Which factors to keep an eye out for and how to decide
Every brand needs a good marketing strategy, because how else are you supposed to get the word out about your business?
But while marketing in of itself is an essential part of any business, it’s important that you’re choosing the right kind of campaign to run, otherwise, you could completely miss your target audience.
For any kind of marketing strategy to be effective, it needs a solid plan. To help devise your strategy, it’s important to take the following factors into consideration so you can determine which channels are most appropriate for your business:
- Your goals
Sit down and think about what you’d like your marketing strategy to accomplish: do you want to increase the sales of your goods and services? Do you want to raise awareness on your brand? Do you want more people to sign up to your newsletter?
- Pinpoint your customer’s favorite channels
We’re all bombarded with a large influx of information and media every day. It can be hard for our brains to process everything thrown our way, and so, it is necessary for brands to know exactly how their customers behave so they know where and when to find them.
What kind of media do they consume? Which social media platforms are their favorite? When can you find them online?
Target them in the places where they’re already hanging out. If your audience is part of Gen Z for example, you’ll be sure to find them on Instagram, Youtube and possibly Twitch or Twitter.
- Communicate with your consumers throughout their journey
All businesses talk to their consumers during the beginning of their journey, but those that do follow-up are rare. This is where the magic is: follow up, and you will be rewarded.
If your brand presents targeted messaging to these customers, you’re standing out as a brand that genuinely cares for its customers’ satisfaction. Your relationship will cease to be impersonal and dry, rather it becomes friendly and intimate.
- Survey your competitors
Everyone does it: look at your competition, see which channels they’re utilizing, and copycat that on to your business. There’s simply no point in wasting time and money on trial and error when your competitors have already done it for you!
- Analyze the results
Once you’ve determined your goals, assessed which channels you’re going to use, and have taken inspiration from your competitors, all that’s left to do is test your strategy out and analyze the results from it. Take advantage of the analytics and insights, and use this data to your advantage.
In the past, brands have tested several various strategies to check their efficiency. One of the best marketing strategies for brands, especially those running loyalty programs, is the online-to-offiline (O2O) commerce.
This business strategy draws potential customers from online channels towards marking purchases in physical stores by identifying customers in the online space, such as through emails and internet advertising, then using marketing tools to entice them towards making purchases in the offline space.
For example, if you’re running a loyalty program, you can give them offers redeemable only in store. It’s a great way to keep your brick and mortar store alive, in addition to boosting omnichannel marketing!