Whilst the cost of marketing development strategies is high, so is the cost of ignoring strategic marketing. Creating new marketing collateral may seem like a cost-effective marketing plan. However, if a business is to succeed where marketing development has spurred a change in the way advertising and promotions are approached, there has to be change in the way marketing goals are aligned and campaigns implemented. So, how has business changed for the better thanks to marketing development? As marketing has become more digital, personalised and advanced, the markets have become more global and easily accessible. Businesses are facing new marketing and advertising realities. Here they are:
#1 Importance of Increasing Visibility
If only one aspect of marketing is stressed, such as creating a brochure or coming up with an ad, businesses cannot hope to prosper. Successful marketing campaigns are now built on visibility. If all the marketing budget is poured into just one marketing component, your business stands the risk of losing customers. Brochures may be great, but if your audience is now digital and eagerly looking for a website or social media presence, your brand has clearly missed the bus. A marketing plan that is comprehensive can help you to identify the platforms your customers use and focus on outreach in a way that generates a massive response.
#2 Importance of Marketing Efficiency
With marketing development progressing at lightning fast speeds, even a single marketing tool requires a lot of investment nowadays in terms of message development, attractive design, spell binding photography, well structured project management and more. Get the most out of your marketing budget by leveraging a project against multiple platforms, therefore. A business has become more multi dimensional as a result of this.
For example, photographs taken for a brochure could be used on the company site or direct mailer. Branded logos of the website can be added to social media profiles. Case studies can be repurposed and remarketed as blog posts and newsletters online. Businesses are forced to reinvent their marketing strategies and use innovative ways to squeeze every marketing penny and get the best value for money..
#3 The Importance of Consistent Branding
When marketing messages are piecemeal, it is easy to lose brand, messaging and design consistency. This is more so if different vendors are producing different material. A mix of marketing components don’t play out well together, if the messaging is not consistent and unified. With the rise in marketing complexities and advanced audience preferences, businesses are increasingly utilising the best of both worlds and making the switch to integrated marketing. Each component, therefore, aligns with the business goal. Even if the budget produces only a few components in one go, a steady inventory of tools build up, reinforcing a consistent marketing message.
Businesses like Nike, Porsche and Coca-Cola are increasingly opting for integrated marketing and reaping the benefits of tailoring marketing messages that appeal to both conventional Baby Boomers and enterprising digital Millennials.
#4 The Importance of Metrics and Measurable Results
If you send a direct mailer to 200 customers and only 5 respond, is that good or bad? If the 5 customers net you profits of 75%, then it’s good, but considering 195 customers missed out on the branding message, and the impact it had on your capacity to generate more profits, it’s not that good, is it? This example underscores the importance of using information and metrics effectively.
Without specifying and measuring if the goals for marketing outreach have been met and analysing what is working for your business and what is not, no company in the age of personalised marketing and Big Data can hope to get ahead.
By investing the time to create a marketing development plan, your business can get the benefits of keeping brand building on track,messaging on the right path and goals within your reach.
#5 The Importance of Understanding the Big Picture
Businesses are becoming increasingly aware that brand building is not a piecemeal effort and it requires seeing the big picture for assessing marketing success across the year. A proper plan outlines not just the budgets, but also the estimated timelines for tasks and projects. Proper resource allocation and adjustments are the end result. The plan also lines up tasks and identifies future tasks, too.
Holding your team accountable for brand promotions and each aspect of the campaign has also become a staple with businesses in present marketing realities. The marketing plans have a robust and flexible architecture and change as per requirements, consequently. Consequently, businesses are tracking adjustments through the execution of the plan and reviewing to determine the next steps.
#6 The Importance of a Targeted Approach
Marketing strategies vary across industries and businesses. Consequently, each business is now understanding the importance of a targeted approach, especially in the era of customisation, personalisation and digital transparency. Marketing reviews are increasingly common on social media. Marketing strategies can help businesses to get more brand exposure and a wider audience reach. Moreover, targeted campaigns also get the message out to customers who matter most to success.
Now, businesses are focusing their marketing efforts and strategies on niches instead of going in for mass market. Additionally, marketing development is dividing an ocean of customers into segments that are navigable and each can be effectively addressed so that the marketing message is attractive. The result is an effective campaign amongst target segments.
Currently, marketing strategies have developed to a point where businesses get information they otherwise would not have. Marketing strategies are increasingly yielding actionable insights, as businesses gain better understanding of the market, how it works, who their clients really are and a lot more market and business intelligence. Strategies are also helping individual businesses to form goals.
Marketing strategies are also helping in the creation of attention to performance and realistic goal setting. As business owners are increasingly challenged on different scores, marketing development has made it possible to battle all fronts and emerge a clear winner, thanks to advanced marketing tools and technologies.