7 Marketing Strategies for Expanding Your Business This 2020
It’s finally in 2020! It’s time to take the business to new heights and expand through different marketing strategies. Here are some that you may want to consider for your business this new year.
1. Create a Solid Brand Identity
One essential step to getting more leads and getting better conversion is building the right identity. Start by working on the logo and colors associated with the business. Refer to color psychology to identify which hue perfectly represents the products and services the brand offers.
Keep the logo memorable but straightforward, so it is easily recognizable to existing and potential clients. Make sure to choose the right typography, the one that speaks for your business.
2. Know Your Customers
Now that the brand’s identity has been established, it’s time to identify the market, and the business should be targeting. There are several ways to get to know your customers, but the most important thing to remember is to refrain from making assumptions. Use social media to see the type of people following the business or frequenting its page.
Surveys are also an excellent way to identify what consumers want. This can be a unique opportunity to identify their behavior and pain points. Getting their feedback will help you cater to them better.
3. Set Up a Subscription-Box Service
In 2019, the subscription-box industry grew to over $2.6 billion. This comes as no surprise as this gives customers a better look at the selection and variety of products offered by the business. Set up a monthly subscription box service and allow customers to choose from several options at various price points.
Start with unique packaging, and then make sure each box contains carefully curated products so customers can decide which products are worth repurchasing. You know it’s well worth investing in beautiful packaging when you have customers excitedly unboxing their orders and anticipating your future offerings.
4. Invest in Good Web Content
In that day and age, it’s safe to say that content is king. More often than not, customers decide on a purchase by reading from articles, reviews, and other digestible materials found on the internet. One great way to expand the business is investing in good content. Set up a blog on the company’s website and publish articles relevant to the industry.
Each content material produced for the business should be well researched and comprehensive so you can quickly grab the interest of your target market. Don’t forget to explore other formats, like infographics, e-books, podcasts, and videos.
5. Build a Community
Improve customer retention by building a community around your brand. Bring up the business on different social media platforms to add more touchpoints to the customers. It gives customers new and old, the feeling of belonging to a group of people with common interests. At the same time, building a robust online community helps harbor better customer retention and brand loyalty.
6. Work with Influencers
Don’t hesitate to jump on the influencer-marketing trend as it is one of the most effective marketing strategies at the moment. However, don’t just dive headfirst. Carefully review and identify which blogger/influencer speaks the same language as your business does.
If you’re on a budget, getting micro-influencers is still an excellent way to widen customer networks slowly but surely. If money is not a problem, do not hesitate to invest in the best digital-content creator in the community.
7. Make Good Use of Data
As mentioned in point two, do not ever make assumptions when crafting your brand’s marketing strategy. Make use of several online tools to collect data relevant to the business.
Run a few initial tests on social media to determine which types of ads have better conversions, and use this knowledge to create the most effective campaign. Don’t forget to review analytics to determine the best marketing move frequently.
Ultimately, growing the business is more natural said than done. Do not lose patience, and make sure you take care, well-calculated steps. Make use of all the available tools and materials to your advantage. Good luck!