How marketing your business affects your bottom line
A powerful marketing strategy can be the difference between incredible success and failure for any business. It should be the first thing you do before putting any marketing tactics into place, but unfortunately, too many businesses just start marketing at random — and they wonder why they fail.
Today, you can target your specific audience more efficiently and at a lower cost than ever before using modern digital marketing methods. You can track how well your marketing campaigns perform using analytics tools and make necessary adjustments to improve results. Data is king here, without good data, you don’t know if you are improving.
With the right marketing strategy in place, you can use these various marketing methods to grow your business and increase revenues.
Here are some specific ways marketing affects your bottom line.
In today’s blog post we are going to go through:
Let’s get started.
Why should I invest in marketing?
1. It increases revenues
2. It reduces sales costs
3. It improves client loyalty
4. It enhances brand awareness
How to market your business
Remember that marketing strategy I talked about? Here’s where it comes into play. Before you start marketing, you need to take certain steps to ensure your efforts are going to be successful.
Marketing your business is an ongoing process that should be revisited regularly to ensure that you reach your target market and see results.
Here’s how you put together a smart marketing strategy.
Identify your target market
Choose your marketing channel
Once you’ve identified your target market, it is time to choose the marketing channels that are most likely to reach them. Think about what type of product or service you sell, your budget, and your available resources. What can you put into place that’s going to reach these people best? Are they very active on a specific social media platform? Are they better reached through blogging? What’s the best marketing channel for them?
Note: I do a 1-hour marketing consultation around this with my customers for free.
Sign up to our newsletter
Stay ahead of the game by building your foundational marketing knowledge.
8 types of digital marketing
4. Email Marketing: Email marketing involves either buying an email list or emailing a list you’ve grown yourself. You send regular emails that offer products, services, or content for the customer.
5. Affiliate Marketing: This is a type of marketing in which products or services are promoted in exchange for a commission on the sales. You pay affiliates to bring you leads.
6. Content Marketing: This is the creation and distribution of valuable, relevant, and consistent content to attract and engage a target audience. When the time comes to buy, they’ll come to you because they perceive you as an expert in your field.
7. Mobile Marketing: This where you text or call a customer to offer them a product or service.
8. Marketing Analytics: This is the process of analyzing data to better understand your customers and track the success of your marketing campaigns. This is the bedrock of any good marketing strategy because it allows you to optimize your efforts and get more bang for your buck.
How do different aspects of digital marketing build off each other?
Different forms of digital marketing complement each other in various ways. For example, content marketing can bring traffic to your website. You can then augment that traffic with paid ads, increasing overall visitors (and hopefully sales). That content you’re creating can also be shared on social media, allowing social media to bring you more traffic while at the same time making you more active on social.
When you combine marketing efforts together, your business is more likely to generate leads and sales. Not to mention grow exponentially.
Looking to build a powerful marketing strategy? Let’s talk
I work with dozens of strategic marketing agencies that I’ve vetted extensively for quality. I work alongside you to make sure I find a partner that fits your business goals. Making sure your business has the best chance of success is the goal.
Fill out the form to get started.