How to Start A Business Course – Growing Your Business: Marketing And Metrics – Part 23/27
Given our hyper-competitive consumerist world, the value and importance of marketing have skyrocketed. Marketing is a vital process for entrepreneurs launching and growing a new business since no busi
By S. Mitchell
How to Start a Business — Full Course Series
This lesson is part of our comprehensive How to Start a Business course. Each part builds practical knowledge you can apply directly to launching and growing your own venture.
Given our hyper-competitive consumerist world, the value and importance of marketing have skyrocketed. Marketing is a vital process for entrepreneurs launching and growing a new business since no business could establish itself within their desired market, as well as create and maintain awareness among their customers without it – especially with intensified rivalry among competitors within the digital age. The process of acquiring and retaining customers, as well as the various insights that ensue, serves at the very core of your marketing strategy. How you approach it, will determine whether / how long your business would stand out from the crowd.
"People don't buy products and services. They buy experiences, stories, and magic."
Your business shouldn’t serve as a means to an end. That’s the whole point of marketing – to create an enticing narrative for your customers and embed your products/services within the framework of their life/lifestyles. This lesson will aim to assist you in identifying opportunities for optimization throughout your post-launch marketing efforts, as well as provide you with the necessary knowledge to create and adjust the Integrated Marketing Strategy (IMS).
OBJECTIVES:
- The Importance of Marketing
- Integrated & Multi-Channel Marketing
- The Integrated Marketing Strategy
The Importance of Marketing
Apart from a feasible, viable, and desirable offering launched into a well-researched customer segment and market, supported by sound and agile business strategies and practices, proactive and active marketing efforts serve as an accelerator towards gaining a sustainable competitive advantage. It is a vital process for entrepreneurs to launch and grow a startup business since no business could establish itself within their desired market, as well as create and maintain awareness among their customers without it.
Awareness
Customer Journey & Funnel
Customer Acquisition Strategy
Positioning & Consideration
Brand Recognition & Recall
Stimulating awareness among prospective customers is a crucial process throughout your business lifecycle. As the 1st step within both the Customer Journey and Marketing Funnel, it serves as a crucial foundation for your customer acquisition efforts. Also, it enables a business to maintain a strong position within the evoked/consideration set of existing customers – laying the foundation for the launch of additional offerings in the future. It thus refers to both your current and prospective customers’ ability to recognize and recall your business when engaging in purchase-related decisions and activities.
Information
Content Creation & Distribution
Customer Engagement Strategy
Diversified Content & Assets
Content Messages & Objectives
Your marketing efforts will enable you to distribute carefully crafted content to various audiences and customers. This content would differentiate based on touch-points/engagement points throughout your Customer Journey Map (CJM) and stages within your Marketing Funnel – consisting of the combined image, video, and text-based content with carefully crafted messages and objectives. Essentially, your marketing efforts will enable you to distribute a diverse set of information regarding your business and/or offering based on the customer’s position within the Customer Journey.
Acquisition
Customer Database Building
Persuasion & Positioning
Evoked / Consideration Set
Purchase-Related Decisions
Your marketing efforts are geared towards sharing valuable information regarding your business and increasing awareness among your customers but primarily focus on acquiring prospective customers through these efforts to grow your customer base and ultimately your sales/profits. These efforts involve persuading prospective customers to position your business/offerings within their evoked/consideration set and ultimately purchase your offerings above your competitors, continuously.
Engagement
CJM Engagement Opportunities
Quality & Creative Engagements
Positive & Personalized Content
Customer Satisfaction & CX
Throughout your Customer Journey Map (CJM) and Marketing Funnel, the focus should remain on the provision of opportunities for engagement between your business and your customers, as well as the quality and creativity of those engagements. Your marketing efforts should thus be geared toward providing positive and personalized interactions at every touch-point to increase customer satisfaction and enhance the overall customer experience. The primary goal is to capture and maintain their attention throughout the Customer Journey, to avoid them switching to your competitors.
Retention
Customer Database Growth
Customer Lifetime Value (CLV)
Customer Retention Strategy
Repeat Purchases & Advocacy
Both customer acquisition, engagement, and retention efforts serve as the core component of your marketing strategy. However, the primary goal is to retain these customers to increase your customer base, as well as increase their lifecycle and lifetime value – ultimately boosting your profits. Remember, your customer acquisition activities are more effort-heavy and expensive than your customer retention activities – given that these acquisition efforts aim to establish your business within your desired market, gain a presence among prospective customers and convince these customers to purchase your offering. Also, the ideal customer retention strategy would not only increase your customer-base continuously but enable the formation of loyal customers who’ll serve as advocates for your business.
Relationships
Relationship-Building Efforts
Personalized Conversations
Commitment & Confidence
Current & Future Customers
At the core of your Customer Retention Strategy (CRS) lies both your customer engagement efforts and activities related to relationship-building. Your relationship-building efforts, also referring to the building blocks of relationship-building, should (1) stimulate conversation, (2) support intimacy/ personalized engagements, (3) encourage trust and confidence, and ultimately (4) inspire commitment between the customer and the business. Your marketing efforts thus serve as the driving force behind your relationship-building activities and view both your current and prospective customers as vital assets of your business, rather than mere statistics or profit vessels.
Reputation
Core Values & Activities
Public Relations & CSR Strategy
Reputation Building Strategy
Brand Equity Building
Both the lifespan and growth of your business are directly linked with the reputation of your business, as well as the core values and core activities promoted. Your marketing efforts, including your Public Relations (PR) and Corporate Social Responsibility (CSR) efforts, thus form a vital part of your Reputation Management Strategy (RMS) and are predominantly geared toward building brand equity for your business – referring to the perceived worth of your business within your market, as well as among your competitors and customers. The reputation of your business is built once it effectively meets/exceeds the expectations of your customers – aligning the reputation of your business with the satisfaction and overall experience of your customers.
Boosting
Sales Conversions & Profit
Decision & Purchase Triggers
Enhanced Revenue Streams
Business Expansion Strategies
Your marketing efforts are not only geared towards increasing awareness, informing customers, acquiring customers, engaging customers, retaining customers, and building a reputation, but also increasing sales conversions through strong relationships with your customers and ultimately boosting your sales/profit. The ultimate goal of your marketing efforts is thus to trigger consideration/ purchasing decisions and convince your customers through marketing-related content to act on those decisions in favor of your business. Other than increasing conversations and boosting sales/profit, your marketing efforts also serve as vehicles for both enhancing and increasing your revenue streams – which goes hand-in-hand with building your customer base and building a strong foundation for future business/offering expansions.
Insights
CX Data Gathering & Analysis
Performance & Marketing
Offering & Engagement Quality
Marketing Mechanisms
Your marketing efforts serve as a vehicle for gaining invaluable insights regarding the performance of both your business and your offering. These insights could include performance-related information regarding your marketing efforts themselves, or the perception/status of your business/offerings among your customers. Insights related to your marketing efforts could include the performance of your marketing-related content, as well as the levels and quality of engagements with your content/ business on various traditional and digital promotional platforms. Insights related to your business could include the perceptions of your business/offerings, typically translated through customer conversations and feedback. This enables you to make informed decisions regarding improvements throughout both your marketing efforts and business-related activities – serving as marketing mechanisms aiding the survival of your business.
Relevance
Disrupt & Transform Opinions
Customer Retention Strategy
Improved Evoked Positioning
Repeat Purchases & Switch Rate
Your marketing efforts enable you to establish and maintain relevance within your desired marketing, as well as among your current and prospective customers. Effective marketing-related activities enable a business to disrupt and transform the opinions of customers regarding competitive offerings. These efforts work in conjunction with your Customer Retention Strategy (CRS) and relationship-building activities, to continuously improve your position within each customer’s evoked/ consideration set. Remember, given the variety of options available for most customers, one shouldn’t underestimate the switchability between competitors – even when your customers are engaging in repeat purchases with your business. Your marketing efforts will thus ensure your relationships with your customers are polished continuously and engagements are customized based on valuable insights gathered.
Your competitors are continuously promoting their business, core values, core activities, and offerings. Should you wish to both establish and maintain a strong position among your customers, you should value, prioritize, optimize, and customize your marketing efforts. Marketing is a continuous process and each activity with your Marketing Strategy should be executed strategically, as well as reasonably aggressively to both establish and maintain a sustainable competitive advantage among your competitors.
Integrated
The word integrated refers to the activity of bringing together, incorporating, and combining to produce a unified holistic concept/output. It thus entails combining or coordinating separate elements/activities to create a harmonious interrelated whole. Integrated elements/activities are thus considered the complete opposite of a siloed/segregated approach. To explain the difference between integrated and siloed/segregated elements/activities, we’ll look at a basic/practical example:
Reviewing the image, you’ll notice that the word integrated is well-structured, organized, readable, and comprehensible – aided by the composition of and relationship between each letter within the word integrated. In contrast, the word segregated is unstructured, unorganized, illegible, and incomprehensible at first glance – aided by contrasting compositions of each letter, including their fonts, colors, sizes, and baselines. This is a good example of the difference between an Integrated Marketing Strategy (IMS) and a Segregated Marketing Strategy (SMS). Should the message distributed be unorganized, unstructured, and unplanned, it becomes complex and overlooked. Crafting each element/activity of a marketing strategy should thus be concerning the other activities.
Marketing
The word marketing refers to the activities around promoting, selling and delivering a feasible, viable, and desirable product/service of value in a traditional or digital marketplace to a specific target market/customer segment(s) through customized content to generate leads, accelerate conversions and increase sales/profit. Various marketing activities serve to establish, maintain, and increase awareness and consideration among current and prospective customers, acquire repeat purchases, and increase brand loyalty/advocacy.
Strategy
When you merge these three crucial concepts, you’ll be able to successfully framework and launch effective marketing campaigns – given that every piece of content and the traditional and digital vehicle/platforms hosting that content integrates, and ultimately aligns with both the brand identity, core values and overall vision of the business.
The strategic part of this concept requires an entrepreneur to focus on the creation, organization, and implementation of the Integrated Marketing Strategy (IMS) – which roughly includes market research, milestone planning, goal-setting, content mapping, activity planning, resource allocation, and timeline planning. This enables an entrepreneur to follow a proactive approach instead of a reactive approach, with careful research, projections and planning at the core.
A Multi-Channel Marketing Approach
An Integrated Marketing Strategy (IMS) predominantly exists to eliminate disparities and differences in promotion-related activities and content across various platforms/channels – regardless of the level and nature of the customer’s interaction with your business. Approaching marketing from an integrated perspective relates to multi-channel marketing – where multi-channel marketing refers to various promotional activities on various traditional and digital channels and integrated marketing refers to spreading an aligned message across all platforms and channels. This integrated multi-channel approach requires incorporating a range of traditional and digital marketing channels, including the following:
Digital Marketing Channels
SE Optimization
Promoting your business and offerings through Search Engine Optimization (SEO) includes optimizing your website, content, and keywords to rank higher in search engine results – with the primary aim of increasing the amount of organic traffic to your website.
Social Media Social
Media Marketing (SMM) includes the practice of promoting your business and offerings through various social media channels to increase brand awareness, stimulate traffic to your website/other channels, and generate leads for your business. The most common social media channels include (1) Facebook, (2) LinkedIn, (3) Instagram, (4) Twitter, (5) Snapchat, (6) YouTube, and (7) Pinterest.
Content Marketing
Promoting your business and offerings through Content Marketing (CM) includes the creation and distribution of various content-related assets to increase brand awareness, stimulate traffic to your website / other channels, and generate leads for your business. Common examples of content assets include (1) Infographics, (2) Blog Posts, (3) Articles, (3) E-Books, (4) Whitepapers, and (5) Webinars.
Pay Per Click (PPC)
Promoting your business and offerings through Pay Per Click Marketing (PPC) refers to the method of paying a digital platform supplier/publisher every time a current or prospective customer clicks on your advertisement. Some of the common platforms facilitating Pay Per Click Marketing (PPC) include (1) Google Ads, (2) Facebook Paid/Sponsored Ads, (3) Twitter Ad Campaigns, and (4) LinkedIn Sponsored Messages.
Affiliate Marketing
Promoting your business and offerings through Digital Affiliate Marketing (AM) is based on performance-based advertising and enables a business to receive a commission for promoting other businesses’ products/services on their website. Examples of affiliate marketing channels include (1) YouTube Partner Program and (2) Social Media Affiliate Links.
Native Advertising
Native Advertising (DNA) refers to advertisements primarily content-based and featured alongside non-paid content based on the content requirements of a specific platform. Examples of native marketing channels include (1) Product Placement, (2) Branded Content, (3) Sponsored Content, (4) Video Advertorials, and (5) Print Advertorials – primarily found on Facebook and Instagram.
Marketing Automation
Marketing Automation (DMA) refers to the software that serves the primary purpose of automating and optimizing your marketing activities – typically focusing on redundant/repetitive tasks. Examples of automated marketing channels include (1) Email Newsletters, (2) Social Media Post Scheduling, (3) Lead-Nurturing Workflow, and (4) Campaign Tracking/Reporting.
Email Marketing
Email Marketing (EM) refers to the practice of sending commercial content to specific target audiences/customer segments through emails. The typical messages included in email marketing campaigns include (1) Business News/Public Relations, (2) Promotions/Offers, and (3) Information Requests. Some examples of email marketing channels/platforms include (1) Mailchimp, (2) HubSpot, and (3) Active Campaign.
Public Relations
Promoting your business and offerings through Digital Public Relations (DPR) refers to the practice of securing earned coverage on various digital content-based platforms/channels. It mimics the purpose and objectives of traditional Public Relations activities but takes place within an online space. Examples of Digital Public Relations (DPR) activities include (1) requesting reviews/testimonials, (2) distributing press releases to online media houses, (3) creating conversations with followers on social media, and (4) reaching out to reporters/journalists on social media.
Inbound Marketing
Inbound Marketing (IM) refers to a marketing methodology wherein your business primarily aims to attract, engage, and delight customers throughout every stage and touch-point of the customer journey. Every marketing channel mentioned can be embedded within Inbound Marketing (IM) strategies to create a customer experience that works with the customer and not against them. In other words, the marketing activities aim to draw current and prospective customers to the business, instead of outwardly pushing the business and its products/services.
Traditional Marketing Channels
Although many business leaders and marketers believe that traditional marketing channels/ platforms are becoming redundant, one could argue that it holds value for entrepreneurs building a business model that requires in-person interaction with customers/their professional networking.
Traditional marketing typically relies on offline/non-digital strategies, including (1) Direct Sales, (2) Direct Mail, (3) Trade Shows / Conferences, (4) Print Advertising (5) Referrals / WOM, and (6) Broadcasting. Although the focus has shifted to digital marketing channels in recent years, you should consider traditional marketing channels as support mechanisms to increase brand awareness, stimulate traffic to your website/other channels, and generate leads for your business.
Both Search Engine Optimization (SEO) and Pay Per Click (PPC), given their ability to place your business exactly where your customers are making their purchase-related decisions.
Integrated Marketing Strategy Framework
Deciding on your traditional and digital marketing channels forms a vital part of your Integrated Marketing Strategy (IMS) planning, organizing, and implementation process. However, before you embark on these activities, there are a few crucial preceding steps within your Integrated Marketing Strategy (IMS) that require your attention. Also, once your channels have been determined, there are a few additional steps that follow. This entire process would constitute the basic framework of your Integrated Marketing Strategy (IMS):
Visioning & Goal-setting
Before you decide what content, you’ll distribute through which marketing channels, it’s important that your overall goals, objectives, Key Performance Indicators (KPIs), and Metrics for your marketing strategy be determined. These elements are typically designed based on the overall vision of your business, and are usually shaped around/differ within each stage of the customer journey: (1) Awareness, (2) Interest, (3) Consideration, (4) Evaluation, (5) Decision, (6) Purchase, (7) Repeat, (8) Loyalty, and (9) Advocacy.
Marketing Goals
Your marketing goals include broad goals that depict how your business could/will benefit from your marketing activities. These goals are described to shape your marketing strategy and describe how your marketing activities will contribute to specific business areas of acquiring, engaging, and retaining customers, generating leads, and increasing sales/profit.
Marketing Objectives
Your marketing objectives should provide clear direction and commercial targets, as well as action-based guidance, to reach your overall marketing goals. These objectives typically refer to specific, measurable, attainable, relevant, and time-bound (SMART) marketing-related decisions and actions.
Key Performance Indicators (KPIs)
Key Performance Indicators (KPIs), otherwise known as Critical Success Factors (CSFs), are areas/actions within your business critical to reaching the broad goals and SMART objectives, as well as the overall vision and success of the business. These indicators are designed and implemented to ensure the marketing activities are on track.
Marketing Metrics
Marketing metrics are SMART values used to demonstrate the performance and effectiveness of marketing activities and content across various marketing channels. These metrics, together with your KPIs, enable you to reach your marketing goals, objectives and targets month-to-month.
- Target Audience
Based on comprehensive market research and analysis, as well as the stages within your Customer Journey Map (CJM) or Marketing Funnel, your next step would include determining your target audience. Your target audience refers to the current and/or prospective customers that will / could consume your content on a combination of marketing channels. Your typical target audience would consist of current and prospective customers, who are categorized both broadly and narrowly – based on their content preferences and requirements.
Prospective customers would usually fall within the Awareness – Decision stages of your Customer Journey Map (CJM) or Marketing Funnel, both of which follow the same process. The primary goal of your marketing activities and content would be to (1) establish and increase awareness of your business and offerings among these prospective customers, (2) stimulate interest in your product/ service and gain a strong position among their evoked / consideration set, (3) encourage them to evaluate your offerings based on personal criteria, and ultimately (4) encourage them to make a purchase-related decision.
Current customers would usually fall within the Purchase – Advocacy stages of your Customer Journey Map (CJM) or Marketing Funnel. The primary goal of your marketing activities and content would be to (1) encourage a sales conversion among these customers, (2) stimulate repeat purchases and increase lifetime value, and ultimately (3) convince loyalty or advocacy among these existing customers.
The process of targeted marketing essentially includes designing and defining customer personals by marketing channel, enabling each target audience/customer segment to consume preferred content on their preferred channel at their preferred time and frequency. Irrespective of the inevitable overlap of customers between and among channels, content assets should be tailored to their content preferences and requirements – to increase the likelihood of a successful lead and conversion.
- Marketing Message
The content assets for both these broad categories would thus differentiate, however, the key messages throughout and among every marketing channel would/should remain aligned. Before creating your content strategy, the key message/message communicated throughout each asset and channel needs to be determined. I would highly recommend creating and implementing Messaging Guidelines/Framework, which will ensure that every content asset aligns with and reflects the messaging strategy of your business. Your Messaging Guidelines would typically include:
Unique Value Proposition (UVP).
Your Unique Value Proposition (UVP) would describe the unique and tangible value your customers would receive by consuming your product/service. This proposition should focus primarily on the benefits of engaging with your business and consuming products/services, rather than on the actual features and solutions your offering provides. This would enable you to quickly address customer needs/pain points and create an effective framework on which to build your marketing messages.
Example: You’ve just launched a technology-based business promoting innovative software that could revolutionize the way other businesses manage their daily activities workflows.
Elevator Pitch
Your Business Elevator Pitch is essentially a 30-second response/narrative/story about your business and the answer to the question: What do you do? This section would flow directly from your Unique Value Proposition (UVP) and key benefits of engaging with your business, as well as consuming your products/services. Your Business Elevator Pitch isn’t your sales pitch but refers to a quick and memorable response within a conversation about your business that captures and maintains attention. The primary goal of the Business Elevator Pitch is to attract the attention of your target audience creatively and quickly, as well as entice and convince them to explore your business further.
Boilerplate
Your Business Boilerplate provides a short and memorable 2 – 5 sentence (100 – 150 Words) description of your business, your core values, and core activities/offerings – inspired by your Unique Value Proposition (UVP). A Business Boilerplate is typically found in digital articles/blogs, press releases, and online business directories. This section should also include a customer call-to-action (CTA), as well as your website and social media channels.
Customer Personas
Your Customer / Buyer Persona section should be comprehensive and contain various crucial information regarding your ideal customer. This section would typically include your customer demographics, psychographics, preferences, expectations, requirements, location, and challenges. This section would also include your customer objectives, the impact of customer challenges/pain points on your broad business goals, and how your business/offering addresses those challenges/pain points – with various case studies as evidence. This will enable you to understand and clearly define the content assets required, as well as the composition of each.
Strategic Positioning
Although your Messaging Guidelines / Framework is dedicated to your messaging strategy, you should include your competitor’s content for comparison purposes. This section would include competitive content, messages, and areas of similarity/difference. This section would also explore how your Unique Value Proposition (UVP) and offering features/benefits compare to your direct competitors, and how these differences strengthen your competitive advantage/positioning. Focusing on competitive content, you’ll be able to discover which content assets are flourishing, and which content assets require optimization.
Content Framework
Your Messaging Guidelines should also include a Content Framework that comprehensively explains the various content asset categories and specifications. The latter could include (1) content pillars / groups, (2) feature / benefit-related keywords, (3) stock image / footage guidelines, (4) brand / colouring guidelines and (5) stage-related catch phrases / slogans – based on the stages within your Customer Journey Map (CJM) / Marketing Funnel.
- Marketing Budget
A Marketing Budget / Expense Plan refers to the cost-related framework/spending limitations created regarding the intended capital expenditure on both traditional and digital marketing-related activities. This budget is predominantly focused on the marketing-related expenditure for approximately 1 year / 4 quarters and forms part of the startup and growth strategy/business plan of your business. The primary categories within a Marketing Budget typically include (1) creation of brand identity elements, (2) marketing-related software and tools, (3) content asset creation and distribution, (4) employees and outsourced personnel, and (5) marketing-related outsourced services.
- Marketing Channels
Your Marketing Channels refer to both the traditional and digital channels on which you’ll distribute and promote your various content assets. These channels refer to the channels discussed earlier and are usually selected based on the traditional and digital locations of your customer – determined through comprehensive market research and analysis. Although a multi-channel approach is recommended, to serve the various content preferences and requirements of your customers, an entrepreneur should select these carefully. When selecting channels, you’ll not only regard the location of your customers but also whether that channel/platform aligns with your overall business vision, brand identity, and marketing-related goals.
- Promotional Content
Once the appropriate marketing channels have been selected, you’ll start crafting customized content assets for each channel/platform – keeping the aforementioned elements in mind. This stage typically includes activities such as (1) copywriting and editing, (2) graphic design processes, as well as (3) other creative processes depending on the content asset type. These content asset types could refer to independent and merged text, image, video, and music-related content. Irrespective of the content asset types selected, each content asset must embed the aforementioned guidelines, as well as your Brand Guidelines – ensuring quality and consistency throughout.
Brand Guidelines
Brand Management forms a crucial part of your business, as it entails the process of researching, developing, and implementing the distinct creative features of your business – enabling customers to associate your brand/business with certain products/services and content assets, as well as easily recognize your business on various channels/platforms.
Your Brand Guidelines / Framework would thus typically include your (1) visual guidelines such as your logo, color palette, and typography, (2) voice and tone guidelines, including taglines, languages, and words/sentences to avoid, (3) image/video/music guidelines, including spacing and colors, and (4) various content asset templates.
Content Mapping
Much like your Customer Journey Mapping (CJM) process, you’ll create a content map for your content assets. This process ensures that the right content assets reach the right customers, on the right channels/platforms, and at the right time – embedding the stage of the customer within the Customer Journey Map (CJM) and the customer personas found within each stage.
This enables a sense of personalized marketing – enhancing your customer experience, given that the content is Customized according to their preferences and requirements. This content map would typically include (1) a summary of each customer persona, (2) the problem/challenge each customer experiences, (3) the customer journey/lifecycle stages of that particular customer, and (4) various content ideas for each stage.
- Marketing Resources
Once the aforementioned elements have been identified and defined, including your Content Map, you’ll decide which resources need to be allocated to successfully implement your Integrated Marketing Strategy (IMS). These resources could include Human Resources, as well as various software and tools to enable the streamlined planning and distribution of your content assets. These resources would typically include internal and outsourced employees, assigned to (1) create content, (2)manage content, and (3) manage channels/platforms.
Irrespective of the responsibilities assigned, each internal and external employee/service should be trained on the aforementioned guidelines – including marketing goals, brand identity guidelines, messaging guidelines, and customer personals at a minimum.
- Marketing Metrics
The last element within your Integrated Marketing Strategy (IMS) would typically include your list of metrics and the software/tools utilized to measure these metrics, as well as how these metrics and measures will be compared with your Key Performance Indicators (KPIs). This section would also typically include the following metrics: (1) Marketing Qualified Leads (MQL), (2) Sales Qualified Leads (SQL), (3) Funnel Conversion Rates, (4) Brand Awareness and Consideration, (5) Customer Engagement, (6) Per Customer Marketing Spend, (7) Marketing ROI, (8) Customer Lifetime Value (CLV), (9) Customer Acquisition Costs (CAC), and (10) Customer Retention.
Together with your metrics and measures framework, you’ll also design your marketing-related reports – which will typically be integrated with the various software tools used to analyze your marketing performance.
Remember to always follow an integrated and multi-channel approach, as your customers are located on more than one. Understand the importance of digital marketing channels, but don’t underestimate the power of traditional marketing channels.
Ensure that your brand identity and messaging strategy are both creative and enticing, as well as aligned throughout your content. Learn to love insights and prioritize the analysis of your marketing performance, ensuring that your strategies are improved continuously. Ensure that you always create a narrative around your business and identify elements of resonance with your customers’ lifestyles.
Remember, your business doesn’t necessarily just have to serve as a means to an end or a solution to a problem. Make the journey enjoyable for your customers and create a relatable story around your business throughout. Because people resonate with people and experiences and not with things.
Go forth and create a magical journey!