Marketing is an essential process that every business needs if they want to be successful. Without it, customers won’t know who you are, because your product will not reach them. For that to happen, you need to use the right marketing method for your goals. The problem is that with so many techniques going around, you may have difficulties choosing the right one.
No rule says you can use just one option. However, since each one comes with certain expenses, you may want to narrow them down a bit. If you are not exactly certain which marketing method is the right fit for you, this article should help offer some guidance.
Top Marketing Methods to Consider
There are plenty of marketing methods going around for you to choose from, and they’re all dependent on your audience and possibilities. Here are the ones that you should put your focus on:
- Inbound Marketing
Inbound marketing is by far one of the most effective marketing methods that you could try out. With inbound marketing, you are attracting customers by using the power of content. The content should be powerful and qualitative, resonating with the audience and offering them a positive experience. Rather than relying on ads, this type of marketing focuses on information sharing.
Inbound marketing can include a series of strategies. The first and most important is the information within the content. That information is made more valuable through the addition of inbound links, correct search engine optimization, and a selection of keywords. Good inbound marketing can place you at the top of Google searches while making you look authoritative.
- Social Media Marketing
Aside from inbound marketing, social media marketing is also among the most popular options. Nowadays, everyone is on the Internet, sharing things left and right. As a result, if they like the content that you provide, they will also engage with you. Ultimately, this can increase your visibility, especially if you have content with viral potential.
Consider your audience and where they are more likely to spend their time. For instance, 50% of Generation Z reportedly use social media at least once a day. If your ideal customer is mostly part of this category, then you may want to include social media in your marketing strategy.
- E-mail Marketing
E-mail marketing is a great option to market your business, particularly if you have a longer list of subscribers. While instant chatting and other communication methods are gaining popularity, e-mail is still not losing any ground. In 2022, 4,258 million people were still using email, and the numbers are only expected to grow.
E-mail marketing is convenient because it encourages people to interact with the content. Plus, if your focus is on grooming your existing customers, not just drawing new ones, e-mail marketing can help. This marketing option allows you to send content such as newsletters, blog articles, promotions, and more.
- Influencer Marketing
Influencer marketing is by far one of the most popular options out there, and for a good reason: people love influencers. Their followers are more likely to trust their opinion compared to the brand or other online reviews. As a result, if an influencer starts recommending your product, there is a good chance that at least a quarter of their list will be interested in your product.
You don’t have to find an influencer with millions of people following them. Micro-influencers could work just as well for your needs. What’s important for you is to find the right one from your niche to spread the message. The closer you are to your target audience, the more sales you will likely make.
- Conversational Marketing
Conversational marketing has gained more and more popularity, mainly due to customer expectations. Generally speaking, people do not like talking to customer support. About 24% would rather shave their head and 30% would rather do their taxes. With some, it happens because of anxiety, whereas others simply see no use.
That being said, many of these people would be more likely to interact with a chatbot, which is what conversational marketing entails. This allows clients to get the answers that they need without having to go through the whole customer support process.
Steps to Take Before Deciding on the Right Marketing Method
Before you decide on a marketing plan, there are certain things that you should keep in mind. Here are the steps to follow as you are putting together your strategy:
1. Identify Your Business Goals
First and foremost, you need to have a bigger picture in mind. The marketing method that you use should fit your business goals, which is why you need to know exactly what they are. For instance, you may want to get a 15% sale increase every year, or you may want to get five new accounts every month. With the big picture in mind, you may have a better idea of which route to take.
A good tip would be to use the SMART method to set up goals. Short for “specific,” “measurable,” “achievable,” “relevant,” and “time-bound,” SMART goals will ensure you stay realistic. This will also make sure that your marketing methods are up to par.
2. Put Down Your Marketing Goals
Now that you have your business goals down, it is time to focus on your specific marketing objectives. Think about how your chosen goals can help you reach your business purposes. For instance, to increase sales and add new accounts, the team should improve the conversion rate or bring more leads.
The SMART marketing method may work just as well here, as it did for your business goals. You can set up short or long-term goals, or maybe even mix up both. By setting those objectives, you will be less likely to get sidetracked along the way.
3. Define the Audience
When deciding on a marketing method, you also need to determine who you are selling to in the first place. Who is your target audience? What do they need, and where do they buy it? Where is it that they spend most of their time? Why is it that they are buying in the first place? The more you know about your ideal customer, the easier it will be for you to attract them.
Each potential customer has a pain point that they want to solve. They’re the ones with the problem, so they are looking for solutions to fix it. You must find a way to get in front of them, offering the answers that they so desperately seek.
4. Do Some Market Research
When you’re choosing the perfect marketing method, you also need to look at the market. Investigate the current market size, its growth, and what social trends it usually follows. Check demographics such as gender, age, and family type. This will make it easier for you to determine how the product can fit within the industry.
By doing market research, you can make better decisions about promotions, prices, locations, and products to sell. By knowing the market, you can test out products, concepts, or marketing ideas that you can use in the future. When you’re researching the market, you can identify opportunities while minimizing the risks.
5. Create a Budget
You may have a set of goals and perhaps a vision of your business, but sadly, money does not fall out of the sky. As a result, you have to go through the numbers for a bit. By creating a marketing budget, you should be able to allocate the cash towards different resources, so that you can determine which one works best.
By sticking to a budget, you can also narrow down your marketing options to the ones you can actually afford. While you may not want to sell yourself short, you don’t want to get in over your head either. A budget will make sure you don’t cross a line you can’t handle.
6. Analyze Your Competition
You should also look at what your competition is up to. What products are they interested in selling, what is their supply chain, and what are their average prices? Do you know anything about the marketing tactics that they’re using? Find out everything you can so that you can determine what differentiates you from them.
By researching your competition, you can find out what their weaknesses and strengths are. In hindsight, this will also help you determine what your own are. You don’t need that info to bring them down, but instead, you need it to improve yourself. Find out what they are lacking, and figure out how you can fill in that gap. For instance, if the competition has a weak online presence, it would be a good idea for you to focus on that so that you can be ahead of them.
The Bottom Line
With the multitude of options available, choosing the right marketing method may seem challenging. However, by setting a goal and understanding your audience, you should be able to narrow things down and go with the marketing technique that can bring you more visitors/clients.