What You’re Missing Out On Without A Marketing Strategy
You’ve been stepping up your marketing game. Your service or product is high-quality.
But you’re still not seeing the results. What’s the catch?
Although giving more attention to brand promotion is a wise step in the right direction – that alone will not help your business.
In order for your marketing efforts to be effective, you must create a sharp and compelling strategy that uses the right tools to promote business growth.
What qualifies as a marketing strategy?
A powerful strategy does not only entail planning. It also involves analysis, skilled implementation, and metrics. You need to identify your marketing goals, make focused efforts to achieve those goals and constantly work to optimize your approach.
Simply put, a marketing strategy is the collection of methods used to promote your products or services to prospects and existing customers.
How a marketing strategy can benefit your business
You know planning and organization are important, but you’re still not convinced they’re really that important.
Here are 4 ways to completely turn around your business and accelerate growth:
The importance of brand awareness cannot be stressed enough. 50% of all customers stop their collaboration with a company after a bad marketing experience.
Every interaction with a client sends a message about your business and it determines how they perceive you, and how they feel about your product or service.
Therefore, a marketing strategy that is aligned with your core values will enhance your visibility and routinely draw in a higher number of prospects.
You’re tirelessly working to get your new business off the ground. You feel like you’re extra thorough and doing everything right, but you have nothing to show for it. Sounds familiar?
As commendable as it may be, digital marketing efforts that are unguided and disorganized will not translate into an increased conversion rate. You might be so focused on getting every detail right that you lose the big picture.
A resourceful strategy, once implemented, can help you uncover weaknesses regarding your product or service.
Perhaps you are not doing enough outreach, or you need to tweak your social media content. Once you have a clear-cut strategy, you’ll begin to notice these issues and identify solutions for them more easily.
You can learn to plan ahead for shortcomings, resolve them in a timely manner, but also prevent them from rearing their heads again in the future.
Build loyalty and trust with your customers
Generally speaking, loyal clients represent 20% of your total customer base, but they also account for 80% of total sales.
Without happy customers that trust your brand and keep coming back for more, your company won’t survive.
This is where strategic marketing comes in. A far-reaching plan can help you cater to the specific needs of your target audience. It can make it easier to connect with them and learn more about their struggles and concerns, as well as how you can resolve them proficiently.
Did you know that converting a new customer costs five times as much as retaining an existing one?
Customer retention is the lifeblood of increased sales. The more clients you can keep engaged and active, the closer you will get to achieving your marketing goals.
A strategy that is tailored for hooking new customers, but also focused on retaining existing ones is the key to increasing ROI fast.
When it comes to marketing strategy, the research speaks for itself – marketers who document processes and set goals are over 400% more likely to report success than those who don’t.
In order to stay ahead of your competition, increase sales and strengthen your relationship with your customers, you need a marketing strategy. And you need it now.
If you’re interested to learn more about how to create a customized solution for your company, get in touch with our digital marketing experts.