Hope smiles from the threshold of the year to come, whispering, ‘it will be happier’ – Alfred Lord Tennyson
Hello 2021; buh-bye 2020! It seems like just about everyone eagerly awaited the moment they could bid farewell and good riddance to ‘the year of the pandemic.’ During a time that forced great change upon us all, the anticipation of a bright, new future began building weeks and even months before the clock struck midnight on December 31, 2020.
Now that the New Year is well upon us, is your business prepared to meet the challenges that may lie ahead? What worked before won’t today in all likelihood so a copy and paste of last year’s marketing plan is not an option. Achieving success this year calls for a new plan of action, a steady but flexible strategy, allowing us to adapt to the circumstances surrounding us.
Content is Key
In June of last year, this newsletter illustrated how companies who maintained or grew their marketing efforts during times of economic uncertainty actually increased their sales and market share. In fact, according to a CMO survey conducted by the American Marketing Association, 62 percent of study participants report that marketing’s importance has grown during the pandemic, due to its critical role in digitally reaching customers.
A recent Forbes Council Post stated that 80 percent or more of the sales cycle now takes place in remote or digital environments. Now, more than ever, prospects are making more decisions before contacting a company directly and they expect to find what they need on your website and social channels. For these reasons, a key focus of your 2021 marketing strategy should be on inbound and content marketing.
“In 2020 companies began to focus more on content marketing to compensate for the loss of sales leads that previously came out of trade shows, events and in-person networking,” explains Roy Strunin, Lead Marketer at Marketing Direction. “That trend will continue in 2021, however, that shift has made the content space much more crowded and a more difficult place to stand out.”
The result, Strunin states, is that content needs to be more engaging and valuable to the reader. Today’s content requires a great deal more thought and insight into your audience. People don’t want to see a 30-minute sales pitch; they want to know what value your product or service has to them specifically. It’s Marketing 101: sell the benefits, not the features, because benefits are what make buyers purchase.
Keep ‘em Coming Back for More
Wouldn’t it be great if you could continue selling to your existing customer base? It’s easier and more efficient to sell to those who are already familiar with the benefits of your products than it is to try and find new customers. There’s a name for this methodology – retention marketing.
Retention marketing is the set of activities that seek to maintain customer relationships resulting in higher marketing ROI through continued sales at a lower cost per sale. Also known as loyalty or lifecycle marketing, this strategy can increase both the amount of time a customer continues buying from you as well as how much they buy. According to Harvard Business Review, a five percent increase in customer retention can deliver up to a 95 percent increase in profits.
What are some effective ways to keep clients happy and coming back for more of what your company has to offer? Again, it’s all about delivering engaging content.
One way, suggests Strunin, is through onboarding and education. “He who educates the market owns the market,” Strunin says. “Position yourself as the expert in your particular industry and be sure to include personalized messaging when communicating with existing clients.”
Additional retention tactics include consistent communication, continuing customer support, surveys, testimonials and, of course, client appreciation.
Make Content More Interactive
A great way to keep clients engaged is by making content more interactive. Encourage more ‘audience participation’ by creating interesting quizzes and surveys, asking followers to share your posts on social media, developing infographics and filming videos. “This type of content is much easier for people to consume than reading a four-page white paper,” explains Strunin.
The fact is that hardly anyone has the patience to sift through a boring and comprehensive document searching for nuggets of information. A study conducted by Microsoft illustrates that the average human being now has the attention span of eight seconds (squirrel!). Interactive content promotes engagement as it requires customers to actively participate. More time spent on your site could result in more money spent on your products.
In conclusion, it’s a new year and a new environment. Make sure your marketing and sales efforts continue to evolve so they support your goals and help make 2021 your best year yet.
