If there is anything that a business organisation should pay more attention to, then marketing should be at the forefront. It displays the brand's image to the teaming populace and gives them a chance to decide why they should engage their services. Before any business can succeed in the competitive market, it must take note of its marketing strategy and the challenges it faces on a daily basis. The market conditions are dynamic and require constant review of the marketing strategy to stay relevant.
The importance of overcoming these marketing challenges in a modern business cannot be overemphasised since it assists the marketer to place these goods and services where the buyers can easily assess them. There are several challenges which marketers of the 21st-century face and this article was written to explain these challenges and also to determine how inbound marketing can serve as a solution.
Data gathered from the State of Inbound Report shows that the most common marketing challenges include;
1. Ability to generate leads
The 21st-century marketing is all about generating leads and turning them into loyal customers. Generating enough market leads has been one of the most difficult challenges of marketers today. A careful look into the 2017 state of the Inbound report shows that most of the marketers are struggling to create enough awareness for their product. They are on the lookout for the most effective means of pitching this content where the customers can see them, get to know what they stand for and ultimately engage their services. The 21st-century market is so large that focusing on the best marketing strategy can be a thing of a challenge. Most of the marketers find it hard to study the behaviour of their proposed clients and thus, miss out on the best advertising platforms for them. One of the best places marketers have identified in generating traffic is through the use of Search Engine Optimization (SEO) practices.
2. Provision of ROI of Your Marketing Activities
Every marketing strategy is aimed at attracting the right customers to gain profits. Measuring the Return On Investment (ROI) of marketing activities has always been a significant challenge in every business year. Effective utilisation of the ROI goes a long way in determining the effectiveness of all the marketing campaign, the price of the content and how best to utilise them in the creation of the best products. Once marketers can study the market's ROI, then it gives them a chance to know all the parts of the marketing strategy that is effective in attracting the right forms of sales and customer behaviour.
3. Access to Enough Fund
Capital is needed for the implementation of all marketing strategies. While this may not be a significant challenge for the big companies who control the market, this is a challenge for the start-up companies who have to lurk horns with the market giants for the same customers. For an effective marketing strategy, it is advisable for the marketers to focus the strengths of all their marketing strategies into the creation of a marketing strategy based on the resources available.
4. Managing Your online portfolio
This is the 21st century where almost half of the world’s population is active on the internet. These individuals are active on social sites such as Facebook, Twitter, Instagram, and LinkedIn. To be an effective marketer, you must be able to effectively manage an online portfolio where clients can easily access what you have for them and also contact you in case they need your services. It has been observed that most of these marketers lack an online portfolio and thus may find it hard to market their products to the right customers effectively.
5. Identifying the Right Technologies for their needs
The market is currently inundated with several marketing tools which may end up confusing the marketer on the best one to utilise. In some of the cases, these individuals are faced with an inability to understand the behaviour of their target audience and finding ways of connecting with them there. For effectiveness, marketers should take a calculated survey of their market to determine the behaviour of their prospective clients and find ways to relate with them well.
6. The role of inbound marketing in solving all marketing challenges
Inbound marketing focuses on attracting customers to products and services through the utilisation of content marketing, search engine optimisation, social media marketing, and branding. The effective usage of inbound marketing will serve to create an avenue where goods and services are advertised through powerful tools. It assists in the creation of leads, conducting a market survey of prices and customer behaviours.
Contact us if you have any questions on the challenges faced by marketers in the modern world or Inbound Marketing. We will love to hear from you.