Deciding on an effective marketing mix strategy is critical to the short-term and long-term success of any business. A thorough understanding of marketing strategies is what differentiates Legnd’s team from the competition while providing a service that’s crucial for growth. In this article, we’ll discuss some of the best strategies for growing your business via different means of getting yourself noticed on the web.
The marketing mix refers to the elements that combine to make your business work. Since you want to ensure that the maximum number of potential customers see your product or service, you’ll want to hire a digital marketing company that understands the importance of each one of these facets and how they’ll impact your unique Internet presence. The key elements are:
1) Your Product/Service
Any new business starts with a product or service that customers desire. It’s the foundational level of any business, likely something the owner’s knowledgeable and passionate about. It’s also the element that’s typically carried the most by the owner or management team.
What needs does your product or service address? Why will your customers opt for your solution over the competition? Knowing how it will enable your client to achieve a goal or meet their needs will help you understand how to better market your product or service the right way to the right audience.
Understand your product or service’s place in the market. How does it stack up with the competition? Does it deliver in ways that your competitors fail? Making sure to highlight your product or service’s uniqueness is critical when planning a marketing campaign.
2) The Price
There’s a lot of emphasis placed on the price of a product or service, and for good reason. It’s what’s going to be keeping the lights on and the business staffed. However, it isn’t always the number itself that will make a customer or client select your business.
It’s important that a pricing strategy is realistic. This means that having a price too low will result in people thinking your company provides an inferior product or service, while having a price too high will scare them away. Put yourself into the shoes of the person who’d be buying your service or product. How would you react to your own company’s pricing strategy for what it offers?
Discover ways to give alternate price points to add perceived value. It’s possible to create value by fusing products or services and altering your terms of sale without overhauling the company itself.
3) Promotion and Advertising
Most people consider promotion as the only aspect of marketing their product or service, but in reality, it’s only one part of solving the puzzle. When getting people to engage with your brand, there’s almost an infinite variety of ways to get your message out there. In the digital world, Legnd has mastered the art and science of getting clicks where it counts.
Successful promotion can make all the difference between growing your business or shuttering it. It’s the element of the marketing mix that requires the most nuance and tweaking for long-term success that requires a digital marketing business model that’s customized to your goals. No promotional strategy will be effective if implemented with a “set-and-forget” mindset. Therefore, it’s crucial to employ those who understand how to keep in touch with the times and algorithms and adapt accordingly.
4) Place of Purchase
Where does your client or customer come into contact with your service or product? Is it a physical location they go to, or do you go to them? Do you deliver it to them, or does a third party sell it? Is it an exclusively digital product or service that requires the Internet in order to facilitate? These are all questions that might seem obvious at first, but an in-depth analysis will show you where to first begin casting your marketing net for the biggest catches.
5) Customer Satisfaction
The impression you make on your customers and clients has the potential to last a lifetime with knock-on effects that can cause exponential benefit or harm to your business. Legnd understands even the finest nuances of review marketing tools such as ProReview and just how important it is to have a positive image. We live in an increasingly review-driven world, and all businesses can benefit from forming positive review channels that give both credibility and security for future patrons.
6) Search Engine Optimization (SEO)
Search engine optimization, frequently abbreviated as SEO, is everything from backlinks to copywriting that impacts how your business is ranked by search engines like Google and Bing. SEO is like planting a seed and giving it good water, proper sunlight, and quality fertilizer. Legnd’s SEO team understands how to organically grow your Internet presence over time so that you can continue to reap a bountiful harvest of business success. The best SEO practices are those that will build off one another to create a positive feedback loop. It takes time to start, but once it gets going, quality SEO is an unstoppable force!
7) Pay-Per-Click (PPC)
If you’re trying to maximize your search engine ranking results while also laying down a solid foundation with SEO, then consider pay-per-click ads. These are ads such as Google Ads, Facebook Ads, and more that are a quick way to increase your leads. Working with the algorithms of various social media giants can feel like operating inside of a black box, and that’s why Legnd’s marketing team is here to remove that burden from your day-to-day operations so you can focus on what matters most: the customer experience. PPC ads will target demographics most likely to purchase your product or service as well as the geographical areas that you provide them. Most businesses opt to use them in tandem with an SEO strategy for long-term growth. Ultimately, when SEO gets you to a good spot organically, you can taper off what you’re paying for ads, and your cost per lead will significantly decrease.
Legnd has been awarded The Best Digital Marketing Company by Digital.com’s team of marketing analysts for multiple years running. That’s because of our own commitment to being second-to-none in our industry. If you’re ready to get serious about growing your company’s presence, reach out to us via a phone call or email to schedule a consultation today!