The global marketplace has never been easier to reach. Products and services of all varieties can be marketed, sold and distributed from a mobile phone while sitting in a coffee shop.
5 easy ways you can turn marketing efforts into more sales
But how can you determine the best marketing tools for your unique situation? And since the point of marketing is to build brand awareness, generate leads and increase sales, how do you market properly in this complex environment?
Let me share with you five marketing tips that will connect to sales and help boost your bottom line results.
Tip #1: Identify your target audience
It all starts here. And I’m often surprised at the number of companies and entrepreneurs who skip this step. They don’t know who they are trying to reach.
If you think “everybody” can use your product, then you need to do more research fast.
There has to be a clearly defined target consumer for any service or product.
Tip #2: Know the total market size of your target universe
This way you can determine how much money is really out there for you to go after.
Sometimes a niche can be too small for you to meet your revenue goals.
If you’re targeting Asians in the US and the Census Bureau reports there are 15 million Asian Americans, then that’s the maximum size of your target universe.
If you’re targeting Chinese Americans and they represent 3.79 million of the Asian American pool that is your maximum audience size.
You won’t be able to sell to 6 million Chinese Americans because they don’t exist.
Tip #3: Where is your target audience located?
Knowing where your target audience resides is related to the total market size.
You want to “fish where the fish are.” If they’re online, you need to be there. If they don’t trust the internet or computers, then you need strong offline marketing tactics.
Your job is to know where your audience spends their time. Where do they network? Are they concentrated geographically? Do they attend certain events? Where are they on Sunday afternoons and Monday mornings?
By understanding the location of your audience your marketing efforts can be fine-tuned to deliver maximum value and results.
Tip #4: What percentage of your target market is reachable?
It is rarely possible to reach 100 percent of your target audience.
First, you need to know how you can reach them. Can you meet them at their mosque or church? Can you find their contact information on an existing email list? Can you buy an offline billboard that they’ll drive pass on their way to work? Can you do geo-fencing and connect with them while they’re in a physical location or geographic range?
Knowing what percentage of your target market you can effectively reach allows you to make realistic forecasts and set effective budgets.
Tip #5: What is your marketing budget?
Most likely you will need to create a mix of organic and paid marketing tactics.
This means you will need to know the cost of creating a campaign and executing the plan. The most effective campaigns are targeted to a specific audience and time frame.
Are there seasonal peaks to consider? For example, holiday advertising rates are more expensive because of higher demand.
So if radio advertising is part of your campaign, adjust this for higher cost. Similarly, you may have to bid higher amounts if you plan to use search advertising.
Competition for keywords is more intense and rates get higher during peak seasons and events. Be aware and budget accordingly.
To sum up
The five tips above must be implemented in your B2B or B2C marketing plans. And they can be applied to traditional or digital marketing efforts. In either case they will make a stronger connection between your marketing efforts and sales results.
Get started suing them today. And let me know your thoughts in the comments.