While location is important, whether your store is ideally located or simply in the location that you could get, several other elements impact the success of your business. Key among these is the identification of your unique market segment… these are the people who want what you offer… and then getting them to visit your store.
In the real-world, your market research is intent on defining and profiling your primary customer base.
Once a market has been identified, your marketing team identifies the most effective marketing channels available to reach your audience. This generally includes figuring out venues and events frequented by market members, as well as traditional media sources (publications, radio, and TV) available to within the market. Then you would position your company within these media elements, announcing your presence in the market and ensuring your products were visible within these channels. Liquid Digital can help you do the same thing online using preferred digital tools, and we can do so in ways that are measurable.
Successful marketing must first define your process, and then measure the success of your effort. At Liquid Digital we are guided by our understanding of the importance of these steps. We will support your profiling effort, and then structure your outreach to connect with your targeted customers for both your offline and online programs. As a result of these business steps, we help our customers find, engage and inspire their audience.
Some of the questions we help you answer for your online business include:
• How do our customers define product value?
• What is the market population that you are considering addressing?
• What is the geographic area (zip code, state, country) of interest?
• In what languages do we want to engage our clients?
• What market segments (socioeconomic, cultural, age, etc.) match your product or service line?
• What interest groups, segments, or niche does your product or service attract?
• What time of day would be most effective to reach these groups?
• In which digital environments and on which devices would this segment respond?
• What marketing campaigns (product release, short-term promotions, and long-term strategies) should we develop?
• How will we measure marketing channel success (views and responses)?
• How will we link marketing to sales?
Liquid Digital supports your evaluation of marketing data in a meaningful way that will help you to understand your communications with your customers and the Return on Marketing Investment (ROMI). Additionally, through the use of your data, LDS will help to improve your marketing process so that your business succeeds in the digital arena.