Growth Marketing Strategies
How often do you see a successful product with no marketing? Probably not very often. Marketing is the top way that businesses drive traffic to their product or service. In recent years, technology has dramatically shifted effective marketing strategies. Instead of simply placing an ad in the newspaper for the whole town to see, you need to find strategies to reach a global audience.
Growing your business through marketing strategies is possible, making it important to consider focusing on customer relationships, utilizing cross-platform postings, altering your target market, finding product diversification, and developing new products.
Focus on Customer Relationships
Marketing growth is founded on strong customer relationships. Creating brand loyalty improves word-of-mouth advertising and gives you access to an expanded customer base. When customers reach out with problems or comments, give each individual the proper attention. One bad customer relationship can be detrimental, especially if the complaint goes viral. Avenues to achieve strong customer relationships include outsourcing the customer service function and implementing automatic replies.
Utilize Cross Platform Postings
Technology has made it simple to post the same image or video across multiple platforms with the clicking of a button. This gives you access to double or triple the exposure without having to spend the money creating unique ads. At a minimum, you should be posting to the platforms that your target market frequently uses. For example, a younger target market utilizes Tik Tok and Instagram, meaning you should post your campaigns on each of these sites.
Alter Target Market
If you are looking to achieve growth through marketing strategies, revisit your target market. Expanding your marketing to include new groups gives you access to higher revenue potential. Keep in mind that you may still need to alter the advertising content to meet the needs of the new target market; however, the additional revenue makes up for the fees associated with running separate campaigns.
Find Product Diversification
Competition is a major threat to business growth, regardless of what industry you operate in. Do you have a unique feature on your product that competitors don’t have? If so, be sure you include that differentiation in all advertising campaigns. There is little motivation for a consumer to buy your product if you don’t highlight the benefits of purchasing your product over competitors.
Develop Your Email List
A key component of growth marketing is developing an email list. This is a list of consumers that signed up for your email list to receive a coupon or learn more about future products or services. Every time you roll out a new product or are offering an exclusive discount, you should send an email to every consumer on that list. This allows for an inexpensive way to make sales.
IN SUMMARY:
Growth marketing strategies are vital to generate additional sales and increase your profitability. Finding the right growth strategies for your business can be tricky, which is why working with an expert is beneficial. Divocate Consulting understands that marketing strategies are constantly changing, which is why our team consistently reads up on the latest trends you should implement. Reach out today for more information.
