What is your first priority as a business owner when you market your product??
- Minimize your expenses?
- Maximize the impact??
I think you want to have both!! Marketing mediums have pros and cons. For example, TV has a big impact but is very costly. Do you know there is one marketing tool that can both minimize your expenses and maximize the impact? It is called agile marketing!!
What is agile marketing? It is “a tactical marketing approach in which teams identify and focus their collective efforts on high value projects, complete those projects cooperatively, measure their impact, and then continuously and incrementally improve the results over time”.
You might not be able to understand the definition of agile marketing so let me give you an example!
Let’s say your company is selling water bottles for athletes. These water bottles are designed to be robust and light-weighted. You have no idea who your specific target audience is and how to sell your products. You decide to identify your target audience using Facebook to see how people react to your ads. By using social media, you are able to see how many people have visited your Facebook page and shared it. Based on the result, you can change the way you advertise your product. This process is called agile marketing. You conduct numerous small experiments in an interactive way with your potential customers. In doing so, you can respond to change and trends quickly.
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