Having a strong digital presence is essential for both brand new and established businesses. That’s because most consumers prefer learning about local businesses online. In fact, about 70% of shoppers have stated how important the ability to shop in-person or online is for them when deciding to make a purchase.
However, establishing a digital presence isn’t the be-all-end-all of marketing, as that presence has to be optimized for it to impact a company’s bottom line. Since marketing is used to improve a company’s brand awareness and turn the qualified leads into paying customers, new businesses might find it difficult or complicated.
This can be due to a multitude of reasons, ranging from lack of resources to a lack of visibility. Fortunately, there are some basic and vital strategies that any business can utilize from the very beginning.
The first step in establishing a marketing strategy is understanding the target audience. However, promoting the company’s value proposition to that audience is just as important.
For example, if the target audience is mainly using social media platforms such as Instagram, promoting the company’s products or services isn’t going to work if it’s done on YouTube. That’s why these two things are crucial in increasing a company’s reach and brand awareness. Furthermore, the potential customers should know and understand why the company’s products or services are better than the rest, as a way to convince them to make a purchase.
Short-term and long-term goals and efforts
There are plenty of directions that businesses can go in when it comes to marketing strategies, and as compelling as it might be to try everything, it can quickly become unnecessarily complicated. What small businesses should be doing instead is identifying the biggest impact of a strategy, and then focus all resources on marketing efforts in that area.
Knowing and understanding the short- and long-term goals for the bottom line of the business is what’s going to impact the marketing efforts. It’s essential to start small, because as the business grows, so will the ROI, as well as the potential marketing efforts. This way, companies can invest in sustainable marketing and growth efforts without stretching themselves too thin.
Metrics and measurements
Throughout all marketing efforts, companies should be keeping track of what is and isn’t working with their marketing strategies. That way, they’ll be able to adjust the campaigns accordingly and put more effort into what’s already working. However, without metrics and analytics, it’s impossible to know which strategies are really working, and what’s getting potential leads to convert.
Businesses can learn this information and data by following what the existing customers are doing. These are people that already know, trust, and like the business and its products or services. Understanding what got them over the edge to finally make a purchase, as well as mapping out their entire buying journeys are just two of the many ways that companies can get more information, and implement that data into other marketing efforts.