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How to optimise your marketing strategy

maximising

Optimising your marketing strategy is crucial for achieving better results and maximising the desired business outcomes. 

Boost business adviser Purves Ali provides helpful advice on how to achieve these better results and how to receive your desired outcomes.

Tips to help you optimise your marketing strategy

1. Identify problem areas: Use analytical tools to identify areas of your marketing strategy that may not be performing well. This could include low traffic from certain channels or ineffective marketing techniques. Once you identify the problem areas, you can adjust and experiment with alternate strategies.

2. Embrace digital transformation: In today's digital age, it's important to integrate digital strategies into your marketing efforts. A defined digital strategy can help drive digital transformation, customer engagement, and revenue.

Ensure that your digital strategy is aligned with your overall marketing strategy and that you have clear objectives and key performance indicators, (KPIs) to track progress.

3. Apply the 80/20 rule: The 80/20 rule suggests that 80 per cent of your marketing efforts should focus on proven techniques that have worked in the past, while 20 per cent can be allocated to testing new approaches. This allows you to strike a balance between consistency and innovation in your marketing campaigns.

4. Collect and analyse data: Gathering data on the performance of your marketing campaigns is essential for optimisation. Analyse the data to understand what works and what doesn’t and use it to create better-performing assets.

Modern technology can help you capture and analyse market information, providing insights into your target audience and their media consumption habits. 

5. Optimise your website: If you have a business website, ensure that it is optimised for mobile devices. Mobile-responsive websites are crucial for local marketing, as many people use mobile search to find local businesses. Make sure your website appears correctly on smartphones to attract local customers. 

6. Learn from competitors: Analyse the marketing strategies of your competitors to identify growth opportunities. Tools like Similar web can help you track your competitors' marketing growth, understand their marketing channels, and optimise your marketing budget allocation.

7. Align functional areas within marketing: Develop strategies for different functional areas within your marketing department that align with your overall marketing strategy. This alignment increases efficiency and ensures that everyone is working towards the same goals.

Remember, marketing optimisation is an ongoing process that requires vigilance, insight, and the use of data to make informed decisions. By continuously evaluating and adjusting your marketing strategy, you can improve your marketing efforts and achieve better results.

Identifying your target audience

Determining your target audience is a crucial step in optimising your marketing strategy. While the specific target audience for your business will depend on your industry, product, and marketing goals, here are some insights from the search results to help you make an informed decision:

1. Consider consumer behaviour: Understanding consumer behaviour can help you identify your target audience. For example, the Old Spice brand discovered that while men ultimately wear their product, women were making the purchases. This led them to focus their marketing efforts on women.

2. Utilise data and insights: Collecting and analysing data can provide valuable insights into your target audience. Platforms like Facebook offer demographic data, location information, and interests of your website visitors, which can help you understand your target audience better.

3. Focus on specific segments: Your business may have multiple target audiences based on different factors. For example, Nike uses multiple accounts on social media to reach different target market groups, tailoring their content to specific segments. Identifying and focusing on specific segments can help you create more targeted and effective marketing campaigns.

4. Align with your marketing goals: Your target audience should align with your marketing goals and objectives. For instance, if your goal is to target a specific geographic area, you may focus on customers in that area through localised marketing efforts.

5. Consider customer data: Customer data, including demographic information, behaviour patterns, and motivations, can be crucial in identifying your target audience. Collecting high-quality customer data can help you succeed in your marketing efforts.

Remember, these insights are general guidelines, and it's important to conduct thorough research and analysis specific to your business to identify your target audience accurately.

Conclusion

Identifying your target audience is a critical step in optimising your marketing strategy. Consider consumer behaviour, utilise data and insights, focus on specific segments, align with your marketing goals, and consider customer data to determine your target audience.

By understanding your target audience, you can create more targeted and effective marketing campaigns that resonate with your customers and drive better results.

About the author

Purves Ali

Purves is an experienced and accredited business adviser with over 20 years’ experience delivering enterprise projects. He can offer expert advice and support to both startups and existing businesses as well as on available funding and grants.

Purves has extensive experience as a business development consultant helping businesses at all stages of growth with planning, project management, marketing and team development.

If you’re looking to grow, scale or start your business, use Boost; Lancashire’s Business Growth Hub. We offer a range of funded business support services. Call our Business Support Helpdesk on 0800 488 0057 to find out more or complete our enquiry form.

 

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