Innovative Marketing Matters: Here’s Why
Marketing has changed significantly within the past decade. While traditional marketing continues to stand strong, the rise of social media has created new ways to reach customers and increase sales. Changing trends in marketing can benefit small businesses the most and even the playing field against bigger, well-known brands.
Innovative marketing is a way to get involved in these newer trends, but what is it and how important can it be?
What Is Innovative Marketing?
Innovative marketing involves creating new concepts and ideas to reach new customers or clients. These ideas are based on the customers’ needs and wants. Research is done to find out exactly what those needs and wants are. The content made is then tailored to those customers.
The information gained from this research can be used to create different forms of content like videos, written ads, and billboards. There are other ways that innovative marketing can be used.
1. Expansion on Social Media
This is one of the biggest reasons why this type of marketing is useful. Instagram, TikTok, Instagram, Twitter, and Facebook are the main social media platforms, and most of your customers will use at least one of them. The question is: which of these should you spend time and resources on? By looking at the demographics of your customer base, you can figure out which social media they are the most likely to use.
This can be done with something as simple as a survey. Older people tend to use Facebook more often, while younger people tend to use Twitter, Instagram, and TikTok. Once you find out which source of social media your specific customers use, content can be published to capture their interest and bring them to your specific website. The research done to find this information can be used in another way as well.
You can use it to expand your customer base to include new customers that share similar interests in what your business provides.
2. Become a Source of Education
Creating videos is a terrific way to reach customers online. There are millions of videos on YouTube and TikTok alone. Influencers can have a reach with a significant amount of people, but videos can be more than a source of entertainment.
Videos can be created to inform customers about specific questions they may have about your business or industry. People are generally curious and can view your business as a trusted source of information, which can help build up a relationship with your customers and keep them as a client base.
Videos can present information that is normally uninteresting into something engaging. Once you have the attention of your customers, it’s typically easier to promote what your business can do for them.
3. Shifting Your Brand Identity
As time passes, your business may have had significant changes or you may not be satisfied with how your brand is currently viewed. Innovative marketing is a tool that can be used to create a new identity, and it can improve how potential customers view your business.
Maybe your current customer base has fallen off and you aren’t sure what is missing. Like with anything else, your customers’ needs and wants can change just as much as your businesses’ needs can shift. Rebranding can help reach back out to them and improve your business relationship. With careful research, you can really find the heart of what they value and accommodate your business to capture their attention.
Rebranding does not have to be a costly process. It can start with changing logos or even your listed business values.
4. Create Customer Value
Rewards for being a loyal customer are another incentive that can be enhanced by innovative marketing. This can vary depending on what services your businesses provide. For example, a restaurant could offer a free dessert after a customer dines with them a set number of times. Some businesses have a weekly newsletter that has packages or deals for customers that subscribe. Deciding on your incentive would come down to what your customers would appreciate as a reward.
Other ideas include creating a reward program that benefits customers by promoting items on sale or by giving a percentage off when a customer is subscribed to the program. You can also offer special deals just for those who follow you on your social media channels or like, comment on, or share your posts. By rewarding your customers with incentives, you build up a relationship and loyalty with your customers that can keep them coming back.
5. Adjust Pricing for Your Services
Pricing is a huge factor for both businesses and customers. The global pandemic has sent shockwaves throughout the supply and demand chains that are still being felt. Prices have had to increase for almost every business. And not all customers have been able to afford this increase.
This leads to a decrease in sales for certain products and services. One solution is to find a way to decrease the price of a product that your customers appreciate without taking a huge business loss yourself. This could be done through a limited-time offer or even through subscribing to a program. When your product is more affordable, customers will be more willing to spend money on it and drive sales up. This can also serve to draw in new customers that normally would not be able to buy a certain service or good.
Ready to Dive Into Innovative Marketing?
InnoVision Marketing Group has a rich background in helping a variety of companies succeed with fresh marketing strategies. We are a full-service marketing agency that has staff trained in the latest marketing techniques. Speak with one of our experts to learn more.
