Depending on who you talk to, you’ll receive multiple answers. Some of it is good, bad, or downright absurd advice.
Some will point you to social media, email campaigns, podcasts, TikTok videos, radio advertisements, etc.
Unfortunately, none of those are marketing strategies but rather the latest or existing tools available for you to use.
What Is A Marketing Strategy?
A marketing strategy refers to a company’s complete objective of reaching potential customers through lead generation.
The marketing strategy is a well-designed plan with a start and end date and an A/B split-testing timeframe.
Inside the plan, specific tools, i.e., social media, email campaigns, or direct mail, are chosen to test which provides the most leads.
Once the testing phase ends, the results are calculated to determine which tool(s) outperformed the rest.
Those results will show how many new leads were generated and the total sales received.
How Important Is it to Test Your Strategy?
Running a business has always been costly. No owner or decision-maker wants to spend company money carelessly.
For every dollar spent on marketing, they expect a healthy and profitable return on that investment.
To ensure money is spent wisely, you must first test to see if potential customers are interested in your offer.
A strategy is designed to reach a specific target audience, preferably consumers who have purchased before.
What the results show will determine if the company should or should not expand its reach to a broader audience.
The critical thing to remember is if a small test group of people will not buy, there’s no reason to move forward with the strategy.
However, if there was significant interest within the group, the strategy uncovered potential leads and sales opportunities.
How Long Should A/B Split-Testing Take?
The importance of A/B split-testing lets you know which marketing message generates the most leads versus sales.
It varies, depending on the tool(s) chosen. For instance, direct mail could take six months, but your email takes one to two weeks.
The other thing to note is that any marketing tool(s) used may or may not be the best medium for your marketing message.
For example, your PPC ads generated more leads than your email campaign.
However, your emails produced a larger sales volume than your online advertising.
That is why we always recommend split-testing your marketing strategy to discover which produces the most leads versus sales.
When meeting with a marketing consultant for the first time, listen carefully to what they say and recommend.
Please remember, there is no such thing as a “One Size Fits All” marketing strategy solution for every business.
What is created for your company should only work strictly for you because no two businesses are alike.
When you’re ready to discuss or develop your marketing strategy, we can help. Contact us and schedule a free marketing consultation.