One of the most prominent cases we encounter when meeting with new clients that are struggling with their demand generation process is the lack of a marketing strategy. The unknown KPI’s, end objectives, and lack of sales integration leads to wasted marketing budgets and lost hope. In order to build a robust marketing strategy, you have to always look at each element of your marketing efforts and rate them accordingly. A common concern we typically hear from our clients is how to make sure their marketing efforts will bring in measurable results that they can present to executives at the end of the day. It’s not an easy task, but that’s why many companies tend to bring in an outside agency to work hand-in-hand with them and ensure they are maximizing their budget returns. Take a look at your marketing components and ask yourself: How much am I investing on each, how am I tracking results, and how am I adapting over time?
Here are the components of a robust marketing strategy:
- TV/print ads: These might not be the best route for every company, but depending on your target market, you can potentially have a very effective TV/print ad campaign. The biggest hurdle with these types of ads is tracking and capturing leads to calculate the return on investment. One way to increase the effectiveness of these ads is by tracking the leads through call tracking. Your sales team can then tailor their messaging based on the lead source. Meanwhile, as a marketing manager, you can calculate your returns by tracking how many leads came in from each source and attributing it to sales.
- Digital ads: These are the most commonly used ads these days and are much easier to track. With A/B testing, you will be able to test the waters with a few versions of your digital ads, with different images and messaging, to adjust accordingly based on which ones are getting more traction and capturing more leads. Another reason why we encourage the use of these ads is the capability to pinpoint your target market and deliver offers through channels that they regularly utilize.
Did you know that “email marketing yields an average 4,300% return on investment for businesses in the United States?” (Direct Marketing Association). That is quite the return! But in order to make the best of your investment, a considerable amount of time must be invested to ensure you are sending targeted emails, addressing specific pain points to each target group. There are many components that must be included in an email marketing campaign to ensure it yields to profit, or else, you will be wasting your time sending emails just for the sake of sending them.
Many companies tend to settle for a generic basic website and forget about it over time. But we cannot stress this enough, your website is one of the most important marketing components. Many times, it will be the first touch point with your customers so it is definitely worth investing in to ensure you are setting the right impression. Within your website, you should build each page with the customer in mind. Here is a list of website redesign questions you can use to ensure your website is up to par and is actually capturing the leads you expect it to.
It seems like everyone has been talking about content recently. There is a clear reason why. There is no longer a cookie-cutter form of content that every company can follow. Whether it’s on your website, ads, emails, social, your content is what represents you, what you offer, and what value you will bring your customers. It is essential to nail down your content strategy by understanding exactly how to approach each one of your target personas, capture their attention, and entice them with an offer that directly relates to their needs.
When it comes to social, it’s all about putting your company out there, listening to customers, engaging with them, and building an unbreakable bond with them. Every company must include a social media strategy in their 2019 budget. In relative to other forms of advertising, social media is one of the more cost-efficient and effective options for brand awareness and building relationships.
At the end of the day, the most important step to take to build a robust marketing strategy is to identify your company’s KPI’s for each one of these elements. What is the end goal of each element? How much time are you investing and what are you getting out of it? At all times, your marketing and sales team must work hand in hand and ensure they are on the same page when it comes to lead nurturing and taking the necessary steps to convert leads into customers. A disconnect between the two departments will result in a dysfunctional system and a lot of money wasted.
If you are struggling with your current marketing and brand strategy, let us help you.
Editor’s Note: This post was originally published in November 2015 and has been updated for accuracy and comprehensiveness.