Consumers are tired of being marketed to, thus making traditional outbound marketing less effective. Today’s marketers need to take advantage of the modern ways in which consumers engage with brands, and learn how they arrive at their decisions to purchase products and services.
Enterprise-level companies, having established their own set of rules and methodologies, tend to be slow-adopters of the latest marketing strategies that involve new technology. According to research conducted by Marketing Automation Expert Mathew Sweezey, 25% of Fortune 500 B2B companies have already embraced marketing automation. Many of them have started using software to track their campaigns, adopted content marketing as part of their overall web tactics, and have optimized lead generation and lead nurturing techniques to make the most of the traffic they get from their websites.
Regardless of your business size, it is essential for you as a business owner to effectively adopt new marketing strategies that could help your brand reach new heights. Here I outlined some of the ways modern marketers easily beat their traditional counterparts.
Out-Thinking Rather than Outspending Competitors
Modern marketers don’t have to spend the biggest budget or launch the most extravagant TV ad to spark consumer engagement. With a little creativity, they can take advantage of newer, more cost-effective channels to communicate and engage new and existing markets. By constantly getting in touch with their target consumers, and familiarizing themselves with the latest technology in the industry today, modern marketers are able to get the most of their ad and promotion dollars while effectively measuring ROI better than traditional marketers do.
Making the Most of Unique Perceived Benefit
Unique Selling Proposition (USP), which is used by traditional marketers to differentiate one product from its competition, is no longer as important since consumers are presented with a wider range of similar products online which share the same features. Smart marketers today put more emphasis on promoting value rather than uniqueness, or what they call as Unique Perceived Benefit (UPB). Compared to USP which markets products based on the seller’s viewpoint, UPB sells products based on a detailed understanding of the customer’s needs.
A famous example of a company that leverages the power of UPB is Domino’s Pizza. The company’s UPB is “Red hot pizza delivered to your door in 30 minutes or less – or it’s FREE.” They didn’t say they have “the best-tasting pizza” which would be considered as a USP. What Domino’s Tom Monahan did is to focus on what their customers really want in a pizza company by understanding their prospects. The target consumers, at that time, were college students living 30-minutes away from each Domino’s outlet. They order pizza on impulse and prefer a pizza outlet which can deliver right away. It doesn’t necessarily have to be the best in town. UPB is finding out what your prospects really want and finding the means to give it to them when and where they want it.
Leveraging the best of technology through automation
Marketing automation, of software platforms that are designed to automate repetitive tasks, saves modern marketers precious time which they can use to work on more important projects or campaigns that require their attention. Marketing automation, according to studies, leads to improved lead quality, increased marketing productivity and efficiency, increased market visibility and reach, improved consumer interaction, it enhances cross-channel communication, decreases cost of acquiring new business, provides tools to increase effectiveness of campaigns, and its help strengthen relationships between brands and its market.
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