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Marketing is an essential part of a business, and some aspects of it are crucial for success. Today we’ll look at four aspects of marketing that can increase your chances of success when understood. Let’s jump right in.
1. Know the ‘Why’
Why should people choose your brand over the competition?
There are two primary reasons why consumers pick a brand over another. These are price and difference. Let’s take a look at each.
‘Cheap’ can sell products, but making your offerings cheaper than everybody else is a tough long-term strategy. Not every company can sustainably pull that off.
Successfully competing on price requires strong, reliable industry connections to help keep your costs low while also turning a healthy profit. Walmart is an example of a business doing that well.
Differentiating your company is more sustainable.
Think about the features plus stories that make your products unique and tie them to real benefits. Then figure out which segments of the marketplace will value them.
You’ll need to know where the audience hangs out, and devise a plan to reach them affordably.
Here are some examples.
- Start blogging and promoting the content (you’ll need a website).
- Run Facebook ad campaigns.
- Live stream on YouTube and other social networks.
- Offer useful tools as free downloads to the target audience.
- Storytelling; use relevant forums and other websites to share stories.
- Create and manage a LinkedIn or Facebook group.
When you understand the ‘why’ behind your product, it’s easier to craft messages that can resonate with target customers.
2. Focus on Audience
Customers spend more time searching for other things than they do your products. That’s why focusing on the audience to inform marketing is essential. When you focus on audience needs, people pay greater attention to your brand.
You’ll have to learn about your customers and base marketing actions on real audience desires. Start with a sentence like ‘my customers are X” and then identify the following information through research.
- Demographics data
- Age information
- Gender distribution
- Roles or job titles
- Pain points or challenges
- Communication preferences or tools
- And more
3. Understand the Entire Customer Journey
The customer journey refers to every experience a person has with your business. That includes the steps or processes that consumers take from discovery to obtaining your product.
Mapping out the customer journey can help you gain a greater understanding of the audience and uncover issues that may be hindering sales. You can get a better view of customer interactions throughout various touchpoints.
Here’s an example of a customer journey map.
Whatever combination of marketing tactics you use, remain consistent.
At first, it may seem like your marketing efforts aren’t working. However, that’s the nature of advertising – it’s a snowball effect.
You pick up momentum as you apply strategies. But if you stop marketing, you’ll probably have to start over because all the momentum you’ve built up can be lost.
Consider how much you can spend on marketing consistently without it being a burden. Then pick out several marketing tactics you can employ using that budget every month. The smaller your budget, the more creative you’ll need to be with marketing.
Marketing is an Investment
No doubt, understanding these critical aspects of marketing will improve your chances of success. They can help you confidently reach and communicate with your target customers. So, know why someone would buy your product, focus on the audience, get involved with the customer journey, and stay consistent.
Lastly, view marketing as an investment to get the most out of it. People who stop marketing early don’t have that mindset. Good luck.
Last Updated on July 11, 2020