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The Importance of Using Marketing Strategies

Whether you are in a small, medium or large business, you’d do well with a marketing strategy. Companies that want to excel in today’s competitive economy require not just any marketing strategy but the best they can find, whether in-house, customized or out-sourced.

There are many types of strategies to promote your company products or services. There are simple or sophisticated strategies which have been proven, and can be easily applied to most organizations.

Campaigns are different from strategies; a marketing strategy is an approach to market or promote the business products or services to confirm transactions that will keep the company viable. It can also be called a plan which is used to give the company an added advantage or project a more attractive image to its intended buyers of its products or services.

Purpose of Marketing Strategy
A strategy must bring in the sales when implemented; otherwise, it is a failed strategy. Time, effort and money are wasted which are considered losses to the company. Different strategies are employed not only for the different products and services of the company, but also target at different market segment or users. Hence, it is important to identify what the focus of your strategy is.

Marketing strategies Media
Some marketing strategies include print campaigns like advertisements in the newspaper or billboards. These are meant to instill awareness of the company’s products and services to a larger audience. Nowadays, the Internet provides a most conducive platform as part of the company’s strategies. Some companies may choose the television or radio media to execute their strategies if they are focusing on certain types of audience for their goods and services. For example, companies which manufacture household products may choose to market their products through the television medium as a commercial which targets housewives.

Factors involved in Marketing Strategies
Whichever strategy you may choose for your company’s products or services, you will need to consider the item to be promoted, the targeted audience or buyer, the duration of the strategy, the budget and the expected results. At times the company may be able to use a strategy for several of its products and services while at other times, not.

There must be a specific audience identified to that chosen item to be promoted so that, that specific category of buyers will be tuned in on the promotion. A marketing strategy cannot go on and on as the target audience may feel bored with it or develop negative feelings or opinions about the company’s status.

There must be a budget to work on a specific strategy for a specific product or service identified for promotion as there may be other products and services which will demand the same attention and priority for good sales. A specific budget is also necessary to ensure that the strategy does not exceed the expected expenses to promote the identified product as the bottom line is to recoup these expenses and more.

Hence, the most important aspect of a marketing strategy is the expected results. The strategy employed should bring in more revenue to the company which covers the expenses expended on that particular product or service.

How to Avoid the 7 Deadly Sins of Direct Marketing Lead Generation

If your sales team often complains about the leads they receive from your direct marketing campaigns – or if you’re frustrated with lackluster lead follow-up and low conversion rates – you may be unwittingly committing one of the seven deadly sins of direct marketing lead generation.

Here are the common mistakes business-to-business marketers make with lead generation and tips on how to avoid them:

1. Leads are not qualified.

Problem: All responses are sent to the sales force regardless of their potential value. Sales reps waste time chasing weak prospects because they don’t have the information to distinguish good leads from bad.

Solution: Ask questions on the direct mail reply form, the web response form, or via your call center to qualify prospects by their level of interest and authority to purchase. Share this information to help sales reps prioritize their efforts.

2. Leads are from the wrong prospects.

Problem: The mailing lists you used in your direct marketing campaign didn’t reach the right decision-makers, so responses came from people who probably can’t or won’t become buyers.

Solution: As you develop your direct marketing strategy, ask the sales team to pinpoint the demographics of an ideal buyer. Choose mailing lists to reach these decision-makers and add selection criteria to narrow the list down to people who most closely resemble your best customers.

3. Leads are too old.

Problem: It takes so long to forward leads to sales that prospects lose interest in the offer or forget they responded. By the time the sales rep reaches the prospect, the lead has gone cold.

Solution: Assess your lead distribution process from top to bottom to find out what’s slowing things down. Eliminate unnecessary steps or revamp the system to get leads to reps as fast as possible.

4. Lead data is sloppy.

Problem: The lead data you send to reps is incomplete or riddled with errors.

Solution: Set stricter guidelines about what information must be required before a lead is sent to a rep and review the data input process to assure data quality.

5. Too many leads are sent at once.

Problem: The sales force is overwhelmed with a large volume of leads they can’t efficiently handle in a reasonable timeframe.

Solution: Test your direct mail to a smaller list to gauge likely response. Plan the execution of the direct marketing campaign in stages to create a steady flow of leads rather than a flood.

6. Sales reps don’t know about the promotion.

Problem: Leads are sent to the sales team from a direct marketing campaign they know nothing about.

Solution: Get reps on board early in the process by alerting them to your upcoming direct marketing initiative. Seed them on the mailing list so they receive samples when the direct mail drops.

7. The sales team doesn’t have the right tools to follow up.

Problem: Responses come in before the proper sales demonstration materials have been created or sent to the sales team. While sales reps wait for product samples, sales collateral, or sales presentation kits, prospects may be hearing from your competitors.

Solution: Plan for the development of sales demonstration materials when creating your direct marketing strategy and don’t drop the mailing until reps have the tools they need to convert leads to sales.

Direct Marketing – One of the Most Effective Forms of Marketing Today?

Direct marketing can be said to be one of the most effective forms of marketing today. This is because by this method, products are ‘directly marketed’ to a potential customer either by a telemarketer or salesman. This type of marketing has been around for quite a while but in the recent years numbers of such people carrying out direct marketing activities has increased by a large amount. Companies whether large or small find that this form of marketing brings them a lot of customer because of the ‘personal touch’ that is associated with it. You too could probably testify to have actually bought at least one product that was marketed to you in this manner.

Does this type of marketing work for everyone?

If you are a business owner looking to employ these marketing techniques, whether or not direct marketing works for you would depend on what kind of business you run and who you want to target. It would also depend on other factors such as resources and how much you are willing to spend on it. You would also need to consider what type of marketing you wish to take up.

The types of direct marketing could be categorized into several types. Firstly, telemarketing, where products are promoted by calling potential customers. Secondly, email marketing and thirdly direct mail marketing. Other forms could include infomercials, distributing flyers and advertisements in magazines.

Simply using these marketing techniques however will not get you the desired results. It takes time and a lot of hard work to get customers to actually purchase your products. You would therefore need help with good marketing solutions.

Finding good direct marketing solutions:

Several websites offer great help regarding this type of marketing solutions. For these marketing solutions to work effectively you would need to be aware of the issues that you are facing with your direct marketing activities. This could include poor customer satisfaction, delayed response, low level of sales and so on. Once you identify the problem you will be able to employ the direct marketing solutions that would help you deal with it the best.

If you are not satisfied with finding these marketing solutions on your own however, you could also turn to a good, reputed direct marketing agency that will provide you with all the help that you need to ensure that you have a good marketing plan and that you see results of these marketing solutions.