Building an Effective Marketing Strategy for Sales
By Christina Fiebich, Marketing Director
Constructing a successful marketing funnel is an excellent way to maximize a strategy for increased sales and profitability. A marketing funnel is a strategy for turning potential consumers into a sale and ultimately a loyal customer. Most businesses can start implementing a plan within a month and fine tune the funnel for each industry within a financial quarter. Coming into a new quarter is a good time to start. Try these simple steps to create a marketing funnel – and increase sales.
Narrow down demographics. Start by targeting your ideal audience to create a strategic plan. One of the most common mistakes brands makes is to cast an overly broad net about your audience scope. The larger the crowd, the more likely one is to get lost in the noise. Honing in on your target demographic, in turn, helps improve the accuracy of brand reach and generate greater brand awareness.
Define goals. Make your final goal clear for the marketing funnel. What do you want potential consumers to purchase or experience? If it’s a specific product or service, outline different processes to achieve that goal. There is no “one” winning strategy from the start. So you’ll want to brainstorm different possibilities to figure out the best funnel for a company.
Build out the plan. When building out the plan, try to eliminate as many steps as possible for the consumer. The longer the process for someone to connect with your brand, the harder it will be to make sales. Also, take into account the different buying experiences and mentality consumers may have with the store or website. For instance, some consumers make purchases logistically more than emotionally.
Execute. Accomplishing a marketing funnel requires detail as much as it does exploring different tactics and latest advertising and PR trends. So it’s important to rin flexible and nimble, and ready to pivot when executing. Scope out the competition, and like-minded brands, and take note of the marketing funnels they implement. This step should include a buildout and data to support the plan.
Track results. In order to successfully improve a plan, every business should be tracking results and analyzing the data available. This will give you a better idea of where consumers get stuck and how effective the plan works with the demographic. It also lets you make any necessary adjustments as needed and in real time.