It can be difficult to gain market share when customers are cutting back on their spending, but it is still possible to have those gains. When you see marketing from other companies you see advertisements, and company endorsements among other things. These strategies work, but in order to know where to begin you have to first understand your customers. Without a basic knowledge of your audience you won’t be able to tailor their experience based on what they need to see or hear to purchase something.
- Strategic marketing is a way to increase market share at a time when customers are cutting back on spending.
- Due to vastly different media habits, the various generations cannot be reached through the same channels.
- Facebook and Instagram allow you to see campaign results in real time, so you can adapt as needed.
“If your business is looking to attract a younger demographic, it’s important to understand their motivations and needs, and then find ways to respond to them. For instance, we know that Millennials like to research before they buy”