Have you applied Modern Marketing Strategy? How does your company’s marketing portfolio look like?
If we go back in time around 2 decades ago, the average portfolios were filled with pieces like advertisements, phone scripts, brochures, television spots, and more. Some praised the concepts and liked it. On the other hand there were people who pointed out what marketing company could do for potential consumers. Those changes included: After a sale, an eventual piece of collateral could gather respective feedback, congratulate the buyer or also offer required help or further information.
In the year 1997, this portfolio generated huge sales and created millions of dollars in innovative revenue for a company every year.
Just a few years later, the entire world started believing that old media was no more. We heard that print was almost dead. As a consequence of this, majority of the crowd shifted their portfolios to completely digital medium.
Today we are on the way to another massive shift, and that belongs to a world where success will come together with online as well as offline strategies.
There are companies that identify this shift early will have a benefit over the competitors.
So, the question is what is the right type of Modern Marketing Strategy for today’s businesses?
Well, current marketing strategies have evolved to a great degree. And there’s a lot more than you need to learn about modern marketing.
Important Questions to Consider when deciding on the Target Market
A Shift Back towards Print
An altogether shift to the digital world happened when new and exciting technology started taking shape. There were companies that were able to purchase banner ads in dollars and get a number of fresh leads. It does not take that much time for the digital strategy to offer effective results while decreasing costs on every new lead and increased CAC as well.
With the upcoming new leads and customers coming for such a small amount of money per person, there was a lot of follow-up coming to picture. This was completely understood since the business was going up. But with social media and its platforms attaining maturity, the competition increased. The difficulty of using this media perked up and the entire effectiveness of media fell down. This is what led to the increased costs on every lead and increased CAC as well.
Simultaneously, we have observed a shift in the purchase process. Customers now need not be dependent on sales people for any kind of information about products or services. They are able to perform all the research they wish on themselves. In fact, they can easily look for the competitors before making a final decision like buy, buy it later or don’t buy.
Change in Strategies
It won’t be wrong to say that marketing today is more about intrusion and interruption than convincing narratives or a very good laugh. We simply do not add value. If there is anything we just take it away.
For most of us, this is a kind of marketing that we have grown up with, the pushy tactics, hard sales, cost strategies and all. However today, people do not want to spend money with a company that treats them like a mere number. And since our economy has shifted to the informed buyers, our strategies also need to shift.
Old is new Once Again
With so much clutter in the marketplace, sending away direct mail to the mailbox of a person has again become the best methods to reach different prospects.
Newsletters are also becoming even more necessary for a company’s marketing portfolio. When newsletters are done properly, it is a piece of mail inspiring people to look inside. To them, it is a piece of entertainment and education and not an advertisement.
When your clients open your newsletter, these should actually push them in. When you add personal stories or a friendly tone, it does not look like advertising, and your clients stop seeing it as an advertisement. It is the articles inside reinforcing it. It should not be something that is insisting on them to make a purchase rather it should make a personal contact with them.
Then, you send them a postcard, a birthday card, some handwritten notes, or maybe you put some kind of free-standing insert in the newsletter, offering them a reward for their referrals or some additional business.
Read More: – 3 Best Marketing Strategies for Small Businesses
Research, ROI, and Reuse
If you are looking for an even better output with your marketing portfolio, it is important that you research on your customers.
Online marketing is all about clicks. A perfect portfolio is about a click in the buyer’s journey. Whether it is bringing customers to raise up hands, you can give them information to show where to buy when they have decided. Most of the times, dropping just a single step can lead to devastating effects on the entire campaign. So, test properly and make it a point that you are going to make it a successful campaign.
Doing it Just once is not enough
When any of the prospects look at your portfolio, be it online or offline, it is known as a touch. And according to studies, 30% of sales happen after the fifth touch and most often after the tenth touch. This is the reason for having both online and offline drip campaigns make proper sense and increase sales eventually.
Why wait then? Let’s get on to these marketing tactics and stand out in the industry.