The impact of Online Marketing strategy on conversion and revenue growth

Emmanuel Chisom

December 30, 2021 8:15 AM

When it comes to business growth strategy, several models exist.

The impact of Online Marketing strategy on conversion and revenue growth

We generally oppose external growth by merging with other companies via merger or absorption mechanisms, and internal or organic growth, based on the company's resources.

If you want to prioritize an organic growth model for your business, regardless of its initial size or industry, then the importance of having a marketing strategy makes sense.

Internal growth is, in fact, based on increased turnover and, therefore, sales, or the need for diversification of activity, for which marketing defines a strategy and an associated action plan. And if, on the contrary, you turn to an external growth model, strategic marketing will support the choice of targets according to the market, the offer, the competition, and the maturity of the recognized players.

Strategic marketing allows you to define your business's development and growth strategy accurately.

Marketing drives growth strategies.

There are many different growth strategies and ways to achieve your goals. How to make the right decision, take up the right challenge, choose the right direction?

Growth by penetration involves selling more existing products or services in its current market. This is the simplest option and the most limited in strategic vision and innovation.
Growth through development consists of launching new products or services in its current market. This is a slightly riskier solution, which may require investment and time, but may allow them to acquire a new positioning, stand out, and innovate.
Growth by expansion consists of selling current products or services in new markets. It is riskier because the target is less known and may require communication or device adaptations, but also more profitable because there is no investment in product development.
Growth through diversification consists of selling new products or services in new markets. It is the riskiest solution but also the most complete. It involves analysis and strategic positioning that affects both the product and the market and a study of the price, the distribution model, etc.

The main goal of marketing is to understand the markets and their consumers to offer them attractive products and services.

Marketing plays the role of champion of the voice of the market; it assesses the potential acceptance of new offers or the implementation of new markets by prospects and customers and measures the impact on revenue.

Emmanuel Chisom