Last updated on July 19th, 2021 at 01:51 pm
As a new startup, a large share of your marketing efforts have likely been geared towards the digital world. You’ve built relationships with influencers, you have mastered your social media game, and your SEO strategy has already improved your search visibility.
However, there’s no time to become complacent. As a growing business, every investment you make must be planned carefully with as much of a guarantee of success as possible.
In this blog, you’ll learn what effective marketing strategies are and the different types of marketing strategies that you can use to promote events. Plus, we’ll help you pick the right marketing strategy for your business.
What Is A Marketing Strategy?
A marketing strategy refers to a company’s overall plan for reaching potential customers and turning them into buyers. It covers the company’s value proposition, key brand messaging, data on target audience demographics, and other high-level elements.
Many people confuse a marketing strategy with a marketing plan. However, the two are related but different. The marketing strategy informs your marketing plan, which is a document that details the particular types of marketing activities you conduct. It also includes schedules for rolling out various marketing initiatives.
While marketing strategies include big-picture messaging, your marketing plans outline the logistical specifics of particular campaigns.
How To Pick The Right Marketing Strategy
To select the right marketing strategy for your business, follow these steps:
1. Define The Target Audience
Identifying your target audience is one of the basic building blocks of a successful marketing strategy. A great way is to analyze your existing customers. Understanding the characteristics and purchasing patterns of the people who currently buy your product or service can help you create buyer personas.
2. Test Your Audience
You can test everything -from landing pages to emails to social media campaigns. By testing, you can find out not only which tactics work best, but also which headlines, images, and calls to action resonate most with your target audience.
Remember, not every test is going to be successful. In fact, sometimes the best insights come from tests that fail. So, always analyze your results and apply your findings to your next campaign.
3. Explore Different Types Of Marketing Strategies
Once you know the demographics, preferences, attitudes, and buying behaviors of your target audience, use this knowledge to explore various marketing strategies.
4. Assess Those Marketing Strategies
Assess every marketing strategy example, apply it, and evaluate it. This process must be for testing purposes and you should choose the most appropriate and productive strategy.
5. Review Every 12 – 18 Months
With rapidly evolving technology and increasingly fragmented audiences, it’s imperative to reassess your marketing strategies on a regular basis. Avoid delivering stale messages because you’re short on time and don’t assume an idea or tactic is going to be successful just because it worked in the past.
The Most Common Types Of Marketing Strategies
Marketing strategies can be broadly classified into two types:
- Business To Business (B2B) Marketing
B2B marketing involves the sale of one company’s product or service to another company. While consumers choose products based not only on price but on popularity, status, and other emotional triggers, B2B consumers make decisions on price and profit potential alone.
- Business To Consumer (B2C) Marketing
B2C marketing refers to the tactics and strategies in which a company promotes its products and services to individual people. It includes creating, advertising, and selling products for customers to use in their everyday lives.
The Best Marketing Strategies For Small Businesses
Some of the best small business marketing strategies include:
This type of marketing strategy includes multiple approaches. The traditional approaches include TVCs and print media advertising whereas modern approaches encompass internet marketing, such as pay-per-click (PPC) and social media ads.
This market strategy example focuses on building relationships with the customers, which includes improving existing customer relationships and boosting customer loyalty.
Did you know, 92% of people trust recommendations from friends and family over any other type of advertising? Word-of-mouth marketing totally depends on the impression you leave on the audience. When you give quality services to customers, they are more likely to promote you.
Everything You Need To Know About Event Marketing Strategies
Looking for the best event marketing strategy? Here are a few examples:
Early Bird Discount
Once you’ve gone past the initial launch excitement for your event, you’ll need to come up with more reasons to compel people to register (and register now rather than later). Early bird discounts work by increasing your ticket sales before you increase prices closer to the event.
A pre-event page becomes a central page to drive people to. You can use it to capture early interest (all leads that can be contacted later) and it will also help with your SEO.
Blogging & Social Media
The best way to tell people why you’re organizing a certain event is to blog about it. Blog posts are also less salesy than an event landing page. So, they are a great way to attract initial interest. Another great tactic to grab eyeballs to your event is to share your blog posts and updates on social media.
Event marketing partnerships can be critical to your event’s success, so you need to start reaching out to potential collaborators, complementary brands, and media partners before your event has officially launched.
Examples Of Marketing Strategies
Some other examples of marketing strategies include:
Cause marketing links the services and products of a company to a social cause or issue.
Diversity marketing caters to a diverse audience by modifying and integrating different marketing strategies, covering different aspects like cultural beliefs, outlooks, opinions, and other specific needs.
Transactional marketing persuades customers to buy with shopping coupons on postcards, discounts, and huge events, improving the chances of sales.
Digital disruptions have reduced attention spans and desensitized customers to ads. However, print marketing has been able to remain effective in retaining attention, generating emotions, and impacting purchase decisions.
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