Marketing used to be a simple affair. Business had limited options when it came to promoting their goods and services – namely print, radio and television. The introduction of the internet and it’s ever-growing popularity has opened up a whole host of new opportunities for business to reach their target audiences, opportunities that are fast becoming essential elements of a holistic marketing campaign. The great news is that the fundamental skills required to execute the more traditional marketing campaigns are mirrored in the digital arena. Here are 5 well-known strategies you can start applying to your online campaigns today:
1. Marketing Mix – Product, Price, Promotion and Place
The 4 P’s of marketing have been around since the 1960’s and are still applicable today:
•Product – Certain products and services suit online purchase but all business can benefit from showcasing their offerings online. Say you work as a real estate agent your product delivered online might be a free eBook about your industry. The result is an increased status and greater lead generation.
•Price – A simple Google search is all it takes for consumers to access price comparison information. With this is mind, you should ensure that you know your main competitors price points and position yourself accordingly.
•Promotion – Online advertising offers you the opportunity to promote your goods/services in a trackable, highly targeted and cost effective way. Make sure you explore all the options available including AdWords and Facebook advertising.
•Place – Consider how customers can access your offerings. Do you have a website? Have you split tested this to find your best sales conversion rate? Have you optimised this with heat tracking technology to see exactly where customers are clicking? If your customers are searching on their smart phones ensure your website is mobile optimised.
2. Transactional vs Relationship Marketing
A transactional marketing campaign is all about a one time sale often with the goal of maximising profit and then moving onto the next customer (e.g. Real Estate). The internet has changed transactional marketing however because the customer now has the ability to rate, review and affect future sales for the business. Word of mouth is no longer limited to inner circles of friends but can extend right around the world. For this reason even if it appears that you will never deal with that client again it pays to ensure their satisfaction with a follow up call or email after the transaction. This will help maintain your reputation and brand image online.
Relationship marketing on the other hand is all about building trust and rapport with your customers with the view of creating ongoing business. Thankfully the internet makes this easier than ever. Keep your products or services at the forefront of customers minds with well timed email campaigns and engage in real-time via social media. Building this personal connection will hopefully turn your clients into brand advocates who will start promoting your products themselves!
3. Unique Selling Point (USP)
To remain sustainably competitive every business needs USP(s). These are what differentiates you from your competitors and adds value to your good or service. It might be fast shipping, same day quotes, premium quality, low prices or customisable designs. It is important that you identify your USP and then convey this to your target audience across all available channels.
Marketing is all about delivering a key message of value and this principle transcends all platforms. Remember that just like a print advertisement and online advert offers limited space and sits amongst your competitors. It is vital to stand out and make your message clear and concise.
4. A Clear Call-To-Action (CTA)
Always ensure that your CTA is simple and easily identifiable. It may take the form of your business phone number, email address, enquiry form or a combination of all of these. It is recommended that businesses place a CTA on every single page of their website so consumers follow the path of conversion. Google AdWords even offers advertisers the opportunity to place a variety of CTAs in their adverts via ad extensions – another tool businesses can use to stand out from their competition.
5. Consumer Involvement
Keep in mind that the more ‘involved’ a customer is in a product or service the more time they will spend in the research phase of the buyers cycle. This will ultimately come down to how significant the purchase is to the consumers life. Take for example someone buying a new car, a costly purchase and something that will most likely affect the customer for the next 10 years. They are likely to spend weeks evaluating options, shopping around for the best price and asking friends for advice.
Remember your customers ‘involvement’ level for your product or service. It may not be as significant as that of a car but your audience may need some form of education to aid the decision to buy. You just have to identify the appropriate level of education and the most suitable method of delivery. Simple ways to do this are blog articles and eNewsletter – both proven to alleviate consumer concerns and boost confidence in the path to purchase.
By implementing these 5 traditional marketing principles into your digital strategy your campaigns will get off to a great start. For more advice and tips on how to further improve the ROI of your online efforts call one of Digital Strategy Specialists on 1300 859 600.