The key universal marketing strategy to guarantee success isâ€¦there is none. If there was one formula to follow then I think we would all know about it by now. However that's not to say there aren't tips and tricks to perfecting a strategy that works just right for you. Just like having Adobe CS6 on your desktop, the tools are only beneficial if you know their purpose and how to use them.
Know Your Goal
Before you make the decision to throw thousands of dollars into a new marketing campaign you should have a clear goal. Once you have a vision for your company you can begin to put the gears in motion to accomplish your goals. To be successful with your strategy, you should understand it will always be an ongoing process of editing and revision. That being said, make sure your goal stays the same every step of the way.
There are two camps in the marketing world arguing which is better; old school or new school, handshake or friend request. The answer will depend on your needs. In some instances it might be more appropriate to appear at a public event with personalized pens boasting a custom logo, walking around doing face to face introductions rather than standing at a booth with an email signup sheet. On the other hand, with a social media campaign you would be able to reach a higher quantity of leads, but these leads will presumably be lower quality and less likely to convert.
A balance of both relationship marketing and internet marketing is necessary to be a successful company in this day and age. You cannot avoid either; and before you get started, you should realize it will be a trial and error process until you find your magic formula.
Know the Pros & Cons
High touch marketing is most valuable when associated with a greater sales return. For instance, if you are selling a car or other big-ticket item, it pays to cultivate the lead and spend time figuring out your buyer's needs. When less revenue is on the line, it's common to spend less time with the customer. High touch marketing allows you to close the big wins for your company. The only downside to high touch marketing is that it is time consuming; it is hard to recover lost time if you do not close the deal.
High tech marketing is based around convenience. With an online store you can stay open around the clock without paying staff overtime. Another great benefit is your reach can extend worldwide–you are able to widen your target market by meeting the needs of the masses. Social media campaigns are a great and cost-effective way to create brand awareness and drive revenue growth. The greatest disadvantage to high tech marketing is that e-commerce sites do not allow any room for the personal touch many people want in a shopping experience. It's also worthwhile to note that the growth of internet marketing makes it harder to stand out from your competitors.
Within the realms of high touch and high tech marketing, there are endless strategies to gain a competitive edge in the marketplace. Apply the ones that make the most sense for you and your company, and don't be afraid to adjust, readjust, and regularly tweak your campaign to create a unique and effective approach to meeting your goals.