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Brand Development

The Key Components of an Effective Marketing Strategy

By Art Fresh | Feb 05 2022

Do you have all the elements of an effective marketing strategy that are essential to defining your brand and building brand identity?
Would you be surprised to learn that the majority of business owners are disappointed by their sales performance?

If you’re one of those people, then you’re certainly not alone. According to Econsultancy, only about 22% of businesses are satisfied with their conversion rates. That means that more than three-quarters of all business people out there are trying to figure out why they’re not making more despite what they feel is a great product or a unique service.
We’ve worked with a lot of entrepreneurs and discovered that the problem lies in their marketing strategy due to a limited understanding of what it takes to compete in the market today. Digital marketing is a force to be reckoned with by those who haven’t fully embraced and happily participate in the online realm. And with so many buzzwords and industry-specific jargon being thrown around, it’s understandable why you’re so overwhelmed.  
What happened to the good old days of developing a product, selling at your community bazaar, and watching it would take off on reputation alone? Well, those days aren’t entirely gone but if you want your product or services to sell and sell fast, you’re going to need to catch up and recognize that your marketing efforts need to be focused online – where the majority of your target market now exists.
If you’ve got a digital brand strategy that is failing you, it may need some tweaking. Here’s a checklist of essentials that you may have ignored but didn’t realize were crucial:

1. Content Strategy 
Content should be at the heart of your marketing strategy. According to content marketing statistics and trends, an infographic on Point Visible, 70% of people would rather learn about a company through articles rather than an advert. And 68% of consumers feel more positive about a brand after consuming content from it.
Content that is compelling, relevant, and authentic is your opportunity to bring value to your consumers while also changing their perception of you towards the brand identity that you are developing.

2. Captivating Storytelling 
Storytelling is helping brands in creating a brand identity and sell more products. Consumers are more compelled by a brand when it is accompanied by a story of someone who has had first-hand experience with the product or service. They relate to the character, their motivations, and their challenges. They’re intrigued to know if they overcome the obstacles to reach their desired conclusion.
By incorporating these ingredients into your storytelling, you draw people into your brand’s narrative. A unique story has the power to set you apart from the competition, forge connections, and positively define your brand image.

3. Invest in Technology. 
The digital age is constantly evolving as are consumers. With more and more people using their smartphones and tablets to communicate and connect, you need to keep up with technology to stay relevant and relate. Train your team to use the channels where the majority of consumers can be found. You can’t afford to limit yourself to traditional forms of communication such as snail mail or email especially if most of your target market are interacting via social media and messaging apps.

4. Connect First. Sell Later
It’s tempting to focus entirely on selling particularly when you feel that ROI is the only number that matters. However, when you focus on branding and sharing your values with your customers, you have a better chance of drawing them in and keeping their attention. Consumers are given a vast amount of options. And at the end of the day, they choose the brand that they feel a connection with.

5. Unified Strategy
Your messaging should be consistent if you want your story to stick. Your entire team should be across all the elements of your marketing and brand strategy and should be using a united approach by expressing the same values.

6. Employee Advocacy
The voices of your employees are an incredible asset. According to Gallup News, businesses with a high number of engaged employees achieve 147% higher earnings per share than competitors. With your employees as advocates for your brand, you’re tapping into the combined power and reach of their networks. Did you know that 82% of consumers proactively seek referrals from peers before making a purchase? That is the power of advocacy.
These mentioned marketing tips are also essential to an effective brand strategy. When consumers perceive you as a brand they can relate to, sales will follow. Ultimately, the consumers you are trying to reach will be more loyal to your brand if you are genuine, relatable, and don't make selling to them your first agenda.
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