Effective marketing involves knowing where to invest and consequently getting the desired results. Allocating your entire budget into an area like customer acquisition wouldn’t be productive as 65% of a typical company’s business comes from existing customers.

This, combined with the knowledge that it costs five times more to get a new customer onboard means that an ideal scenario would be to invest more in strengthening your connection with existing customers. A mere 5% growth in customer retention could exponentially increase the profits from anywhere between 25–95%.

But Where Do You Begin?

Once the budget has been allocated, start focusing on identifying customers who’d be the most beneficial targets. You could do this by keeping an eye on their purchasing history with your brand or their brand referencing. Follow this with more targeted marketing, which would help your business multiply its sales figures.

Take Your Marketing Strategy to the Next Level

In order to up your marketing game, you also need to increase your social media presence to create increased brand awareness. Start posting blogs and adding social media posts to the mix. According to a study, posting sixteen blogs a month has the potential to generate 3.5 times more traffic than usual. These would have minimal costs but great returns since most of these sites have free marketing tools to increase your organic reach.

Keep Yourself Updated!

Additionally, it’s very crucial to keep yourself up to date with the current marketing trends. An unconventional approach coupled with convenience is what modern consumers are looking for. 74% of customers tend to change brands if their convenience is compromised. Incorporating this knowledge into your marketing plans will help you go a long way!

Subscribing to blogs and journals that relate to your product will keep you on top of everything and help you come up with new ideas for marketing your business!

Mix It Up

While having an online presence is important, it’s equally important to network face-to-face with your consumers. An ideal opportunity to do that is at tradeshows since the cost of doing that is $142 as opposed to $259 that you may incur during an office visit.

However, in order to do that effectively, you’ll need to prepare well in advance. Know your audience! Come up with targeted, yet cost-effective promotional products that can bring you under the radar. For that, you can get in touch with us and get great options for business promotional products in Australia within your budget!