The challenge that any new business faces is how to attract steady customers and consistent sales. However, with the right technique and market growth strategy, a new business can find its footing, attract customers, and thrive.
While it is worthwhile to spend some ad dollars on print ads to spread awareness—perhaps by advertising in local magazines, or putting out flyers or counter cards—it’s never too early to start planning for your long-term marketing strategy!
Digital marketing is actually where businesses will get the most long-term value for their ad dollars, with the most flexibility to change and grow with your company. Learn how to start planning for your digital marketing needs:
1 | Determine your marketing goals
Every business needs to establish a marketing objective. Without clear objectives, you’re effectively throwing away money. Set realistic, quantifiable marketing goals and consider short-term and long-term horizons. The marketing objective must also align with your overall business goal.
Some examples of marketing goals include:
- Boost brand awareness
- Get high-quality leads
- Get new customers
- Boost website traffic
- Establish industry authority
- Boost customer value
- Increase brand engagement
- Increase revenue
- Improve internal brand
2 | Research your market
Hopefully before starting your business, you’ve done some effective market research. However, there’s no such thing as too much research! Clients’ needs are always changing, and you need to be adaptable to their changing lifestyles and preferences. Understanding your audience means more effective marketing and money management.
Some helpful data to know about your customer base:
- LIFETIME VALUE: how much they are likely to spend with you as long as they remain a client
Research makes it simpler to create marketing content that speaks to your target audience. Plus, you can back up your claims with data and increase your authenticity.
3 | Know your USP
What sets you apart from your peers? That’s your USP (unique selling proposition). Identify why customers gravitate to your products or services and not the competition. Your USP is a reflection of your special skills and knowledge.
To develop your USP, try answering questions such as:
- What features of your goods or services do you love the most?
- What unique skills or expertise do you have?
- What pulls customers to your business?
- How do consumers benefit from using your products or services?
- Which features do you often emphasize when introducing your business to new people?
4 | Build your company’s brand
Regardless of size, every business needs a brand. There is more to a brand than a simple tagline, logo, and color. A well-defined brand effectively communicates who you are, what you represent, and what you can provide to your target audience.
Some key aspects of brand development:
- Visual identity (logo design, colors, photography, etc)
- Tone (what personality comes through in text, such as on your website or in ads)
- Core values (what essential beliefs are at the core of your operation?)
- Customer experience (online and in person, what can customers come to expect when they interact with your business?)
5 | Choose your marketing avenues
There are many types of digital marketing avenues. Choose what aligns with your target audience. You can have more than one.
Common digital marketing services include:
- Pay per click ads on Google
- Social media marketing
- Establishing a social media presence
- Email marketing campaigns
- A branded website with effective landing pages
6 | Establish your budget (seriously, know your budget!)
To be effective, you WILL need to earmark money for your marketing plans. If you plan to hire a digital marketing agency, your budget is crucial information to bring to any phone call or meeting. Marketing services can cost anywhere from a few hundred a month to tens of thousands, so figure out what you can comfortably afford to put into your marketing every month, and don’t be afraid to shop that around between agencies to see who has the largest variety of services and experience.
Your digital marketing budget should cover things like:
- Construction and upkeep of websites
- SEO strategies
- Paid advertisements
- Social media management
- Employing a marketing team
7 | Keep your devoted clients happy.
Taking good care and rewarding your customers is crucial to your reputation, because clients are the foundation of your business’s success. Offering top-notch customer service may separate you from your peers and keep customers coming back.
Customer loyalty-building techniques include:
- Communicating with customers regularly through blogs, social media, or e-news
- Educating staff on basic sale processes and customer care
- Utilizing customer complaints and feedback to enhance services
- Offering after-sales service
- Keeping your brand promises
- Providing a consistent brand and product experience
- Going above and beyond to provide superior goods and services
8 | Finally, don’t neglect monitoring and review
Review your sales data regularly, keep an eye on consumer behavior throughout an advertising campaign, and then update your marketing strategies accordingly. To evaluate the success of your digital marketing campaigns, you will need tools like Google Analytics to track data over time.
Analyze the competition too. If your peers are thriving more than you, investigate their products, services, and marketing strategies and see what they are doing differently. Then try to improve your business and marketing plans.
When it comes to data and analytics, this is where hiring an agency can really come through. They often have access to extensive paid tools for market research, plus the experience to evaluate that data and report what is or isn’t working. If you have all your boxes checked and want to start gathering info on hiring a digital marketing team, call our team at Red Arrow Marketing! We work with clients in DFW and all over the country to make your ad dollars work for you.