Ineffective marketing strategies can lead to a lot of failure. Every year, 83300 businesses fail due to ineffective marketing strategies. To get your business noticed the way Jeff Lerner of the ENTRE Institute says you should, you must be consistent and invest in phenomenal content, PR, email, social media and other forms of marketing. Below are some tips for you to keep in mind:
Jeff Lerner and Investing in PR
As shown off by ENTRE Institute in their various business listings, investing in public relations is a good way to increase brand awareness, attract large amounts of traffic, and leverage organic touchpoints. However, PR efforts can be costly. The biggest risk of investing in PR is that you have no control over the content. Nevertheless, the benefits are many according to a recent Analytics Insight article by Lerner. Here are some reasons why PR is more effective than advertising. Listed below are some of the reasons why you should invest in PR.
A PR campaign is effective if it reaches your target audience. To increase your chances of success, one Fingerlakes1 article on ENTRE says that you must make sure that the press clippings you receive are placed in publications that are relevant to your audience. For example, if your target audience is business owners like Jeff Lerner, a podcast can build your credibility and help your startup get more exposure. To determine the effectiveness of PR, it is important to calculate your media impressions, which is calculated by multiplying the number of clips you receive by the circulation of that publication.
Investing in PR can increase traffic and leads to your website, but it can also result in opportunity costs. Many startups have a tight budget and cannot afford to invest in PR. In addition, competition for venture capital is fierce and products in crowded markets have a low chance of being noticed by investors. In addition, PR can increase the likelihood of a customer buying your product. That’s why investing in PR is good business advice for any startup.
Earned media, on the other hand, is much more unpredictable. Earned media may have the same impact as paid media, but can be more unpredictable. Earned media also gives your brand the freedom to be creative. Don’t be fooled by its name – it doesn’t mean free advertising. PR is about strategic communication, determining what’s newsworthy, and creating a situation that benefits both parties.
Investing in social media like ENTRE Institute
Social media can be a great tool for your business exactly like ENTRE Institute shows us. Not only does it regulate Google Page One, but it allows you to communicate with your target audience and capture feedback. The financial services industry has been slow to embrace social media, but a robust social media presence can help you improve your bottom line. The question is, though, should you invest in social media? Here are some things to consider. Read on for helpful tips to increase your ROI from social media.
Set clear goals for your social media efforts. Make sure your goals follow the SMART framework – specific, measurable, attainable, timely, and relevant – and tie them directly to your business. Make sure to set goals that directly impact your bottom line – for example, if you’re looking to increase customer acquisition, you should focus on that. But there are also other metrics to consider – whether you’d like to increase your conversion rate, or acquire more customers.
Rebranding, expanding, and launching new products are all excellent opportunities to invest in social media. Social media channels can help you tell your story to the world, and you can use them to build a community. A rebranding can open new markets and attract new customers. Use social media to help promote your new rebrand. It’s an easy way to spread the word about your new brand.
ROI is the best way to measure the effectiveness of a marketing campaign. ROI will help you compare different marketing strategies and identify what works and what doesn’t. Using an ROI measurement tool is a transparent way to measure ROI. Having data to show management what works and what doesn’t will help you decide which ones are not worth spending more money on. A recent Jive Social Business Index Survey found that nearly half of senior management believes that social media should be an important part of their company’s strategy.
Investing in email
While implementing an email marketing strategy can be a big investment, it also pays off to take calculated risks to validate your big ideas. By investing in email marketing, you will be able to gain confidence from people who hold the purse strings. A majority of marketers believe in a combination of in-house resources and outsourced resources. As a result, the budget for an email marketing campaign will depend on your industry, target audience, size of your team, and capabilities.
While social media is increasingly popular, the value of email marketing should not be underestimated. Email marketing yields $38 for every $1 invested. That’s three times the ROI of traditional marketing methods. And because people use email for many purposes, it integrates well with other marketing tactics. For instance, it can support multiple campaigns, increase excitement for a campaign, and even increase social media audience size through the inclusion of social share buttons and CTAs.
In addition to the ROI that email marketing provides, it can help boost your ROI. With 3.2 billion email accounts in the world, the return on investment for email marketing campaigns is 4300%. By using a combination of tools, email marketers can create and send personalized emails to their audience. Investing in email automation and educational tools can be crucial to improving the effectiveness of their campaigns. And if these two methods are used properly, you can double or even triple your ROI.
In fact, 59% of marketers say that email is their largest source of ROI. Additionally, email marketing can increase your chances of retaining your customer base. According to MailChimp, email marketing helps improve customer retention and boosts revenue. And according to the report, people open more than half of emails they receive, so they are more likely to buy from a brand they have heard of in an email. So why wait? Investing in email marketing is an investment worth making.
Investing in surveys
Investing in surveys as marketing advice may seem like a good way to boost your business’ profits, but is it really the best option? Social scientists like Jeff Lerner have done extensive research on the benefits of surveys and the connection between ROI and customer satisfaction. For example, John Bowen and Shiang-Lih Chen conducted a study on the relationship between customer satisfaction and loyalty in the International Journal of Contemporary Hospitality Management. Their results showed that customer satisfaction surveys can increase ROI by as much as 40%.
Surveys can be used to gain insights on trends in an industry, educate marketing teams, and gain an understanding of what consumers think about competitors as the ENTRE Institute shows us. You can ask them about a specific geographic area or an ecommerce business to learn more about what consumers think of their competitors. The results can help your team decide whether a particular strategy will be successful or not. Investing in surveys as marketing advice is a great way to test an idea and see how it fares in the market.
