There are several factors that together help an entrepreneur achieve success. One of the critical factors is the marketing strategy. For any business to succeed, they must know how to find the target customer. Basically, this is achieved through an effective marketing strategy. Have you heard of unicorn marketing?
Unicorn marketing is basically all about applying the best strategies that drive more engagements for your campaigns. You might also define it as running magical campaigns. Ideally, a unicorn marketer focuses on the marketing campaigns that have shown exceptional performance. In addition, these magical campaigns are rare but end up delivering more than what other marketing campaigns are capable of.
As a marketer, you should invest your efforts in finding the best unicorns that work effectively to deliver the expected results. For the digital marketers, a unicorn marketing strategy will earn exceptional click-through rates, high conversion rates, and earn a high number of social engagements. Ultimately, this strategy will earn the business more sales compared to what other marketing strategies achieve.
An entrepreneur that wants to achieve the best bang for his buck should focus on identifying the marketing unicorn. In this article, we focus on some of the top unicorn marketing strategies. These are what every marketer should focus on implementing to achieve the sales targets.
Concentrate on the Customer’s Unique Needs
Left, right, and center, the customer should define the marketer’s efforts. Business owners should focus on meeting customer needs rather than just increasing the sales. Today’s marketers are much more focused on implementing digital strategies to increase their sales. While doing so, little attention goes to studying what the customer wants. Ideally, the marketers have become so obsessed with digital marketing and focus more on the latest trends without thinking about the unique customer needs. In fact, just ask any marketer what their big marketing plan for the next couple of months is. You will realize they mention digital marketing more times than they will mention customer needs.
A unicorn marketing strategy should focus more on achieving the customers’ needs. Remember that the business was started to fill a certain need in the market. As much as every modern day marketer needs the digital marketing strategies, they should not forget about the customer. Reference your digital marketing strategies to what the customer needs are. More so, you should focus on personalized digital strategy, value the customer feedback, and focus on engaging the customer more.
Don’t confuse this to mean that a digital strategy is less important. In fact, it should be the top marketing agenda for any business. However, to become more effective, the digital strategy should engage the customer directly and also in a unique way. This is what makes a good unicorn marketing strategy.
Think of Data-Driven Marketing Strategies
Today’s digital world makes it possible for marketers to access consumer data. This opens a new world for the marketers as they can improve their customer targeting efforts. Ideally, the marketers can trace customer’s information to be able to come up with strategies that will maximize engagements. The marketers are able to deliver the right message and at the right time. As indicated earlier, unicorn marketing is all about being able to maximize engagements. Basically, a marketer should be able to target the consumer when he or she is ready to spend. To achieve this, it is crucial that marketers collect as much customer data as they can find.
Browsing history, social media posts, past purchases and credit card usage data constitute some of the critical information that marketers should look for. However, note that in most cases customer data cannot be obtained without seeking customer cooperation. Historically, customers are liberal when it comes to sharing their details. However, social media and other techniques such as link tracking make it possible to collect this data. Again, customer’s attitude has changed when it comes to sharing private information. A little cooperation and focusing on customer needs as illustrated above will help in collecting customer data. All that a marketer should assure the clients is privacy and data security (Smartinsights.com).
Artificial Intelligence and modern big data technologies are delivering significant value for companies that have embraced data-driven marketing strategies. Through data-driven marketing, businesses can survive in today’s competitive world.
For example, Amazon uses big data that they gather from customers as they browse. Ideally, the more that Amazon knows about their customer, the more they can be able to predict what the customer will purchase. The Amazon consumer data collection approach is based on collaborative filtering. Therefore, Amazon can persuade the customer based on the data collected. This is a winning unicorn marketing strategy that businesses should implement.
Produce and Audition Lots of Campaigns
Now that you have focused on identifying customer needs and using data to define your marketing efforts, you need to think of marketing campaigns. As a unicorn marketer, you will embrace this data to come up with the ideal campaigns. In addition, it is important to come up with as many campaigns as possible. This is the best approach, so that you can identify the campaign types that best suit your target audience.
While developing unicorn marketing content, think of SEO, the Paid and Organic Search results, and PPC content. In addition, target different platforms but as you do so pay attention to the target consumer preferences. You might want to embrace Machine Learning (ML) algorithms when coming up with suitable content. Through ML Algorithms you can maximize the engagements and ensure high visibility of such content. Remember that engagement rate is the key quality metric of unicorn marketing.
The campaigns can be in the form of blog posts, webinars, Tweets, Facebook posts, or even YouTube videos.
Analyze Your Marketing Strategies and Focus on Unicorns
We have seen that as a marketer you need to develop marketing content that focuses on customer’s interest and based on the consumer data collected. However, this doesn’t guarantee you success yet! You now need to measure how your marketing strategies are performing and identify the unicorns. Ideally, a majority of marketers fail to acknowledge that their content is a donkey and not a unicorn. The best approach to identify your donkey and kill it is measuring the performance of campaigns created above.
Larry Kim talks of unicorns and donkeys (Hubspot). The donkeys are dozens of marketing content that you publish every month but have a low impact on your sales and engagements overall. On the other hand, the unicorns have a higher capability, and they are mostly the top three posts with higher engagement rates.
This brings me to the idea of analyzing the performance of your content marketing posts. The posts that earn you more engagements should be where you should focus your efforts. Therefore, businesses should embrace the tracking algorithms when posting new content. This way, you can be able to maximize on the engagements that the unicorns earn you. Ideally, focus on the unicorns that you already have, and the only way to identify the unicorns is by measuring engagements.
Google & top marketing platforms favor unicorns and punish the donkeys. Every now and then, Google comes up a new algorithm that determines who gets the top position in marketing. Therefore, it becomes necessary for the marketers to come up with content that meets the expectations so as to rank high and earn engagements.
Focus on Unicorn Baby and Kill the Donkeys
Let`s say that you found out that a certain topic earns you more engagements compared to other topics. The best strategy for a unicorn marketer is focusing more on the topic that earns you more engagements. This means that you might have to shun away from publishing content that relates to other topics (donkeys). It is time for marketers to realize that they don’t have to keep pumping more and more bucks developing and publishing what we might call donkeys. Basically, they should instead focus on developing the unicorns.
There are different approaches to apply this rule. For instance, you might want to repost the content that earned you more engagements. However, you have to do this strategically to avoid boring the target audience. For instance, you might reformat the content and post it again.
Alternatively, you might also want to repurpose the topic once again. Therefore, create a clone of the original campaign and post again. Another approach is diving deeper into the topic. In fact, this helps by earning you more authority on the topic. Therefore, your target audience will trust you as an authority in the topic increasing their chances of becoming loyal customers. However, if you intend to dig deeper, you have to ensure you mention this to create speculation. Again, this increases the consumer appetite as they know that more content on the topic will come in future.
Basically, the bottom line is that it is important for businesses to ensure they commit more to unicorn marketing. Ideally, the whole objective is to avoid wasting time and resources on the content that doesn’t have high engagements. This also ensures that your target audience will always be engaged increasing their chances of coming back to purchase.
Boost Your Unicorn with Social Media, Targeted Ads, and PPC Advertising
Another top practice in Unicorn marketing is promoting the top content on leading social media platforms, creating targeted advertisements campaigns and investing in PPC advertising. Ideally, this is a practice that can assure the marketer’s huge success as you are promoting content that you already know interests your target audience.
More to this is that you already took time to analyze the needs of the client. Again, you have gathered and analyzed enough data to come up with relevant content. In addition, you have also analyzed the performance of the content and identified the unicorns. Therefore, you are promoting killer content! This guarantees you a high return rate because ideally, all you are doing is making sure you reach more people.
Social media platforms have gained a record high number of signups in 2018. Every month, the number of daily active users increases. However, you don’t post on social media blindly. There are several factors that you would like to consider when choosing the platforms where you share the content. For instance, you might find that from the consumer data you collected, more of your target consumers are on Snapchat compared to Instagram.
Targeted Ads are still a very good approach to marketing. Over the recent years, we have heard debates that tend to conclude that Ads are gaining fewer engagements. However, note that it all boils down do strategy used. If you generate relevant content that is based on data-driven marketing, then you have higher chances of coming up with qualified ads. The same applies to PPC advertising. Basically, in unicorn marketing, you are advised that the content that earns more engagements is more suitable. Therefore, boosting such content through PPC campaigns will earn you more engagements.
Unicorn marketing is a form of marketing that advocates for maximizing your marketing efforts by concentrating on the strategies that earn you more engagements. For marketers, the greatest dilemma has always been being able to agree that the marketing strategy in place is a donkey and not a unicorn.
Therefore, marketers waste a lot of time and monies in strategies that don’t seem to work. For instance, you are likely to hear a marketer advising the company to invest more in sending marketing e-mails to more 10.000 customers. The marketer fails to learn that already the first batch of 10.000 e-mails sent didn’t pay. So how will additional e-mails pay? Ideally, such a marketer should instead focus on identifying the unicorn marketing strategy that works for the business.
To do so, there is the need for the marketer to come up with data-driven strategies that focus more on customer satisfaction. Then, he can invest in different marketing campaigns that aim at reaching the targeted consumers. Through measuring the engagements earned, he can identify the unicorn babies and ultimately kill the donkeys. Paying more focus on the unicorn babies will involve boosting through social media, PPC ads, and targeted advertisements. These are some of the basics you should learn when it comes to unicorn marketing.