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How to Choose the Right Marketing Strategy for Your Business

There are more than 150 marketing strategies. From traditional to mobile to social, there’s a myriad of marketing tactics out there, and you’ve probably tried many of them. But are you selecting the right tools? Your marketing strategy depends on your marketing goals, target audiences, personality, budget, location, and more.

So before you dive into that list and start trying them at random, here are some tips to figure out what will work for you:

  • Determine your marketing goal. Choosing the most efficient marketing strategy starts with setting a well-defined goal. What is the purpose of your marketing? Is it to build brand awareness, improve lead generation, or boost direct sales? Answering these questions will help you decide which techniques to choose. 
  • Decide your target audience. You must always keep your potential customers at the forefront of your mind. To whom are you talking to? Determine the most effective ways to connect with your customers, which includes uncovering their preferred communication channels and purchasing paths. The marketing strategies that you choose should complement the when and where of your target audiences. Note: some companies start off thinking their target is one group, only to find another audience showing interest. Don’t be afraid to switch gears. 
  • Create a marketing budget. A business with two employees is going to have a far different marketing budget than an international corporation. But both must set aside dollars each year to spend on spreading the word. Your budget will eliminate some of those 150 strategies and make others more appealing. As you grow and your marketing budget increases, you can add tactics or increase your spend on tools you are using that work. Need help? Read how to create your marketing budget.
  • Location. The real estate market mantra is “location, location, location.” In marketing, your location will affect your marketing options. For example, if you are a nationwide company, you are going to approach Pay Per Click differently than a Raleigh lawyer seeking clients within a 10-mile radius. Further, some techniques work better in some geographical locations than others.
  • Consider your industry. Lawyers and dentists still rely on direct mail to reach potential customers. This strategy works for them because people often choose a dentist based on a location and a lawyer only when they need one (after an accident, for example). Direct mail often works for home services as well, but if you’re a freelance photographer, snail mail might not be a worthy place to spend your money.

Choose wisely. While you can  implement as many marketing strategies as you can afford, doing so is not necessarily the wisest decision. Aside from the high cost, you may struggle to figure out which strategies are working and which are a waste of money.

Marketing is something that, by nature, must be repeated several times and be executed on an ongoing basis to be effective. Choosing the right marketing activities can generate sales and brand awareness. Contact us for guidance on the right marketing strategy.