Test Your Messaging
Set aside part of your marketing budget for research. Test different messages and offer across various channels, like social media, direct mail, email newsletters, to see how they perform before dedicated a large amount of effort and budget into it. A/B Testing is a great way to do this. Continuously testing and fine-tuning your campaigns will form the direction of your marketing.
Identify Your Core Audience
With the large amount of data available from social media platforms, businesses can narrow down who they are reaching and who their core audience is. Pay attention to the insights to know the age group, gender, location, and even interests of those engaging and converting from your campaigns. Learn when your audience is online and most active. Detailed data can be used to target those that are most likely to convert, reducing your CPC (cost per conversion).
Convey Your USP
Why do your customers buy from you and not your competitor? This is your unique selling proposition, or USP, and should be the focus of all of your marketing efforts.
Earn Repeat Customers
In many cases, repeat customers make up 80% of sales and profits in businesses. Failing to retarget current customers can be a huge missed opportunity for profits. Selling to a new customer is usually five times more expensive than selling to an existing customer, so be sure to include your existing customer base in your marketing efforts.
Invest in Your Marketing
Studies show that business owners wish they invested more for marketing. Whether year one or year 20, businesses on average allocate 10% of their budget to marketing and wish that they had invested 25% or more. Smart Marketing will pay off.
It is easier than ever to track customer behavior and campaign results. Use this to your advantage when crafting your marketing campaigns. Creating a campaign that you think will do well is not enough if you have not followed up to ensure that it really is doing well. Before launching any campaign, identify your goals.
To succeed, your business will need to grow and evolve. Don’t be afraid to try out new technology, advertising platforms, and experiment with new audiences. Trying out new things will allow your to reach a wider audience and maximize potentials sales.