In today’s economy, businesses need to be creative and strategic in order to get ahead of the competition. Traditional marketing methods are becoming less effective due to the increasingly competitive market. This is forcing many businesses to look for new and innovative ways to market their products and services.
Most businesses can attest to the fact that the current economy has impacted the sales market. Customers are more cautious and willing to negotiate deals, instead of spending money frivolously.
Luckily, there are a few practical ways to market in today’s economy that can get the job done. Below are just a few of these strategies that have helped many small businesses to add new customers and build a successful brand.
According to an article by ReFuel4, “Digital advertising is extremely cost-effective when compared to traditional forms of advertising such as newspapers, television and radio… You can reach a larger audience, and the ROI that can be tracked is remarkable.” This means that through digital advertising, businesses can reach their target audience without breaking the bank.
In addition, digital advertising is perfect for businesses that have a limited budget. The CPC (cost per click) rates are much lower than on other forms of advertising, and the results can be measured more accurately
Few Practical Ways To Market In Today’s Economy
Use Social Media to Your Advantage:
Social media is an increasingly powerful tool that small businesses can use to their advantage in any economy. It’s one of the most affordable and effective ways to get your message out to your target audience. Whether you’re advertising a specific product or simply showcasing your business in general, using social media can help to spread the word that quickly and efficiently.
It’s also important to note that different platforms are better for targeting different demographics. For instance, Facebook might be the perfect place to reach a more mature customer base, while Instagram might be better for targeting a younger one. It’s important to strategically pick which platforms to use and tailor the content to fit them.
Engage in Content Marketing:
Content marketing has become one of the most popular types of online marketing, and it’s easy to see why. Content marketing focuses on creating and sharing content to engage and inform customers, as opposed to simply selling them something.
This type of marketing can be utilized on a variety of platforms, including blog posts, e-books, video, podcasts and more. Content marketing helps businesses tell their story and build relationships with their target audience in a more meaningful way.
By creating content that resonates with the customers, businesses can build credibility and trust. This in turn leads to more sales and leads. Network & Make Connections The power of networking should never be underestimated.
Not only is networking an effective way to meet potential customers, it’s also a great way to strengthen business relationships. By attending industry-specific events and conferences, businesses can make new connections, learn about the latest trends in their field, and get closer to their target audience.
And, networking can be done online as well. There are countless online forums, groups and business communities that business owners can join in order to make connections and start conversations. Making these connections can open up doors to opportunities that may have otherwise been missed.
Influencer marketing is an effective way to reach your target audience in today’s economy. This type of marketing involves partnering with influential online personalities and having them promote your products or services.
These influencers have an influence on their audience because of the trust and credibility they have already established. Thus, having influencers promote your product is a great way to gain exposure and reach a wide range of potential customers.
Paid advertising is another effective way to market in today’s economy. Platforms such as Google Ads and Facebook Ads are great places to start. Paid advertising allows businesses to target specific audiences with tailored messages that will be most effective. Depending on the marketing budget, paid advertising can be a very effective way to promote products and services.
Make It Personal:
In today’s economy, customers are looking for a more personal experience and real connection with the companies they use. A great way to do this is by making your marketing more personalized.
Try using customer data to create targeted promotions and campaigns that speak directly to them. You can also create more meaningful relationships with customers by using email marketing to provide special offers, discounts, and thank-you messages.
Affiliate marketing is an excellent way for businesses to tap into the expertise of other professionals who can help spread the word about their products and services.
By partnering with industry influencers or affiliates, you can gain access to a larger audience and increase exposure for your business. It’s also a great way to reach potential customers that you may not have been able to reach yourself.
As a small business owner, marketing can be a challenging and time-consuming task. However, with the right strategies, it can be an incredibly effective way to grow your customer base and spread the word about your products and services.
Marketing in today’s economy requires creativity and strategic thinking. Businesses need to look for new and innovative ways to promote their products and services. The five methods discussed in this article are excellent ways to market in today’s economy. By leveraging the right methods, businesses can reach a wide range of customers and generate more sales.
Benefits Of Understanding Consumer Buying Behavior And How They Can Help You Create Better Marketing Videos
Understanding consumer buying behavior can be extremely beneficial for creating effective marketing videos and there are several key benefits to understanding how consumers make purchasing decisions.
Before we begin let’s really understand what really is consumer buying behavior, according to Clootrack knowledge Consumer buying behavior refers to the study of customers and how they behave while deciding to buy a product that satisfies their needs. It is a study of the actions of the consumers that drive them to buy and use certain products.
“Consumer behavior is the actions and the decision processes of people who purchase goods and services for personal consumption” – according to Engel, Blackwell, and Mansard,
The study of consumer buying behavior is most important for marketers as they can understand the expectation of the consumers. It helps to understand what makes a consumer buy a product. It is important to assess the kind of products liked by consumers so that they can release it to the market. Marketers can understand the likes and dislikes of consumers and design base their marketing efforts based on the findings.
Consumer buying behavior studies various situations such as what do consumers buy, why do they buy, when do they buy, how often do consumers buy, for what reason do they buy, and much more.
For example, consumer buying behavior is studied by consumer researchers and their aim is to know why women buy moisturizers (to reduce skin problems), the most preferred brand (Olay, L’Oréal), how often do they apply it (twice a day, thrice a day), where do the women prefer to buy it (supermarkets, online) and how many times do they buy it (weekly, monthly).
Another example of this is the experience of our client – KBONET. They saw a whopping 150% increment in their sales after optimizing their best ceiling speakers article.
It’s insightful to listen to some of the first cut opinions on Vocalley from consumers on how they think about various brands and their expectations when it comes to electronic products and gadgets
Long-term sales stability is not just about having a great product. It’s about meeting consumers’ needs, understanding what makes them tick, and speaking to them in the ways that make them want to engage. In order to do this, marketers turn to a variety of reports, surveys, and tools to understand one thing – consumer behavior. It’s a marketer’s gold. And as we’ve seen time and time again, those who use it best, and align their marketing decisions to what the data tells them, are those who win.
Factors Influencing Consumer Behavior
There are several factors that influence consumer behavior, but four of the most important are cultural, social, personal, and psychological factors. Let’s take a closer look at each.
Cultural Factors – Culture consists of the practices of a particular nation, people, or group. It might be determined by nationality, religion, location, or associations. What does this look like? An example of a consumer making decisions based on their culture could be a Midwesterner who buys ranch for their pizza—or their french fries, onion rings, or chicken fingers.
Social Factors – These are the parts of a person’s environment or background that affect their purchasing behaviors. These factors include family and friends as well as other social groups whose acceptance the consumer desires. When purchasing an item, a consumer might choose a brand or a company based on what their parents bought for the family growing up.
Personal Factors – These include someone’s age, occupation, finances, marital status, lifestyle, and values. A good consumer behavior example would be a parent in their 20s choosing to purchase an SUV instead of a minivan. Why? Because personal perception might indicate that a minivan is a vehicle for a middle-aged family.
Psychological Factors – The way someone sees a product or service, as well as their personal beliefs and motivations, affect the way they purchase. For example, a consumer who enjoys working out will probably spend more money on fitness classes or dumbbells for home than someone who dislikes working out.
Why Is Consumer Behavior Important to Business?
According to a Salesforce report, 66% of consumers expect companies to understand their needs and expectations. This means that if you don’t understand what a consumer wants before they can tell you, they’re probably taking their business elsewhere.
Successful organizations build their marketing strategies with consumer behavior insights as the foundation. They’re not generating products and marketing plans based on their ideas alone; they are bringing external information into the fold to find out what customers want and how they want it, then interacting with them accordingly. This is the essence of creating a positive customer experience (CX), and CX means everything to fostering a loyal customer-base. Consider this stat from Qualtrics:
What Is the Role of Consumer Behavior in Marketing?
The organizations that not only solve, but best communicate that they solve, real consumer problems are the ones that win in the market today. Therefore, consumer behavior insights can be used to inform almost all areas of your marketing strategy. This may include what content you should be creating within your blogs and other content mediums, the types of stories you tell in your video and display advertisements, or even how you adjust your product lines to deliver what the consumer wants.
As an example, let’s consider the content your marketing teams could create in the coming months. If you’re a brand that specializes in products for men (like cufflinks, watches, or ties, for example), you might have a plan to create a bunch of blogs about gifting for men around certain holidays. Easy, right? Well, it certainly can be with the right information.
When analyzing consumer search behavior, you might find that there are a lot of searches around anniversary gifts for husbands. But what exact keywords are consumers typing into google? Will “gifts for men on anniversary” receive more hits than “ideas for husband anniversary gifts?” This subtle tweak in the way you use titles and keywords in your content could mean the difference between getting almost 10,000 site visitors or just above 1,000 from this content.
Importance of Consumer Behavior
Understanding consumer behavior is essential for a company to find success for its current products as well as new product launches. Every consumer has a different thought process and attitude towards buying a particular product. If a company fails to understand the reaction of a consumer towards a product, there are high chances of product failure.
Due to the changing fashion, technology, trends, living style, disposable income, and similar other factors, consumer behavior also changes. A marketer has to understand the factors that are changing so that the marketing efforts can be aligned accordingly.
What is the importance of consumer buying behavior? This article outlines several of them.
1. Consumer Differentiation:
In marketing, consumer differentiation is a way to distinguish a consumer from several other consumers. This helps to make a target group of consumers with the same or similar behavior.
Though you have a targeted customer demographic in your business, you can still have variations between individual customers. Each group of consumers are different and their needs and wants differ from other groups. When a marketer is knowledgeable about the differentiation of each group of consumers, he can design separate marketing programs.
Consumer differentiation will help to tailor your strategies to the needs of varying customer groups. When consumer differentiation is done, you can expand the width and breadth of your services. You will be able to effectively serve a wider group of people.
2. Retention of Consumers:
“Consumer behavior is of most importance to marketers in business studies as the main aim is to create and retain customers,” says Professor Theodore Levitt (Kumar, 2004).
Consumer behavior is not just important to attract new customers, but it is very important to retain existing customers as well. When a customer is happy about a particular product, he/she will repeat the purchase. Therefore, marketing the product should be done in such a way that it will convince customers to buy the product again and again.
Thus, it is very evident that creating customers and retaining them is very important. This can be done only by understanding and paying attention towards the consumer’s buying behavior.
3. Design Relevant Marketing Program:
Understanding consumer behavior allows you to create effective marketing campaigns. Each campaign can speak specifically to a separate group of consumers based on their behavior.
For example, while targeting the kid’s market, you may have to look out for venues such as TV ads, school programs, and blogs targeting young mothers. You will need to take different messaging approaches for different consumer groups.
A study of consumer behavior enables marketers to understand what motivates consumers to make purchases. Furthermore, the same motive can be utilized in advertising media to stir the desire to make a purchase. Moreover, marketers should take decisions regarding the brand logo, coupons, packing, and gifts on the basis of consumer behavior.
4. Predicting Market Trend:
Consumer behavior analysis will be the first to indicate a shift in market trends. For example, the recent trend of consumers is toward environment-friendliness and healthy food. This changing market trend was observed by many brands including McDonalds. Based on consumer behavior, McDonald’s brought healthy food options.
By conducting a consumer behavior study, a company saves a lot of resources that might otherwise be allocated to produce a product that will not be sold in the market. For example, in summer a brand will not waste its resources producing a product that will not sell in summer. Based on consumer behavior the company decides on a production strategy which will save on warehouse costs and marketing costs.
One of the most important reasons to study consumer behavior is to find out answers to some of the questions:
Is the customer buying from your competitor?
Why is a consumer buying from your competitor?
What features attract a consumer to your competitor’s products?
What gaps are your consumers identifying in your products when compared to your competitors?
Studying consumer behavior facilitates understanding and facing competition. Based on consumers’ expectations, your brand can offer competitive advantages.
6. Innovate New Products:
We all know some of the big names such as New Coke, Crystal Pepsi, Colgate Kitchen Entrées, Earring Magic Ken Doll, and Wheaties Dunk-a-Balls Cereal. Can you see the similarities in these products? Yes, they all failed!!
The sad truth is that most new products and new ideas end up in failure. There is an estimate of new product failures – they range from 33% to 90% based on the kind of industry.
Companies consistently strive hard to improve the success rate of their new products or new ideas. One of the most important ways is to conduct a sound and thoughtful consumer behavior study.
With the help of consumer behavior analysis, Nike realized that most of its target audience is not professional athletes, but many of them were striving to be more like them. So at the 2012 Olympics in London, Nike introduced a campaign to encourage athletics called ‘Find Your Greatness’. It aimed to promote the aspirations of being an athlete, not just with high-performing athletes but wanted to include all people regardless of their physical capability. The campaign was well planned and was data-driven, of course, carefully analyzed before taking any action. This message inspired many consumers and had enormous appeal to target consumers.
7. Stay Relevant in the Market
When the world is changing as rapidly as it is happening today, the biggest challenge we all face is staying relevant to our target market. And do you know what is the main reason behind the rapid changes? It is the ever-changing behavior of our customers.
Today’s consumers have greater choices and opportunities, which means they can easily switch to a company that offers better products and services.
“The pre-eminent skill required to shift ahead in the twenty-first century is the ability to see and seize.” -Adamson and Steckel, authors of Shift Ahead.
Losing relevance will only cost the company its market share. Haven’t we seen Sony Walkman failing to stay relevant in the digital music era, and the taxi industry doom with no preparedness to battle the UBER uprise!!
8. Improve Customer Service
Consumers require different levels of customer service, and understanding the differences within your customer base will help you provide the most appropriate service for individual needs.
For example, if you own an electronics store, high school or college students who buy a new laptop are more likely to understand the features they’re looking for than a person buying his first computer. With the first demographic, your service goal will be to provide information about the latest trends in technology, while with the second demographic, you’ll need to spend more time educating the customer, finding out what his specific needs are, and even teaching him how to use the features of his new electronic device.
Benefits Of Understanding Consumer Buying Behavior in Creating Better Marketing Videos
Target the right audience: By understanding consumer buying behavior, you can identify the characteristics and needs of your target market and create marketing videos that are tailored to them. This can increase the effectiveness of your marketing efforts and help you reach the right people.
Create more effective messaging: Understanding consumer buying behavior can also help you create messaging that resonates with your target audience. You can identify the key pain points and concerns of your target market and create messaging that addresses those issues in a way that is likely to be well-received.
Optimize video content: Understanding consumer buying behavior can also help you optimize the content of your marketing videos. You can identify what types of content are most likely to resonate with your target audience, such as video testimonials or product demonstrations, and use that information to create more effective videos.
Improve conversion rates: Understanding consumer buying behavior can also help you improve the conversion rates of your marketing videos. By identifying what motivates consumers to make a purchase, you can create videos that effectively communicate the value of your product or service and encourage viewers to take action.
Track and measure success: Understanding consumer buying behavior can also help you track and measure the success of your marketing videos. By identifying key metrics such as view counts, engagement, and conversion rates, you can identify which videos are performing well and make data-driven decisions about how to improve your marketing efforts.
In conclusion, understanding consumer buying behavior can help you create marketing videos that are more effective, resonate with your target audience, and track the success of your efforts. It also helps optimize the content and improve the conversion rates.
Real estate agents in today’s digital world now understand that having videos is a great way to market their business. YouTube and Facebook Live are a great way to lead generate and having fun videos is a sure way to attract more buyers and sellers.
When looking at real estate market statistics from the past few years, it’s clear that technology continues to dramatically influence home buying — thanks in no small part to tactics like real estate video marketing.
Not just that video marketing is one of the best ways to generate real estate leads in 2022. You don’t have to take our word for it—listings with video receive over 403% more inquiries than those without. Besides, 63% of homeowners are likely to hire an agent who uses video over one that doesn’t.
This shows just how much potential video holds to get you the right set of buyers for all your listings. Why video marketing is essential
Video marketing has been an essential part of many businesses marketing strategies in recent years. In fact, 9 out of 10 marketers used video in their marketing campaigns in 2020. This number has increased this past year in particular, in part thanks to the move towards a more digitally friendly world that the COVID-19 pandemic caused. Here are some facts that shed light on the effectiveness of video marketing:
Facts About Video Marketing For Real Estate Agents.
Videos are a consumers’ favorite type of content to see from a brand.
54% of consumers want to see more video content from businesses.
84% of consumers say they bought a product or service after watching a brand’s video.
Moreover, consumers are much more likely to engage with videos by liking, commenting on, or sharing them. Sharing in particular is very important, as this is the internet’s equivalent to word of mouth. If the general internet population seems to like and trust a product or service, others are more likely to like and trust it as well.
To put it simply, not incorporating videos into your brand’s marketing could have you losing out on an untapped audience.
So, to help you succeed as a real estate agent we’ve compiled a list of the best real estate video ideas you can use to spread the word about your business and generate high-quality leads this year. And once you have your idea chosen, you can turn it into a compelling video and we at kennysoft STUDIOs are here to help you bring your idea to life.
1. Share a realtor testimonial video on social media
Testimonials build social proof and enhance your credibility, but video testimonials kick these benefits up a notch with a personal element. In fact, a study revealed that two out of three people are driven to purchase after watching a testimonial video—and real estate is no exception.
People trust people, and watching and hearing your happy clients talk about their experience working with you can help attract leads and convince them about your services. Add storytelling and emotion to that, and you’ve got yourself a winning video.
You can ask clients for testimonials at your open house, when you close the deal, or when you’re done with all the work. Ask them what it was like working with you, so they elaborate on how you understood their needs and helped them find their dream house. If your client doesn’t know
You can ask clients for testimonials at your open house, when you close the deal, or when you’re done with all the work. Ask them what it was like working with you, so they elaborate on how you understood their needs and helped them find their dream house. If your client doesn’t know what to say, give them some talking points or write it on a piece of paper in front of them so they don’t get stuck and can give a flawless testimonial without hesitation.
You can then share the testimonials you record individually or compile them and create a montage video. Either way, testimonials make for great content for various platforms—you can share them on your website, YouTube, and as posts or ads on Facebook and Instagram, just like the …. Real Estate did here
You can shoot a testimonial video with your mobile while ensuring you’re in a noise-free environment with a good background. You can also shoot this video in front of your client’s new house to take it up a level.
To compile all the clips together and present them in an attractive way, you can contact kennysoftSTUDIOs to help you edit the video, like the one we’ve shown below. You can customize it with your videos, text, music, add subtitles and even change the layers and order of slides to create an attention-grabbing video that’ll hook your viewers and convert them into future buyers.
1. Create a real estate promo video
Real estate promo videos are an excellent way to show potential buyers the services you provide, the work you’ve done till now, and give them a sneak peek into what it would be like to work with you. It’s essentially a promotional video for your services as a real estate agent or agency.
You can create short promo videos to run as ads on social media or include one as an explainer video on your website.
Apart from high-quality images, use strong copy with a touch of emotion to make the buyer feel something, and drive action through emotion. Additionally, this video should mention your active location and display your sales history with data. At last, end your video with a strong CTA comprising your name and contact information like phone number, email address, and website.
You can even make longer videos for YouTube and talk about your goals, mission, and how you connect buyers with their dream homes. This promo video from real estate agent fits well in this category.
To create a promo video, you can either hire a professional videographer or do it yourself on a budget by shooting the clips from your phone and compiling them together with InVideo’s fully-customizable real estate promo video template. Just add your images, edit the text as you want, change the music to your liking with our stock library, and you’ll have your professional-looking video ready in minutes.
2. Shoot a realtor intro video
Introduction or profile videos help first-time visitors put a name and face to your brand and build trust. They also help people understand how you work and whether you’ll be a good fit for their real estate needs. Further, you can use this one piece of content on all your platforms—on your website, as your YouTube channel trailer, or a pinned post on Facebook. You can even send this as a welcome email whenever a prospective lead signs up to your email list.
The simplest way to go about an intro video is to use and modify what you wrote on your website’s about page. You need to show who you are, your background, certifications, awards, achievements, and previous sales. But that’s not the only thing—you can also talk about your hobbies, interests, and why you love your work. The idea is to humanize your brand, so don’t be afraid to show a little personality
3. Create a property listing video
When you think of real estate videos, the first thing that comes to mind is listing videos. Think beautiful properties, shot from aesthetic angles, with super fine furnishing and a lush garden—wouldn’t you want to buy it?
In fact, in 2020, 63% of homebuyers made an offer on a home they’d only seen virtually. This shows how effective listing and walkthrough videos are in giving prospects a look and feel of the property and driving deals forward.
For example, consider this listing video from Team Pinto. The real estate agent takes you through the property and its amenities herself—besides giving a comprehensive look at the house, which also helps build a personal connection with viewers.
But if this doesn’t sound like you, you can just capture stunning photos and videos of your property (with your mobile even), compile them into a video and add some music or text to it. It will be effective in showing off your property and getting a waiting list of buyers. Here’s a great example of such a video.
For shooting a property listing or walkthrough video, you can either hire an expensive film and production crew or shoot yourself in bright natural light with your mobile. Just make sure you’ve set it to the highest resolution and use a gimbal or tripod to prevent your video from being shaky and unclear.
4. Educate your audience on renovation mistakes to avoid
Besides using videos to promote your properties and business directly, you can also use them to educate your audience, showcase your expertise, and build their faith in your services. This will nurture potential buyers by meaningfully adding value to them.
Videos on mistakes that home buyers make, like “popular home renovations to avoid” are great ideas for this. They help you solve the real-life problems your prospects face, increase their chances of turning to you when they need your services, and generate more warm leads.
Transform Real Estate does a fabulous job at this, talking about home renovation mistakes to avoid to help you increase your home value for when you plan to sell. You can either create a long-form spoken video and publish it on YouTube like the example above or a quick animated video educating yor audience.
5. Share A List Of Kitchen Improvements On Instagram
The home improvement-DIY industry enjoys a good audience, and research says that videos are their preferred mode of information.
You, too, can create and leverage videos to attract this audience and put your business in front of them to generate more warm leads. Moreover, home improvement videos can also help you stay on the radar of those prospects who are remodeling their home to put it on the market soon.
While YouTube is an excellent place for such videos, you can also make short and crisp videos on topics like “kitchen remodeling on a budget” and post them on Instagram—even as reels.
You can take inspiration from this quick and engaging video.
Ready To Get started?
Real estate video marketing can boost your business by generating new leads, creating more engagement with your brand, and giving you an appealing and captivating way to show off listings to a wide audience.
In a time when the world keeps becoming more digital, it’s more important than ever to adapt to the world of video marketing.
Remember, the ideas for how to market your video and business overall are wide and varied, giving you plenty of opportunities to show the best of what you have to offer.
You can get started by brainstorming video ideas that reflect your business’s vision and general approach to real estate. After you create your video, you’ll need to pick the best channel to promote it. The first step can feel like the hardest, but in no time you’ll be reaping the benefits that come with video marketing.
Looking for an expert to help you with a very engaging video for you as a real estate agent or an agency? Look no further kennysoft STUDIOs is here to help you.
You most consider this factors when doing digital marketing as a business owner, you must know that one of the most important things you need to focus on is your digital marketing strategy. However, having an online advertising strategy isn’t only about building a responsive and user-friendly website, there are also various, important factors you need to consider before you begin any digital marketing, all of which will influence your strategy.
Before we can go into details about the factors that make for the success of any Digital Marketing Campaign, we should first define what the term digital marketing means. In the past, it has also been called Internet marketing, e-marketing and web marketing, these alternative terms varying over time, but none of these is broad enough to encompass what digital marketing is today
Many business owners believe that it is all about their website or Facebook page. It is a far more complex and deeper subject, actually covering any ‘electronic’ means (channel) that a customer uses to interact with a business.
It, therefore, covers all Social Media, access through Google, YouTube and any of the many other Search Engines that exist, plus of course Email. And when it comes to the devices, there is the desktop computer, the laptop, the smartphone, and the growing number of devices, like Alexa. Plus, with the Internet of Things becoming a reality, soon a customer’s fridge will be interacting with your business. this is a challenge for you and your Digital marketing and design agency.
Each way in which a customer interacts is labelled a ‘channel’, and the level of interaction can be a complex one, depending on the level of integration (with your business systems) and tactics you apply.
One recent definition is “Achieving marketing objectives through applying digital technologies and media.”
Perhaps then we should refresh ourselves as to what ‘marketing’ is all about?
The Chartered Institute of Marketing defines marketing, like this:
“Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably”.
It is important to bear this in mind as is it is all too easy to set objectives for digital marketing based around ‘vanity metrics’ such as the number of ‘likes’, ‘followers’ or indeed website traffic. All of these are merely milestones on the route and not a goal in themselves.
In simple terms, digital marketing is promoting products and services online, which are accessible via digital devices, such as smartphones, tablets, wearables, smart TVs, laptops, and desktop computers. Hence, it’s also called online marketing. Digital marketing doesn’t seem to be an option anymore. Now, it’s important for every business to have a digital marketing strategy set in place to reach more potential customers and attain their marketing goals and achieve more sales.
Factors To Conside6r When Doing Digital Marketing
But what makes a digital marketing campaign successful? The success of your digital marketing strategy depends on many factors, which will be discussed in detail below.
Having a website is a prerequisite to launching your digital marketing campaign. And to drive your digital marketing success, your website’s performance plays a crucial role. If your website is slow loading and difficult to navigate, chances are you won’t earn a significant number of visitors and leads.
For your website to have good performance, it must have the following qualities:
Test your website with Page Speed Insights by Google
Search Engine Optimization has had some bad press over the years, notably because it was, in its early days, all about ‘tricking’ Google into giving ranks to pages (sites) that did not in fact deserve them, by taking advantages of ‘holes’ in the ranking algorithms.
Today, with Google’s advanced systems, such trickery is counterproductive because SEO is now being all about ensuring that sites meet Googles stringent rules and ‘assisting’ Google to make the right choice, i.e. giving a page the best rank possible for any relevant search term.
It is a long-term process, but it is a vital part of any digital marketing campaign. It provides the huge and highly attractive benefit of improving a website’s position in the search engines results pages (SERPs) and thus delivers targeted traffic in high volumes. Failure to appear in the Google results is often counterproductive when a customer, having been ‘touched’ via another channel wants more information.
The content of the pages (so called On Page Optimization) should focus on your visitors needs and wants and should cover the questions being asked on the web. You also need to understand the intent behind visitors’ searches (through good keyword research and testing).
Off-page optimization is another vital part of the SEO process, focusing on building links and ‘Social Signals’, these ‘helping’ the search engines to identify how relevant your content is thought to be by others.
Traffic is not enough though; the website must deliver conversions.
Clear Call To Actions (CTA’s), targeted landing pages, and ensuring the site loads quickly and is easy to use are essential requirements. Above all the site must enable the complete customer journey to be made with the minimum of effort, navigation tips and aids being used in support of this aim.
Set your digital media marketing goals
Your goals help you stay focused on your digital media strategy. If you want to see success with digital marketing, you must determine what you want to achieve with your strategy. Goals depend upon your business’s needs.
Whether you’re looking to gain new leads or earn more conversions, you must think about what your company wants to achieve by investing in a digital marketing strategy. If you’re looking to increase sales, your next digital marketing goal could be raising sales by X%. In short, your marketing goal should align with your business’s overall goals.
Every digital media strategy goal should work towards achieving a larger company goal. Additionally, these goals need to be SMART goals. SMART goals are:
Specific: Your digital media strategy must aim to achieve a specific goal. A vague goal, like “earn more conversions,” won’t help you know if you’ve reached your goals, but a specific goal like “increase conversions by 20%” states precisely what you want to achieve.
Measurable: Your goals must also be measurable. A measurable goal is one that you can easily track, such as “increase traffic by 50%.” With a goal like this, you can visibly see how much your traffic increases or decreases over the course of your digital media campaign. When goals are easily measurable, you can identify key metrics and determine how much you’re accomplishing.
Achievable: Before setting a goal, you need to determine if you have the resources and ability to achieve it. A goal like “increase sales by 50%” may not be achievable for your company and can derail your strategy and discourage the people on your marketing and sales teams.
Realistic: Similarly, to achievable, your goals must be realistic. You might be able to achieve a goal like “increase Facebook likes to 4000,” but if you’re trying to do that within a short amount of time, it may not be realistic for your business. Measurable milestones will help you reach those goals that are more difficult to accomplish.
Timely: Your goals must have deadlines. With enforced deadlines, your teams will be more motivated to keep your digital media strategy on track. Without a concrete deadline to push your teams to accomplish your goal, your goal runs the risk of falling by the wayside.
SMART goals help you stay focused and know what you’re aiming to achieve.
Identify your target audience
You need to know exactly who you’re marketing to with your products or services. Identify the common points between your customers, and segment them into groups according to their:
The easiest way to do this is by using customer lists, surveys, and interviews to create representations of your ideal customers (called buyer personas or marketing personas) based on real data, not assumptions.
YouTube’s blog recently stated that they now have 1 billion unique customers every month and that 6 billion hours of videos are watched every month – which was 50% more in March 2013 than it was in May 2012.
Video marketing is also an essential part of your website and in the days of smart phones, digital cameras and free video editing software it has never been easier. Videos can be embedded on your website and can also be uploaded to, and shared in YouTube. Videos have the ability to show clearly which products and services your company can offer – most people will prefer to watch a 1 minute video than read a page full of text.
Use High Quality Content only
Last on our list, yet not least significant is the fact that you have to use high-quality photographs, videos, and articles. These things are utilized as tools for increasing your brand awareness, which is why you need to guarantee that the content you create is HQ, interesting, as well as fun for your consumers.
There are many different marketing automation tools available today, each one allowing for some of the repetitive processes to be taken over by technology. Examples of this are the automated sending of emails or ‘Join My Network’ requests on Social Media.
Any automation has to be carried out with care, as, if it is allowed to become robotic, it could have negative effects. More and more businesses are, however, incorporating automated elements into their digital marketing campaigns. Statistics show that about 70% of marketing leaders are using some form of marketing automation platform. Indeed, these tools speed up and streamline the processes involved, without them it would be difficult to manage all your digital marketing efforts.
Social Media Influencers
Social Media is a vital Digital Marketing Channel and one that cannot be ignored, because it is the best way to create a feeling of community and associate this with your brand. It’s a great tool for marketers and allows the creation of a large number of personal interactions, which in turn can promote long term loyalty.
Social media can also be a valuable tool for monitoring feedback about your business or brand. This is useful as when you change something about your website, business, or launch a new campaign, you can instantly find out how your users feel about it.
It is also an excellent way to provide customer service, many users preferring to contact you via social media, rather than send in a support ticket.
However, building a connected online community is not an easy task, and for best results it is vital that your dedicated social media team utilize a content plan, this detailing the message and when it is going to be sent.
Using it correctly to attract and engage with potential customers by using original content, can bring in huge amounts of traffic and potential sales.
The biggest issue is in selecting the correct type of content. It has to be of the right type though, posting a series of funny cat videos or memes does not fit in with many brands.
Determine your product’s unique value proposition
Every product and service needs to have something about it that makes it valuable to customers. If you can’t showcase the value, people won’t know why they should buy your product or invest in your services. To identify your product’s value proposition, ask yourself these questions:
What need does my product fulfill?
Customers buy products or use services to solve a problem or to improve their lives. You must determine how your product or service benefits your customers, so you can showcase the value. Take some time to identify the unique value of your product or service that will address those needs and concerns.
Ask questions like:
What problem is my product solving?
What does my product do that makes life for my customers better?
How does my product solve the problem better than my competitors?
What capital and means do I have to bring that value to customers?
How can I sustain my product’s unique value?
Where is my business qualified to compete in the business environment?
In other words, what is your niche market? You need to determine which niche your products and services fall into to compete successfully.
If you enter into a market that doesn’t fit your products and services, you’ll likely have a hard time making an impact on that niche’s audience, and you won’t be able to out-compete your audience. Identifying your niche allows you to determine the value of your product compared to your competitors. You can see what you offer that’s better than their product and vice-versa.
Your budget allocation for each marketing campaign also plays an important role in the success of your online presence. Before you even think of pursuing a digital marketing campaign, you need to determine how much the strategy would cost you to avoid any delays or interruption while the campaign is ongoing. In this way, you could maximize your efforts and gain the best results.
Consistency: It is necessary to constantly promote your company. Even when you do not get results immediately
Using the correct digital marketing channel: It is essential to know which channel to focus on if the desired results are to be achieved
Choosing the correct audience: The correct audience is as important as choosing the correct digital marketing channel
In order to ensure the success of your digital marketing, there will be a wide range of things that you’ll need to consider and do. However, by following some or all of the tips mentioned above, you’ll certainly be able to make the entire planning easier, less time-consuming, and less stressful for everyone involved.
So, now that you’re aware of all the things you’ll need to focus on, you might not want to lose any more of your time – after all, time does equal money in the business world. Instead, keep all of these tips in mind and start creating a digital marketing strategy that will suit your needs.
Marketing educates many people about a certain product. When people are well-informed about your product, your sales will increase. Marketing is a great help for many business establishments to create revenue options. It is when business sectors use different marketing strategies to increase business profits.
And one of the ways companies market their products and services is through advertisement and today we will be looking at some of the big spenders when it comes to advertising budget.
According to data compiled by Nairalytics and sourced from the published financial statements of the companies. Some of Nigeria’s mega corporations spent about N143.7 billion in 2020.
According to a PWC report on entertainment and media, Nigeria’s entertainment market is poised to reach $10.8 billion (N4.4 trillion) in 2023, having reached $4.5 billion in 2018. The report stated that Nigeria’s E&M market is dominated by internet revenue, indicating a foreseeable growth in this sector in the coming years.
The report also projected Nigeria’s total advertising revenue at $483 million (N193 billion) in 2020, with the internet accounting for 20.5% of the total. The study revealed that although television advertisement will remain the ad leader in Nigeria by 2023, internet advertisement will outperform TV ad in terms of net additions.
So, accounting to research done by Nairametrics.com this are the biggest advertsing budget companies in Nigeria
Nigerian Breweries – N24.86 billion
Nigerian Breweries, the largest brewing company in Nigeria, which also exports to other parts of the West African region spent a total of N24.86 billion on advertisement and sales promotion in 2020,
This represents a decline of 13.8% compared to N28.85 billion spent in the previous year.
The brewing giant embarked on a number of endorsement and advertisement projects in 2020, some of which includes the endorsement of Grammy-winning Nigerian musician, Burna Boy as a brand ambassador for Star Lager, one of the products of the company.
In November 2020, the company also announced Erica Nlewedim of the Big Brother Naija reality tv show as a brand ambassador for the relaunch of their drinks, Legend Extra Stout and Star Radler as the brewing company aimed to improve sales of the products.
The company also sponsored the Access the Star musical talent show together with Access Bank.
This reflected in the company’s top line as it reported a 4.34% increase in revenue from N323 billion in 2019 to N337 billion in 2020.
MTN Nigeria – N15.14 billion
The telco giant incurred a total of N15.14 billion in advertisement, sponsorships and sales in 2020, representing a 13.83% decline compared to N19.84 billion recorded in 2019.
Some of the projects embarked on by MTN Nigeria in the period under review includes the launching of a campaign tagged “Turn-It-Up”, which is expected to help Nigerians turn things up and live their best. The programme generated a series of TV, radio press, and outdoor advertisements during the year.
Later in the year MTN Nigeria also unveiled a new campaign for its youth proposition, MTN Pulse which featured Nigerian music sensation as an ambassador of the campaign.
The company increased its revenue in this period by 15.1% as Nigerians increased their use of the internet and phone conversation to cope with the new reality of staying home during the lockdown.
Dangote Cement – N12.18 billion
The most capitalized company on the Nigerian Stock Exchange and a top cement producing company in the country spent a sum of N12.18 billion on advertisement and promotion in 2020.
Its advert expenses increased significantly by 41.7% from N8.6 billion recorded in the previous year to N12.18 billion in 2020.
The cement industry is not known for television advertisements as it is easier to use physical and online banner advertisements to promote the product.
Dangote Cement is one of the highly profitable companies in the Nigerian corporate space. It reported a 15.98% increase in revenue, as it hit the one trillion-naira mark compared to N891.7 billion reported in the previous year.
Access Bank – N11.32 billion
Access Bank closely followed Dangote Cement, having spent N11.32 billion on advertisement and marketing expenses in 2020. This represents an 80.49% increase when compared to N6.27 billion recorded in 2019.
Access Bank together with Nigerian Breweries, sponsored the “Access the Star” musical talent show in 2020, where the winner walked home with a grand prize of N150 million along with consolation prizes for the first and second runners up.
The company also engaged in a number of television, radio and online advertisements during the year.
This translated to a 14.69% increase in revenue of Access Bank as it posted a top line of N764.72 billion during the period.
Fidelity Bank – N9.59 billion
Fidelity Bank spent N9.59 billion on marketing, communication and entertainment in 2020, an 8.02% reduction compared to N10.43 billion recorded in the previous year.
The bank created online contents and other advertisements across various channels in the year. It also worked on placing banner ads on some internet media platforms in the country.
Fidelity bank however posted a 5.42% decline in revenue from N218 billion recorded in 2019 to N206.2 billion in 2020.
It is worth noting that Fidelity Bank’s advertisement expenses, includes communication, entertainment and marketing costs.
Why is advertising important? It’s important because it can drive business growth. Advertising works to amplify your business marketing and helps you reach the right audience with positive, targeted messaging that converts potential customers into paying customers.