services web development services 300x300 - Marketing Strategy and Audience AnalysisMarketing Strategy Consulting

Without a strategy anchor, we find companies often allocate marketing dollars based largely on intuition, the previous year's budget or on what fared well in recent quarters. A more useful approach measures proposals based on their strategic return, economic value, and payback window.

Marketing Strategies c/o business2community.comThe other prerequisite in shaping an effective marketing program is understanding your target consumers’ buying behavior. That behavior has changed so radically in the past five years that old ways of thinking about the consumer—such as the marketing “funnel”—generally don’t apply. Where the funnel approach prioritized generating as much brand awareness as possible, the consumer decision journey recognizes that the buying process is more dynamic and that consumer behavior is subject to many different moments of influence.

To establish the right marketing mix, organizations need to evaluate the effectiveness of spending by channel. This approach statistically links marketing investments to drivers of sales and often includes external variables such as seasonality and competitor and promotional activities to uncover both changes in individuals and segments over time and interaction effects (differences among offline, online, and—in the most advanced models—social-media activities).

The first step is to gather data and take a 360° view of your market, starting with:

Audience analysis:

  • Breakdown by gender, marital status, age, occupation and income.
  • Analyze location by country, US state and over 1,000 worldwide cities.
  • Drill down into interests, brand affinities and topics of discussion.
  • Rank the people and media who most influence your analyzed group.

Competitive analysis:

  • Your company's competitors.
  • Competitor product summaries.
  • Competitor strengths and weaknesses.
  • The strategies used by each competitor to achieve their objectives.

Analytics

  • Setup analytics on all channels
  • Create dashboards
  • Establish baseline data
  • Identify lead generation KPIs.

Establish Digital KPIs

  • Sales Revenue. How much revenue has your inbound marketing campaign brought your company? 
  • Cost Per Lead.
  • Customer Value.
  • Inbound Marketing ROI.
  • Traffic-to-Lead Ratio (New Contact Rate)
  • Lead-to-Customer Ratio.
  • Landing Page Conversion Rates.
  • Organic Traffic.

To discuss how our approach can help you reach your marketing goals, call us at (413) 658-8470, or contact us online.

Every project presents its own goals, audience, and opportunities. Our approach to great projects begins with a time-tested process that discovers and addresses the unexpected.

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