JUN 2, 2020 By : ATHUL RAJEEV, VENTESKRAFT.
In this blog we will go through about Marketing strategies. It’s used by businesses to promote their products and services.It takes a lot of time and effort to develop and maintain a marketing campaign that resonates with your intended audience. As a strategic thinker, however, the development of a marketing campaign takes even more consideration. After all, we’re always searching for ways to gain the oh-so important competitive edge.
There are times, though, when we all hit the proverbial wall. If you find yourself in that situation, then you may want to check out these fifteen marketing strategies that will definitely spark your creative energy.
Let’s have a look at the proper definition.
Marketing strategy is used by different companies to collaborate with their consumers. It is also employed to aware the customers about the features, specifications and benefits of company’s products. It is basically focused on encouraging target population to buy those specific products and services. The marketing strategies might be totally innovative or they can be previously tried or tested strategies.
There are different types of marketing strategies available. Picking up a marketing strategy includes analyzing the needs of your business, your target audience and specifications of your products.
The two main types of marketing strategy are:
- Business to business (B2B) marketing
- Business to consumer (B2C) marketing
The most common form of marketing is business to consumer (B2C) marketing.
Following are the different types of marketing strategies available.
1. Paid advertising
This requires growing marketing strategies. It includes traditional approaches such as TVCs, and ads in print media. The Internet marketing is perhaps one of the most well-known marketing strategies. It involves various forms, such as PPC (Pay per click), and paid ads.
2. Cause marketing
In marketing strategies, finding a causes both your customers and your company cares about can create magic for your business. This requires internal knowledge about what your organisation cares about and who they want to help in the world. A good example of this is Toms Shoes. Instead of doing the traditional “buy one get one free” promotion, Toms built a strong customer following and reputation for giving back by giving away a free pair of shoes to someone in need for every shoe purchase made by their customers.
3. Relationship marketing
In marketing strategies many companies focus on building relationships with their customers instead of always exclusive trying to sell them something (transactional marketing). Customers who love your brand more will also spend more money with your brand. Many traditional retailers have found this to be true. Walgreens has seen that customers who buy from all of their purchasing channels (store, web, mobile, etc) buy up to six times more than the average customer that only buys in their store.
4. Undercover marketing
This type of marketing strategy focuses on marketing the product while customers remain unaware of the marketing strategy. It also known as stealth marketing.
5. Word of mouth
In marketing strategies it totally relies on what impression you leave on people. Traditionally the most important type of marketing strategy. Being heard is important in business world. When you give quality services to customers, it is likely that they’d promote you.Modern marketers have learned how to create authentic word of mouth for their companies and the products they represent.
6. Internet marketing
It also known as cloud marketing. It usually happens over the internet. All the marketing items are shared on the internet and promoted on various platforms via multiple approaches.
7. Transactional marketing
Sales is particularly the most challenging work. Even for the largest retailers, selling is always tough especially when there are high volume targets. However with the new marketing strategies, selling isn’t as difficult as it was. In transactional marketing the retailers encourage customers to buy with shopping coupons, discounts and huge events. It enhances the chances of sales and motivates the target audience to buy the promoted products.
8. Diversity marketing
It caters diverse audience by customizing and integrating different marketing strategies. It covers different aspects like cultural, beliefs, attitudes, views and other specific needs.
Marketing strategies have made it much easier to promote products and services. They also limit the strategy to target audience ensuring the proper advancement of the business.
