Marketers often tend to cater to one element of the marketing strategy through a singular outlook. Typically marketers spend more on-demand marketing than brand marketing. However, the research shows that balanced investment in both can help to optimize your growth marketing.
These are the key principles that call for a Balanced Approach to your Brand.
Customer and Non Customer
Sustain the growth by targeting both existing customers and new customers together. The research shows that business growth is fueled by increasing customer loyalty.
In order to grow, your brand needs to be recognized and remembered by consumers. Plan your campaigns that aim to increase your company’s growth and achieve fame.
Short Term and Long Term
Short-term demand generation and long-term brand campaigns both are equally important to a company’s growth. Short-term efforts help in creating the demand whereas long-term campaigns efficiently convert the demand into revenue. So invest in both to drive the growth of your brand.
Broad & Narrow Targeting
Broaden your target audience and go beyond your existing customers in order to grow. A broad targeting strategy is the best way to drive business growth whereas Narrow Targeting focuses on a particular audience and uses the idea of “being the best to a certain audience”.
It will be great to know what kind of marketing strategy you apply for your business, do share your business growth marketing in the comments.