Every business owner wants to find out what the most profitable marketing strategy is for their company. And why wouldn't they?
Marketing strategies that produce a return on investment enable businesses to expand their customer base and take their company to the next level. The risk is taken away and marketing campaigns can be scaled in line with business goals.
But with so many marketing strategies, marketing tactics, marketing platforms, marketing planning, marketing tools and marketing philosophies, what is the most profitable for your business?
We asked 24 marketing experts what they thought was the most profitable marketing strategy. Interestingly, the most popular answer given was based around content marketing.
It would be interesting to see which marketing strategies you think would be most profitable to your business. Let us know in the comments section at the end of the article.
Here's what the experts said...
Our most profitable marketing strategy has been content marketing combined with influencer marketing. We write content that is infused with influencers (think, for example, an expert round up featuring 30+ marketing experts). We then work with them to promote it. This has led to us publishing several articles that receive hundreds of social shares and sends us thousands of visits, which in turn result in sign ups. It's very cost effective and scalable, and it helps us build relationships in the long term.
David Schneider is the cofounder of NinjaOutreach, an innovative new Blogger Outreach software for marketers.
Website: Ninja Outreach Twitter: @ninjaoutreach
Epic Content Creation. A successful marketing strategy needs to generate a ton of interested, relevant leads for your business. A profitable marketing strategy needs to do so in a cost-effective way. Epic content creation is designed to do both.
That’s it – done! We’ve used this technique to generate 16,222 visits from a single blog post. Better yet, we managed it in a notoriously technical and complex industry - and I’m confident you can do the same!
Ryan is Content Strategist for SaaS inbound marketing agency Iconsive, a prolific sharer of growth resources, lover of behavioural economics and drinker of too much coffee.
Website: http://www.iconsive.com Twitter: @ryanlawba
Unfortunately, there is no single answer (sorry!), otherwise all other marketing disciplines would be made redundant. From my own personal experiences, I have seen inbound marketing produce more attractive input -> output results.
The new age of content, social and influencer marketing is where I see the future heading. When one piece of content can produce endless business value, for as long as it remains online, then the merits are both obvious and attractive.
What I see as the biggest mistake is when business owners "choose" one strategy before undertaking solid research and planning. There are many occasions when a direct response model would be a much more profitable marketing strategy. Never fall in love with one form of marketing without getting to know them first and understanding whether or not they are the perfect fit for you.
Digital Marketing Strategist | Top 40 Twitter Influencer (via Brandwatch) | Marketing Manager | Blogger at StuartJDavidson.com | Author of How to Win in Social Media | Views = Mine.
Website: www.stuartjdavidson.com Twitter: @RealSocialShark
Networking: Building our network has been by far our most profitable marketing strategy. Meeting like-minded people who work in the industry open sup many, many doors for us. From client leads, to referrals, to new consultants to work alongside with, all the signs point to that the bigger and better our network is, the more profitable we find ourselves. And when we do "traditional" marketing, such as blog posts, email newsletters or social media campaigns, it's our current network that helps us reach even more people and continue building those collections. Even if we don't see results straight away, we know that the network effect contributes heavily to a profitable marketing strategy for us.
Director at @Montfortio | Founded @BrightOne & @Twestival | Ex @FutureGov @SundayAssembly | Author of "Freelance in 30 Days"
Website: www.montfort.io Twitter: @benrmatthews
My most profitable marketing strategy is being myself and sharing what that means.
Too many people miss the point of marketing and shout their message and ram their point home… but that’s not memorable.
What I do (and have always done) is share my story and how I create and manage my business. Yes, this does include selfies, daft videos and personal moments but that’s real. That’s what people relate to. People buy people not strategies and pie charts!
Creative, digital loud mouth at Spaghetti Agency. I help businesses get found online with social media & marketing. I share tips & selfies.
Website:www.spaghettiagency.co.uk Twitter: @SocialMediaTodd
I love to start fresh projects with start-ups. Planning a marketing strategy from a blank canvas is where my best results have come thus far. I have found influence marketing and blogger outreach to be my most successful marketing strategy. By tapping into influence audiences you can quickly generate organic traffic and interest and then use other marketing strategies to push the snowball effect.
If your service is new and/or needed then naturally organic awareness will lead to sales and revenue.
Nelson | 9bills is an urban blogger who offers social media management, PR and Wordpress design websites to start-ups and sole traders.
Website: 9bills.co.uk Twitter: @9bills
I worked with a UK based company that had a potential global audience but a limited marketing budget. The company had a good reputation in the industry for designing and manufacturing quality products but wanted to target new markets that were opening up for them across the globe.
Traditional marketing methods would only enable the business to target a small percentage of the total target market and consume their entire budget without achieving the stated aims. We decided to take an inbound marketing approach and pull the audience in through the creation of content in the form of web pages, ebooks, blog posts and video.
All of this activity fed a steady stream of qualified leads into the sales team resulting in a large increase in sales and revenue. None of this would have been possible within the timeframe and with the allocated budget through traditional marketing means.
Andrew Leon Walker is a Devon based digital marketing consultant. He works closely with his clients to improve their online presence, increase lead generation and conversion rates and boost sales.
Website: www.ramemarketing.co.uk Twitter: @ramemarketing
About 70% of our new projects come from clients who found us through organic search, so I can safely say that our effort to build a strong SEO presence on the search engines is our most profitable marketing strategy. Our organic traffic has been growing steadily over the years and so has the number of conversions and new clients."
Iñigo Etxebeste is a tech entrepreneur and digital marketer. He is currently the director at Gloc Media, a London-based SEO consulting and digital marketing agency he founded.
Website: www.glocmedia.com Twitter: @GlocMedia
Content marketing. Profit is a result of our attention to detail within our content. We ensure our audience is never bored; creating fresh, fun and inspiring content that ultimately leads to retention and growth. Setting out for monetary gain is not a strategy we employ, instead, the focus relies with the content, if the content is right, the money will follow
Social Chain is the UK's largest Influencer Marketing agency that boasts a network of over 66 million active users across Social Network platforms such as Twitter, Instagram and Facebook.
Website: www.socialchain.co Twitter: @TheSocialChain
Social media promotion is by far my favourite/most successful type of marketing strategy. In the summer of 2014 I was tasked with generating awareness for a company I was working for, my main objective was to receive a record number of retweets & followers. Using the world cup games as the peak time of active users, I was able to get the business over 1000 retweets as well as get my hashtag to trend in the UK. The moral of this strategy is timing, which is definitely the essence!
Henry is a Digital Marketing expert specialising in lead generation and brand awareness through social media.
Over the past year I have found Facebook Paid Advertising to be one my most profitable marketing strategies, especially for clients that offer a local presence. Due to the fact that you can micro target your audience and the traffic is still relatively cheap in terms of cost effectiveness, if you get the campaign right then you can really make these campaigns deliver huge results for clients. I have now managed many of these campaigns across all types of industries, with the returns often instant and definitely one marketing platform that offers a good return on investment.
In terms of the most profitable longer term, it has to be SEO and content marketing, as if you have the time to write killer content and make sure your website is fully optimised, then you can get long term stable ranking results, for very little spend, but of course SEO takes a long time to really start working in terms of delivering results and is a huge effort, but when you get the rankings that deliver conversions and you maintain your presence, then SEO as a long term strategy is extremely profitable.
Ian runs IS Digital Marketing Ltd, a Bristol based company with clients all over the UK, specialising in SEO, PPC and Social Media Paid Advertising.
Website: http://www.isdigitalmarketing.co.uk Twitter: @IanSpencerSEO
I don’t believe there is any one-size-fits-all marketing strategy. Marketing is constantly changing and it is also important to look into what marketing strategies will best fit your business. However, as someone who works with YouTube and knows a lot of content creators on the site I can honestly say I believe that there is a lot of power behind video marketing.
Video marketing has been around for a while now in the form of television adverts but recently YouTube has joined in becoming a large influence within marketing. Video is an excellent way to connect with an audience and capture their attention. You are able to put across a well thought out message with visuals that compliment and re-inforce the message.
Video marketing also opens up a great way to use influencer and endorsement marketing. Seeing a recognisable face recommend a product or service often makes the viewer relate with the endorsed product/service. YouTube is full of bloggers happy to recommend products and services if it fits their channel. I think that there is so much potential with video marketing and doing it online is a lot cheaper than television.
Ella Caney-Willis | EllaSaysHiya on social networks | Runs a YouTube channel with over 4200 subscribers.
Channel: www.youtube.com/user/EllaSaysHiya Twitter: @EllaSaysHiya
This kind of question is so hard to generalise for as what works well for one client may not work so well for another. Likewise what works for us as a business may not work for our clients. Every client is different. Every industry is different. Every location is different. With this in mind the most profitable strategy for businesses we work with tends to be the one that is designed to cater to that businesses audience.
With that disclaimer of sorts out the way the strategy that we see that generates the best return tends to be some structured lead generation. That is providing something of high value in exchange for the customers contact details. Where the business can produce a piece of content that they use to open doors and introduce themselves to a new prospect this provides the initial seed that a relationship can be grown from. This tends to add value to all other inbound and outbound marketing and as such provides the greatest overall return.
An honourable mention would always have to go to focusing more on your existing customers and trying to educate them with regards to the the other services you can provide. Not enough time is spent on this and it can be a big, easy win.
Marcus has worked in search and digital marketing for pushing 20 years and currently helps SMEs understand digital and run profitable, scalable digital marketing campaigns.
Website: www.bowlerhat.co.uk Twitter: @marcusbowlerhat
Profits really start to be delivered when companies acquire a critical mass of customers who have all been looked after exceptionally well on their first interaction and are therefore confident that they will receive the same level of service with subsequent interactions.
A successful marketing strategy therefore involves:
Today, competitors are just one click away so ensure that those customers who do find you have little reason to consider looking elsewhere.
Lancashire marketing consultant helping online businesses grow. Enjoys wine, umpires hockey, puts off DIY.
Website: http://www.rightdirectionmarketing.co.uk/about-us/roger-england Twitter: @cottampicker
If you’ve got a website setup and you want more leads, it’s easy to think that more traffic will help. And yes, traffic will help providing it’s targeted but you might be missing an important step.
Here’s where to start:
Focus on developing a conversion optimization process to ensure that you make the most out of every single visitor that comes to your website - get every stage in your funnel as optimized as possible.
Without testing for conversions you could drive massive amounts of traffic to your website and not see any ROI.
Once you’ve fixed the leaks in your your sales funnel, it’s time to focus on targeted traffic. But, don't forget to keep testing as you go to keep conversions as high as possible.
Adam Connell is the Marketing Director at UK Linkology, a UK based content marketing agency. Adam’s advice has been featured on the likes of Forbes, CIO.com and HuffPost.
Website: http://www.uklinkology.co.uk Twitter: @adamjayc
Our most profitable marketing strategy is word of mouth and referrals. We have great people working for us and lots of our clients and candidates here about us through friends who had great experiences with us. It's cheap and extremely effective- last year about 40% of our revenue was from word of mouth. We know that is all going to change as we grow but are super happy that our reputation supersedes us.
Winners of "Best Client Service" at the 2014 MARA Awards Sphere Digital Recruitment is a specialist recruitment company, based in Covent Garden, London.
Website: www.spherelondon.co.uk Twitter: @SphereDigRec
My most profitable marketing strategy was a Facebook lead content marketing campaign for a top retailer of an iconic Scottish drink. The client in question had always been wary of social media; dismissing it as a channel that wouldn't generate any return for them. They based this assumption on the fact that traditionally their target market were upmarket connoisseurs and would therefore not be active on social media - certainly not Facebook for one!
The campaign, which ran from October through to the end of January, was extremely successful - transforming a modest budget into an overwhelming volume of sales and revenue. Suffice to say the client was blown away by the results and has now been using Facebook Advertising as an integral part of its marketing strategy ever since!
Adam Holt is a professional digital marketing consultant based in Edinburgh, Scotland. Adam has a wealth of experience behind him spanning close to a decade, with a thorough understanding of how people interact, engage and consume online.
Website: http://www.adamholtdigital.co.uk Twitter: @AdamHoltDigital
I've been seeing great results from audio and video! For my own personal branding I need to be able to show my expertise in a very easy to digest way. Audio podcasts and video walk-throughs are working really well for me right now and are perfect for any knowledge based business.
I've generated new business directly from podcast downloads and as the content never ages, or ages very slowly you can get great mileage from it. Audio makes a real personal connection with people.
Video is also working really well for me which is great as the online video wars are really hotting up. Facebook are gunning for YouTube so directly uploading your video content to both services is a real must. Facebook are tending to give a small amount of preference to videos directly uploaded rather than embedded from another service. I'm recommending that everyone gets video up on their website and social media platforms and make it a part of all future campaigns. Product demo videos are performing really well for B2B and Ecommerce sites.
A great positive about audio and video is that it tends to have a longer shelf life than the usual inbound marketing techniques like infographics and blog posts so you can get better results for less work.
After spending 10 years as a broadcaster I moved to new media and digital marketing 14 years ago and have helped many companies create better performing websites. I now spend my time as an SEO, Product Writing and Social Media trainer all over the UK.
Website: http://www.jtid.co.uk Twitter: @JonTromans
My current strategy is to make it personal. I start with automation, which is great - especially if you are very busy. However, it will only take you so far. My content sharing is automated to Twitter, as it has become more interactive than most other social networks. That helps to start conversations. After that, it's up to me to continue it. I try to establish relationships because, in the end, we all rather buy things from people we know.
Bob Toovey is an experienced blogger and currently writing for his site, Social Media X.
Website: http://social-media-x.co.uk Twitter: @bobtoovey
My most profitable marketing strategy would definitely be effective outreach. Reaching out to influential and powerful leaders within your industry can open up a lot of doors. This isn't marketing your product or service, this is marketing yourself as an authority.
Aligning yourself with an authority automatically boosts your credibility by association. There are also lots of articles and tutorials on outreach so you've got no excuse to get started today!"
Alan is an SEO and digital marketing blogger with 6 years experience. He primarily writes about actionable SEO tips and tutorials.
Website: http://alanmonaghan.com Twitter: @AlanJMonaghan
We've found that in line with the advances of digital technology, people change the way they communicate. With 'word of mouth' being the most widely spread form of advertising, we confidently embrace Social Media as it's digital counterpart. In terms of profitability, firm brand awareness in the online spectrum as a whole has been driving progressive traffic and in turn increasing sales from the get go.
Hiten, Founder at TheMarketingGods.com, is considered a self-started reputable asset, projecting a deep understanding of the current fast-paced Advertising and Marketing industry.
Website: http://www.TheMarketingGods.com Twitter: @TheMarketingGod
In some aspects it's fairly straight forward, yet different for each company. The most profitable strategy needs to factor in:
1. Clarify your Goals and metrics from the start: Being clear about what you want to achieve with SMART goals and how you can get there means you need to clarify the indicators that show/keep you on target. Use HEART metrics. (Also factor in time to revisit these every few months to allow for development and adaption. In an ever connected world the market moves fast so you need to adapt to the markets focus.)
2. Effective communication throughout: Communicate your goals and time-planned strategy to the whole team. Let them understand why something needs to happen. Build them all into the plan of action. Be clear about why as well as the 'what, when and how'. This enables trust and autonomy which will reflect in greater productivity and connected activity.
3. Think integrated, not complicated: One tactic may work well for you, but several will work so much better. They all have their strengths and weaknesses and compliment one another. Email leads to mobile site, leads to social leads to content, leads to SEO and email, leads to phone call, leads to onsite conversion, leads to customer-centric brand comparison, leads to sales, leads to online referral and so on. It's cyclical.
4. Think Mobile in all tactics.
5. Read your metrics as a human, not a statistics machine. The internet is built on code, your customers aren't. Digital uses code (metadata, keywords) to connect between platforms, or tactics, in business terms. Consumers use words that resonate on an emotional level. These are the same thing in digital, it's how you read this data in the context of emotion that ensures your business speaks and engages the right customers.
Kathryn has over 12 years’ working in marketing and 6 years specialising in social and digital marketing. She is a pioneer for holistic marketing, a strategist, fluent digital user, speaker, and entrepreneur.
Website: www.KathrynMcMann.com Twitter: @KathrynMcMann
8 years ago, I discovered inbound marketing which has helped me to learn about how anyone can build online presence through content. I have found blogging profitable compared to paid ads. I am still getting a return on articles I wrote few years ago, so I will continue to focus on blogs, proving that the size of the brain should always be greater than size of the wallet.
Prabhat Shah is a Digital Marketing / eCommerce consultant heading up Online Seller Wales, helping UK SMEs sell online. Prabhat expertise lies in identifying business needs and guide them through unique digital pathway to success.
Website: www.onlinesellerwales.com Twitter: @ONSWales
A marketing strategy is the plan you have at the back of HOW you enter the marketplace. It’s what you are going to do before you actually do it. For us, the most profitable marketing strategy has to do with what is unique and distinctive about a company. Most people call this Unique Selling Proposition (USP), we call it Business Innovation.
For example a well known brand such as Apple has a strategy which is, “To make the very best consumer electronic products in the world to delight their customers.“ Everything else in their business serves that strategy. This is their marketing strategy. To come up with an innovation, you simply have to ask yourself one simple question: “What does my marketplace want or need that nobody is offering them?” Find the answer and then give your marketplace that thing. Remember that your innovation MUST address real and legitimate wants and/or needs of your target market. With constant innovation you avoid competition and you can create unlimited profits.
Ubiquity Marketing Consultants is a marketing consulting firm that specializes in strategic business marketing using our exclusive Power Marketing Program.
Website: www.ubiquitymarketingconsultants.com Twitter: @UbiquityMC
What's your favourite marketing strategy listed above?
What's been the most profitable marketing strategy to your business in the past?
Are there any additional marketing strategies here that you intend on pursuing in your business?
Have you paid for marketing and media services before?
Were you satisfied with what you received?
Social media touches nearly every facet of our personal and business lives therefore it is imperative for social media to be an integral part of a company's overall strategy. Richard Branson once stressed the importance of companies engaging with their customers via social media on his regular BusinessDay column.
Nowadays, customers go straight to social media to either complain or compliment your product or service. So, when purchasing media services or managing your online presence you should know what to expect. Take a look at the infographic below and check out our 8 things to look out for when buying Social media services.
Image Courtesy of Top Rank Blog
Is it enough to have just a website for your business or do you require extra media services?
Are your potential clients on LinkedIn, Facebook and Twitter?
If this is the case, you should leverage these networks in order to create brand awareness and/or generate more sales. Take a look at these 8 things to keep in mind for when you are buying media services.
What do you think are the main challenges when purchasing media services?
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