In a world where consumers have become very selective and are being advertised for different products from across the globe, the founder or entrepreneur of the product must come up with marketing innovations that resonate with the consumers. It’s absolutely necessary that you acquaint yourself with the consumers’ buyer behavior and the resulting purchase decision in order to develop suitable marketing mixes to appeal to the target customer.
You should bear in mind all the time that you can also be pummeled into oblivion by the competition, so whatever you have to offer must be mouth-watering and unbeatable in order to reach the level of impact you deserve.
Factors like friends, government policies, social networking platforms, and purchasing power, have all been around for a while and affect all the products on the market. However, purchase decisions are grossly affected by emotion and reasoning which border on attitudes and priorities. It’s within your power to make customers root for your product or services despite the strong and overwhelming competition.
In order to attract customers, you need to leverage the following 3 factors:
Traditional advertising proved an effective way of getting clients and potential customers to know about your brand and the product you are launching into the market at any particular point in time over the years.
Inasmuch as your customers would like to know about what they want to buy through advertising, it’s another ball game altogether to get the information from somebody they trust and can easily identify with.
Unless you have been living under a rock, there is no better way to do this than through influencers. Influencers unlike the mundane bill post or the faceless print and electronic media, amazingly register the information where, when, and how it’s needed. They resonate with the customers and can literally get your customers eating out of their hands.
Adweek reports that Activate by Gloglovin’s research has found that 67 percent of marketers think influencer marketing campaigns helped them to reach a more targeted audience. To get this working very effectively for you, the one product or event type of relationship between an influencer and a brand will not work for you. You need to build a more holistic relationship.
To safeguard both the brand and the influencer, the Federal Trade Commission (FTC), has come out with more regulations concerning the use of endorsements and testimonials. This update protects both the influencer and the brand about partnership disclosures and ensures a better playing ground which will give a big boost to the use of influencers in marketing campaigns. That means that you may be harming your brand if you fail to incorporate influencers.
“Influencers are people. People (or maybe personas) with a brand and an audience. What makes them attractive to advertisers is their ability to speak to a very defined group of fans. The way the ecosystem is maturing looks a lot like the internet in the early days” – Mike Schmidt
2. Experiential marketing campaign
No form of advertising will give you the impactful desire, drive engagement, and deliver key messaging, other than that which will enable you to relate to the senses of touch, sight, feeling, smell, and taste of your customers. This is exactly what experiential marketing campaigns will do to your brand.
A sure-fire way to bring about a phenomenal acceptance of your product in the market is to organize an event where you can get a one-on-one session with the opportunity of questions and answers from your customers, thereby giving the customers the opportunity to contribute and bond to the product. The everlasting experience garnered from such sessions by your customers is imprinted on their minds and the attendant effect is to skyrocket sales.
When customers attend events and take part in the associated interactions, they become more emotionally connected and develop stronger brand loyalty that determines their purchasing decisions. With 70 percent of the users who attend these events eventually becoming regular customers, it is a no brainer to coordinate these type of events.
Maya Angelou an author and a poet capped it all for experiential marketing when she said, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”
The game changer to your marketing approach that will remarkably create the huge ROI you crave for is micro-targeting. Micro-targeting or people-based targeting capitalizes on the consumer’s demographic, psychographic, geographic, and behavioral data to predict the buying behavior, likes, interests, and opinions of consumers. You can use the data at your disposal to influence the behavior of your consumer with the help of a hyper-targeted advertising strategy.
“Good advertising does not just circulate information. It penetrates the public mind with desires and belief.” – Leo Burnett
You can turn the collated data into micro-targeted individual ads with predictive analytic tools and behavioral modeling. It’s also within your grasp to sort these common traits that have been identified into groups. A particular group is then recognized for traits that make the members receptive to a type of campaign.
If you are able to co-opt these 3 marketing mixes into your marketing campaigns, your clients will swallow your brand hook, line, and sinker.
How do you increase your audience for your brand? Let us know in the comments below!
Image courtesy of Twenty20.com