The “Do’s” and “Don’ts” of Marketing Your Business
Jan 05, 2023
When aiming for growth as a business, marketing is a key component. However, doesn’t it seem that when it comes to the rules of marketing in today’s consumer world, there are no rules? That’s not necessarily true. To be sure, there are marketing tactic trends and discoveries that pop up all the time, and each can benefit or detract from your business goals.
Nevertheless, there are and always will be a few simple marketing “Do’s” and “Don’ts” that should be followed no matter what. And to seize opportunities to grow your business the right way means learning, understanding and implementing these basics correctly and consistently. How many marketing tactics in the following list do you practice, and what others could your business improve upon? Let’s take a look.
DO: Your Research
Understanding your audience, your goals and your industry at large is a valuable step in maximizing the success of your marketing strategies. Fortunately, research can take several forms so you can form a global perspective. From there, you’ll be able to develop more targeted strategies that work on multiple levels.
Here are just a few ways to conduct that research:
Talk to your customers. Be engaged in your local customers and community. Take surveys, reach out personally or through social media. They are your biggest influence on new and prospective customers.
Talk to your employees. What are their likes/dislikes with your business? Do they have insights into what’s working and what’s not? Use those insights to your advantage.
Keep an eye on your competitors and their strategies.What’s working for them? And if you’re not doing the same thing, why not? (More on that below.)
Stay alert and learn to be nimble. Watch for changes in the industry, in consumerism in general, or with new trends, and in your target audience on various channels.
DO: Have a Strong Social Media Strategy
Around 57% of the population is active on social media (1).So in today’s marketplace, it is crucial for any brand to have at least some social media presence. After all, it’s the strongest “word of mouth” tool out there; it’s how most consumers these days will learn about (and likely form their opinion of) your business. Social media marketing also provides a direct channel to consumers and allows for a variety of content to promote your product or service.
If you’re having trouble deciding which social media platform to pursue in marketing your business, consider where your audience interacts with similar brands. You don’t need to post on every platform, but each one has its particular advantages to reach new and current customers.
DO: Utilize Search Engine Optimization
Search engine optimization (SEO) keywords should be utilized strategically to help Google identify your content. Keywords are specific terms related to your business, brand or the product you sell. When consumers go online to search for your product or type of business, these keywords help to put your content in front of your audience in the search engine. In fact, 61% of B2B marketers stated that SEO and organic traffic generate more leads than any other marketing initiative (2). In other words, an effective SEO plan can help you gain more traffic to your website or social media page — often resulting in new business and more revenue.
DO: Implement Email Marketing
Although email has been around seemingly forever, it should never be discounted as a prevalent, successful, still-relevant marketing tool. Digital marketing such as email allows you to create a customized experience for your audience that builds community and encourages engagement. 77% of marketers have seen an increase in email engagement over the last 12 months (3). Email marketing is also valuable because it allows you to gather reviews and insights, generate traffic to your website, and send timely campaigns without worrying about a particular algorithm.
DON’T: Try to Engage Everyone
Your mind may go directly to a marketing strategy that aims to cast a wide marketing net and reach as many people as possible. Be warned: This strategy can do more harm than good. It is important to think of the specific audience you want to reach or the audience your business serves, and aim to market locally to reach them. Because if you try to speak to everyone, you’ll possibly end up connecting with no one.
Here’s what we mean by that: If you try to create a message that speaks to every demographic, your message would have to be so broad and vague that you risk the chance of very few people (if anyone) relating to it. Not every audience, every market, every consumer wants or needs your product. Identify who does, and then engage with them in a way that helps them understand how your business or product will improve their particular life circumstances.
DON’T: Forget About Your Customers
While reaching new customers is a good goal, building and rewarding customer loyalty is just as beneficial. So make sure you’re showing your appreciation to those who are already giving you their business. A customer who feels valued will give you repeat business and will likely bring you more customers, so marketing to them with incentives (e.g., loyalty rewards, exclusive offers, unbeatable customer service, etc.) that get them coming back is, frankly, a no-brainer.
Your business needs both new and existing customers, but your marketing strategies can’t risk alienating one audience in pursuit of the other. Find the right strategy and reap twice the reward — a win-win!
DON’T: Ignore Data
In today’s business world, the ability to gather, harness and use data to your competitive advantage is the key to growth and success. Why? Using fact-based data to inform your marketing efforts goes a long way in providing you with numerical values to your decision-making process. Ignore that data, and you run the risk of making decisions and running offers or marketing campaigns that do not connect with your customers. Use data to learn about what your customers want and how they respond to your product, service or offers — then in turn, use that data to see what to keep going and where to make more improvements.
DON’T: Ignore Your Competition
Unless you serve an extremely specific market, you most likely have other businesses competing for your customers. So here’s the world’s worst-kept secret: They’re watching to see how you’re marketing, what you’re offering, what’s helping to bring in business. Are you doing the same to them? If not, you should be. Keeping an eye on other industry competitors can be beneficial in many ways, and ignoring them could lead to unnecessary surprises.
Analyzing competitors can also inspire marketing trends. Do they tailor their marketing to different consumer demographics? By keeping a watchful eye on the businesses in your industry, you can help ensure your business is at least on par with your competitors and identify opportunities to gain an advantage.
DO: Use Acima Leasing to Help Attract Entirely New Customer Groups
An additional marketing decision you should definitely consider is to offer Acima Leasing in your brick-and-mortar and online stores. Not only is it an easy alternative to financing for your current customers, but Acima Leasing’s lease-to-own solutions can also help you attract previously out-of-reach customers by giving them greater shopping power without using credit.*
By implementing these suggestions you’ll be on your way to more customers, a greater connection with those customers, and a greater increase in revenue for your business. Be sure to check out Acima Leasing’s FAQs for more information around what Acima Leasing can offer your new customer groups.