Top 6 Marketing Spends for 2015
One of the most critical decisions a company will make in preparation for the new year is determining how much of their yearly budget to allocate towards marketing efforts. A study by Gartner Research found that the top 3 marketing challenges that many companies face are growing profitable revenue, connecting with customers, and holding their own against the competition. Here are 6 smart marketing spends that can combat these challenges in 2015 and promote ROI within your company.
- Professional Lead Generation
Quality lead generation is essential to producing the sales necessary to maximize your company’s revenue. Professional lead generation services allow your salespeople to spend less time cold calling and more time building relationships will potential customers. It can also generate higher quality leads for your sales team, making the sales process faster and more efficient.
A good lead generation service focuses on providing leads with accuracy and speed so that your sales team can shift from prospecting to deal closing. Your sales team will no longer have to worry about outdated contact lists, disconnected numbers, and inaccurate information. This will save your company money, time, and resources in the long run.
While employee training can be a pricey investment, especially in a struggling economy, it is one that is essential for the longevity and growth of your company. Be sure that the training programs you have in place are well aligned with your company’s goals, business strategies, and core values. Your company can choose from public or private training programs, with private programs usually being more expensive.
Effective employee training can promote an environment of teamwork, innovation, and creativity. Continuous learning is a must in any competitive industry, and a company should make sure that its employees are constantly strengthening their skills and learning how to better serve their customers.
- Social Media
More than ever, companies are using social media to better reach their target markets, especially if these target markets include millennials. A study by Harris Interactive showed that 68% of millennials are at least “somewhat likely” to base a purchase on what their friends post on social media. They are also highly influential sharers over multiple social media platforms.
When it comes to creating promotions and special offerings for your customers, social media provides flexibility and options that not many other mediums can. Social media also enables you to have a more personal relationship with your customers and potential customers, allowing them to see past your corporate identity and better familiarize themselves with your company.
- Search Engine Optimization
SEO draws attention and traffic to one of your greatest sales assets: your website. Your website is a constantly open and available resource for your potential customers and has no limits on how many leads and sells it can generate for your company.
When combined with social media and other marketing efforts, SEO can lead to more sales and conversions at relatively low incremental costs. By using carefully chosen keywords that have high rankings in search engines, SEO can attract potential customers who are already searching for information related to your services or products.
- Market Research
Market research allows companies to discover new opportunities as well as possible threats in the marketplace through a variety of different methods including surveys, interviews, questionnaires, and test groups. It can allow your company to predict sales during different times of the year and throughout various regions to better determine what business practices would minimize risk and maximize profit.
Market research can also give insight into what your competition is doing and how you should apply appropriate competitive strategies. This can be incredibly useful for setting future goals and creating new game plans.
- Digital Advertising
One of the best things about digital advertising such as Facebook, mobile, and pay per click ads is that it can be targeted. It is effective both locally and nationally and can reach a large amount of your target audience at one time, connecting you with the people that are most likely to become your customers.
The possibilities are endless when it comes types of advertisements you can create through digital media. Digital advertisements also allow more interactivity and engagement with current and potential customers, increasing your brand exposure and making your brand more recognizable.