If you consult any marketer to explain his tricks of the trade, he will say that it is about placing your product at the right place and at the right time. However, it is not as easy as a marketer makes it sound. You need the right approach to create a marketing mix that will help you win new consumers while sustaining your current customer’s value over a long period. Here is how you can get the perfect combination of the marketing mix.
1. Understand your products and services
It is important to understand the value of the products you sell or the services you offer. How does your product cater to an audience? What problem does it solve and how does it do it? Once you understand your products and services well, you will be able to market the product by sorting out all the glitches.
2. Do not skimp on the marketing budget
A difficult aspect of a marketing campaign is not how to promote a product or service but how to build a budget. You need to be generous when you plan a marketing budget when you are starting out. If you have a set of historical data, you need to analyze the budget from last year and explore if the marketing requirements were achieved. Kevin Sykes of Adomatic explains how spending more money on creating the right shopping campaign will get you better traffic, while allowing you to spend less on low-intent visitors.
3. Know your audience
Before you integrate the marketing campaign into your business vertical, you need to identify the target audience. It is advisable to build a profile of the audience you want to target and write down the different types of personas you want to reach out to. Now you will be able to decide on the channel which will help you promote the products.
4. Rely on different tools
There are many tools and marketing channels you can use. Do not settle for a single marketing method. Combine it with different channels and tools. When starting a new line of products, you could use social media to promote them. You can also use marketing tools like pay per click to get more visitors on your website.
5. Build realistic sales goals
Always focus on realistic sales goals that are measurable and achievable. Do not build very high expectations when you are starting out. Try to balance the ROI and your marketing campaigns and track the performance of each campaign against the target you have set. If you find it necessary to make any changes to the campaign, do it and see the results. Keep a constant track on the performance of a campaign.
You cannot achieve overnight results when it comes to marketing your products or services. You need to understand that the right marketing strategy will give you results but it will take some time. Choosing the right marketing channels can make a significant difference.