How a marketing strategy can accelerate business growth in the new financial year

Brand Awareness

Implementing an effective marketing strategy will ultimately improve consumers’ awareness of your brand, resulting in deeper insight and understanding of what your business has to offer to the consumer. Consumers are looking for brands that provide meaningful value and fulfil a need or issue they face.

A successful marketing campaign that provides an informative perspective to the consumer will aid awareness of your brand and, as a result, accelerate business growth. With a greater understanding and awareness of the brand, consumers are more inclined to gravitate towards your business – as they know about what you offer and why they should choose your brand. All of which will be portrayed through the marketing strategy and overarching campaign message.

Brand Recall to Top-of-Mind Awareness

It is no secret that exposure through increased frequency of media vehicles will result in greater brand recall and thus, contribute to business growth. Top-of-mind awareness (TOMA) can be established by providing the consumer with multiple exposures to a particular ad campaign, achieving the transition from brand recognition to brand recall and TOMA.

The three-exposure model is an excellent jumping-off point in relation to establishing brand recall with the targeted market at hand. The three-exposure model refers to the idea that on the first exposure to an advertisement, the consumer questions ‘what is it?’. On the second exposure, they are prompted to question ‘what of it?’. Finally, they understand, recognise, and recall the advertisement’s message on the third exposure.

Furthermore, the marketing strategy can enhance brand recall through associations and progress toward TOMA. Brand recall and an intention to purchase from the brand occur as a direct result of an effective marketing strategy and aids acceleration in business growth due to an increase in revenue and the gathering of a broader consumer base.

Corporate Social Responsibility (CSR)

Incorporating CSR initiatives and considerations are important aspects to consider within a contemporary society. With consumer demands constantly changing, there is an increasing demand for ethical and socially responsible brands and business conduct.

Considering CSR and incorporating these initiatives into marketing strategies for the new financial year solidifies a business’ brand image and positioning. CSR initiatives assist the consumer in understanding your brand story and the environmentally and socially sustainable practices your business has in place. Including CSR considerations in a marketing strategy creates a sense of leadership in-industry and delivers the message to consumers that there is care and consideration for the environment and the people around you. From a business perspective, demonstrating good corporate social responsibility can significantly help your business’ growth.

Effective marketing strategy implementation can ultimately contribute to how a business can grow in multiple ways. Creating and improving a sense of brand awareness will assist in driving business growth through the selected marketing strategy. Enhancing brand recall and demonstrating corporate social responsibility initiatives will also contribute to accelerating business growth.

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