As we are progressing each and every day, we have grown to have a keen inspection of the products we use and the services we consume.
With the growing scrutiny it has come on the shoulders of the company to prove its product’s mettle in the competition and the most appropriate way to show is to have its marketing done the right way. It has become of utmost importance that a product is marketed well so as to receive the right response.
The main motive behind marketing of a product is to persuade people to trust their product and buy it.
Companies assign big budgets to the marketing sector as marketing can either make a company blossom or either can be the reason behind its shutting down.
Professionals take control of the campaigns and make sure the campaigns fit right for the company and its customers. Different marketing channels are used to carry out the strategies to reach the right audience and also avoid media wastage.
What is Marketing?
Marketing is a process by which companies create, communicate, deliver and offer exchanges that have value for their target customers. Marketing can also be defined as a promotion of a product or services by an organisation aimed directly to its customers.
At a fundamental level, marketing is the process of understanding your customers, and building and maintaining mutual relationships with them.
Big-time industrialists would define marketing as selling on a large scale and also as a serene form of mass communication.
However, organizations are using exponentially generated data and adopting latest technologies and tools to analyze data and obtain more insights that are relevant to their individual growth, one such data analysis technique is marketing analytics.
What are Marketing Strategies?
Marketing strategies are always woven synonymously with marketing and its working. A marketing strategy refers to a business's blueprint to reach prospective consumers and turn them into customers of their products or services.
A marketing strategy contains the company’s value proposition, key brand messaging, data on target customer demographics, psychographics, and other high-level elements.
These strategies are planned with keeping 4Ps of marketing in mind. The 4Ps define the approach towards a segment of the market or a specific society of customers. These 4Ps are:
4Ps of marketing
But what should we do when Marketing strategies fail to deliver or fall short of the desired results? Then we take help of Marketing tactics.
Marketing Tactics are the strategic actions that are aimed at the promotion of a product or a service to boost specific marketing strategies.
If your marketing strategy answers the “why” behind your marketing actions, then tactics are the “what” that you’ll actually execute to achieve your goals.
The content that we create is used in marketing tactics. The content drives the tactics as tactics can only be considered worthy if there is healthy content supporting it. The content that we create are used as tactics to draw attention to our product.
Making blogs, socially viral posts, or even conducting polls on twitter are considered to be good tactics in order to succeed at our marketing.
Sponsorship, testimonial, influencer posting, case studies, crowdsource, events, etc. are considered to be the tried and tested formulas of succeeding at marketing tactics.
Now these marketing tactics are used in different types of marketing.
6 Types of Marketing
There are various types of marketing, namely;
Types of marketing
Social network and viral marketing- Social media marketing focuses on providing users with content they find valuable and are compelled to share across their social networks, resulting in increased visibility and traffic.
Advertising- Advertising is a form of paid media to derive traffic through methods like pay-per-view clicks and sponsorships.
Internet marketing- Internet marketing, or online marketing, combines web and email to advertise and boost e-commerce sales.
Direct selling- In this model, sales agents build face-to-face relationships with customers by demonstrating and selling products away from retail units, usually in an individual’s home.
PR- Earned media (or “free media”) is publicity that is created through methods other than paid advertising. PR is considered to be the most trusted and credible form of marketing.
Sales promotion- When companies offer promotional offers and additional discounts on products, it is known as Sales promotion.
(Most related: Marketing Analytics Tools)
What are the Effective Marketing Techniques?
The above mentioned tools are used to influence and persuade people but there are some techniques which boosts the working of these tools and provides exceptional results in return.
These certain techniques namely would be;
Content has proven to be the hottest word during this pandemic-stricken phase and it is no secret that if your content is good and worthy, then it will be recognized and received well.
In fact, the majority of B2B content marketers use educational assets to nurture leads and build audience trust, which is essential for inbound marketing.
(Related blog: B2B Marketing Strategies)
With the current scenario it has become all the more important to use catchy, interesting and correct content so as to engage in a right manner with your audience.
A good content can even make a company go viral and multiply profits over night and a bad piece can ruin one’s reputation that would have taken a very long time to build. This proves that content needs to be handled with care and rightful precautions.
(Suggested read: How big data is used in content marketing?)
These little personalized marketing messages tend to inculcate a special bond between the consumer and the brand. Such messages also give a premium feel to the audiences which leaves a lasting impression in the minds.
Understanding demographics, affinity categories and in-market segments helps us analyse the customer behaviour and modify the messaging accordingly.
These messages tap in the soft corner of a consumer’s heart and makes them feel valued and respected.
For instance, swiggy and zomato both send personalized messages with the consumer’s name first and then using latest viral content to relate with them and form a mutual cordial relationship.
According to Natalia Wulfe, CMO of digital marketing agency Effective Spend, platforms like Google and Facebook are taking more control of audience targeting as their algorithms have become adept at understanding which ad images will derive the best click-through and conversion rates.
(Also read: Digital Marketing tools)
With these shifts, we’ve seen creativity emerging as a serious performance driver, complementing other key drivers like placement selection and audience targeting.
Creativity efforts never go to waste and the extra hard work is always recognised by the audiences. To put the content is one thing and to showcase it is another.
Creativity helps us to convey our content to our consumers in such a way that it provokes a thought-initiating process in them and they also relate to it easily.
Invest in original research
If the foundation to anything is strong, it leads naturally to better results. Investing in original research is the same, as putting in extra effort at the beginning improves the results manifolds and many new interesting results are found out.
New data attracts links and if it is presented nicely, it compels people to share it on social media.
Investing at the start also allows the data and information acquired to be more informative, more productive, more input bearing and more precise.
Original research is the first building block of our campaign and with it being more accurate, it just allows us to focus mainly on our target audience and avoid media wastage of any kind.
And don’t forget the content you’ve already published.
In fact, Cyrus Yung, co-founder of SEO company Ascelade, remarked updating old content is a marketing strategy that has served Ascelade well as Google has a freshness ranking factor and most sites eventually let content decay.
“They have old articles that have ranked well previously and have attracted backlinks, but the search traffic for that particular article is experiencing a downward trend,” he said.
By going through each article and page individually and updating them, it can lead to a big increase in organic rankings which eventually will result in more website traffic and new customers.
Another popular strategy was responding to queries from journalists on platforms like Help A Reporter Out (HARO), as they are constantly looking for expert advice in a range of fields.
Olga Mykhoparkina, CMO of chat platform Chanty, was quoted saying in HARO’s favour, “by far the best marketing activity we’ve done this year”—more so than even guest blogging and fixing broken links.
Guest blogging opportunities
Allowing more people to create content for your brand through guest blogging is an excellent way to derive a lot of organic traffic and promising leads for a company.
It is ideal for a company to scale its content strategy by allowing clients to contribute to its blogging services which can prove beneficial for both the parties as guest posts contribute to leverage their expertise and the companies use their knowledge to leverage their blog as a resource for relevant information and lead generation.
Through steadily producing posts, updates and actually helping drive people to your ‘Google My Business’ listing, you would be overwhelmed by the results. It doesn’t just appear to be helping local SEO, it is also highly significant in driving searches on brand names, too.
Increased web traffic is one of the main goals of SEO, and you generate traffic when you increase visibility and rankings.
Consider this for a moment: nearly 33% of clicks go to the first ranking page, and the first five listings get more than 75% of all clicks.
(Most related: What is SEO? Importance and Marketing Strategies)
Strategic Use of Different Marketing Channel Effects
Marketing channels are platforms which every organization uses to reach their customers who are at the end of the food chain. These channels are usually interdependent and communicate with each other to maximize productivity.
The strategic use of these channels tend to affect some measures, which are:
It is the most crucial aspect to find the right customers or communities that can be targeted for branding any specific kind of service or product.
Market segmentation has been recognized as one of the most recognisable researches that play a significant role in finding target audiences easily and efficiently without having any confusion in mind.
This practice enables knowing consumer’s demographic aspects such as personality traits, purchase preferences, and requirements, income, age, and other related details.
Based on this amazing practice, product marketing, along with product designs, can be decided.
(Related blog: B2C Marketing strategies)
Every sale’s average amount
The consumer’s purchasing amounts every time should be carefully noted so that the branding campaign can be framed accordingly.
Marketers usually implement a specific formula to attain accurate knowledge about the average sale’s amount of customers.
Total sale orders’ value within the chosen timeframe should be divided by intervals for bringing out accurate results.
Web based purchase decisions
Consumers’ purchase decisions are profoundly affected by discount coupons or promotional vouchers offered by brands making the targeted customers automatically get interested in the brands as a result of which product sales will increase.
Google analytics has been recently utilized by various marketing specialists to determine how consumers interact with marketing options available in the current scenario.
Nowadays, most people are found to be showing interest in the purchase of those products that are getting marketed over the likes of social-media platforms.
Diversified payment options are very flexible and lucrative especially for attracting online purchasers. Online modes of payment are not only convenient but can also make purchases seem faster and hassle-free.
Payment options should be suitable and flexible enough so that purchasers can choose according to their requirement or necessity.
Nowadays, most people prefer a COD facility where costs are paid only after the product is delivered. This is quite a popular payment option and considered safe regarding money theft. As most people like this type of payment, brands also make sure that they provide such facilities.
(Recommended blog: Basics of Product Positioning)
After learning all the tools and techniques, it is correct to say that the marketing sector is a world on its own and consists of different spheres of working. Different tactics, strategies, techniques but the motive is singular; to increase the sales of a product.
Through these effective techniques it is possible to increase your results provided they are used correctly and at the right time of the product life cycle. Many new techniques have come up which are faster and better than the traditional methods and they are being used at a global scale as the feasibility is such.
KB marketing agency quotes, “Ignoring online marketing is like opening a business but not telling anyone.”
These methods are mostly over the internet and during this pandemic season the likeability of such promotions have increased drastically.
Our dependence on these techniques proves that methods online are engaging and more preferred by the target groups. In addition, online campaigns cost much less than the broadcasted and printed advertisements.