Good Marketing vs Great Marketing

How marketing can improve your business performance

In every company, there are figures and departments that all contribute to the success of a business. Of course, every brand is different, but more often than not, its marketing is often overlooked.

Marketing has many functions and roles. At its core, it's about promoting products, services or ideas to a target audience. In addition, marketing helps businesses grow by increasing profit, awareness, and customer loyalty.

If the end goal of a business is to increase sales having a solid marketing plan and a dedicated team can set you apart from the competition.

Here are more reasons why having a great marketing strategy can improve your business:

A clear view of your analytics

Marketing research is an integral part of the business growth strategy. It helps businesses narrow down research segments based on demographics and consumer behaviour. Analytics can help you make data-driven marketing decisions that will help achieve the greatest return on investment.

Strategically using information from marketing analytics may help maximise a company's chances of increasing sales or consumer engagement. In fact,a study by Linkedin found that almost all (94%) of the top performers claim that they receive better leads from marketing, and over 60% of marketers measure the success of their marketing strategy through sales.

Businesses can also use marketing analytics to document their growth, which is essential when deciding whether or not to expand or share statistics with investors and board directors. A great marketing scheme will always refer back to marketing analytics, and its team will continue to track and assess results to adjust its marketing plans to ensure ROIs are met.

Increase engagement with customers

When it comes to marketing, engaging your customers is a great strategy to keep the conversation going. It's all about creating fresh content and not just pushing your offers. 82% of marketing experts in a recent study say "Active customer retention" in marketing is one of the most critical objectives in customer relations.

Communication marketing is also essential because it can influence how customers view businesses. For example, a business with the right balance of informative emails and incentives, like promotional discounts, may help persuade customers to re-engage with the company. These positive effects might include increases in sales, customer loyalty and customer referrals.

Engaging with customers opens up a two-sided dialogue and allows them to provide feedback on your products and services. This again can provide vital information on how to improve your services directly from the sources. Creating this dialogue can be done through social media or other platforms other creative messaging. In addition, by engaging with your customers, a great marketing strategy will provide audiences with sense of belonging and make them feel like they are part of something bigger than their individual experience with your business.

Building and maintaining a solid reputation and brand awareness

Your business's reputation is the foundation of your brand equity. This is because a good reputation means high customer satisfaction rates, trust in your products and services, and who you are as a brand. Harvard Business Review also suggests that a strong business reputation can:

• Attract better people

• Charge a premium

• Enjoy strong customer loyalty

Expert marketers will use effective communication, branding, PR and CSR strategies to maintain a business's reputation. Brand awareness is one of the most critical aspects of marketing. It refers to how recognisable an organisation is through its creatives, reputation and online presence. Effective marketing can help generate brand awareness by placing a brand where consumers or other businesses might see it. Brand awareness is also essential because consumers often want something they are familiar with, whether trying something new or performing a daily task. For example, a consumer who is used to a specific toothpaste brand may purchase that brand over one they are unfamiliar with, even if the less familiar brand is cheaper and has the same ingredients.

Conclusion

During these unprecedented times, there are many ways to protect your business. Investing in your marketing to ensure loyalty from your current customers, increase performance in customer relations, and attracting new businesses should not be something to be overlooked.  At Cnip, we allow each of our clients to reach their goals and objectives. As a marketing firm, we prioritise your best interests with a team that will work to deliver on its promises. Our team at Cnip is eager to continue working with clients to offer tailored solutions for their marketing. Get in touch to learn more about our marketing services and how we can turn good marketing into great marketing.