Marketing can be a difficult venture for those new to the business world. If you aren’t careful, you can waste hundreds, thousands, even millions of dollars on the wrong campaigns. You can’t afford to be throwing away your time and money on things that won’t work out. If you want to get things right from the get-go, do the following.

Conduct Your Research

Bad marketing usually starts with bad research or no research at all. You can’t just start throwing money at social media ads and search engine listings. Start out by looking at what is going on in your particular market. Identify who your target audience is. Identify who your competitors are. Make sure that you know what they are doing to reach customers. Determine where they are doing well and where they are falling short. This will help you determine your value proposition. This type of research is going to help you to focus your efforts on a plan that will hit a specific target audience. You will get a much bigger bang for your buck this way.

Source: https://www.patriotsoftware.com/blog/accounting/how-to-conduct-a-market-analysis/

Use the Right Platforms

Once you know who your audience is, you need to determine how you are going to reach them. You can use internet ads, mobile app ads, tv ads, video streaming ads, social media ads, emails, and even text messages. Each of these platforms has their pros and cons. For example, text messages have a 98 percent open rate, while email only has a 20 percent open rate. However, you must be careful with text and other forms of direct communication. Even with a good offer, you are likely to anger consumers if you use their phone number to contact them without prior permission.

Source: https://www.podium.com/local-marketing/auto-repair-marketing/

Data Tracking

Even the very best marketing plan is going to need to be flexible. The novice marketer will formulate a plan, hit the green light, and then wait for things to happen. You need to take a more involved approach. You should be carefully tracking the data related to your marketing campaign. Study the differences between the number of views and the number of clicks. Read customer responses to social media posts. Tracking this sort of data will allow you to see insights about how you can continue to modify your marketing campaign.

Source: https://www.helcim.com/article/keep-track-of-customer-data-with-a-crm/

No marketing strategy is going to last forever. This is because the world we live in is constantly changing. You need to make sure that your marketing strategy has room to grow and change with the world. Set dates to re-evaluate and modify your strategy as necessary.

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