Why is a digital marketing strategy so important for success? The key to a successful growing business lies in its marketing, and these days this means a digital marketing strategy. With a consumer rebound expected as confidence returns, many business owners are choosing to capitalize on this to grow their businesses – both online and offline. With the help of an effective digital marketing strategy growing businesses can begin to establish their presence in new markets, establish new client relations, and create brand awareness around your business.
For a business that is establishing itself in new markets, marketing can translate interest into much-needed sales. Whether you’re growing your business online or looking to expand your brick-and-mortar presence, capitalizing on the right marketing strategies during your business growth can expedite and solidify your business’ success.
Tap Into The Digital Marketing Trends Your Expanded Audience Frequents
Digital marketing is not only cost-effective, but is also it is effective in delivering conversion – a key target for a growing business. According to the State of Inbound Marketing Report by HubSpot, digital marketing tools like SEO and social media marketing deliver some of the highest conversion rates out there. However, it is not enough to rely on digital marketing trends to help grow your company. Businesses must tailor their online marketing campaigns to the interests of the target audience.
Also, your digital marketing tactics should translate well offline. For instance, working with an SEO company can help you to improve your local SEO presence if you want to boost your local visibility. Alternatively, you could use content marketing to create tailored, relevant content for your market niche. In other words, target your marketing like you are targeting your growth.
Clarify Your Business Goals So Your Marketing Team Doesn’t Need To
Businesses that set goals for their marketing campaigns are 429 percent more likely to achieve success, according to CoSchedule’s 2018 marketing statistics. Before you pursue business growth, you need to set clear business growth goals around markers such as revenue, market share, or units sold. The importance of this for your marketing team is that it does not leave them wondering what direction the business is moving in. From these goals, they can then proceed to draft appropriate marketing strategies that align with your goals and your market.
For instance, if you are looking to grow within your existing market by 5 percent (expand market share), lead generation and new customer acquisition will feature heavily in your marketing strategy. Marketers may also want to focus on brand positioning and consistency across their efforts to instill trust and authenticity.
Pick A Standard List Of KPIs To Measure Marketing Progress Upfront
Deciding on a marketing strategy does not necessarily mean it will work – or be as effective as you need it to be. Therefore, just like a business growth plan, you need to be prepared to be flexible and anticipate changes in the market. To do this, businesses need to regularly monitor their marketing strategies. Some experts recommend reviewing them quarterly.
To make the process easier and more streamlined, choose a list of uniform KPIs to measure your marketing strategy’s success. Ideally, you want to choose a list of one to five marketing KPIs to begin with, such as organic traffic growth, cost per lead, and inbound ROI. Remember to keep them stable and consistent. You need to be able to compare them overtime for the result to have any significant meaning.
Growing your business is a time of transformation and constant change. Once you know what parts of your business you want to expand, the right marketing strategy can support you in achieving these goals. It all begins with setting clear growth goals.
