6 Marketing Strategies to Boost your Business
When it comes to marketing, there are many thoughts started running in our mind related to its strategy and implementation. Marketing strategies play a very vital role in the growth of business if done in a relevant manner. Marketing is simply a process by which a product or service is informed and promoted to potential customers. It’s not a rocket science but sometimes looks very difficult and confusing to create a plan that ensure our business growth.
Successful marketers always try to understand the fundamental principles of marketing and smartly apply them to new techniques and platforms. They make smart decisions based on insightful data analysis, deeply understand the modern buyer’s journey, and know how to influence them at every stage. Based on the experiences that I’ve got along with my fellow marketers from various industries, I am going to reveal some common marketing strategies that apply to most businesses.
Niche marketing is a very effective means of advertising as it focuses on selling a specific product to a specific customer at a specific price. It helps to address the unique requirements of that target group. While data definitely makes it easier to target these consumers, the most difficult task is to extract valuable information from the huge volumes of data available. An entrepreneur can occupy the dominant position in the market by focusing on a smaller market segment. This approach helps them to enjoy more profits and run the business efficiently.
You can even go deeper with hyperlocal marketing where you target your prospective customers in a very specific area that could be even just a street or a hub. All big brands are already investing heavily into personalization, and consumers are now in a habit of privileged treatment. While promoting OnePlus 6T in India, the company has applied an on-ground popup strategy where its target audience frequently visits.
Creating an Internal Brand is a corporate strategy for enabling and motivating employees to actually “live” a brand’s promise. Having the world’s best marketing team wouldn’t get a company too far if its internal culture is not at par with the external brand image. The brand strategy has to be lived by all the employees.
This is the responsibility of top management to extract the real value of their employees and give them work accordingly. By recognizing the strength of employees, they can avoid any possible failures and ensure the success of every individual. Brands grow from the inside out, and that makes internal branding extremely important and actually a contributor to increased sales. A company’s internal and external brand must always relate to one another.
With the increasing use of the internet on electronic devices like laptop and smartphone, online marketing is also becoming necessary. According to a recent report by eMarketer, the total number of Internet users globally will surpass 3 billion to reach 42.4% of the entire world’s population. Having a mobile app or website allows you to market your business online. It also helps you to establish the credibility of your brand in the market.
More than 2 billion peoples are using social networking sites. Our daily routine entails a few hours of surfing the internet and browsing social media sites. Most of the people now explore about products or services on Google before making any purchase decision. The perception that marketing is for the large caps is no longer tenable. With the dawn of digital era, small brands now also have a fair chance of going online even with lower marketing budgets and limited supply chain. Awareness of online advertisement and marketing will ensure the growth required for your business.
Both seminars and webinars are a great way to promote any product or services. This marketing strategies provide you a fair chance to explain and make your audience realize the need of your services. Webinars act as an automated selling tool for taking any product to market and reaching a wide audience quickly. It can also help to grow any business relatively fast.
Today, YouTube is the second largest search engine in the world after Google. Whenever someone wants to learn something visually, they head there. You’ve likely done it yourself countless times. So just ask yourself what you could teach in your business that would help consumers solve their problem?
Freebie Marketing Strategies
You can also try to sell a low value item for free to sell a high value item in future. It is a great way to engage visitors and to establish your credibility in their mind. Providing free educational materials is one of the best marketing strategies in this category. You should have a free tutorial, eBook, video series or instruction guide that people can download from your website.
If people are interested in your product or service, offering a free download can be a great way to engage a prospect. Give people so much value that you instantly become an authority in their eyes. This is one of the most powerful strategies you can use to market any business.
In this form of marketing, brands use to create a hype, mystery, and excitement for their upcoming product. This marketing strategy focuses on creating a buzz among the audience without letting them realize that products are actually being marketed to them. Now, it can be done using social media platforms where people jump into tags, share, and comments related to that product. This marketing hack is also known as stealth or guerrilla marketing.
Further, the conditions in which such marketing strategies are used play a vital role in seeding curiosity among the minds of people. From showing products in relevant movie scenes to showcase in malls and sports event like T20 Matches, it works wonders while appealing to a larger audience. This marketing is a boon for the promotion of products going to be launched.
Having the best marketing strategies is important because it allows businesses to maintain long-lasting relationships with their audience. Sure, you need to have a good product but if people don’t know your offerings then how can you generate sales? Marketing is the most effective way to tell your value proposition to your customers in an interesting manner. It helps in driving sales and ensures the growth of your business.