Marketing can be complicated. Not only might people within the business have opposing ideas on how to promote a product or service, but brands across the industry will more than likely have different marketing budgets. As a result, it might feel difficult to compete with your more established rivals.
On top of the above, you might find it challenging to get noticed in an increasingly saturated market. If you want to acquire more customers in 2019, find out why your marketing strategy isn’t working and how you can fix it.
A Lack of Strategy Refinement
While a marketing strategy might sound like a great idea in a boardroom, it might not be effective after execution. Trial and error can help you to develop a successful strategy, as you should collect data from every campaign to refine your future marketing efforts.
If you are failing to do so, the chances are your hard work will not pay off.
To build a successful online strategy, you must review:
- The consumer journeys
- Data analytics
- The online behavior of your buyer personas
- How each campaign addresses your customers’ pain points
You Focus on the Wrong Customers
If you want to generate a greater return on your marketing, you must focus most of your company’s time on your most lucrative buyer personas.
Not all potential customers are equal, so it is vital to spend more time targeting potential customers who can help grow your annual profits.
However, ensure you do not completely neglect another persona, which is why your team should focus 20% of their time focusing on your less lucrative customers.
You Fail to Move with the Times
If you are running a business online, you need to adapt to its many changes regularly. For example, if you fail to optimize your landing pages or create a mobile-friendly website, you might struggle to rank highly in the search engines.
It is imperative you routinely familiarize yourself with the latest changes in consumer demand, across social media and in the search engines to ensure your brand flourishes online.
For example, you should launch an effective SEO campaign to boost your ranking, continually learn about the latest social media tactics, and find the best DesignRush software development company to launch an easy to navigate app that encourages brand engagement.
You’re Promoting on the Wrong Channels
36% of marketers have stated they can’t accurately attribute conversion to the right online marketing channel, which can ultimately lead to misplaced resources that can slow down your company’s growth.
Ensure every campaign you run is successful by identifying the platform that generates the greatest interactions per post. For example, a social media post might have boosted your reach and conversion rate on Facebook, but the same post might have received minimal engagement on LinkedIn.
By analyzing the data on each platform, you will no longer waste a considerable amount of time and resources on the wrong channels, so your business will generate a greater return on its investment.