Establishing a good marketing strategy is essential to running a successful business. A good marketing strategy will provide you with the right data to help you better understand your overall revenue as well as the type of clientele that is actually responding to your marketing strategy. To obtain this information, you will need trackable marketing strategies. But how do you achieve this? Take a look at our top three recommendations to find out.
Email marketing is one of the few proven strategies used by both small and large businesses to acquire customers. A well-crafted email marketing strategy can provide you with valuable data that can result in repeat customers. However, common mistakes such as buying an email list or simply making it very generic and forgetful can cost your company valuable time and money. One of the best ways to utilize email marketing is to test various sales pitches and visuals with your customers. You’ll also want to make sure you personalize your emails. You can do this by adding the person’s name as well as delivering your email within their time zone to increase the chance of it being opened.
Direct Mail Marketing
Who says physical mail marketing is dead? Direct mail marketing can be a very effective way to obtain new customers; you just need the right tools to take advantage of it. This means sending out a few hundred flyers to test out the effectiveness of your approach. Another thing to keep in mind is the length of your message, people are not looking through their junk mail, and when they do they read them, you want your message to be quick and effective. Outline any deals or discounts in a simple to understand format. Don’t forget to proofread before sending out hundreds or thousands of letters. Not only will this look unprofessional, but they will most likely never take a second look at your advertising again. In addition, don’t mail to everyone and anyone. You know who your potential customers are, so begin with them first. Roughly 5% of mail is undeliverable, so it might be helpful to utilize address verification to ensure that your mail is arriving where you want it to.
Direct Response Marketing
When people hear about direct response marketing, they often think of an email. Although that has been the traditional way to do it, technology has allowed us to do it in more modern ways For example, one method of direct response marketing you might see today is an e-commerce ad on Facebook or Instagram. With direct response marketing you can not only target your preferred audience, but once people start interacting with your ad, you can accumulate data. This data can then be utilized to track which of your customers are most likely to interact with your company.
Tracking the effectiveness of your marketing strategy is one of the most crucial things you can do to ensure the survival of your company. Therefore, it is vital that you understand not only the various mediums available to you but also how they can be utilized to provide you with the most effective results.