7 Effective Marketing Strategies To Grow Your Business

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Once you have established your business idea and market, you need to find the right digital marketing strategy to attract potential customers and convert them. A powerful marketing strategy should encompass your business values, value proposition, and critical demographics, among other crucial elements. It should also take advantage of both online and offline strategies.

Why do you need a marketing strategy?

A marketing strategy is the overarching approach a business uses to attract customers. Within a marketing strategy, businesses will use different tactics like organic and paid marketing across channels like email, social, or SMS.

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Without a marketing strategy, businesses can fall into a situation where they try many different tactics that don’t work together. This type of haphazard approach can leave you spending a ton of money and time on things that aren’t bringing in new customers.

A clear, cohesive marketing strategy addresses how you’ll plug the holes, what you’ll do when things don’t work, and how you’ll adapt.

Below are 7 marketing strategies to boost your business’s growth in 2023.

1. Google My Business

Google My Business is a platform by Google where consumers can search for businesses through Google Search and Maps. This platform is free and should be a part of your digital marketing strategy as it helps you manage your profile across the Google platform. With this profile, your company can take advantage of the Google Business Listing and post crucial information such as your physical location, operating hours, and contacts. 

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Just like on a social media platform, you can share business photos and videos. The platform also has Insights that you can use to know how people find your business online and where they come from. You can also include attributes such as a URL to your website, Wi-Fi availability, or wheelchair access to your business.

2. Social Media Marketing Strategies

Social platforms contribute highly to your overall digital marketing strategy because you can grow your fan base and increase your sales. You can advertise your new products, share information, communicate directly with your customers on a social media account, and save time using handy tools to manage all your social media accounts. Regardless of your social media strategy, integrating social media into your website is crucial to maximizing your revenue.

Popular platforms include Twitter, Pinterest, LinkedIn, Snapchat, and Reddit. The platforms you choose to include in your social media marketing strategies depend on your target audience. If your marketing is photography-based, Instagram, Facebook, and Pinterest should be part of your social media marketing strategies. However, if your digital marketing strategy is blog-based, Twitter, LinkedIn, and Reddit will work better.

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Facebook is the undefeated king, with more than 2 billion monthly users. Using Facebook Ads is an excellent option for social media marketing because you can target your ads to a specific audience. Instagram follows with 500 million monthly users, and social engagement rates are 58% higher than Facebook.

3. Email Marketing And Newsletters

Recent studies show that 89% of marketers use email as the primary channel for generating leads. However, for email marketing campaigns to succeed, they need to deliver the right kind of message to your audience (no spammy “Buy now” emails). Good email marketing builds a relationship and acquires trust with readers.

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You can still automate emails but remember to always add value. These newsletter examples show how all-sized companies can communicate uniquely and interestingly with subscribers. When you make a newsletter, conduct A/B tests to maximize performance.

When done correctly, your email marketing strategy can create a strong ROI, improve customer retention, and influence purchasing decisions.

4. advertising

There are numerous types of advertising to consider for your business. From social media advertising to TV and print advertising, the options greatly vary. One thing is clear, online advertising is a powerful way to get your audience’s attention. Its digital technology helps you better target, track, and measure the results of your paid marketing investment.

Learning how to advertise on Google early on will significantly benefit your growth within digital advertising. Since Google is the largest search engine globally, you want to stay ahead of the competition and show up for strategic keywords related to your offerings. Advertising on Google and many social media platforms are also known as Pay-Per-Click (PPC) advertising.

To choose the proper advertising methods for your business, consider:

  • Your audience
  • Costs and budget
  • Timing and length of your campaign
  • Creative assets available

5. Affiliate Marketing

To answer the question, “What is affiliate marketing?” you can think of it as paid partnerships where others promote your brand for you. By creating an affiliate marketing program, you’re ultimately working with another affiliate that will distribute product promotions on their social media accounts, blog, or other platforms. Their sales get tracked with unique links called affiliate links, which allow the individual to get compensated based on performance.

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This type of marketing is increasing in popularity, and more and more companies are rolling out their own affiliate programs. Due to this growth, today, 81% of advertisers include affiliate marketing as part of their overall marketing strategy.

6. Search Engine Marketing

After growing your organic traffic through SEO, you can invest in search engine marketing (SEM). With 35% of product searches happening on Google, it is crucial to leverage search engines to show up on the results page. Before investing in a Google Ad campaign, ensure you have the right SEM tools to guide you. Some of the best SEM tools are SEMRush, Google Trends, Google Ads Keyword Planner, and Spyfu.

7. Event Marketing

Event marketing takes advantage of offline marketing. It helps you interact directly with potential leads and clients. With the average CMO allocating 24% of their budget to event marketing, you should also consider this strategy for your business.

There are several ways to take advantage of event marketing. The first is signing up for exhibits to generate leads. The second is VIP dinners to mingle with C-level executives, and conferences to boost brand awareness and establish your presence in the industry.

Marketing Strategies FAQs

What are the main components of a good marketing strategy?

While the precise marketing strategy you choose will depend on your specific business, industry and marketing KPIs, the components of a good marketing strategy remain the same. These include clear goals and objectives, a well-defined target audience, a unique value proposition, a solid competitive analysis plan, a great marketing mix, a clear budget, and metrics complete with a structured implementation plan

Why is a good marketing strategy so important for your business?

A clear, planned marketing strategy is essential for your business, for the following reasons – it provides a focus for all marketing efforts, maximizes ROI, helps with brand building, enables measurement and optimization of marketing efforts, and allows you to stay competitive amongst other businesses