Finding the proper Marketing and Advertising Strategy
In order to understand what types of marketing or advertising methods and practices are the best fit for your particular organization, you have to first understand and identify a few key facts. First, what is the mission and intended outcome of your marketing and advertising efforts? If your company is interested in expanding your brand within your existing customer base, introducing a new product line, business line, or maybe a new business segment; your marketing strategy might differ from that of a company interested in a quick lead generation. Additionally, it is extremely critical to understand your customer and industry demographics before you commence the planning for your Marketing and Advertising Strategy (Age, income, geography, interests) the competitiveness of your industry and targeted geographic area. Certain markets may provide a quicker result with marketing efforts than others. For more information on Determining Your Budget, click here.
Based on the results of this fact finding mission, they will determine which marketing practices will work for you in support of your mission. For example, if your customer demographic consists of mostly clients over the age of 60, you would most likely realize the greatest marketing benefit with Print Advertising, Local market signage, Newspaper, Radio, Television, or Magazine article marketing. Digital marketing offerings would be less as important with your customer base.
Marketing and Advertising Strategy – Conversely, if your client base consists of mostly customers in the age range of 18-45, your company will be positively impacted if you employ a strong digital marketing strategy consisting of Search Engine Optimization, Banner Advertisements with relevant and key websites, Email Marketing, and Social Media Marketing.
Another key factor is realizing that a diversified strategy will provide the best benefit. It is important to employ different marketing services once you fully understand your client & industry demographics and then track their success to ensure your company invests money in the best possible manner. Additionally, spend time researching which vendors are the best fit for your company and vet them well. If you hire an in-house employee to support you with marketing, understand their limitations, knowledge, and educational background. If you outsource to an agency, you will need to understand what their capabilities are and what specific or exact services the company will provide for your company. At the end of the day, as the business owner or leader, you are ultimately accountable for your decisions. Certainly, it will pay off in increased sales and profitability for your organization if you hire the best resource to improve your marketing efforts.
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