“My sales are suffering because I can’t get consumers through the front door. So I had to make some cutbacks in marketing…”
The above statement gets said a lot in businesses. During this shaky economic time, many businesses are struggling to turn a profit and stay in the black. In an effort to keep operations running, they will cut back on spending.
This includes laying off employees and ordering less inventory. But one of the things that gets affected first, for some strange reason, is the company’s marketing budget. As one of the last things that should be reduced, a business will usually cut back on their marketing techniques to divert the money to other business operations.
Contrary to what you may this, this is a big business no-no. Cutting back on marketing results in reducing the number of potential customers who learn about and become interested in buying your products. There’s nothing wrong with reorganizing and changing your marketing strategy, such as deciding to utilize cloud marketing software to handle your marketing channels. But eliminating marketing spend completely would be the death knell for your failing business.
Market To The Demographic Who Will Buy Your Product
Dissect your marketing strategy reports and determine what techniques have worked and which haven’t. Find out the reason why the strategy failed, or at least isn’t doing as well as it should. It could be as simple a matter of not marketing to the right demographic.
Demographic marketing is targeting your ads and promotions toward a certain age group, gender, income level, educational level, and other specific factors. You can determine your marketing demographic from your sales reports and national marketing reports for your industry.
If you see that you are not reaching your demographic, then change your marketing strategy to target these potential customers. If you have thoroughly saturated this demographic with your marketing campaign, determine if there are other demographics you can target. It’s also important to promote your product through all available marketing channels and use cloud marketing software to manage your channel campaigns.
Marketing Strategies Are Still Slow In Targeting Mobile Devices
Mobile devices are everywhere. People are watching movies on their tablets at the park and are reading books on smartphones while riding the bus. Use a successful marketing strategy combined with geolocation technology to target mobile device users who are in the general vicinity to your business.
By developing pay-per-click ad networks and search engine related ads that appear in the search results, you will reach mobile device users who will find out about your business, become interested in your product, and walk into your storefront because you are close by. You have the potential of drawing in new customers who will become loyal customers by focusing on these successful marketing techniques.
Bob Griffin writes about marketing, software, and more.