How to identify the best marketing techniques for your business

In marketing, there’s only one thing that’s inevitable: change. As the world becomes increasingly digital, consumer behaviors are constantly evolving. If your marketing doesn’t evolve with your customer journey, you might just get left in the dust.

While it’s important to keep up with industry trends, implementing new techniques randomly will set you up for failure. Just because a strategy worked well for one company doesn’t mean it’s the right strategy for yours. It could be, but you’ll need to critically evaluate new techniques with your team before putting them into action.

Unsure how to pinpoint the right marketing techniques for your business? Here are a few things to keep in mind before you begin testing new tactics.

LEARN THE LESSONS OF HISTORY 

Before making any changes to your current marketing strategy, review which techniques have worked in the past and which haven’t. Then have a conversation with your team about why those techniques resulted in those particular outcomes. By analyzing your past successes and failures, you’ll be better equipped to make the right changes moving forward.

When having these conversations, I try to include not only my marketing folks, but also teammates who have sales and data-visualization experience. This way, I can learn what trends they’ve noticed since they began working for the company. These team members have unique perspectives that can inform our marketing decisions and help us avoid mistakes.

In a Workplace Collaboration Survey from Fierce, 86% of respondents attributed workplace failures to a lack of collaboration or ineffective communication. To help prevent failed marketing initiatives, I solicit diverse perspectives from my team whenever possible.

READ THE ROOM… CONSTANTLY

Why do some digital marketing techniques work one day but no longer work the next? I was recently on a conference call when a vendor asked a client what the military alphabet was. Because the client was a brand that mainly services the military, I was puzzled by the vendor’s lack of self-awareness in reading the room. However, people often forget to constantly be reading every room where communication is being received.

This example gave the vendor a great opportunity to reflect on how they are communicating with clients. Growth marketing is heavily influenced by knowing your audience, whether it be a client or someone reading your blog. Be obsessed with learning about this audience and how you can best engage them.

EMBRACE GROWTH MARKETING FOR LONG-TERM SUCCESS 

While it’s important to keep up with new marketing tactics, most of your efforts should focus on techniques that will contribute to long-term success. That’s why I recommend companies take a growth marketing approach over a traditional marketing approach.

Traditional marketing typically focuses on customer acquisition, while growth marketing explores ways to both attract new customers and keep them engaged. For example, I’ve seen paid ad campaigns set companies up well with short-term leads. However, once they stop those paid ads, the benefit goes away.

If you set things up well for SEO or grow an email list instead, you’re employing tactics that can pay off in the long run. They create an inbound funnel toward you that helps keep both prospects and customers engaged.

ASPIRE TO OWN YOUR INDUSTRY

Sometimes budget constraints can prevent a company from marketing the way it should. However, the winners in industries are the ones that are relentless in gaining market share and growing it. You don’t have to do this overnight, but you do need to make consistent efforts.

I’ve watched companies go heavy on marketing but then stop because they don’t see the results they want immediately. Industry ownership is a longer-term play. Be thoughtful in your content strategy and in determining what will contribute to more market share. Don’t be too general, as it gets very competitive when you are trying to own a general term in an industry.

For example, I was speaking to a friend who works at RedSwan CRE about which industry he wants to own. He didn’t simply tell me he wanted to dominate the real estate industry. Instead, he told me he wanted to own the tokenized commercial real estate industry. To ensure someone is marketing well, the first thing I do is check to see if what they want to own is the first thing on their website. So, when I went to his website, I saw that the first main heading was “A Tokenized Commercial Real Estate Marketplace.”

This kind of verification is standard practice for me to know that a company clearly understands how to market its brand strategy. Consider how you communicate your brand positioning externally. If you don’t have your brand focus clearly stated on the homepage of your website, you are missing something.

The world of marketing is constantly changing. That’s why it’s critical to review and revise your marketing strategy continuously. However, before adopting the latest trends, determine whether they truly make sense for your company.


John Hall is an investor in Calendar, the adviser for the growth marketing agency Relevance, keynote speaker, and author of “Top of Mind.” 


https://www.fastcompany.com/90758278/how-to-identify-the-best-marketing-techniques-for-your-business