Did you meet the business goals you set for 2021? If not, now is the perfect time to introduce or reintroduce marketing into your business strategy for a successful year ahead.
Developing a business strategy with a solid marketing foundation is what will attract new customers, nurture existing ones, and increase your revenue. Whether you’re an expert in the field or new to the scene, fine-tuning your marketing is important to every business’ survival.
Here’s five ways to grow your business through the power of marketing:
1. Define your brand identity
Brand identity is what connects consumers to your business and creates the initial platform for products and services. Your brand identity is more than just your name and what you do. It’s the character and personality of what your business represents.
A well thought out brand identity is designed to connect with customers as they interact with your products or services. Made up of elements carefully designed to present a cohesive and clear message to your audience, your brand identity is an integral part of your marketing strategy. This can be achieved through elements such as:
- Technical Descriptors
- Brand messages and copy
- Font and sizes
If your visual aesthetics are confusing, it won’t matter what you say, you will have lost a potential client. Remember the old adage ‘I am only responsible for what I say, not for how you understand it’? We believe in turning that on its head – it’s our job to ensure audiences understand the correct message from the very beginning, and that’s where brand identity comes into play.
A well-defined brand identity should instantly grab the attention of your audience. This will likely be your first impression and these few exchanges should have a clear and concise message that intrigues consumers so much that they want to know more about your brand. Your brand identity should appear on all products and materials to create a sense of belonging for your consumers.
2. Identify your audience
Identifying your target audience is essential for your brand and marketing strategy, otherwise you’ll waste resources and get lost in a sea of brands and advertisers. Defining the key demographics for your ideal customer will allow your business to create targeted, personalised experiences for consumers – they demand this approach in today’s market.
It’s imperative you are delivering the right message to the right people at the right time and in the right way. When you gain a comprehensive understanding of your audience, you can make an informed decision on where, when and how to direct your messaging.
Instead of investing all of your time and energy into attracting new customers, focus a proportion of your efforts on nurturing the existing ones. Building long-term relationships with regular customers often has a much higher return on investment than attempting to attract potential newcomers. There’s a lot to be said for the 80:20 rule or the Pareto Principle. It can be summarised as ‘20% of a group is responsible for 80% of your sales.’ So if you can nurture and retain customers turning them into repeat customers, the chances of revenue earned is more – 20% of repeat customers are responsible for 80% of revenue.
Identify what makes your products and services so unique that consumers keep coming back for more. Foster these assets into your marketing approach and they will likely separate you from your competitors and attract more business.
3. Understand your competition
Every business will face competition. No matter how niche your market may be, consumers always have a choice on where to invest their time and money. With an overextending internet and ever-changing technology, buying goods and services is as easy as a click of a button, meaning your competition has expanded worldwide.
A competitor analysis is a method for identifying gaps in the market that you can fill. It involves undertaking an honest and transparent assessment of your strongest and weakest competitors, including:
- Their strengths and weaknesses
- What makes them different
- How they market to customers
- The prices they charge
- How they distribute and deliver
You can gather intel from their:
- Social media
- Website content
- Brand identity – colours, logos, slogans
- Customer reviews and testimonials
Analysis of your competition will help you determine what brand strategy does or does not work in your marketplace, while offering ideas on how to separate and differentiate your brand from your competitors.
4. Have a great website
It almost goes without saying, but every business must have a website. It gives you credibility, makes it easy for people to find your contact details, acts as a vehicle to share unique content, and – of course – brings you organic traffic via Google. Your website should have a professional look that’s consistent with your brand identity, with contact details that are easy to find and SEO optimised headings that clearly communicate what you offer.
On a website, everything from your choice of colours and fonts to your use of banners and images can make all the difference. Having a professional create your business website ensures your messaging remains consistent, the pages are easy to navigate, and you are placed strategically on search engines for consumers to find.
In an ever-crowded space, it is becoming more difficult to get noticed by virtual visitors. To rise above the noise, consider search engine optimisation, writing engaging blog content, evergreen content such as FAQs, highlighting your social media, and including social proof such as reviews and testimonials.
And, considering that 92.1% of users accessing the internet are doing so via mobile phones – you need to ensure that your website is mobile friendly.
5. Use social media
Ranging from YouTube and Facebook to LinkedIn or Instagram, Twitter, Snapchat and TikTok there are many social media platforms to choose from to connect with your consumers. But you need to choose wisely, choose the platforms where your target audience interacts.
Social media is an affordable and effective way to attract new customers and communicate with existing ones, but it needs to be approached strategically. Posting for the sake of posting won’t always help you attain your goals – in fact it can be detrimental to your brand reputation and your reach.
Determine what you want to achieve out of your social media page, aligned with your business goals, and take the time to research your target audience. Everything you share on social media should have a purpose, whether it’s about a new product to attract potential customers or sharing an article to position yourself as a leading voice in your field.
Based on where your target audience hangs out your marketing efforts could include email marketing, a chat feature on your websites, social selling and connecting via apps such as Facebook Messenger and WhatsApp.
Business directories can also boost your brand. One of the most significant benefits of a business directory is visibility in local searches. For a local Australian business that relies on customers in its own area, this can be incredibly valuable. Check this Viabrand DesignRush profile as an example.
When you work with a professional marketing agency like Viabrand®, we can ensure your business strategy is underpinned by solid marketing techniques. We can help you achieve your goals, whatever they are.