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What Is a Good Marketing Strategy

Good marketing strategies and techniques revolve around the target audience for a product or service. People who want to sell their products must provide value and usefulness. By creating an emotional response in customers, they can eventually be persuaded to buy the product. What Is a Good Marketing Strategy

Marketing is one of the keys to success when it comes to business, but many people are unsure of what constitutes a good marketing strategy. This article will analyze different aspects of marketing in order to propose some of the most effective marketing strategies possible.   

Powerful Marketing Strategies To Grow Your Business Faster

All small businesses want a low-budget marketing plan. The problem, however, is determining which of the successful small business marketing strategies offer the highest ROI.

That’s why we are sharing a list of high-ROI marketing strategies that you can and should steal from the industry today.

Set a Goal and a Budget

set-goal

Every business needs a direction. Every marketing campaign needs to start with a goal and a budget.

This is perhaps the only free marketing strategy in the world.

Without a goal and a budget, it becomes exceptionally difficult to determine whether or not your campaign was successful.

Plus, according to CoSchedule’s roundup of 2018 marketing statistics, marketers that set goals for their campaigns are 429% more likely to report success.

As Forbes contributor Jayson DeMers says, this makes sense because:

“Goal-setting eliminates subjective perceptions of reality, making success objectively measurable. In that context, success isn’t a vague idea; it becomes demonstrable.”

Let’s take a look at a few tips for setting your marketing campaign goal and budget:

  • Choose 1-5 KPIs to measure. The most popular KPIs to measure include qualified leads, traffic, and direct revenue.
  • Set a realistic budget. The U.S. Small Business Administration recommends that you spend 7-8% of total revenue on your marketing campaigns.
  • Focus on the process, not the goal. Once your goal is set, create a process for achieving it and use your KPIs to measure and continually improve that process.

Build Your Influence

The most successful marketing campaigns help you achieve the highest ROI. Once you build your influence, you can use many more powerful marketing strategies.

With influencer marketing delivering ROI as high as $6.50 for every $1 spent, it’s quickly become one of the most effective marketing strategies for a small business.

This explains why influencers are finding their way into many social media promotional strategies used by small businesses.

To create a successful influencer marketing campaign, Entrepreneur contributor Murray Newlands recommends the following steps:

  1. Select your KPIs
  2. Focus on the social media channels where your target market is most present
  3. Find a credible influencer
  4. Plan your publishing schedule
  5. Consistently improve and measure your outcomes

Champion One Social Channel

With the undeniable potential of social media marketing as a small business marketing strategy, it can be tempting to try and find success on as many social platforms as possible.

But, as marketing guru Neil Patel tells us, it’s best to focus on one social channel at a time:

“Jumping in head first and attempting to manage, say, four or five different channels can be overwhelming, and you’re unlikely to kill it at any strategy. Even if you’re a savvy marketer, you simply can’t devote the necessary time to extract the full potential of any single channel.”

To become a champion of one social channel, the team at Social Media Marketo recommends a 12-step process:

best marketing strategies

Build Rapport through Email

With 59% of marketers claiming that email is their most effective marketing channel for revenue generation, this is one strategy that you don’t want to ignore.

If you haven’t started building your email list, Social Triggers founder Derek Halpern recommends a few tips for getting started:

  • Create a long-term content strategy to drive organic traffic to your website
  • Create multiple opt-in offers
  • Utilize an email list popup form
  • Add a banner with an invitation to subscribe to your email list to your business signature.

You can use tools like Designhill email signature generator to create a professional email sign-off with links, banners, and call-to-actions.

Blog Strategically

When done correctly, starting a blog is one of the absolute best ways to drive targeted traffic to your website.

In fact, marketers that effectively utilize blogs tend to get 67% more leads than those that do not. But that’s only if you’re doing it right.

To succeed with blogging, you should:

  • Find your niche. Choosing a niche is one of the hardest, but most important, considerations before you start a blog.
  • Focus on quality over quantity. One long-form, comprehensive post (1,500+ words) is worth 5x a brief, non-informative post.
  • Develop a promotion strategy before writing. Many expert content marketers recommend spending 20% of your time on content creation and 80% on promotion.
  • Create evergreen content. When you create evergreen content (and update that content when necessary), your content assets compound their impact over time.
  • Use photo editing tools like Instasize to curate your content.

Conduct Research That Impacts Your SEO

With 70-80% of modern-day consumers ignoring ads altogether, ranking for targeted keywords has never been more important.

To rank in SERPs for keywords that can drive high-quality leads, there are a few simple tips that you should follow:

  • Focus on low-competition, long-tail keywords. If you own a wedding business, you’re not going to compete with David’s Bridal for the keyword “wedding dress.” Instead, you should focus your efforts on low-competition, long-tail keywords that are relevant to your audience.
  • Utilize tools like SEMRush or KWFinder. While it may be tempting to use Google’s Keyword Planner, it’s been proven that they hide many low-competition keywords in an effort to increase ad spend. Tools like SEMRush and/or KWFinder make it incredibly easy to find high-ROI keywords that can drive high-quality leads to your website.

The Components of a Good Marketing Strategy

Target Audience

Who are you trying to reach through your marketing efforts? Who falls into the category defined as the perfect customer? This is the first step in every marketing strategy: identify your target audience. This doesn’t mean you’ll ignore potential buyers who don’t fit into the criteria you set at this stage. Everyone interested in your products and services will still be able to get them, but you should definitely narrow your marketing efforts to the category of people you are most likely to attract.

Levi’s, for example, aims to attract young, vibrant people who love the mix of modern and classic. That’s the customer their whole marketing strategy is focused on.Marketing Strategy

photo credit: Levi’s Instagram Profile

When you identify the interests of your target customer, you’ll adjust the overall style of your marketing strategy in a way that suits this category of users. You’ll create the perfect TV ads, you’ll write blog posts in a language they understand, and you’ll easily connect with them via social media.

Awareness

The ultimate goal of any business is to gain more trust with current clients and achieve better brand awareness among the target audience. Some of the classic ways to boost awareness for your brand include advertising (TV, newspapers, magazines, and online) and word of mouth. These tactics are not outdated as many contemporary marketers think. You should still consider them as part of your content marketing strategy.Marketing Strategy

photo credit: Newsworks

In the current market conditions, the concept of building brand awareness is mostly determined through online marketing techniques. This means that your business needs a website, as well as a blog where you will post high-quality articles related to your niches. Videos, podcasts, infographics, images, and presentations are also important. Visual and audio content creates lasting impressions.

Unique Advantages

Your brand has to offer a unique advantage if you want your target audience to choose it over competitors’ offers. What are the main things that distinguish your product/service from the similar offer on the market? If you cannot identify such advantages, you better think of them as soon as possible. Then, you’ll focus your marketing strategy on promoting them.

If, for example, you’re promoting new photo editing software, you’ll face huge competition and you’ll have to attract the audience with unique features. The customer wants effectiveness, speed, a great choice of filters and editing options, and a unique flair that will make the photos different from the mainstream trends. If the description of your offer gets the attention of your target audience, you’ll be one step closer to achieving the goals of your marketing campaign.

Don’t make things too complicated. Elaborate commercials are annoying and counterproductive. You need to identify one or two things that make you different and promote them as much as possible. Is your product cheaper and better than everything else on the market? Well, that’s all your potential clients need.

Communication with Your Clients

It’s important to know when and how to communicate with your audience. You cannot simply create social media profiles and use them whenever you have time for them. The connection you develop with your customers is a key aspect of the success of your marketing strategy. Social media is certainly important, but you have to use it strategically. Consider paid advertising on Facebook, Twitter, and other platforms. These ads will be featured in front of a huge audience, so you’ll easily attract a base of followers with this method.

Marketing Strategy

When you obtain a decent number of followers, you’ll need to maintain successful communication with them. Don’t make it all about your business. You’ll certainly promote your products and services as the best choice on the market, but you should focus your attention on the needs and wants of your followers. Identify the problems they have and show how your business is a proper solution.

Monitor the activity of your audience and make sure to publish updates during traffic peak times!

 Activities

Okay, you identified your target audience, you started building brand awareness, you have a unique offer and you understood the importance of proper communication. Now you’re left with one factor that connects all previous elements of a good marketing strategy whether you go DIY or hire a marketing agency.

You need to inform your target audience about the advantages of your business through a series of activities that include advertising, online presence, seminars, webinars, promotions, giveaways, interviews, and other smart ways of using media. Each and every action you take must maintain the relation with your marketing strategy.

Conclusion

A good marketing strategy is a plan of action a company takes to move a product from the production stage to the consumer stage. Companies must have a good marketing strategy so they can price, package, and promote their products well enough to sell them profitably.

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