There is simply no magic formula for improving your company’s marketing performance. If you are in the middle of setting up your own business, you should get used to the ole’ “trial and error” methodology to solidify your brand.
Of course, you have to cut your losses early on. A wise business owner knows when to enter the tiger’s cage and when to run for dear life. But it is also true that to earn money. You have to know when to burn it. So here are some strategies that are worth investing your time and money in.
1. Develop your own website
Now this one’s a classic. Building your own website adheres to the tried-and-tested principle that “Content is King.” Your website allows you to post relevant content regarding your product and services.
Note that not just because you have a legitimate and promising product that means consumers would be flocking to your site to avail of it. Producing a commodity, let alone a quality product, is only half of the equation, probably even only 40% of it.
Getting your brand noticed through your website entails good SEO work. SEO, short for Search Engine Optimization, employs the usage of keywords and key phrases that are injected into a site’s published content. Integrating SEO aims to increase the website’s visibility through the search engine crawlers that find these keywords and phrases.
Placing ads inside the website also generates traffic and allows it to earn through clicks. You can also turn your website into an e-commerce site, catering to multitudes of prospective clients that have grown accustomed to online shopping.
The first step to actualizing this is to get the help of an e-commerce hosting platform. This allows your website to integrate features such as payment processing services, SSL, and shopping carts, among others.
Needless to say, your website should possess a standout aesthetic that will not only represent your brand effectively but will also separate it from the rest. It should be striking enough to make an impression on the user.
2. AI Marketing is the present and future
Artificial Intelligence (AI) for marketing should already be commonplace for businesses in 2024. This is not an appeal to join the bandwagon or a fad that will eventually fade.
AI marketing allows businesses to use non-human agents to efficiently get their brand and identity to their target audience. However, do not make the mistake of thinking that this will disregard human agency and intervention. Using AI to delegate human workers to more developmental endeavors will allow them to grow professionally.
As this is the case, Automation takes center stage in AI Marketing. This can increase your business’s marketing campaign’s potential as it reaches more people. This spares the business owner from potential human error, allowing the marketing team to focus more on productivity.
Using AI could also serve the cause of giving you more reliable insight into your prospective client’s needs and demands. AI lets you look in-depth at what they want in a product and service. This will give you the needed details to customize their user experience.
Retargeting of audiences can also be done with relative ease through AI. AI can come up with campaigns that may bear greater significance.
3. Personalize and customize for user experience
These days, highly personalized and customized user experiences have gained traction–with consumers all over opting to be served following their preferences.
When we speak of personalized experiences, businesses develop conditions that observe a prospective client’s browsing history. This takes the consumer’s search queries into account.
Data plays a major role in accomplishing this strategy. Through data, the company can determine what the client likes browsing and, naturally, what to offer them. This makes the online shopping experience highly enjoyable.
To paint a clearer picture, let’s take a look at Amazon. Suffice it to say. Its framework is innovative as it has created some current e-commerce conventions, such as the “suggested links” and “top searches.” Other international platforms even have the “suggested for you” and the “…you might like…” segments on their site. This makes the customer feel like the site is conversing with them, as a good sales clerk should do in a physical store.
Another company of note that excels in personalization is Netflix. Its algorithm can capture the genres that a subscriber usually watches. It does this through an effective product strategy that observes definite parameters.
4. Follow The “Subscription Business” Model
The Subscription Business Model is an approach that aims at customer retention more than customer acquisition. This is done by selling a product or a service that hooks customers to continue patronizing the brand.
Movie and series streaming giants like Netflix and HBO Max and music hubs like Spotify and Apple music use this business model. These companies offer different subscription packages that give subscribers various options for consuming their services. On top of that, users can choose their preferred online payment methods.
Through the subscription business model, the brands offer various products and services without charging them high fees upfront. They are given a chance to customize what they get. Through this model, the brands can establish strong ties with their customers, getting them to continue their consumption of what they offer.
5. Maximize Social Media
While this strategy is a no-brainer, making the best out of social media platforms promises great effectiveness should the marketer prove savvy enough. Using social media to advance a business’ marketing campaign provides multiple venues to reach its prospective clients. For this to happen, the brand’s account needs to accumulate a notable following that could also become its ambassadors.
Social media is also seeing a boost in its potential through the nascent NFT and Metaverse industry. With the backing of multiple celebrities and influencers, hosting a virtual event within the metaverse could place brands and companies at a marketing advantage. All in all, using social media as a marketing tool is potent to improve digital marketing performance.
The New Year is Upon Us
Surely, the marketing performance strategies discussed here are already ripe and robust to take on the challenges of 2024. If you are currently starting a business and wondering how you could get your brand out there, these strategies will prove more than helpful. While extensive mileage is not immediately guaranteed once you opt to perform any of these strategies, your business mindset will certainly change for the better. You will realize the value of listening to what your market says and how it should factor into how you conduct your business.
Chatty is a freelance writer from Manila. She finds joy in inspiring and educating others through writing. That’s why aside from her job as a language evaluator for local and international students, she spends her leisure time writing about various topics such as lifestyle, technology, and business.