COVID-19 pandemic has forced marketers to rethink their existing cut-and-dried marketing playbook. The old ways of growing a business are not ineffective. Digital transformation has sharply increased. As Think With Google notes, CMOs in all industries are adopting technology to meet new challenges in the pandemic recovery period.
High revenue growth companies make use of the below four strategies to bring consistent results.
1. Right Marketing Tech Mix
Customer expectations are higher than ever. They expect their interactions with brands to be engaging and customized. The best way for companies to deliver these seamless personalized customer experiences is by leveraging technologies like CRMs, Marketing Platforms, Big Data and Analytics. These technologies optimize marketing processes by providing customer insights, campaign reports, and streamlining team collaboration. Much of this tech has been around for some time and continues to evolve.
2. Demand Generation
Demand Generation is all about stimulating interest in your product from your target market who don’t know your brand. It promotes high revenue growth by nurturing strong leads, likely to convert into customers. A good Demand Gen strategy should not only build brand awareness but also boost credibility. Its also about creating targeted content that focuses on conversations surrounding customer pain points and solutions.
3. Product Marketing
Right positioning and messaging strategies allow customers to recognize how the product addresses their pain points. This process also ensures internal teams understand the product to communicate the unique value effectively. Product marketing aims to deeply understand the market, and customer purchasing decisions.
4. Customer Marketing
Today's products are complicated and not simple to adopt. Businesses that ensure their product/service work as promised and resolve customer challenges thrive. The job of marketing goes beyond sale. Effective customer marketing leads to higher customer retention and increased Customer Lifetime Value (CLTV) through meaningful cross-sell and upsell promotions.