Marketing has changed… But are your strategies and executions aligned with these changes?
Even on digital platforms, many business owners are still hinged on traditional practices. And this is burning their marketing budget.
If you want to dominate 2023, your approach needs a massive update that complements contemporary marketing.
Unless you’re working with an experienced digital marketing company that will take care of this on your behalf, it’s your responsibility (and a priority) to audit your existing marketing strategies and map them against the trends of today.
Here are 10 commandments of contemporary marketing you should be following religiously if you want to win the digital game:
1) Always Respond to Your Audience
Marketing is about creating a connection with the people you are trying to reach. If you fail to respond to your audience, then they are more likely to feel ignored and un-entertained. The best way to stay in touch with your audience is by engaging in conversations on social media and, of course, responding to emails.
2) Produce More Content
Content marketing is an important aspect of modern marketing because it helps generate leads and increase sales. It's also a great way to build brand awareness and increase visibility online. When you produce more content, you can publish it on different platforms like blogs, Facebook pages, or Twitter feeds, which will help you gain more exposure in the market. You should also consider posting videos on YouTube or Vimeo as well as creating infographics for each topic that are central to your niche.
3) Use Marketing Tools for Higher Agility
Marketing automation tools are a great way to make sure that your business stays up-to-date with its marketing efforts without having to spend time doing it manually or manually updating databases. Repetitive and low-value tasks are often a waste of time and money for small businesses that don't have enough resources at their disposal yet! So, explore different types of digital marketing tools that fit your use cases. Don't rely on just one general tool. When needed, invest in dedicated solutions that cater to different marketing functions. This is key to higher efficiency and agility in the workflow.
4) Focus on Building A Community
The most important thing you can do to make sure your business is successful is to build a community that's loyal to your brand. This means more than just having customers; it means having people who share your values and want to work together for the common good of the company. You need people who feel like they belong with you, who are passionate about what you're doing, and who will go out of their way to support you. So, reinforce your marketing campaigns to not make fans or followers but to build a strong community.
5) Focus on Marketing, Not Selling
Today's consumers are savvier than ever before when it comes to buying products and services online. They want to hear from brands that they can trust, so make sure you're delivering on this promise by engaging with customers directly. And this engagement shouldn't be built around sales; you shouldn't come off as a salesperson. Instead, the conversations should revolve around providing value or helping. So, create marketing campaigns that are aimed at value generation, not selling.
6) Make Decisions Based on Data
Data-driven decision-making will help you stay ahead of the competition and ensure that you're providing the best possible experience for your customers at every stage in their journey with your brand - from acquisition to retention and upgrade. Validate all your marketing campaigns and ideas against relevant data. (This also means using the right analytics!) For optimum results, marketing strategies now need to be built on data, not intuitions or opinions.
7) Have A Larger ad Budget
If you're not willing to invest in your marketing, you'll never have a chance of success. It's important to have enough money to invest in your advertising campaigns and smooth out the results. This means spending a little more on ads than you currently do. Advertising is one of the most cost-effective ways to reach customers, and it's also a way for marketers to build brand awareness and drive sales. You can increase your chances of success by keeping your ad budget high.
8) Aggressively Track KPIs That Matter
You need to measure KPIs and make sure they're getting enough attention from your team. But these KPIs shouldn't be vanity, like the number of followers or how many likes your Tweets are getting. Instead, they should be more holistic and in line with your business growth. This can include average contract value, customer lifetime value, customer retention, sales, cost per acquisition, average sales cycle month, ARR/MRR, and more. Track these metrics to understand the true effectiveness of your marketing efforts.
9) Invest in Retargeting Campaigns
Someone saw your ad but didn't engage. Or someone added your products to the cart but didn't checkout. These people are low-hanging fruits that you can easily convert if you have the right retargeting strategy. So, invest time and resources in creating the right retargeting workflows that are tied to relevant data.
10) Keep Existing Customers Engaged for Brand Advocacy
While it may seem like every business is vying for attention, don't lose sight of your current customers who may have been loyal for years or even decades. Research shows that brands with strong relationships with their customers tend to outperform the competition. If you want to keep your brand top-of-mind with those who have been loyal from the start (and want them to advocate for your products), focus on customer service and loyalty programs that reward current customers. And don't forget about new customers who are just being introduced to your business!
These are the ten commandments of contemporary marketing. To win in 2023, you must follow these rules and create your strategies accordingly. If you need help, consult experts. For help in planning and executing campaigns, hire specialists. For instance, if you want to go on social channels like Instagram, LinkedIn and Twitter, get in touch with an experienced agency that offers SMO services India. They can offer end-to-end support, also unlocking much bigger (and accelerated) returns.