Marketers may support sustainable revenue development by embracing data-driven decision making, customer centricity, and digital marketing.
SME marketers have a significant impact on their companies’ ability to grow. These marketers may advance their companies with their abilities, strategic thinking, and customer-centric approach.
There are several approaches for marketers to stimulate growth. Creating a strong brand identity is one approach. A powerful brand can make you stand out from the crowd and draw in new clients. Focusing on customer acquisition and retention is another option. This can be accomplished via a range of marketing techniques, including social media marketing, pay-per-click (PPC) advertising, and search engine optimisation (SEO).
For marketers, the following strategic actions will be useful in more detail:
Creating a customer-centric strategy: By creating and implementing customer-centric strategies, marketers may stimulate growth. To segment the target population, understand client demands, preferences, and behaviours, and implement marketing activities like individualised emails and advertising as well as specialised product offerings, they need do in-depth market research. Delivering outstanding, customised client experiences through all touch points should also be their main priority.
By concentrating on a very particular customer need and convenience — the routine replenishment of shaving and grooming materials, with a touch of pampering — The Dollar Shave Club, a subscription-based shaving kit firm in the US, upset the traditional shaving market. Rapid growth and a successful purchase by Unilever were the results of their customer-centric strategy combined with entertaining and compelling marketing initiatives.
Leveraging digital marketing: To reach a larger audience, increase brand recognition, and spur growth, marketers should take advantage of digital marketing’s power. They should provide interesting content that resonates with the target audience via blogs, social media, and videos in order to develop thought leadership and increase brand visibility. In order to increase organic search results and search engine ranks, marketers should adopt SEO best practises and optimise website content.
Content marketing was employed by Airbnb, a small business at first, to promote growth. They started a blog called “Airbnb Magazine,” which included travel advice, insider secrets, and anecdotes. This content-driven strategy helped it establish a reputation as a reliable travel portal in addition to drawing in new consumers.
Adopting a data-driven decision-making approach will help marketers improve their strategy, distribute resources wisely, and spur growth. To monitor and analyse important data like website traffic, conversion rates, and consumer engagement, they make use of web analytics solutions. To locate opportunities, improve campaigns, and effectively allocate marketing expenditures, they leverage the insights from these.
Key to retaining clients
A/B testing are used by marketers to compare various marketing strategies, boost performance, and determine the most effective creative and call-to-action.
In order to tailor their offers and increase client retention and growth, Swiggy and Zomato regularly examine user data, such as dietary restrictions / preferences, ordering trends, etc.
SME marketers can further accelerate expansion by creating fresh goods and services and entering new markets. These are risky, but they can also be quite lucrative. A company can access a new consumer base and increase its revenues if it can successfully enter a new market, whether through the introduction of a new product or the expansion of its geographic reach.
