- Sep 14, 2022
What Are the 7 Pillars of Marketing?
All business owners and managers will agree that marketing is an expense that must be incurred in order to operate a company, yet it's normal for companies to consistently invest funds in marketing initiatives without seeing a return on their investment. Your marketing funds are simply squandered if the marketing efforts aren't generating new leads and sales for your company. You may have a stunning website and excellent blog posts that establish you as an expert in your field. To get ROI on your marketing investment, make sure your marketing activities are part of the 7 Pillars of Marketing:
Pillar 1: BrandingBuilding a powerful brand promise requires that your company's brand messaging and business value proposition be crystal clear. Your company is distinctive because of your "brand." People are more likely to recognize a name, symbol, or design. A company's branding is what potential clients and consumers associate with it and what distinguishes its goods and services from those of its rivals. Define your brand Building your brand is quite similar to an exercise in self-discovery. For the majority of us, it takes time, is uncomfortable, and is challenging. Answer the following questions to begin developing your brand after taking into account the requirements, preferences, and customs of your current and potential clients:
- What is the purpose of your business?
- What advantages do your products or services provide?
- What perception do customers have of your business?
- What qualities and features do you want customers to identify with your business?
Pillar 2: VisibilityTo attract potential customers, it is important to increase online visibility through both free and paid platforms. When promoting a business online, you have the advantage of being able to specifically target your prospective customers and reach millions of individuals with a few strategically placed, attractive advertisements. Increasing online visibility can be accomplished by:
- Social media activities
- Local SEO
- Organic search results
- Pay-per-click advertising
- Banner advertisements
Pillar 3: AuthorityEstablishing credibility with industry insiders and rivals requires creating authority through thought leadership. Although it won't happen immediately, you can become recognized as an authority figure with time. You can engage in a variety of actions to start establishing your authority, such as: Write a book: While promoting your expertise, you can inform potential clients about your sector. Write articles for trade journals and industry magazines: Find periodicals, journals, and newspapers whose readership is likely to be similar to your target market and create educational articles for these publications. Obtaining one "yes" will lead to another "yes," and with each new article published in your industry, your credibility will increase. You certainly won't have every article you write accepted for publication, but getting one "yes" will lead to another "yes." Become a speaker: Participate as a speaker at industry gatherings to educate the audience about your field. Speaking at an industry event not only establishes you as an authority in the field, but you may also leave with new clients and sources of income. Become a teacher: Hold webinars, conferences, and seminars. Teach your audience what you know. Start a blog: On your own blog, publish industry-related posts regularly. As you gain experience in the field, other websites in related industries may connect to you as the expert on the topic.
Pillar 4: Social PresenceProspects and consumers are more likely to engage when a business has a strong social presence. It can also help your company expand more quickly than weeds, but only if you have a sizable fan base and understand how to give them the information they want. A social media profile on Facebook, Twitter, Instagram, or LinkedIn is now as common as a driver's license. Though it may require a little more thought than simply telling your followers what you had for dinner or your daily workout stats, using social media for business does. If used properly, social media for business can boost your organization's visibility, convert leads into customers, and boost profits. Pick the right platform for your company's social presence Although you might enjoy using Facebook for personal purposes, boosting your company's social media presence might necessitate using other networks. Establish your company's presence on the social media channels where your target market is active. Setting specific key performance indicator goals for the number of followers or shares of your material will help you track your progress even though it might be challenging to quantify the effectiveness of social media for business in terms of income. Increasing your reach and visibility on social media is more important when you're a business. Any of the social media platforms allow you to engage with potential clients and customers; just make sure that you keep up with your accounts and reply to messages sent to you.
Pillar 5: ConversionConversions are significantly impacted by the use of the right call-to-action. The goal is to make sure that visitors can act and transform from website visitors to leads. When visitors arrive at your landing page, you must know what specific action you want them to do. For the business, not getting a website visitor's contact information is a missed opportunity. It is crucial to converting website visitors and the online audience into leads by making relevant and targeted offers. When it comes to your website, keep the following in mind:
- You only have eight seconds to grab a website visitor's attention. If you don't achieve this with a catchy headline and landing page, visitors will leave before they even learn what you have to offer.
- The number of leads you generate from a website increases as you add more landing pages.
- Purchases can rise by as much as 144% when videos are used to describe goods and services.
- The secret to increasing conversions is A/B testing of your content.
Pillar 6: NurtureIncreasing sales requires educating and assisting leads until they are prepared to make a purchase. The journey of the customer starts when he or she decides there is a demand for a good or service and concludes when the buyer makes the purchase. You want to keep providing potential purchasers with the details they require in order to make decisions about purchases later on throughout this interim period. You can achieve this through remarketing and email marketing. Through the use of adverts on websites that are a part of the Google Display Network or while using Google to search for information about your product or service, remarketing is the key to contacting visitors who have already been to your website. 72% of prospective customers will use Google to start their investigation when they discover they have a problem that must be solved by buying a good or service. Buyers are now doing product research, looking for instructional resources, and reading customer comments or reviews. In fact, almost 70% of the buyer's journey is finished before they even start looking for a place or company to purchase their product or service from, according to SiriusDecisions. The key to closing the deal is to use the nurturing process to make sure that your business comes to mind when they need to make a purchase.
Pillar 7: MeasurementKPI measurement is essential for campaign optimization. Key performance indicators, or KPIs, are metrics that a business uses to assess whether it is on the correct path to success. If things aren't going as planned, evaluating KPIs enables you to pinpoint where adjustments should be made. Reaching a specified threshold for clients, sales, or revenue within a given timeframe are all examples of key performance indicators (KPIs). Other KPI metrics you should monitor include:
- Traffic Sources
- Bounce Rate
- Conversion Rate
- User Demographics
- Network Referrals
- Search Engine Ranking
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