Every business is reliant on marketing – that’s a fact!
However, with thousands of different techniques, methods, and approaches to choose from, it can be overwhelming.
The truth is to keep it simple. Yes, established organizations are going to be implementing advanced marketing strategies and spending big bucks on their campaigns, but they all had to start somewhere.
It began with a set of scalable techniques that welcome growth and cater for a diverse range of marketing needs.
This article is going to arm you with 5 important marketing motives, which you can implement today, that will allow you to win.
1. Free Trial
Offering a free trial is like making low risk, high reward investment.
The only real outcome is to win big by earning a new paying customer, like the ones which choose to leave and go elsewhere, you never actually knew or made any commitments with.
The global average shopping cart abandonment rate is 69.57% – but why?
A lot of the time customers don’t complete their purchase due to commitment. Even if a product has got 100 five-star reviews and pages of information, the majority of first-time customers can’t justify spending money on something they haven’t even tested.
Imagine you have 100,000 people visit your website this month, either purchasing a product or leaving it in their cart. According to the statistics above, only 30,430 of those visitors would have completed their purchase, leaving 69,750 visitors to abandon their carts.
Understandably, there are multiple reasons why visitors abandon their carts, but offering a free trial is going to dramatically reduce it.
Even if a free trial converts 10% of the visitors who abandoned their carts, that’s almost another 7000 new customers and purchases you have received.
You would be crazy not to try it!
2. Become An Expert
Simply reading this article means you are passionate about your trade, looking for new ways to help grow your business and develop as an individual.
Now, to become an expert, you don’t have to be the most intelligent person in the world, but you must know your stuff.
Understand your industry and its components in depth, become a source of knowledge that people can feed off of. Even sharing your opinion on technical matters shows you are engaged in what you do.
Delivering informative and educational content online is what will set you apart from your competitors, and show your audience you know exactly what you are talking about.
What else can becoming an expert bring?
- New customers – People are more likely to purchase a product from someone who knows what they are talking about
- Testimonials – The more expertise you share, the more others are going to support you. This will give you and your business a strong reputation an authoritative position in the market
- Reduced costs – If you are well known in your industry, your name is going to gain more attention. This attention is going to rub off on your business and therefore lessen the need for marketing
3. Give Back To The Community
Success in the modern world is linked with monetary wealth, which should not define success at all – it’s measured differently by everyone.
Mental wellbeing is a pressing issue which many people around the globe deal with each year. In fact, 1 in 4 people in the UK suffer from mental illness every year, and you should do your bit to help.
Having a physical, face to face relationship with your customers envisages trust and loyalty.
Giving back to the community can:
- Increase brand visibility – Word of mouth marking that stems from the physical relationships you are going to build and is a really effective way of increasing your brand awareness. 64% of marketing executives indicated that word of mouth is the most effective form of marketing
- Show your commitment – Communication is vital to a successful business, so what better to do than talk directly to your customers. Stating your commitment to them and showing how much you value them individually will allow them to give you their loyalty in return
- Gather feedback – Once you have earnt the trust of your customers, they are going to grow alongside you. This will encourage them to leave honest feedback in the best interest of your business.
Although connecting with your community is going to require more effort and attention than running an advertisement campaign from your computer, there is no better way to build genuine relationships with your customers and earn their approval.
4. Play Smarter Than Your Competitors
Playing smarter than your competitors involves a 4 step process, called ADIR:
1. Analyze – Understanding the way your competitors operate in your industry will allow you to differentiate. Focusing on the types of content they produce and how they engage with customers can identify what you are doing wrong, but also open opportunities for your business to excel
2. Design – When you feel like you know everything about your competitors, it’s time to design your plan of attack. Growing in a similar way to your opposition is sustainable, but it is important to introduce a personal touch and show customers how you are unique
3. Implement – It’s time to take action and implement your design. Only begin this process after you have invested a considerable amount of time and you are ready – don’t rush
4. Review – Measuring your performance is key to rise above your competitors. It’s likely that techniques will change and new trends will occur, so stay up to date
Playing smart does not mean spending more money than your competitors, it means optimizing the resources at your disposal and making use of every second available.
Here are some great tools for competitor analysis:
5. Industry Partnerships
Teaming up with another business that offers a product/service that compliments your own is exciting. At the end of the day, the more value that’s provided to your customers, the better.
It will allow you to produce content that both audiences are going to engage with. This collaboration is likely to introduce audience members from both sides together, resulting in new customers for your business.
How do you pick the right partner?
It all comes down to your overall objective. If you’re trying to increase your sales, you probably won’t work with a close competitor. Whereas, if you wanted to increase your brand awareness, then collaborating with a partner like this could work.
Here are some examples of industry partnerships related to marketing :
- Customer retention – Offering promotions to each of your customers as an incentive to stay
- Content marketing – Creating content to gain new audience members and convert them into customers
- Distribution – Producing a co-product or bundle package with contributions from each business is an effective way to reach a shared target audience
- Affiliate – This involves partnering with an advertiser or a publisher, to promote your product/service in a certain location, like newsletters, articles and other online sites. Each purchase is tracked and the promoter receives a commission
There are lots of different ways you can partner with other businesses in your industry, but you should select the one that best suits your objectives.
Digital Marketing is extremely important for the growth of your business and offering unique value that promotes customer engagement in a different way to your competitors will give you a sustainable advantage.
If you had forgotten, here are the points we covered in this article:
- Free Trial
- Become An Expert
- Give Back To The Community
- Play Smarter Than Your Competitors
- Industry Partnerships
Whatever your objectives, marketing’s solution must always start with value. You must invest time and care into your consumers before they invest their time, trust and money into your business.
About the author
The Good Marketer is a Marketing Agency in London that drives more traffic, generates conversions and increases sales for Small-To-Medium Sized Businesses.