We usually think about marketing as a means to get more clients. That's true enough, but there are many more benefits to marketing promotions than just that. Before we begin, let's remember that promotion is only one part of the marketing mix. The whole package consists of Product, Price, Packaging, Place, and Promotion.
In this article, we'll look at promotion and how to get to know your customers better through the promotional campaigns that you run.
1. Analytics Help You to Understand Your Customers
Most of us think we know our customers: who they are, what they want, and what triggers them to buy from us. However, they might just have a few surprises in store. Digital marketing offers a low-cost way to get to know how your customers think and what they want. Trying to persuade them that they ought to want something that doesn't really resonate with them will be hard work, so it makes sense to cater to their current needs, wants, and value perceptions.
To find out what these are, monitor your website and social media analytics closely. Try presenting the same information in different ways, or try matching your business to different aspects of need-fulfilment. Find out what works for your customers, and your next marketing campaign will be so much more effective!
2. Reputation Management and Marketing isn't Just About Looking Good
A lot of people think that reputation management is about putting out fires. Up to a point, it is. After all, you don't want angry customers telling all their friends about a less-than-pleasant experience with your business, but there's more.
By keeping a close eye on what people say about your business, you can identify issues of which you may not previously have been aware. Once you know what customers like and don't like about your business, you can do more of the former, and address the latter.
3. Your CRM Software Receives Information. Use It.
Customer Relations Management (CRM) software helps you to track buyer behaviour. There are many ways to use that knowledge - whether its in segmenting your customer base demographically, or determining where they are on their journey as your client.
This allows you to target clients to receive specific information and offers that seem relevant to them. It also allows you to gauge their response. Sometimes you'll hit the mark, and sometimes you won't. While the former is a success, the latter is a learning opportunity. Either way, you win.
4. Get Them Talking
Getting information directly from clients through surveys and questionnaires isn't always easy, but you can sugar-coat the "pill" to get valuable input. If you can find an engaging way of presenting your questions to clients, they might even respond without an incentive. Alternatively, you can run a competition or provide a special offer.
Let's suppose you're thinking about carrying a new product range but aren't sure whether it will be well-received. Conventional market research is very costly, but digital marketing methods can give you a clear indication of client preferences for a fraction of the cost.
You can gauge the risk and decide whether to invest in expanding your offering. In the process, you might even win new or repeat business. That's just one example of how getting people talking can help you. Now, imagine all the other scenarios where getting a grip on market opinions and sentiments can make a difference to your business. The possibilities are practically endless!
Why Many Businesses Don't Make the Most of The Opportunity
There are many reasons why businesses fail to make the most of the learning opportunities inherent in digital marketing. We could write a book on them, but here's a top five.
Many businesses don't put any of this into practice because:
They have brick-and-mortar businesses and don't think that online marketing is particularly important. Unfortunately for them, it is!
They think digital promotion is about talking to prospective clients and forget the importance of listening.
They don't have the know-how. They may not know how to read and interpret analytics - or they don't know how to improve them.
They don't have the tools. For example, you can't leverage a CRM if you don't have one!
They simply don't have the time. The business day is full of tasks to complete, and although they'd like to spend more time on digital marketing, it doesn't fit into their schedules.
If any of these points describes your business, you aren't alone! But if your competitors have addressed them and you haven't, you might be in trouble. The internet is where your customers are, and if you aren't using it to get in touch and learn more about them, you're losing out.
Need help? Maybe it's time you hired a digital marketing agency. While you focus on your business, we'll focus on your marketing, and we'll feed through the valuable information you need to help you understand your customers better while boosting your repeat business and getting you fresh leads every month. Are you ready to get started? Let's see if we're a good fit! Book a consultation now.