Successful marketing strategies aren't easy to achieve, and they don't happen overnight. It takes time and patience to develop a brand and grow your business. Consumer behavior is complex and you'll likely need to engage with consumers multiple times and ways before they make a purchase.
Given these factors, the most effective way to position your business for growth and success is with a strategic marketing plan that takes all aspects of your marketing mix into consideration. When evaluating the success of any advertising efforts, consider how your promotion strategy relates to the other elements of the 4 P's:
Here are some questions to think about as you’re evaluating your entire marketing strategy.
Product:
How would your target customer articulate their need(s)? Are there other ways your product or service can reduce friction by tailoring to the customers most important points of friction? How would you evaluate alternative solutions against customer need(s)?
Price:
The simple formula to assess value is WHAT YOU GET divided by WHAT YOU PAY. Cost isn’t just dollars. It’s time, energy, and any friction. There may be ways to address pricing by finding other ways to offer value for your customer, which will help you stand apart from competition.
Place:
With digital purchases, and rapid fulfillment becoming commonplace, do you feel like you’re easily accessible for your target customer? Make sure you’re aware of how your strongest competitors are accessible.
Promotion:
What are the steps a customer might take from awareness to purchase before they elect to make a final decision? Do you have marketing present at these various stops to keep nudging customers down the funnel?
At Awarity, we're here to serve as an easy and effective part of your promotion efforts, but we are most effective as one part of an overall marketing strategy. Our approach works, and will get you seen by your target audience more times per dollar spent than any other medium can offer. We'll build awareness, but making sure you're reaching your target customer in multiple different ways is key to unlocking growth for your business.
