There are lots of marketing strategies that can take your business to new heights or else they can also bring you down, if they are not implemented properly.
In this content, we will discuss what kind of marketing strategies are good for your business, and what are not?
We have list of 17 marketing strategies with examples and tips and we will also provide you with tips on writing a marketing strategy of your own.
But before we move any forward, we should learn some basics first.
What is marketing strategy and how it is used?
Marketing strategy is a extensive plan that is specifically design to achieve specific marketing objectives and goals. It involves analyzing marketing conditions, identifying the target audiences and understanding the behavior of your customers.
It also includes outlining the steps needed for promoting your products, services and your brands effectively. It is a well-developed marketing strategy that serves as a road map.
It will guide your business in reaching their goals & gaining a competitive edge in the market.
What are the key components of your marketing strategy?
A extensive marketing strategy includes several key components that can outline how a company will promote, advertise and selling its products or services.
You can take a list of key components here:-
- Market Research and Analysis
For implementing all your marketing strategies, you have to understand the target market along with the needs of your customers. You have to also take their preferences, behaviors and market trends into account.
Market Research and Analysis also involves conducting research, gathering data and analyzing it to identify opportunities and challenges.
- Target Audience Identification
You have to define and segment the target audience that are based on demographics, psychographics along with all other relevant criteria. It helps tailoring all your marketing efforts to specific groups.
- Unique Selling Proposition or USP
You can highlight what sets your product or service apart from your competitors. It could be a unique feature, quality, price or a service that make your offer, service or product stand out from the rest.
- Marketing Goals and Objectives
You can establish clear and measurable goals that align with the overall business objectives. All these goals and objectives should be specific, realistic and achievable and most importantly time bound.
- Marketing Mix
The marketing mix consists of 4Ps that includes product, price, place and promotion. For some people, it is also people, process and physical evidence.
The marketing mix involves decisions regarding features of the products or services, its pricing strategies, distribution channels as well as promotional tactics.
- Marketing Channels & Distribution
You can determine when, where and how to distribute your products and services. It involves selecting appropriate sales channels & distribution networks that can reach the target audience effectively.
- Promotional Strategies
Promotional strategies are all about creating plans on advertising, public relations, sales promotions and direct marketing. It also involves other specialized tactics for reaching and engaging with customers.
- Budgeting and Resource Allocation
You can allocate financial resources appropriately to different marketing activities for achieving all the desired outcomes within the defined and desired budget.
- Marketing Implementation Plan
For implementing the marketing plan, you have to detail all the specific actions, timelines and responsibilities along with its responsibilities.
You will need all this materials to execute your marketing plan and strategy effectively. Your marketing plan will also need lots of manpower consisting of experts from different fields.
- Monitoring, Evaluation and Adjustment
You have to establish metrics to track the performance of all your marketing efforts. You have to also analyze the results and make adjustments based on the data collected to improve all the future strategy.
As we know enough about the basics regarding the marketing strategies, now it is the time to turn our focus to all the marketing strategies with examples and tips, are as follows:-
17 Marketing Strategies with Examples & Tips
You can take a look at all the 17 marketing strategies that are explained in great detail here-
- Search Engine Optimization
For marketing your products and services as well as promoting your brand, you have to optimize your website to rank higher in all the search engine result pages also known as SERPs for all the relevant keywords.
You have to specifically focus on keyword research and high-quality content creation. You must realize that seo marketing is one of the best and effective marketing tactic in the marketing world today.
- Content Marketing
Content marketing is all about creating blog posts, videos, infographics and ebooks for engaging and educating the audience. Content marketing helps you and your brand a lot in marketing your goods and products effectively before your consumers with different tastes and thinking.
You have to understand all the needs and preferences of your audience by creating valuable and relative content. You have to make contents that will attract and appeal to your customers effectively.
- Social Media Marketing
For the success of your business, you have to use and exploit social media platforms like Facebook, Instagram, Twitter and Linkedin according to your social media plan.
You have to modify your content for each and every social media platform and engage with your audience regularly to build relationships. It will help a lot in bringing new visitors to your website via these social media platforms.
- Email Marketing
Email marketing requires you to send newsletters, product updates & promotions via email to subscribers. It is the best way to attract the attention of all your prospective customers.
While sending your emails for marketing purposes, you have to personalize your emails, segment your audience and focus on delivering valuable content on increasing engagement.
- Pay-Per-Click Advertising (PPC)
Pay Per Click ads or ppc marketing is a new type of innovative marketing. It requires advertisers to pay every single time when one of their ads get clicked.
You can run Google ads or Facebook ads to drive traffic to your website. There are different types of PPC ads such as text ads and shopping ads. These kinds of ads appear in different types of the search engine.
While running PPC ads on the net, you have to set clear goals, target specific keywords or demographics. You have to constantly optimize your ads for better performance.
- Influencer Marketing
For marketing your products and services on video-centric social media platforms, you have to engage influencers by collaborating with them. You can also call it influencer marketing too.
Through influencers, you can promote both your products and services to the vast number of followers of the influencer working for you.
You should carefully choose influencers whose audience perfectly aligns with your target market. You have to also focus on building authentic partnerships too.
- Video Marketing
You have to market your products and services via videos. It is also known as video marketing. You have to create and share videos on various video-centric platforms like YouTube, TikTok and Instagram. Specifically for YouTube, you can also call it YouTube marketing.
To make video marketing successful, you have to keep your videos concise, engaging and relevant for provoking interests of your audience.
- Affiliate Marketing
You can use affiliate marketing for promoting your brand. This type of marketing process through which a company compensates third-party publishers for generating traffic or bringing leads for the products and services of your company.
It is safe to say that all the third-party publishers are affiliates and the commission fee incentivize them to promote the company. You have to partner with your affiliates for promoting your products or services in exchange for a commission.
You can provide your affiliates with all the necessary resources & support to effectively market your offerings.
- Mobile Marketing
You have to optimize websites and campaign for mobile users and also leverage SMS marketing, because mobile marketing is the best way to target and attract more customers towards your brand.
You have to ensure mobile-friendly design, utilizing-location based targeting and keeping messages brief yet impactful. The mobile-based marketing is more effective these days then the traditional based marketing. So, you have to really put more focus here than the rest.
- Chatbot Marketing
While building and designing your business website, you have to implement chatbots on websites and in the messaging apps. These chatbots helps a lot in assisting users and driving conversions rapidly.
You have to efficiently program chatbots for providing relevant information promptly. It will help a lot in seamlessly guiding users through the sales funnel.
- Customer Relationship Management
You have to use CRM software for managing all your customer data along with their interactions with the website of your brand. Moreover, the CRM software helps a lot in improving the relationship of your brand with your customers via the website.
Thus, for managing your customers via the CRM software, you have to personalize communication. You have to also track all the interactions of your customers. Besides that, you can also use all the data gathered from your customers for enhancing customer experiences.
- Re-marketing & Re-targeting
You have to show targeted ads to the users who have previously visited your website, but didn’t convert as expected.
You have to use compelling visuals and offers to re-engage all your previous visitors and remind them of your products and services. If possible to convert them into full-time customers.
- Interactive Marketing
The society and the world of advertising and marketing has changed a lot in the 21st century world. To attract more viewers towards your brand, you have to create quiz polls.
Besides that, you have to use several interactive tools for engaging and educating your audience about your brand at the same time.
You can make the interactive content on your brand’s website entertaining. Besides that, you have to also make the content informative and sharable for increasing user engagement.
- User-Generated Content (UGC)
You can encourage all your current customers to create and share content about your brand like reviews and testimonials, with your friends and family members.
The best way of encouragement is none other than incentivizing your users to generate content. You can also showcase UGC across all the platforms. Furthermore, you have to also engage with the contributors too.
- Local SEO and Listings
For marketing your brand, you have to optimize for the local searches and ensure accurate business information on directories like Google My Business.
Hence for optimizing your local seo and listings, you have to include local keywords, maintaining the consistent NAP information such as name, address and phone and constantly encouraging customer reviews.
- Cross-channel Marketing
For this type of marketing initiative, you have to co-ordinate marketing efforts across several channels for a cohesive brand experience.
For cross-channel marketing to succeed, you have to maintain messaging constantly. You have to do the same with branding while tailoring content for the audience of every single channel.
- Data Analytics & Optimization
In the world of digital marketing, you can even take data analytics and optimization into the play. You have to use specialized tools for tracking and analyzing marketing performance metrics.
You have to do so for refining all the marketing strategies that will help you in bringing more clients and customers for your brand.
Thus, you have to constantly monitor all the key metrics. It also includes testing different approaches and adopting strategies that are based on the data-driven insights.
Hence, these are the 17 examples and tips of the marketing strategies that are capable of increasing the reputation and popularity of your brand among the masses.
By employing all the marketing strategies that are mentioned above will help your brand and company to grow in size and scope within couple of years. I will command respect among the stalwarts of industry like a army commander.