To affect the bottom line, business owners must be on top of their marketing strategy to reach out to prospects, promote brand awareness, and engage and retain their customers so as to drive sales. No matter the nature of your business, you must factor in effective marketing to run a profitable business and stay ahead of the curve. In today’s podcast, Tim Parkin from Parkin Consulting and Stephen Halasnik from Financing Solutions discuss how business owners can find marketing bullet to grow their businesses.
Finding Your Marketing Silver Bullet that Grows Your Business
Marketing plays an important role in business growth and development. Every successful business has an effective marketing strategy to increase brand awareness and engage its target audiences to drive sales. No matter the size of your business, you must factor in effective marketing to maximize revenue and stay ahead of the curve.
Recently, the internet has changed the marketing landscape offering a wide array of mediums and choices for businesses to build publicity and reach their target audience. Hence, it has become more imperative than ever for you to keep tabs on marketing trends, technology and tactics so that you will not remain stagnant while your competitors move forward. Smart business owners devote considerable time and resources to their brand-building efforts to figure out the marketing techniques that will work best for them.
If you don’t take your marketing campaign seriously, you’ll fall behind your competitors, and your business might even fail in the long run. On the other hand, putting consistent effort into your marketing activities will help you find the marketing silver bullet that grows your business.
What Is Marketing?
Marketing is the practice of promoting and selling products or services, which includes market research and advertising. In other words, it refers to the actions of a business to attract audiences to the company’s product or services through organized, value-laden messaging.
Every effective marketing campaign must aim to deliver high-quality value to prospects and consumers through creative and resonating content that showcases product value, builds brand loyalty, and promotes sales.
To have successful marketing, you must research and analyze your consumers by conducting focus groups, sending out surveys, and studying buying habits to determine where, when, and how your customers want to communicate with your business.
What Are Types of Marketing?
There are different marketing techniques, and knowing where your customers spend their time will help you adopt an effective marketing strategy that will benefit your business the most. However, you must conduct market research to determine which type of marketing will best serve your objective. Below are the various types of marketing you can consider to build your brand:
Internet marketing is a broad term that connotes a type of marketing that takes place online. Internet marketing involves businesses’ online activity to promote their brand and maintain an online presence.
Today, it isn’t easy to run a successful business without a functional website. This is because most buyers will likely carry out online research before making a purchasing decision. Not having an online presence means you are missing out on prospects whose preferred means of making purchases is through the internet.
Search Engine Optimization
Popularly known as SEO, search engine optimization is the practice of optimizing content on a website so that it appears and ranks in search engine result pages (SERPs). SEO is a very important marketing tool, especially for small businesses. Marketers use SEO to attract people who perform searches about specific products or services.
Experience has shown that people conduct thousands of commercial-related searches daily to find information about products and services. Therefore, having greater visibility and ranking in search results means you stand a higher chance of acquiring customers than your competition. Unlike other marketing forms, SEO is inexpensive and can affect your bottom line pretty quickly.
A whole lot of transformation has come to the marketing world. Today it’s no longer fashionable to keep bombarding people with your products or services without accompanying them with educative and valuable content.
That said, content marketing is a marketing strategy that focuses on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience. Content marketing has gained traction in marketing that prominent organizations, including P&G, Microsoft, and Cisco Systems use it to drive profitable customer action.
Social Media and Print Marketing
Small businesses also leverage Facebook, Instagram, Linkedin, and other social media platforms to reach their audience and create impressions on them over time.
Similarly, some businesses continue to feature articles, photography, and other relevant content in the print publication their prospect and customers read.
What Are the Benefits of Marketing
Marketing should be at the heart of every business if it must become successful. However, you must master the art of marketing by being consistent and focused. It’s important to know that marketing is a continuing process that never ends and, as a result, should be done every day to be effective and generate impact.
There are numerous benefits to having a comprehensive marketing strategy which are:
Creating Brand Awareness
The growth and success of your business are positively correlated with establishing and promoting your brand.
Marketing helps shape a positive perception of your business by consumers by making people aware of your company’s value and mission. Marketing promotes recognition, customer loyalty, trust, and credibility.
Through effective marketing, you can engage your customers through in-person or online touchpoints. Customer engagement creates lasting relationship and foster brand loyalty and awareness.
You can engage your customers by producing quality content, email marketing, or customer service. Customer engagement is essential because it helps to reduce churn rate and promote customer experience.
Marketing is a means to an end. The end is to achieve profitable customer action that drives sales. Effective marketing helps inform consumers what your business offers, its value, and what makes it stand out from the pack.
It will be difficult to reach your target customers and make sales if you don’t put effort into marketing and advertising. No matter how good your products are, you still need to get them in front of consumers and convince them to buy from you instead of your competitors.
Marketing helps to expand your small business and increase its revenue. In other words, when you properly implement a comprehensive marketing strategy, you will earn more proceed from sales.
In a nutshell, to scale and grow your business, you must effectively look for more creative ways to reach out, engage and retain customers.
Learn About Our Guest
Tim Parkin is a global consultant, advisor, and coach to marketing executives of many world-renowned brands. He specializes in helping marketing teams optimize performance, accelerate growth, and maximize their results. By applying more than 20 years of experience merging behavioral psychology and technology seamlessly, Tim has unlocked rapid and dramatic growth for global brands and award-winning agencies alike.
Learn About Financing Solutions
Financing Solutions provides an easy-to-setup unsecured business line of credit to small businesses. The small business financing product is a great cash backup plan that costs nothing to set up, nothing until used, and is inexpensive when needed. Financing Solutions is rated A+ by the Better Business Bureau and 5 stars by the BBB/Google Reviews.
Unlike a traditional business bank loan, our business credit line requires no collateral or personal guarantee (except in the cases of fraud) making it an excellent alternative business financing option. Small businesses often used their line of credit for short-term expenses, working capital, to make payroll, or for a business investment especially when business cash flow is temporarily down.
Get a free, no-obligation business line of credit quote by filling out our simple 2- minute business line of credit application here.
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