There are many strategies which can help you gain the suitable market for your product. Many companies try to take decision without doing any market research. But it is a very important thing to research the market to build new strategies for your company.
There are 5 ways to build good strategies for the company:
- Marketing Framework
Making a framework is more important than working in the real world. Mediocre marketers think in terms of campaigns. Great marketers think in terms of growth frameworks. So a company should learn how to position your marketing strategy into a sustainable, ROI-positive revenue engine for their company.
A company needs to know their customer related information those are.
Who are they?
What do they value most?
What inspires them?
What brought them to your company product?
- Ignoring stereotype:
Marketing suffers from a pretty big problem — That is “cost”. Marketing people should command the same amount attention and respect as any high-value business function. A company just need to structure the programs around the goals that CEOs and CFO care about most — profits and revenue. As the company’s marketing team lead, the ball is in your court to communicate the value of the results that should be generating.
The thing about executives is that they don’t care how much web traffic you’re driving. They care about the sales and new business that resulted from your marketing spends. That’s it. If a company focuses on reporting click data, social media shares, and email open-rates, a company will face trouble inspiring buy-in from the executive team.
So, a company should build strategy that positions the marketing initiatives as an ROI generating, critical business function.
I summarized the steps that a meaningful content marketing study should include. I felt that those tips are channel agnostic and can help boost the success of any type of online marketing. Here’s what a company should do to prove marketing program’s ROI (Return on Investment):
- State the campaign costs.
- State the revenues that resulted directly from the campaign.
- Describe the tracking process.
- State the number of leads and sales generated from the marketing initiative.
- Use statistically meaningful numbers — small sample sizes generate misleading analyses.
- Establish a control group to benchmark the success of your campaigns.
- Understanding the value of timing:
Marketing success comes from reaching the right Buyers at just the right time in their decision-making process. A company should be in place of a customer, and think about the last time you shopped with your favorite online store. Imagine that you’re shopping for an upcoming vacation. Weeks ahead of schedule, you have plenty of time to make a decision about what you need, but you still see some items that you like. Within 24 hours the product will be in front of your eyes by social media marketing. So it’s very important task to work with the time and also work with the buyers everyday visited areas. That is only possible by online marketing.
Computer screen is a marketer who is carefully analyzing and responding to your behavior patterns. And it’s not just one marketer. That will build entire enterprise systems around the goal of moving customers through the purchase funnel.
- Establish the core marketing goals including online marketing:
Every marketing program needs a carefully defined set of goals including both offline and online marketing. Otherwise, that is basically throwing arrows in the dark. Without clear goals, marketing campaigns have the potential to be dangerous for a business.
If a company is not sure about what you want to achieve with your marketing, you risk wasting time and money — both of which are incredibly scarce resources for the organization. There are some initiatives:
- What are the types of goals that your business needs to achieve?
- Need to focus on objectives that translate directly into ROI for your business.
- Is the business needs paying customers to remain sustainable and grow.
- A company might set is to boost shares and follows on media.
Goals should be custom-tailored to a business’s revenue objectives. There is no such thing as one-size-fits all approach to determining marketing ROI. A company need to really dig deep to understand what objectives your executive team cares about most, Revenue and sales. Company’s goals can be as straightforward as lead generation, a key framework for moving prospects down the sales pipeline.
A company should remember that marketing initiatives will fall into the following core areas: awareness, engagement, decision, and retention. They need to understand which of these four functional areas are most important to the business and why. They have to make sure that online marketing campaigns align with the goal that are most important for the business to achieve right now, in the medium term, and down the road.
- Understand the key traffic drivers:
Web traffic drivers typically fall into one of two buckets — free and paid.
Free traffic includes visitors who arrive at the website organically through word of mouth referrals, social media publicity, viral videos, and news outlets who might be covering and linking to the company online.
Paid traffic includes visitors who arrive at the website through a sponsored placement or advertising slot that the company has devoted to testing. These channels include banner advertising, social media advertising, and sponsored placements
A myth in online marketing is that free traffic is inherently better than paid traffic. This perspective is untrue. Both types of marketing require significant investment in terms of time and money. In other words, free traffic isn’t free — you need still to dedicate time and human capital to building an intelligent strategy and executing your operations.