Not all marketing channels will be the best fit for your business. When your time and money are on the line, you’ll want to find a suitable platform that will enable you to reach your goals.
So, how do you develop a cost-effective and high-impact solution marketing strategy using the most successful channels for your business?
It starts with a strategy
Before you dive head first into marketing your business you need to build a solid plan. Developing a strategy catered for every aspect of your business guides you and determines which channels are best appropriate for your goals. When creating your marketing strategy, consider the following five factors.
1: What are your goals?
Why do you need marketing and what are you hoping to achieve from it? Maybe you want to increase sales, brand awareness or likes. Or perhaps you’re looking for more blog subscribers or competition entries. Whatever your goals may be, you need to have a clear outline to set as a foundation for your marketing strategy.
Different marketing channels work in accordance with certain goals. For example, organic social media can be a great way to strengthen relationships with existing customers, where a Facebook likes campaign can increase awareness and build your following. Knowing your goals means you can narrow down what channels will work best for you and your business.
2: Who’s your ideal consumer and what are their habits?
To market your product or service, you need to find the perfect consumer. What do they like to do in their spare time? What kind of media do they consume? What is their purchasing behaviour? Nailing these on the head will put you on track to finding the perfect marketing channel for your audience.
Society is consumed by the media and bombarded with clutter daily. Because of this, you will need to find the best time, material and platform to capture the attention of your intended audience. If you are looking for Gen Z impulse buyers, then Instagram and TikTok are for you! If Gen X professionals are more your speed, then you should check out LinkedIn. Aim to advertise where your audience spends most of their time, and make sure you stand out – you don’t want to blend in with the rest.
3: Nurture! Nurture! Nurture!
It is detrimental to communicate with your customers through their journey, you don’t want to lose these precious assets at the top of your funnel. With encouragement through every stage of the purchasing journey, your customer should feel that they need to continue with the purchase, as they feel valued and appreciated by your brand.
To maximise success for your cold acquisition campaigns, opt for a media platform that allows you to create touch points throughout the entire purchasing process. This will develop a more meaningful relationship that the consumer will not forget – and hopefully they will return!
4: Who are your competitors and how can you use them to your advantage?
Stuck for ideas or need direction? One helpful tip is to check out your most successful competitors and identify what channels they use. This will give you a general understanding on what works best for your type of audience. Whilst you’re at it, check out their top performing posts and hashtags, take note and make them your own! Making regular checks on competitors ad accounts and media outlets will give you inspiration of what and what not to do with your own content.
5: Kick start your strategy and analyse the results
Once you have ticked off those boxes it’s time to launch! But it doesn’t stop there.
Your channels need to be frequently reviewed, optimised and updated – you don’t want a poorly performing ad taking up your budget! Take advantage of your media channels’ analytics and learn how to read them. Coming up with a contingency plan aligning to your campaigns will significantly improve your success rate and allow you to quickly change a detail the plan isn’t quite working to your advantage. Stay on top of your media channels, because if you don’t, you may miss out.
Would you like some more direction?
Here at Cooper & Westwood, we can guide you every step of the way. From developing your first marketing strategy to optimising your ads, we can offer you a variety of services to cater for every need. Give us a call on 5500 4404!