5 Takeaways From Common Marketing Oversights
Marketing initiatives are essential for any company that's looking to expand, stay relevant or simply generate profits. All aspects of marketing are in one way or another communication tools that allow you to reach your audience and deliver a certain message. If your business wants to inform the customer that your brand’s product or service can fulfill their needs, you need marketing.
A lot of the time, companies facing problems accomplishing their goals have marketing efforts in place that lack the proper fundamentals and are set up for failure from the start. When developing the right strategic approach for your brand, it’s important to understand the importance of the following essential guidelines so that you can build out a cohesive and effective marketing plan from the very beginning of any marketing initiative.
1. Set Goals
What is the goal of your marketing project? Is it to increase conversions by 20 percent? Decrease your bounce rate by 10 percent? Increase clickthrough rate by 5 percent? Whether you’re a B-to-B or a B-to-C, and regardless of the industry your company is part of, setting realistic goals is incredibly necessary.
From small start-up businesses, to larger enterprises, choosing to not set defined goals can be damaging to your success. Without goals there is no way to understand performance and to identify areas that need improvement. Google Analytics makes it quite simple to view your KPIs so you can then use your findings to make educated decisions as to what channels might need to be amplified, or which platforms may need fewer resources allocated to them. If you have no goals outlined from the beginning of your marketing strategy, you cannot make reasonable assessments about your accomplishments.
2. Drive Traffic Back to Your Site a Second Time
Generally speaking, customers do their research before they convert. Whether they’re buying a pair of boots, or requesting a quote for software services, it’s more likely than not that they shop around. For that reason, it’s very worthwhile to make sure that a significant portion of your marketing initiatives are dedicated to reaching those that are already familiar with your brand.
Capture email addresses with a newsletter sign up or by enticing customers with exclusive promotions when they register for your mailing list. Since these visitors have already expressed interest in your brand, implement an email marketing campaign so that you can serve them with relevant emails in the hopes of bringing them back to your website once again.
Stay top of mind with consumers by using retargeting ads, which allows you to serve banner ads to users that have already visited your site once before and are now on a different site. Reinforcing your brand and making sure that the potential customer is reminded of who you are is essential to helping them convert. While attracting the user to your website initially is of crucial, making sure they return a second time is also a key part of generating as much revenue as possible.
3. Marketing Is an Investment
Long term marketing successes require resources — whether they are time or money. You can’t expect to have big wins and consistently perform well as a business with unrealistic expectations. Simply put, garnering massive results instantaneously and without much effort is close to impossible if you aren’t willing to put in the effort.
The common phrase, “you have to spend money to make money” holds true. A lot of businesses either don’t understand this concept, or think that it doesn’t apply to their own company. For your marketing efforts to work you need to allow time for a certain channel or platform to perform. Basing decisions surrounding how effective or ineffective a certain campaign or channel is for your business shouldn’t be made lightly. To best measure what has been working for your brand, you need to give it time. While that can be costly, if you’re trying to garner more leads or conversions, it’s essential to grasp the idea that marketing is an investment.
You may be spending a lot with seemingly no return, however, over time nurturing the audience and building a relationship is often just what it takes to move them down the buyer funnel. Once you generate a sale, the profit you’ll make from that should be able to compensate your efforts, and lead to a stronger ROI after all is said and done.