What is your biggest marketing challenge?
According to MarketingCharts, the 7 biggest marketing challenges that companies face today are:
-Improving the conversion of your audience
-Improve on content distribution and promotion
-Improve content quality and quantity
-Improve on content marketing measurement
-Increase the size of your audience
-Know your audience better
-Segment your audience better.
Let’s solve each of these seven marketing challenges.
1. Improve Conversion of Your Audience
Increasing the conversion rate is one of the challenges businesses are struggling with the most.
According to Hubspot, only 22% of businesses are satisfied with their conversion rates online.
One of the biggest components to increasing conversion rates is trust. The higher the price point then, the more trust is needed for conversion.
So, the question is, how do you build more trust?
One way to build trust is by consistently creating valuable content that shares your knowledge and demonstrates your skills.
But the Content Marketing Institute reports that 59% of businesses do not have a content strategy. But 69% of the top-performing B2B content marketers do have a content strategy in place.
Content is key to attracting, engaging, and converting your ideal audience.
Here are a few different types of content that can build rapport, create engagement, and increase conversions.
Content that can build trust are blog posts, articles, podcast episodes, infographics, e-newsletters, social media posts, and videos.
Content that can increase conversions are newsletters, promotional emails, long-form sales letters, short-form sales letters, video sales letters, and webinars.
2. Improve on Content Distribution and Promotion
Content distribution is reaching new people in the target audience and introducing them to the company. Today this is achieved with content such as infographics, listicles, e-books, blog posts podcasts, white papers, video, and webinars that engage the audience. Distributing the content can be done across social media and via email.
Here are some strategies to improve your content distribution and promotion.
a. Develop a network of other sites that you can syndicate your articles
As your audience grows, so should the number of websites that you build relationships with and cross-promote each other’s content. This is a valuable strategy for several reasons. Sharing content from other sites provides content for your site that you do not need to create. Sharing your content on similar sites can introduce you to new audiences.
b. Share your content on social media
Sharing your content on social media creates several benefits. The first benefit is its content for your social media platforms. The second benefit is that is if you are featuring content of other people, such as a syndicated article or a podcast interview, the person you are featuring may share the content on their social media sites and link to your website. Both strategies can increase your content distribution and traffic to your website.
c. Promote your content with Facebook ads
Promoting your content can help you reach new audiences, build trust, develop custom Facebook audiences for retargeting, build your Facebook page audience, and allow you to promote your content to similar audiences on Facebook.
There are two different types of Facebook ads to promote articles and podcast episodes. The first is a traffic ad. The purpose of the traffic ad is to send people straight to the blog post or podcast episode so that they can consume the content on your site.
The second type of ad is an engagement ad. The purpose of these ads is to stimulate likes, comments, and shares about a piece of content. This is like word of mouth advertising on steroids. This will also increase the number of people following your Facebook page.
d. Promote your content to other email lists
This can be one of the most beneficial strategies to reach new audiences. Plus, there are an abundance of targeted email lists that you can promote your content.
Here is how to promote your content via other lists. There are two ways to advertise via email. You can promote a lead magnet to build your email list, or you can promote a paid offer.
There are primarily three types of content to distribute via email. The first type of content builds authority, such as an article, a blog post, or sharing video or podcast content on your site. Inside the content, there may be links to your site. Plus, you can have an author resource box at the end of the article linking to your site or lead magnet. The second type of content is a promotional email. Promotional emails can be content-based, but their purpose is to promote either a lead magnet or an offer. The third type of promotion is to purchase an ad in an email that is already going to the companies list. This can be a banner ad or a text ad that links to your site.
3. Improving content quality and quantity
It’s a common thought process that Google will index blog posts that are as few as 300 words, but according to Hubspot, on average, the top 10 results for most Google searches are between 2,000 and 2,500 words. BuzzSumo did a study on the most shared content in 2018, and articles with more than 10,000 words were the most shared content.
Content doesn’t necessarily need to be longer to be of higher quality, but the longer the content then, the more value you can provide.
So the question is, how do you create higher quality content that provides value but also create content more frequently?
Here are a couple of solutions.
-Create different types of content.
-Vary content length
-Outsource the content creation
4. Improve on Content Marketing Measurement
Improving how you measure the effectiveness of your content depends on the objective and the purpose of the content.
Content can be for different customers during different stages of the customer journey.
Social media posts are measured by reach, engagement such as likes, comments, and shares, plus the number of clicks to the website.
Blog posts and podcast episodes can be for new potential suspects who are just getting to know a brand. People who read the blog post can be retargeted for a lead magnet to get them to signup for the email list. So this can be measured by the number of people who visit the blog post or podcast episode on your site.
A landing page for an email optin breaks down to the number of visitors compared to the number of people who optin for the email for the lead magnet. This usually is presented as a percentage.
Email can engage customers and is measured by the type of email, open rates, click-through rates, number of people who purchase the value of each subscriber, and the value of each email sent.
Long Form Sales Letters, Video Sales Letters, and Webinars– Long form sales letters and VSL are measured by the total number of visitors divided by the number of conversions expressed as a percentage. Other metrics are revenue earned, average revenue per visitor, average revenue per customer, and the monetary value of each customer.
5. Increase the Size of Your Audience
Increasing the size of your audience can include traffic to your website, your following across your social media channels, retargeting pixels, and the size of your email list.
One of the most profitable ways to increase the size of your audience is by increasing the size of your email list. Why should you focus on increasing the size of your list?
Email is the most profitable marketing channel. According to ExactTarget, for small businesses in the United States, every dollar invested in email marketing yields $44.25. Email is phenomenal at building a relationship and trust with your audience. Plus, you can control the distribution, unlike social media.
Also, you can increase the size of your social media channels, visitors to your website with email. Email is one of the most valuable channels available to small businesses today.
6. Know your audience Better
Understanding your audience is one of the most valuable activities. Understanding your audience affects the content you create, the offers, and audiences you target to build your audience. Today with free tools on Facebook and Google, understanding your audience is easier than before. Plus, you can survey your audience and track content that has the most engagement. The more you understand your audience, then the more you can connect with your ideal customers.
7. Segment your audience better
Traditionally there are 5 different ways to segment an audience, demographically, geographically, psychographically, socially, and behavioral. Today, segmenting your audience can be achieved with content such as blog posts, percentage of a video watched, people who opened specific emails, or clicked on certain links with emails. People can also be segmented based on where they are in the customer journey. And finally, one of the most valuable ways to segment your audience is by how valuable customer is to your business. Most businesses calculate the value of a customer by the monetary value or how much money the customer has spent with the company, buying products and services. A more accurate calculation is known as RFM calculation or Recency, Frequency, and Monetary value of each customer. With RFM, the value of each customer is determined by how often they purchase, the frequency, and the monetary value.
These are the seven biggest marketing challenges facing companies today and solutions for each problem. With each marketing strategy that you deploy, the better you are at building and maintaining relationships than the more successful you will be.
Here are a few quotes about the significance of developing relationships.
Content builds relationships. Relationships are built on trust. Trust drives revenue.”Andrew Davis, Author & Keynote Speaker, Monumental Shift
“Marketers need to build digital relationships and reputation before closing a sale.”Chris Brogan, President, Chris Brogan Media
So, remember the best marketing campaigns build long term lasting relationships with customers and move them through the customer journey.
Are you building your email list?
Today, when it comes to building your audience one of the most profitable marketing channels is email.
According to the Direct Marketing Association, email marketing yields a 4,300% return on investment for businesses in the United States.
ExactTarget reports for every $1 spent on email marketing, the average return on investment is $44.25.
One of the most profitable ways to build your audience is to increase the size of your email list.