No startup business survives on sheer luck. Rather, every entrepreneur is guided by advice from entrepreneurial powerhouses or people who have already made it big. Like any aspect of our life, if we want to succeed in something, learning from those who already have gone before us is a great way to get ahead in the game.
You might have a brilliant business idea and the money to get started, but learning the basics of business is important because no successful entrepreneur started from the top. Like Nasty Gal’s former CEO, Sophia Amoruso, the first thing she did when she ventured into the e-commerce industry was to buy a book: Starting an eBay Business for Dummies.
We can learn two things from these entrepreneurs. First, achieving the same level of success is possible. Second, these brands have perhaps experienced the same difficulties you are going through. With these in mind, by knowing the backstory of their companies, we can pick up valuable marketing lessons.
As they say, a business thrives or flops based on how well it markets its products. Here are five marketing lessons we can learn from big brands:
Invest in Content Marketing
Having high-quality content promotes your brand visibility, shares your company’s story, and it even increases conversions and leads. Accordingly, 80 percent of consumers appreciate learning more about a company through its contents. In addition to that, business-to-business (B2B) companies see content as a core part of the marketing strategy.
Big companies, particularly those which are operationally-oriented, find it difficult to reach out to their target audience. Nonetheless, by engaging industrial marketing consultants and making use of digital technology, your company can generate more compelling, consistent, and high-quality content.
Your company should be more than just the products you are selling. By generating content which your current and potential customers can relate to, you provide additional value to them. Update your website or social media pages for news, updates, and tips. It is a guaranteed way to attract more customers and eventually loyal brand advocates.
Never Underestimate Social Proof
Humans are social animals. People tend to follow the actions of others around them to reflect correct behavior in a situation. By applying psychology into your business, you can herd hundreds or even thousands of consumers to buy your product. Social proof works like magic in boosting market reach and in generating leads and conversion to your business.
Though social proofing is seen everywhere in our everyday life, it works best on social media since more than half of the world’s population are on different social media platforms. The majority of millennial consumers base their purchases on product reviews and comments they have read on social media sites.
Build a Community
Another great way to attract more customers to your brand is through community marketing. Establishing a deeper connection with customers is essential for business-to-consumer (B2C) brands to survive the fierce marketing landscape. This can be achieved by building a community around your brand and giving it customer value.
Building a strong community around your brand has several benefits. You can gain valuable insights from your customers on how to improve your products. As they continually engage with your brand, community marketing boosts brand loyalty. Most important of all though is that a strong community generates loyal brand advocates who will sing your brand’s praises even outside of virtual walls.
Improve Customer Care
The impact of customer care should never be underestimated. More than half of consumers base their purchases on how they are treated rather than the product itself. In this age where everyone wanted things to be done fast, most people will abandon their online transaction if their concerns are not addressed quickly.
Offering outstanding customer service generates repeat customers apart from increasing brand awareness. Furthermore, there is no better promotion out there than satisfied customers. Thus, being nice, helpful, and competent in answering queries of your customers goes a long way.
Everybody loves promotions and discounts, right? One of the oldest tricks in the book of marketing to make a sale is to sweeten the pot. It could simply be discount coupons, bonus samples, a free shipping incentive, or hassle-free returns. No matter how small it is, people get excited by the word “free.”
Giving out these “free stuff” makes your customers feel special, thus improving customer relations, boosting brand loyalty, and promoting repeat customers. Not only will you encourage your customers to purchase other non-discounted items on your store, but you will also remove old products from your inventory.
Following these lessons from the big names in the business industry will make your company one of the big brands these days.