Marketing principles guide your marketing strategy and help your business stand out from the competition.
Anytime you switch on the news, go through your cell phone or take a drive to McDonald’s, you are bombarded with ads. There’s no escaping them. So how can your business stand out from the competition? It’s simple – create awareness, drive conversions and focus on retention.
Just use these 3 marketing principles as a guide in creating an effective marketing strategy and campaign.
Marketing Principles #1. Create awareness
If you want people to know about your product, get it in front of them. Place images, video or text about it in front of as many people as you can. The more people that hear or see it, the more interest and attention you’ll get.
You can create awareness through both traditional and new-age digital methods. Ads in newspapers, TV and the radio might sound outdated, but they are still very effective. Combine them with Search Engine Optimization (SEO), social media ads and media marketing, and you’ll have lots of eyes and ears tuned to your product.
Marketing Principles #2. Drive conversions
When you increase awareness of your product, you increase traffic to your brand. So, be prepared to meet that curiosity with good products and a friendly customer experience.
Have a welcoming front desk, customer support helpline or website ready to answer any questions. Because, for example, even if you increase traffic to your website to 100,000 visitors per day, you won’t be having 100,000 customers. Unless they find something that suits their need, they’ll be off your website in less than 10 seconds.
The key to conversions is simplicity. Declutter your website, give them essential information, and don’t be irrelevant. If you’re targeting the right audience, you should be attracting people with a specific need or want. Make it easy for them to fulfill that and reduce barriers that might sour their buying experience – like slow loading pages or unfriendly salespeople.
Marketing Principles #3. Retention
A major lesson taught to all business students is,
It’s more expensive to get a new customer than to retain an existing one.
Just because you’ve finally landed those customers you were chasing, doesn’t mean you should stop paying them attention. Why do you think airlines reward frequent flyers with free upgrades and hotel stays? It’s a small price for them because the cost savings a company gets from a returning customer is always much higher than the price of acquiring a new one.