There are two different types of marketing for every business that yield very different results. One produces sales, while the other generates a buzz for your company. Which one should you implement and why?
The thrill of launching a brand new campaign is a proud feeling of accomplishment for all business owners and marketers alike. Your big idea has been launched into the interwebs of success! Everyone gives each other a high-five, grabs a drink, and kicks back to wait for the results to roll in.
There’s one big problem, though. The business owner and marketer typically have very different ideas of what success really looks like. There have been countless conversations that typically start with, “Yeah, we got a lot of impressions, but where are the sales?” Then the war between marketing and sales/operations ensues. Madness, we say! Madness!
If this sounds like you, my friend, read on.
First and foremost, let’s set some expectations. If you’re a new business, or a secret, hidden gem, you will inevitably start with brand awareness marketing. Nobody knows you, they don’t trust you, and don’t understand what makes you so special yet. (Yes, sometimes we all need a good, humbling kick in the pants!)
Expecting someone to hand over their hard-earned dollars is asking for a lot of trust that you haven’t earned yet. At this stage in your business, it’s important to invest in branding and content marketing to build a solid foundation for your marketing efforts. Once you’ve attracted the right people, using the right messaging, with the right creative, on the right channels, you’ll start to build a solid base of people who are paying attention to you. These people have shown interest in your business, and are now “warmer” sells. Keep getting in front of them through branded advertisements both online and offline, and you’ll have a higher chance of converting them into customers.
Brand awareness marketing is when the goal of your marketing is to get your name out there as much as possible to establish recognizability, credibility, and trust. The goal is to get people to feel good about your company and keep you top of mind when they need your product or service. The metrics you’ll use to measure your campaign performance will be: impressions, reach, website visits, social media growth, and email subscribers.
Sales marketing is when a specific marketing campaign’s goal is to achieve sales. It’s important to understand that sales marketing should only take place when a business has achieved significant awareness, or if you’re remarketing to your existing audience base. They already know who you are, what you’re about, and have expressed interest in your product or service. Your sales marketing will have call-to-actions like ‘Buy Now!’ or “Call Today” - they’re very clear in what you want the intended recipient to do.
One word from the wise: expect that the cost per acquisition will be higher for sales marketing. As the old saying goes, “It’s cheaper to upsell existing customers than to obtain new ones.”
Before launching any advertising campaign, it’s critical to have your goals mapped out so you have some base metrics to measure success against. These goals should be S.M.A.R.T, specific, measurable, achievable, relevant and timely. This means that instead of saying “We want to increase our following on Facebook,” you say, “We will increase our following from 300 to 1,000 within 6 months.” It’s specific, sets a metric, and given your killer content strategy, and social media budget, it’s achievable. It’s relevant because you’ve determined your business needs to build a targeted audience to generate awareness and build trust and credibility.