Creating a successful business takes an immense amount of work and dedication. Even hard work, though, is no guarantee of success. This is likely why 80 percent of businesses fail within their first 18 months. Of course, much of this failure could be attributed to unsuccessful marketing strategies. That’s why it’s so important to keep up with the current state of marketing, and here’s just a few things we learned in 2016.
Technology has revolutionized the way we do marketing, but far too many budding entrepreneurs think that marketing technology will solve all of their problems. This simply isn’t the case. In fact, 40 percent of businesses aren’t even sure that marketing technology carries useful benefits.
In all likelihood, that 40 percent simply hasn’t been utilizing technology correctly. Implementing the latest marketing tech will mean nothing if the overall strategy is flawed. Marketing technology is meant to supplement strong and proven promotional practices – not replace them.
Micro Influencers are Officially a Thing
More business owners are catching on to how useful influencer marketing can be. By utilizing trusted industry sources, it’s possible to get a message out to people on a huge scale. Micro influencers, though, usually have fewer than 100,000 social media followers. This smaller number, though, allows them to be more engaged and better promote a product. This often isn’t possible for influencers with overwhelming social media numbers.
Engaging Marketing > Mass Marketing
In the past, it was believed that saturating the market with promotional messages was the best way to attract new business. In fact, many companies still focus on quantity rather than quality in the hopes of getting their message in front of people. What they need to realize, though, is that one piece of engaging content can outperform 100 bland marketing attempts.
Business owners should focus on making their content engaging rather than inundating their fans’ news feeds with back-to-back posts featuring essentially the same message. Figure out what the target demographic is interested in, and give it to them. Five pieces of new content a day mean nothing if they simply fall flat.
Marketing isn’t a steadfast and unchanging area; it constantly evolves as we learn more about consumer behavior. And while 2016 has been an amazing year for marketing knowledge, what we know now may be outdated by the time 2017 comes to an end.
Please do me a favor by sharing this post with your friends. You can also let me know what you think of my post by leaving me a comment on my Facebook page and about other topics you would like me to cover.