasks to reduce time spent on such tasks and increase efficiency. Marketing automation software manages and coordinates marketing tasks such as lead management, email marketing, social media, and other digital marketing channels. Automation can also help organizations determine the most effective channels for their business.
2. Analytics
Marketing analytics is the process of collecting and analyzing data to help measure marketing performance. It’s a way for companies to learn more about their customers, get more efficient targeting of them, and create more effective campaigns. If you dig technology, you can even automate your analytics!
Don’t Forget The Old School Techniques
Marketing is familiar and has been around in its modern guise for decades (Mad Men, anyone). However, because the landscape keeps shifting, it can be easy to forget that some old methods still work. For example, while many modern businesses have their gaze firmly focused on social media or churning out videos, they need to remember that old-school techniques like email marketing still perform fantastically. Some other old-school methods include:
- Visiting trade events
- Physical advertising
- Getting ad copy on point
- Local advertising (radio, billboards, TV)
- Product placement
Network In The Right Circles
Networking is an integral part of marketing because it is a way to connect with others in the industry, build professional relationships, and learn about new opportunities. It also helps to create an excellent first impression. Networking can be done in many different ways. It can be done through social media or by attending events or conferences. If you haven’t already, add networking to your marketing toolbox to reap the benefits that come from it.
Set Aside A Healthy Advertising Budget
As you might have noticed, this post mentions advertising several times. This is because it plays such a prominent role in almost all marketing campaigns. Advertising is necessary for any business because it helps brands reach their target audience and drives sales for companies. It delivers messages to the public, especially by mass media, to persuade them to purchase products or services.
The advertising industry has been growing over the years, and it has become one of the most profitable industries in the world. Even with the inevitable drop in ad spend throughout the COVID-19 pandemic, the industry looks set to increase to over one trillion Dollars by 2026! But how can you take advantage of this advertising revolution and use it to your advantage? The first step is to choose your advertising medium. In this regard, you have plenty of choices, including:
- TV
- Radio
- Digital
- Google AdWords
- Microsoft Ads
- Facebook Ads
- Twitter Ads
- LinkedIn ads
- Various ad exchanges
- Influencer
What option you select will be heavily influenced by how you operate your business and what you hope to accomplish. Moreover, your budget will play a significant role in determining which channels you will find most profitable. For example, digital advertising offers the best results in terms of ROI but can turn into a money pit if you need help using these channels effectively.
Get In On The Visual Media Revolution
Visual media is essential in marketing because it can tell a story, convey a message, and emotionally connect with the audience. The best part is that you can often convert existing content from your website and use it in various ways.
1. Infographics
Although this form of media is less popular than a few years ago, it can still be an excellent tool to simplify complex information. Infographics are a visual representation of data and are usually used to break down complicated topics into more straightforward, digestible pieces. An infographic contains information in text, diagrams, or other illustrations. Infographics typically present complex information in a way that makes it easier to understand.
2. Video
As more and more people turn to video to consume information, you must keep up with the trend by creating your own videos. Video marketing has grown in popularity as a method of communication, and many companies now use it to market products and services. There are many benefits to using video for marketing purposes. Some examples include:
- Video can be more engaging than other forms of content because the viewer’s senses are stimulated more when they watch a video.
- Video can be more memorable than other forms of content because people will remember what they have seen, heard, and felt while watching a video.
- Video can convey complex messages or concepts in a way that text cannot match.
Marketing is a crucial element in making your business succeed. The more streamlined and efficient the marketing efforts, the more successful your business will be. You should find your marketing efforts to reach new highs by using some or all of the techniques suggested in the post.
FAQs
What is the 7ps marketing mix and how should it be used?
The 7Ps marketing mix is an extension of the traditional 4Ps (Product, Price, Place, and Promotion) marketing mix, designed to better suit service-based businesses. It adds three more elements to the mix to address the unique characteristics of services. Here’s an explanation of the 7Ps and how they should be used:
- Product: This represents the service or product you offer. It’s about defining what you’re providing to your customers and understanding how it fulfills their needs and wants.
- Price: Price involves setting the right cost for your service. It should consider what customers are willing to pay while ensuring you cover your costs and make a profit.
- Place: Place refers to the distribution and availability of your service. It includes selecting the right channels and locations to make your service accessible to your target audience.
- Promotion: Promotion is all about how you market and advertise your service to attract customers. It includes advertising, public relations, social media, and any other tactics to create awareness and interest.
- People: This element emphasizes the significance of the people who deliver and receive the service. It involves having skilled, friendly, and knowledgeable staff who can provide excellent customer service.
- Process: The process aspect involves designing efficient and effective processes for delivering your service. It ensures that the customer experience is smooth and hassle-free.
- Physical Evidence: Physical evidence refers to the tangible aspects of the service. It includes the physical environment, equipment, and any other materials that support the service delivery.
How to Use the 7Ps Marketing Mix:
- Understand Your Customers: Begin by thoroughly understanding your target audience and their needs. This understanding is crucial for shaping all the other Ps.
- Product and Price Alignment: Ensure that the product or service you offer aligns with the price you’re charging. The perceived value should justify the cost.
- Choose the Right Channels: For “Place,” select the most effective distribution channels and locations to make your service easily accessible to your customers.
- Effective Promotion: Craft a comprehensive promotion strategy that uses various marketing channels to reach your target audience and create awareness.
- Invest in Your People: Hire and train your staff to provide top-notch customer service. Happy and skilled employees can significantly impact the customer experience.
- Streamline Processes: Review and optimize your service delivery processes to ensure they are efficient and customer-friendly.
- Enhance Physical Evidence: Create a pleasant and appealing physical environment, and provide any necessary tools or materials that support your service.
Using the 7Ps marketing mix allows businesses, especially service-based ones, to create a well-rounded and customer-focused marketing strategy. It ensures that all aspects of the service, from its development to delivery, are aligned with the needs and expectations of the target audience.
