Just launched your new business or startup in 2024? If so, you’ve gotta know that marketing means everything when it comes to sales conversions. The truth is that if no one knows about your product (or cares about it), chances are you won’t be making that next sale.What’s the solution? Knowing your marketing angles–and exploiting them to your benefit.In this article, we'll briefly explore the basics of marketing your new business in 2024, explain how you should be thinking about your marketing angles, and provide you with plenty of methods to find success (including artificial intelligence and leveraging social media).So, whether you're a startup wizard, a nonprofit guru, or launching a brick-and-mortar business that’s looking to get off the ground, keep reading to make 2024 the year your business really takes off. Let’s begin!What We’ll Cover
Understanding the Importance of Marketing in Sales ConversionMarketing is like the magnet that draws potential customers into the world of your product or service. It's the invisible hand guiding consumer behavior, shaping perceptions, and, ultimately, driving sales. Let's keep it simple – think about the last time you bought something just because an ad caught your eye or a social media influencer raved about it. Or, maybe it was a bit more “nefarious” like an ad on Facebook advertising an item you were looking for on eBay. For better or worse, that's marketing in action. And your objective is to get butts in the seats, people buying/renting your ebook, or increasing the traffic to your specialty hobby shop. How do you do it? Make a compelling message and provide value.That’s the secret. It sounds like “marketing speak”, but it’s true. And the way to deliver it in 2024 is by embracing the tech you need to help your business compete in today’s economic landscape. Before we cover that, you need to get caught up on the who, what, when, where, and why of marketing. And for that, you need to adjust your mindset to some realities of this election year.Develop a Marketing Mindset for 20242023 was a tough year for business and 2024 shows no signs of being less challenging. What makes this year so unique is that many of the tried-and-true marketing approaches simply don’t work. For instance, most Millennials and Zoomers can’t stand direct phone calls–and most Boomers have gotten wise to putting themselves on the National Do Not Call Registry. The same goes for unsolicited email campaigns, which tend to reach the Spam folder before they’re even read. To find new marketing angles in 2024, you’ll have to keep in mind two important concepts: target markets and antifragility.Target MarketA target market is basically the group of people you're aiming your products or ads at, based on what they like, where they live, or other things they have in common. As we head into 2024, nailing down your target market is VERY important. Trends shift around the clock and around the world. Focusing your marketing efforts on those most likely to buy from you saves time and money spent “spraying and praying”. Plus, it helps make sure your customers are really into what you're selling, because you've tailored everything just for them. Getting this right is a big deal for any business looking to stay on top in 2024.AntifragilityMost businesses fail within their first five years. Ultimately, your goal as a new business owner is to be “antifragile”. According to the book “Antifragile: Things That Gain from Disorder”, successful business marketing strategies are those that not only withstand, but also grow stronger in the face of unpredictability and challenges. What It All MeansIt’s these characteristics that make companies like Amazon and Uber exponentiate their profits during the COVID-19 pandemic and now have shown the way–for better or worse–about how you advertise your business and create new streams of revenue.Essentially, you’ll need to be adaptable and always on the lookout for new angles to generate revenue, capture interest, and build your brand. Okay, enough theory. Now that we’ve got you up to speed on how to market your business in 2024, let’s spark your creativity with some great marketing tools and make some real money.
Scaling Your Marketing with Artificial Intelligence (AI)
Artificial Intelligence (AI) has been around for some time, but it looks like 2024 is the year of widespread adoption. Recommendation: ChatGPT is a great option to play around with for free, or choose a monthly membership for $20/month (as of this writing). Whether you think it’s Skynet or overhyped machine-learning algorithms, AI is not going anywhere. And contrary to most sci-fi writers' outlooks, AI is nowhere near an imperfect system. It certainly has its cons, which you should be aware of to avoid the all-too-common mistakes you’ve probably witnessed.Let’s look at the good, the bad, and how you can use AI.Benefits of AIThe benefits of AI are expanding daily. To give you the scope of AI’s impact, here are the many benefits businesses are leveraging to gain a competitive advantage:
- Enhanced Customer Insights: AI analyzes data to understand customer behavior and preferences, leading to more targeted marketing.
- Improved Personalization: AI enables highly personalized marketing content, increasing engagement and conversion rates.
- Efficient Data Analysis: AI quickly processes large volumes of data, providing valuable insights for strategic decisions.
- Automation of Routine Tasks: AI automates repetitive marketing tasks, allowing teams to focus on creative and strategic work.
- Better ROI Measurement: AI tools track and measure the effectiveness of marketing campaigns, improving ROI.
- Real-Time Decision Making: AI provides real-time data analysis, allowing businesses to adapt marketing strategies quickly.
- Predictive Analytics: AI predicts future trends and customer needs, enabling proactive marketing strategies.
- Enhanced SEO and Content Strategies: AI optimizes content for search engines and suggests effective content strategies.
- Chatbots and Customer Service: AI-powered chatbots provide instant customer support, improving customer experience.
- Competitive Intelligence: AI monitors competitors' strategies, providing insights for competitive advantage.
Tasks to Automate
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Marketing Tasks
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Examples
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Social Media Management
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- Scheduling Instagram posts
- Analyzing Twitter engagement
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Email Campaigns
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- Monthly newsletters
- Promotional emails
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Customer Segmentation
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- Demographic-based email lists
- Behavioral targeting in ads
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Lead Generation
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- Online webinars signup
- Ebook downloads
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Content Creation
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- Blogging about industry trends
- Creating how-to videos
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SEO Optimization
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- Keyword research and implementation
- On-page SEO for better ranking
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Pay-Per-Click Campaigns
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- Google Ads
- Facebook ad campaigns
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Customer Feedback Collection
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- Online surveys
- Feedback forms on website
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Influencer Outreach
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- Collaborating with YouTube creators
- Sponsored Instagram posts
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Website Analytics
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- Google Analytics monitoring
- Heat map analysis
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Chatbot Interactions
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- AI chatbot for customer queries
- Chatbot for product recommendations
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Market Research
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- Industry trend analysis
- Competitor product reviews
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Brand Monitoring
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- Social media mention tracking
- Online reputation management
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Loyalty Program Management
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- Points-based rewards system
- Exclusive offers for returning customers
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Event Promotion
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- Social media buzz for a webinar
- Email invites for a local workshop
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What to Keep in Mind
AI isn’t a replacement for authentic content. In fact, it often gives an “uncanny valley” effect that actually wards off a genuine connection with an audience. You’ll notice that generated content has limits, especially with taboo subjects that are algorithmically blocked from unbiased answers. Just to show you its limits, watch this…
To really hammer home this point, the next section, “Getting Organized with CRMs” is written completely with ChatGPT.
Getting Organized with CRMsCustomer Relationship Management (CRM) systems are powerful tools for marketing your business. They help you keep track of all your interactions with customers and potential clients, from emails and phone calls to purchases and feedback. With a CRM, you can analyze this information to understand your customers better, tailor your marketing efforts to their needs, and create more targeted campaigns. This can lead to higher customer satisfaction, increased loyalty, and more sales. By leveraging the data collected in a CRM, businesses can streamline their marketing strategies, making them more efficient and effective at reaching their target audience.Based on the information gathered, here's a summary of some of the most popular CRM systems for marketing your business, along with their websites:
- Zoho CRM Plus - Ideal for small businesses looking for an all-in-one CRM solution. It offers a wide range of features, including sales signals and AI-powered assistance, tailored for seamless collaboration and effective sales management. Visit Zoho CRM Plus.
- Salesforce Sales Cloud - Known for its high level of customizability, Salesforce Sales Cloud is suitable for businesses seeking a CRM that can be tailored to their specific processes and workflows. For more information, check out Salesforce Sales Cloud.
- HubSpot - HubSpot stands out for its ability to scale with a business. It offers a comprehensive set of tools for managing customer relationships, with strong integration capabilities. Learn more at HubSpot.
- Pipedrive - Pipedrive is celebrated for its user-friendly interface and powerful visual sales pipeline, which makes it easy to manage and prioritize deals. Details can be found on Pipedrive.
- Ontraport - This CRM is geared towards automating online transactions and is particularly beneficial for businesses that focus heavily on online sales. Visit Ontraport for more.
- Nimble - Nimble is a great tool for customer prospecting, offering features that help businesses identify and engage potential leads effectively. More information is available at Nimble.
- Nutshell - This CRM is designed for managing a sales team, providing tools that help track performance and streamline sales processes. Check out Nutshell.
- Apptivo - Suited for business management, Apptivo offers a comprehensive suite of tools that cover various aspects of business operations beyond just CRM. Visit Apptivo.
- Close - Ideal for inside sales teams, Close focuses on streamlining communication and sales processes to increase efficiency. More details can be found at Close.
- NetHunt CRM - Tailored for Gmail power users, NetHunt CRM integrates deeply with Gmail, making it an excellent choice for businesses that use Google Workspace extensively. Learn more at NetHunt CRM.
Each of these CRM systems offers unique features and benefits, tailored to different business needs and scales. It's advisable to explore their websites and potentially take advantage of any free trials or demos they offer to find the perfect fit for your business needs.
Digital Marketing Strategies on Social Media PlatformsModern social platforms are still a fresh and new frontier for businesses, and they're as exciting as they are challenging. Considering that 5 billion people use social media in one form or another, it’s absolutely essential that you learn which target markets use which platform and create marketing content that appeals to them. Easier said than done, of course, but take a look at the following demographics organized by platform:
Social Media Platforms for Business Marketing in 2024
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Platform
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User Demographics
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Daily/Monthly Traffic
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Marketing Relevance
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Facebook
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Wide age range, popular with 25-45 age group
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Approx. 1.9 billion daily users
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Excellent for targeted ads, community building
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Instagram
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Mostly Millennials and Gen Z
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Over 500 million daily users
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Great for visual content and influencer marketing
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Twitter
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Wide age range, especially popular with Millennials
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Approx. 200 million daily users
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Effective for real-time engagement and brand awareness
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TikTok
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Primarily Gen Z
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Over 1 billion monthly users
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Top platform for short-form video content and viral trends
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LinkedIn
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Professionals across various industries
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Over 310 million monthly active users
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Ideal for B2B marketing and professional networking
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YouTube
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All age groups, with a focus on 18-34 age group
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Over 2 billion monthly logged-in users
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Essential for long-form video content and tutorials
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Ways to Market on Social Media (by Platform)Okay, you’ve figured out which platforms are best for your business. Now, what are the best ways to market on social media platforms? The following are just a few examples (with how-to links) that you can modify for your own target markets and marketing angles for new revenue streams in 2024:Facebook
Instagram
X (formerly Twitter)
TikTok
LinkedIn
YouTube
ConclusionHere’s all you need to know: Effective marketing is about connecting with the right people in the right way. By leveraging the tools and knowledge in this guide to market your business, you’ll have a competitive advantage and make new opportunities for cashflow in 2024. Of course, this comprehensive guide is just a starter–for every topic we’ve covered, do yourself a favor: Check out our other blogs for unbiased financial advice you won’t find elsewhere.