As 2024 begins, market digitally with our tips on crafting a modern marketing strategy using key customer acquisition and growth channels! Depending on if your business is more transactional or relationship-focused, a marketing strategy can also own all the ways to encourage repeat website visits and purchases.
Setting Your Marketing Strategy From Scratch
Create one which will have profound impact and drive conversions by following below steps:
1. Look at the Year In Review
First of all, assess your past year (2023) performance. Review metrics and make data-driven decisions.
Recommended metrics for marketing teams include:
- MQLs (Marketing Qualified Leads)
- Conversion rates at key points in your consumer acquisition funnel
- Customer acquisition cost
It’s also recommended to run a SWOT analysis visualizing your brand’s Strengths, Weaknesses, Opportunities, and Threats.
2. Build Audience Personas
Any marketing strategy should begin with a solid understanding of your audience.
Remember to go beyond basic demographic information. Marketing has grown more sophisticated into understanding our customer’s needs as well. Do a research on customers’ hobbies, interests, and priorities.
For example, if you’re a company creating baby products, rather than marketing strictly to women and mothers, consider single dads, brothers, sons, and other adjacent communities that may also have a need for your goods! In short, drive important barrier-breaking conversations forward.
3. Re-examine Your Customer Journey
Take another look at the customer journey! As the world evolves, our schedules, priorities, and routines are probably different than when you first mapped your customer journey. Users might be online at different times, meaning the right moment to reach out for the highest conversions will look different than before.
Scenarios include encouraging customers to keep coming back if they’re not ready to purchase. And when they are ready to buy, the purchase flow and CTAs should be straightforward. Make it easy for them to complete their checkout.
4. Establish 2024 Goals & KPIs
Goals and KPIs are the bread-and-butter of marketing, and help your marketing strategy take shape. Tie success metrics to each goal, assign responsible individuals, and track your pace.
Taking what you learned from last year, it’s now time to identify any new objectives and KPIs with achievable benchmarks.
5. Identify Marketing Channels
Lastly, assess the channels you are currently using to see where you should focus your efforts. Perhaps you’re ready to launch a TikTok account, or start a YouTube channel, or perhaps you now have a bigger budget for more digital advertising… The key is making sure you’ve covered all major areas of Paid, Earned, Shared, and Owned.
This article is originally published by Meltwater:
Meltwater provides social and media intelligence. By examining millions of posts each day from social media platforms, blogs, and news sites, Meltwater helps companies make better, more informed decisions based on insight from the outside. Learn more at meltwater.com.
