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Key Factors for Effective Marketing Strategies
Marketing can be tricky at times, but there are certain things that will help make your marketing more effective. This posts lists them out to spell marketing so they can be easier to remember.
M – More
Do you offer more products at a higher quality than your competitors? Your customers are always looking for the best quality at the best price. If you do offer more and the quality is always high it is important to always make sure that your customers know this.
More also refers to giving your customers the best possible service that you can, which means going above and beyond for them to show them how important that they are. Giving your customers more than they would expect is also a good strategy for customer retention. If they are happy with everything about your company they will never even have to need to look elsewhere.
A – Audience
Knowing your audience is key to being an effective marketing specialist. You need to know the type of people that are buying your product, as well as the people who may eventually buy your product.
Breaking your targeted audience into different groups so you can target them with the types of products that they use will help increase sales. This data is helpful in your email marketing campaigns, direct mail campaigns, remarketing lists, as well as social media advertising.
R – ROI
Return on investment is a biggie, you do not want to be spending money that you do not have, so your marketing budget will hinge on how much you are making the company with your efforts.
It is always important to pay attention to details when it comes to how much you are spending on marketing and how much income that you are bringing in with your marketing efforts. Sometimes it is not always possible to track the effectiveness of your marketing strategies, but with analytics and other means of collecting data it is possible to see just about everything from the various outlets and platforms that you are using.
K – Knowledgeable
Having knowledge of your products is essential, especially when you never know what types of questions the customer may ask. If they stump you with a question about your products or your company it will also reflect badly on the brand as a whole.
It is important to take the time to know everything about your products, how they are made, what they are made from, as well as all of the variations of a product that you may offer.
E – Easy
Make it simple for customers to take the next step in the purchasing process, inform them of how much easier life will be with your product or service. When you make things difficult and time consuming for your customers then you probably will not be keeping them as a customer.
If you sell mainly through your website and the ordering process is cumbersome and wastes their time then they may not even finish placing the order. In every aspect of marketing and selling you need to make it as easy as possible for the consumer to find the product so they can purchase.
To do this properly the whole process should be very simple and to the point.
T – Timing
Timing is something else that always needs to be paid attention to. Though timing may mean different things to different people on your team. For your production team timing is how long it takes them to turn around an order.
When it comes to marketing you need to know the best times to catch your customers when targeting them with ads. This comes in to play even with your social media platforms. There are certain times to post that are busier than others. Finding the ideal time is necessary, but it can also get tricky when you take different time zones into account.
Timing must also be taken into account if you see certain products sell better during specific seasons. For a company that sells a product that is popular around a certain holiday you need to plan for this. When planning it you need to take into account when you should begin and end a campaign in order for them to be aware of it in advance.
I – Instant
Consumers in the modern era have little to know patience. They want everything right now, but that’s not always possible. Instant gratification is something that consumers have started to expect since the internet has made buying and selling much more convenient.
In most niches it is near impossible to deliver a product instantly unless it can be downloaded. Even though instant is not possible in most cases, it is still important to get the order to the customer as soon as possible. Consumers are the ones in charge of what they buy and where they buy it, so making it convenient for them to buy and getting it sent out as quickly as possible will help keep your customers loyal.
N – Niche
Something else that you need to know which is tied with your audience is the niche, or space, that you work in. For B2B you need to know all of the different types of companies that make up the niche you are in, as well as the niches that need what you have to offer.
When it comes to marketing it is important to network within your niche, as well as with related niches. This can be done by communicating with other people from your niche online, at trade shows, conferences, and anything else that will have a gathering of people in your niche.
G – Guarantee
Giving your customers some kind of a guarantee will help to minimize risk perception, and it gives your customers the feeling that they have a lot to gain and nothing to lose when dealing with your company. It does not matter what the guarantee is, as long as it benefits them in some way. Many times they will become fixated on that guarantee and other minor details that they dislike will be forgotten.