5 Factors That Can Influence Your Marketing

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A successful business is the result of several smaller successes because there are many factors at play that can make or break a given company. This is especially true for small businesses that already have the deck stacked against them within the first year of operation. Each of these factors has a part to play, and each of them is fundamental, but marketing is one of the most important. Here’s what you need to know about marketing your business effectively.

Branding

Branding entails several aesthetic choices that constitute the essence of your company, and that brand will be omnipresent throughout marketing endeavours of all kinds. One of the most prominent elements of branding is colour, as most big-name brands have a strong association with their colour palette of choice. Likewise, colour has been shown to affect the mood that proves to be an effective way to inspire interactions with your business. Your colour choices will also affect several other facets of the brand, such as logos and mascots, for example, and potentially even the look of your company’s place of business. Branding is also integral to advertising, as the two interact with each other to create a narrative about your business. A lighthearted ad campaign featuring bright colours and wacky characters is far different from a serious ad about a serious topic like a medical condition, for example. The established personality of your company will also affect things like press releases and social media marketing, meaning that branding is the foundation of most advertising.

Demographics

One of the most important facets of marketing is knowing who you’re marketing too. Demographics and other business metrics are crucial in determining what advertising and other marketing campaigns will reach the most people and prove to be effective. The broad strokes of demographics are that they tend to fall along certain predictable lines. For example, a company that sells surf equipment will be most profitable in a seaside town, because that provides the best chance at a consistent customer base over time. On the other hand, the same business would perhaps see some business during summer in a landlocked area, but there is little demand for surfing gear during other times of the year in that situation. This is a fairly obvious example, but there are myriad other ways that your consumers may be categorized that can influence your company’s viability and marketing tactics, and these categorizations aren’t set in stone even within a given group. Keeping track of demographics and how they change over time is essential for effective marketing.

Social Media

Social media has quickly become an essential tool in the toolkit of any successful business, and that is because social media provides one of the largest possible audiences for advertising. However, social media also offers a wider array of marketing possibilities, as well. Not only can a business pay to advertise to the general public, but businesses can also post ads to their account that is shown to their followers and potential followers, for instance. Social media also opens up a dialogue with your followers that can provide crucial feedback both for free and at a much faster pace than traditional market research. You can also provide your customers with more routine announcements of special offers without all the bells and whistles that make advertising a more time-consuming effort saved only for special occasions. Social media marketing also offers additional branding options, as the tone of social media posts can contribute to the aforementioned personality and strengthen the association between your business and that personality in the minds of the public more frequently than other methods.

Targeted Advertising

Targeted ads are a type of ad characterized by how and when it is deployed. Essentially, an algorithm will present a given ad only to people that are deemed to be likely to respond to that ad favourably. This is accomplished by analyzing a given user’s browsing data and matching it to certain criteria before showing the user an ad that has that criteria. With this method, your ad is theoretically competing for airtime, but when it is aired, there is theoretically an above-average chance of the ad landing and resulting in traffic to your business’s website. These ads can take a variety of forms, such as banner ads or video ads, and the uniting factor is the algorithmic deployment of the content in question. This means that the method of targeted advertising can be applied to any ads you may have ready to be deployed, and ads that have been given this treatment can be aired through conventional means. An all-inclusive strategy is typically the best option because it ensures the greatest possible audience.

Hiring a Marketing Team

Marketing is a multifaceted endeavour, and that complicates things. An individual can only do so much, and a layperson can do even less. Given that this is the case and that marketing is integral to the success of a business, it is common practice to outsource marketing to a marketing firm. This is more costly, but it’s a cost that is easily made up by the increase in efficacy that professionals can provide. If you have doubts, consider the story of the Geico gecko, a mascot that was thought up not by the owner of the company but, rather, a marketing firm hired to do it. The longevity and charm of that iconic mascot are the results of a group of professionals, and that translates to more successful marketing and, in turn, more sales. The same principle applies to data analysis, as data informs marketing. Hiring a data analyst and a marketing firm are both essential for effective marketing in the modern era.

Marketing is a broad field that is chock full of nuance. This means that it is often difficult to get all your ducks in a row to effectively market your business, but it remains important that you do so to create a successful business. Using these tips, you have the tools you’ll need to get the word out about your business.



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