Rapid advancement in technology — along with the demands of operating in a world where social media reigns supreme — is causing a myriad of marketing challenges among many companies. We listed down the top four marketing challenges in 2019 and looked into each one to better understand them and perhaps, seek ways on how to address them.
So… you have carried out a detailed marketing campaign. You did everything that you can possibly do to reach out to your target audience. However, despite your commitment to spend hours in crafting and implementing your marketing campaign, you only achieved low conversion rate. First off, what is conversion rate? In digital marketing or e-commerce parlance, conversion rate is the percentage of your website visitors, who actually completed a desired goal, out of the total number of visitors. Simply put, if your website is selling something, high conversion rate means people are buying what you are offering. A high conversion rate is indicative of a successful marketing campaign. Similarly, if you have low conversion rate, it means that your marketing campaign is taking time to take effect or it may not have worked at all. Hence, it is appropriate to recalibrate your marketing campaign; if not, totally overhaul it. Issues on low conversion rate often points to a weak call-to-action (CTA) strategy. A strong CTA is the heart of a conversion action. It is like a sales pitch. You begin by identifying the issue at hand, you describe your product or service, present what it can do to address the issue at hand, and then… you call on the customer to act on purchasing your product or service. However, not many companies are equipped with the skills to craft a strong CTA strategy or implement an effective marketing campaign.
How much does your company allocate as marketing budget? Those in the field know that a marketing budget usually covers expenses in promotions, publicity and advertising. With the ever-changing marketing landscape, the decision on where to put marketing expenses is often tricky. For many companies, hiring a marketing officer is often listed as a move to address this issue. But it can be a costly solution — and one that can demand an extra cost to the company. Hiring an additional personnel to specifically do marketing-related tasks may not be a wise decision. You may be in a danger of incurring more marketing cost than you have projected due to intangible limitations.
Product, price, place, and promotion comprise the so-called “marketing mix.” A good understanding of each spells the difference between failure and success of your marketing endeavors. There are several signs that will tell you that your marketing campaign is ineffective. Some of them are reduced website traffic, lack of interest in your product (which can manifest in low social media engagement), losing customers to competitors, and no clear target market.
Reaching your desired goals comes with being able to measure your results, which means that they have to be specific and detailed; not broad and intangible. How do you track your campaign? What channels — direct, referral, organic — do you utilize? In tracking your progress, you also need to identify the so-called “marketing metrics.” For instance, in digital marketing, there is a long list of marketing metrics or those that provide the numerical data on how your campaign is going so you can check if you have reached your goals. Marketing metrics can be determined through lead conversion, web content, click-through-rate, page views, search engine referrals, and social media effectiveness, among others. These days, it is not enough for a company to be equipped with a generic marketing plan to be carried out by a marketing officer. The demands of today’s ever-changing marketing landscape call for dedicated skills which can address these issues.
How about exploring the possibility of outsourcing your marketing needs?
Companies such as Invesso are equipped with professionals who can effectively and efficiently carry out marketing tasks and address the challenges which go with them. Outsourcing your company’s marketing needs with us comes with a highly-experienced team of professionals, collectively equipped with decades of relevant experience and topnotch credentials to carry out a marketing campaign. It is a cost-effective measure to grow your company even without hiring an additional personnel because you will have a support organization that will do the job for you with a faster turnaround rate. We work with small and medium companies and start-ups, which are interested and excited to grow their businesses. We hope to integrate our business with yours so we can help streamline your marketing efforts like never before. Let’s explore possibilities of being partners by reaching out to us at www.invesso.com. We look forward to working with you and finding customized solutions for your company’s marketing needs.