Marketing is the backbone of every successful business. It is an essential tool that keeps the conversation about products and services going. The average marketing budget of a B2B company should be between 2% and 5% of the total revenue and 5% to10% for B2C companies. If you follow these four marketing strategies used by top brands, you can expect a higher ROI from your marketing efforts.
1. Incorporate SEO in Your Content Marketing
We live in a digital world where buying and selling online is the norm. Statistics show that more than two billion people bought goods and services online in 2020. 82% of marketers actively use content marketing. But in a competitive marketplace where every business is fighting for visibility, getting noticed may not be easy.
As a result, top brands pay top dollar for SEO services that put them at the top of search engine results pages and help them generate more leads. You can do the same for your business. Create relevant, useful content for your audience and incorporate SEO. Learn SEO and use it to rank your web pages or hire an expert to do it for you.
2. Partner with Other Brands
A partnership is a great strategy top brands use to increase their customer base. A strategic alliance enables you to access potential customers without spending a lot of money on marketing. Adidas has increased its customers in the UK through its strategic partnership with football giant Manchester United. The brand signed a ten-year deal as the team’s official kit supplier.
You can use the same strategy. Target big players in your industry and approach them for a partnership deal. A business that offers title loans online can partner with dealerships and give free financial advice in exchange for referrals. The dealerships can share brochures or send emails to their customers to let them know about the title loan company. But before signing any partnership deal, know how your business will benefit.
3. Create an Email List
Email marketing has been around for ages yet remains one of the most effective marketing strategies used by top brands. According to statistics, the average ROI on every $1 spent on email marketing is $36. There are over 4 billion email users worldwide, so there’s great potential if you get email marketing right.
Define your audience and establish your goals before creating an email list. Have a great website with an email sign-up form. Choose your email campaign type and create an emailing schedule. Ensure you send valuable emails to your subscribers without being overly salesy. And tell stories to make it fun.
4. Invest in Charity Programs
Charity programs are great for winning people’s trust and boosting brand visibility. They offer excellent opportunities for businesses to promote their values and market their products.
Start by giving to small community programs. These could be yearly donations to small-scale charity programs or fully sponsored initiatives that benefit the entire community. The Coca-Cola Foundation is a success story that shows how a business can boost brand visibility by being charitable.