“It’s a buyer’s market!” We seem to be hearing that everywhere lately , whether it’s for a consumer or business to business (B2B) product or service purchase, this economy has taught our customers a replacement thanks to purchase. And, with the plethora of latest technology providing information sources to guage and compare a brand’s attributes and reputation before purchase, how we now market to our customers – both new and existing – represents a series of challenges.
As a B2B or consumer marketer during this new marketing environment, how marketing and marketing communications plans and tactics should be developed and employed may be a dilemma for everybody . But it’s possible to beat these challenges – here are four critical keys to success.
Know Your audience
Knowing your audience may be a major priority. just like the management of the many midsized companies, you almost certainly think you recognize what your existing and potential customers want and believe about your brand. But does one really?
Before you spend your limited marketing dollars, isn’t it a far better idea to use marketing research to work out – beyond price – what’s most vital to your target audience? and the way they rate your product and its attributes compared to your competition?
Also, do not forget to conduct research together with your |along with your”> together with your own employees and channel partners to seek out out how their opinions match up with your customer’s wants and wishes . Employees and channel partners are often your best brand advocates, but they have to be in sync with the priorities of your customers and prospects.
Investing marketing communications dollars to uncover then promote what your customers actually want is vital to improving your marketing ROI. The old adage, “Look Before You Leap”, has never been more true.
Value Both New and Traditional Media
Traditional media, like print and broadcast advertising, events, spam and PR , still remain vital marketing tools. But, becoming equally important, are blogs, Twitter, Facebook, LinkedIn, webinars, online videos, and an entire host of latest media alternatives. All have value, and learning the way to use them together is significant . But you want to take the time to know their relative effectiveness, not just their efficiency.
The question to deal with is which media mixture of these marketing communications tactics to use to stay existing customers, much less gain leads for brand spanking new customers. Understanding the strengths and weaknesses of those tactics together with your audience presents some interesting challenges, and you’ve got to be ready to separate the myths from the facts. for instance , did you recognize that:
47 percent of usa citizens , between 50 and 64 years aged , are now actively using social media, up from 22 percent in April, 2009 (Pew Research);
Magazine readership has actually increased over the past five years, even within the 18 to 34 year old segment (MPS);
While U.S. advertising spending declined by 9 percent in 2009 to $117 billion, cable television advertising increased by 17 percent, and Spanish language television advertising increased by 32 percent (Media Reports);
Nearly two-thirds of consumers “value their direct mail”, but only 36 percent of marketers believe this – clearly a disconnect (USPS):
Retailers who post messages online have found that shorter posts (with fewer than 80 characters) receive 66 percent higher engagement that longer posts. And specific “dollars off” messages receive higher redemption than more general “percentage off”, “deal” or “bargain” phrases (Buddy Media).
Clearly, understanding the advantages of both traditional new media, especially for a midsized company with limited resources, is extremely important. Both are impactful, and finding the proper mix for your business is another key to your success.
Participate in Content Marketing
Recently, there has been an explosion of content marketing to satisfy the demand for information by inquisitive buyers. Whether within the B2B or consumer marketing communities, existing and prospective customers have started looking to blogs, videos, articles, white papers and case studies to supply them with ongoing and fresh sources of data .
The depth of data now available to customers, and therefore the speed at which it’s available to them, once they want it, can raise brand awareness, improve reputation, develop qualified leads and achieve profitable sales engagement. It can’t be ignored. But there are issues. during a recent B2B Marketing Trends Survey Report from HiveFire, among nearly 400 marketing professionals:
Nearly 70 percent of content “curators” say lack of your time hinders their efforts;
Two-thirds say a scarcity of original and quality content may be a major disadvantage;
37 percent say lack of experience to try to to the work may be a major problem, while a like number have difficulty in measuring ROI.
But, recognizing the importance of content marketing and addressing these problems might be another key to your success.
Don’t Go It Alone
Truly understanding your audience, learning about new also as traditional media opportunities, and developing an impactful content marketing program represent major keys to improving your marketing and marketing communications ROI. But there’s more.
Probably tons of smart thinking has already gone into creating your business strategy, plans and tactics. But, like most midsized companies, you’ll be understaffed and underfunded to form the changes to require advantage of those marketing tools in today’s environment. the answer – don’t go it alone.
Consider partnering with established senior level consultants to assist you and your team develop, refine and implement your programs. Above all, search for consulting groups who are “media neutral”, and are not selling one particular marketing discipline. And make certain they need extensive experience across industries and makes , also as a willingness to “tell it love it is”, so candor will flourish. And, happily, finding the proper consulting partner to figure with you’ll end up to be the fourth key to your marketing success