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Statistically, 64% of marketing executives say the most profitable marketing strategy is “word of mouth.” But depending on where your company is in the sales funnel and who your audience is, that could change.
Different Types of Marketing Strategies
The best marketing strategies of all time are always about the basics of human behavior.
After all, if you’re not able to understand the psyche of your potential customers, no amount of ad spend can save your business.
Marketing is the most important part of growing a business—and if you’re looking for marketing strategies that provide results, look no further.
Marketing channels are platforms that every organization uses to reach their customers at the end of the food chain.
These channels are usually interdependent and communicate with each other to maximize productivity.
Read on to learn about the top types of marketing around today.
Word Of Mouth Marketing
Word of mouth marketing is likely one of the best types of marketing because we experience it every day, even if we don’t realize it.
When people say good or bad reviews about a company or product, it influences your buying process and decision-making when purchasing products.
Internet marketing, or online marketing, combines web and email to advertise and boost e-commerce sales.
There are so many digital marketing strategies, and sometimes it can be overwhelming when you’re trying to decide which one to prioritize.
Marketers looking for the ultimate digital marketing strategy need to clearly understand their business, product, and demographics before choosing a digital marketing strategy.
Based on this amazing practice, product marketing and product designs can be decided.
Controversial marketing uses controversial topics to drive attention to marketing campaigns. It doesn’t aim to polarize audiences, but rather grab their attention and spark discussions.
There are pros and cons to this approach. On the one hand, it has the potential to go viral and generate some buzz around your brand.
However, there’s a risk that you could turn off potential customers.
Multicultural marketing is devising and executing a marketing campaign that targets people of different ethnicities and cultures within a brand’s overarching audience.
It involves in-depth research to understand those communities’ needs and values and the right messaging to resonate with that group.
Search Engine Optimization
While there is no end-all-be-all “best” digital strategy – search engine optimization, better known as SEO, should be required.
SEO is the process of using keywords and phrases related to your business that your ideal audience is searching for.
According to Moz, web searchers are 8.5x more likely to click an organic (free) listing than a paid result.
So the visibility of SEO is worth more than the visibility PPC ads give you. Trust SEO helps you build trust with potential clients and search engines.
Why? Customers are more likely to trust your business if you rank at the top of the search results. Search engines will also start to trust your website as you rank higher.
Giving your website more authority and making your future SEO efforts even easier.
Search Engine Marketing
Search engine marketing, or SEM, is a tool that companies use to grow their website traffic through paid online advertising.
One of the most popular SEM methods is pay-per-click (PPC) links.
Essentially, a company buys or “sponsors” a link that appears as an ad in search engine results when keywords related to their business are found online.
There are also ads management tools to make creating and managing PPC campaigns a breeze.
Users who click on an ad are 50% more likely to purchase, pick up the phone or submit an RFQ than a searcher selecting organic results.
Even if you’re already seeing strong organic traffic, PPC can help close any keywords gaps you’re experiencing, and multiple appearances in search results will give you a competitive advantage.
According to AdEspresso, the average PPC cost is only $0.28. And you will only pay that when users take the desired action.
PPC is one of the marketing strategies that can catapult your business in front of local and global audiences.
Symbiotic Relationship SMM forms a symbiotic relationship with your other marketing efforts.
You can combine it with other content or brand marketing forms, like photos, webinars, videos, website links, etc.
The goal here is to be thought-provoking and generate discussion so that your brand is remembered and associated with positive sentiment.
To begin brand marketing, you need to understand your buyer persona and what resonates with them deeply.
You must also consider your position in the market and what makes you unique from your competitors.
This can help shape your values and what you stand for, giving you fodder for storytelling campaigns.
Social Media Marketing
Effective marketing seeks to reach audiences when they are most likely to be open and attentive to the message.
Social media is a great way to broaden your audience at a lower cost than some other marketing efforts.
Because small businesses can’t afford to use every type of marketing channel, they need to think carefully about their delivery mechanisms – newspaper, radio, TV, social media, and others – and consider whether messages are being conveyed in the right place right time.
Social media marketing focuses on providing users with valuable content and is compelled to share across their social networks, increasing visibility and traffic.
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.
One of the best ways to perform market research is through surveys.
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
Free social media tools like Facebook, Instagram, and Twitter let you take advantage of immediacy to take advantage of trends, events, and other time-sensitive issues that can help improve your online traffic.
The easier the platform is to use for you and your audience, the better. This will help in your relationship marketing.
If it’s easy for them to use, they’re more likely to be spending a lot of time there.
Social media shares content, videos, and images that influence SEO efforts.
They often increase relevancy in search results within social media networks like Facebook, Twitter, LinkedIn, YouTube, and Instagram and search engines like Google and Yahoo.
Social media has certainly changed the game about how modern-day marketing works.
Every small business is interested in creating an effective marketing strategy.
But while many small businesses focus their efforts on the free and low-cost marketing opportunities that social media platforms offer, ads have also proven effective to drive ROI.
Once you build your influence, you can use many more powerful marketing strategies.
With influencer marketing delivering ROI as high as $6.50 for every $1 spent, it’s quickly become one of the most effective marketing strategies for a small business.
This explains why influencers find their way into many social media promotional strategies used by small businesses.
Unsurprisingly, Facebook dominates in social media advertising, as over 93% of marketers use some form of Facebook ads.
Influencer marketing involves having someone noteworthy or of high-status sponsor your product.
To create a successful influencer marketing campaign, Entrepreneur contributor Murray Newlands recommends the following steps:
Select your KPIs
Focus on the social media channels where your target market is most present
Find a credible influencer
Plan your publishing schedule
Consistently improve and measure your outcomes
It requires brands to plan a promotion strategy, develop creative assets to create anticipation, and determine the right channels to spread awareness.
An event – whether it’s a workshop, seminar, trade show, conference, or pop-up shop – helps brands connect directly with their target audience
But you may be wondering how you can constantly direct them to your site without coming across as a pushy salesman? Simple. Don’t be a pushy salesman.
Offering sales, giveaways, and discounts to bring visitors to your site is fine on occasion and perfect for your event marketing.
But a surefire way to get visitors to your site is to offer up some freebies. This is worth doing because you’ll be building a loyal customer base.
And often, a loyal customer base is willing to drop more money on a brand they like, even if it’s more expensive than the other options.
Conversational marketing is just that — a conversation.
Real-time interaction via a chatbot or live chat gets the right information in front of prospects and customers at the right time, allows them to self-service, and get questions answered immediately.
The challenge, though, is managing multiple channels without slow response times, internal miscommunication, or productivity loss.
That’s why it’s important to use conversational marketing tools, such as a unified inbox, to streamline your efforts.
Referral marketing describes companies’ systematic approach to incentivize people to tell others about their products or services.
Implementing specific affiliate programs, customer referral programs, and partner programs within a marketing plan structure will offer existing customers instant credibility to grow a customer base.
“Referral programs” is often used synonymously with “referral marketing.”
Referral programs are effective because they:
Leverage the recommendations of happy customers
Authentically recognize customers’ brand loyalty and reinforce it
Account-Based Marketing (ABM) is a B2B strategy that focuses on a targeted set of accounts using highly personalized campaigns.
It provides marketing and sales teams with many advantages, including a faster sales process, cost-effectiveness, and more efficient use of resources.
Email marketing is a highly effective way to nurture and convert leads. However, it’s not a game of chance, as to whether your message winds up in spam filters.
Instead, email marketing is an automated process that targets specific prospects and customers to influence their buying decisions.
If customers get annoyed or your content is not relevant, all they have to do is click “unsubscribe.”
Approximately half of all Internet traffic comes from a mobile device. To leave a good impression, your emails must have a responsive design.
Because of the nature of email marketing, it’s relatively impersonal compared to other types of marketing strategies.
You can still improve personalization in many ways. Examples include using first name tags, city tags, etc.
According to Smart Insights, the most effective strategy in 2018 was social media marketing, followed by content marketing.
The least was data management, with SEO being somewhere in the middle.
While this is by no means cut and dry (some strategies will work better than others, depending on several variables), it offers an interesting glimpse into the most probable methods of lead generation.
Email marketing and video constantly stand out as effective ways to market almost any product through any industry.
However, in the chart listed with Smart Insights, it’s not as powerful as content or social media marketing.
Most B2B content marketers use educational assets to nurture leads and build audience trust, which is essential for inbound marketing. (Related blog: The Lead B2B Tools)
Robin Barendsen, head of digital marketing at office space rental company WehaveAnyspace, noted 77% of B2B marketers use content marketing.
With the current scenario, it has become more important to use catchy, interesting, and correct content to provide customer engagement with businesses.
Good content can make a company go viral and multiply profits overnight, and a lousy piece can ruin one’s reputation that would have taken a long time to build.
This proves that content needs to be handled with care and rightful precautions.
Brands should create content that is relevant, authoritative, and, of course, educates its audience.
Building A Marketing Strategy
Whether you’re looking up reviews for a popular video game, checking restaurant ratings on Yelp, or seeing if your local store has the right item in stock, you’re using mobile for basic consumer needs.
If your marketing strategy answers the “why” behind your marketing actions, then tactics are the “what” you’ll 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 healthy content supports them.
The content we create is used to draw attention to our product.
With that in mind, here are a few ways you can ensure that your mobile marketing strategy stays on track: (Note that these tactics are used in different types of marketing).
And don’t forget the content you’ve already published.
Cyrus Yung, the co-founder of SEO company Ascelade, said updating old content is a strategy that has served Ascelade well.
Google has a freshness ranking factor, and most sites eventually see content decay.
“They have old articles that have ranked well previously and have attracted backlinks, but the search traffic for that particular article is on a downward trend,” he said.
Going through each article and page individually and updating them can lead to a big increase in organic rankings, which eventually will result in more website traffic and new customers.
It’s cheaper to refresh old content, so Webster called this small technique a “huge win.”
Jeroen Minks of PPC agency Vazooky Digital called updating existing website content “one of the best and most successful marketing strategies that I [used] last year.”
Advertising is a form of paid media to derive traffic through pay-per-view clicks and sponsorships.
Google My Business
Google is usually one of the first places people turn when looking for a business, especially local businesses, and it’s an easy way to increase leads quickly.
You would be overwhelmed by the results by steadily producing posts, updates, and helping drive people to your ‘Google My Business’ listing.
It doesn’t just appear to be helping local SEO; it is also highly significant in driving searches on brand names.
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.
Set A Realistic Budget
The U.S. Small Business Administration recommends spending 7-8% of total revenue on your marketing campaigns.
Focus on selling without worrying about physical product manufacture and storage.
Teach, Don’t Sell
The idea of teaching instead of selling seems to turn marketing on its head, yet it’s at the core of content marketing.
“Teach, don’t sell” is what makes content marketing different from advertising. This is a concept that far too many modern-day marketers misunderstand.
And it’s why many businesses struggle to differentiate their message through content marketing.
Think Like A Customer
It can be difficult for small business owners to view their business and products from the outside in, but that’s exactly what they must do if they hope to be successful in their efforts.
Marketers need to learn about and consider audience needs and concerns, and identify potential objections they can work to overcome in their marketing efforts.
They can identify key benefits to focus on that will be attractive to the target audience.
For example, instead of focusing on the ingredients of your toothpaste, you would focus on telling parents that your toothpaste prevents cavities in children.
Help From Webinar
Webinars have become a go-to strategy for tech businesses with a good digital presence. However, small businesses that are not so tech-savvy are missing out.
Ryan-Forrest, our vice president of marketing, uses webinars as a critical component to building the company’s customer base.
Webinars give audiences a chance to know, like, and trust Forrest. So far, it’s been a success.
With webinars being among the top go-to marketing strategies, you need to take advantage of this trend.
When done correctly, starting a blog is one of the best ways to drive targeted traffic to your website.
Marketers that effectively utilize blogs tend to get 67% more leads than those that do not. But that’s only if you’re doing it right.
Write A Column
Writing a column or guest blogging opportunities for well-known publications that share your target audience is a great way to drive traffic to your website and generate brand recognition.
Our CEO Devin-Johnson, for example, writes for publications like Forbes, which has served to provide great leads for his business.
This tactic, also known as guest posting, can also help you develop partnerships with publications.
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.
Earned media is unsolicited and can only be gained organically. It cannot be bought or owned like traditional advertising.
Earned media (or “free media”) is publicity created through methods other than paid advertising.
Earned media accounts for 25-40% of all traffic and lead generation.
Taking an earned media approach to inbound marketing is effective because it’s generally “free” advertising channels.
It’s unsolicited and, therefore, has instant perceived credibility, increased awareness of valuable, educational, and trustworthy content.
Printing company Thumbprint, noted live streaming was on the rise in 2019 and would continue to dominate in 2020 because it is free, takes a short amount of time to produce, reaches a broader target audience, and offers authentic user engagement.
These little personalized marketing messages inculcate a special bond between the consumer and the brand.
Such messages also give a premium feel to the audiences, leaving a lasting impression in the minds.
Platforms like Google and Facebook are taking more control of audience targeting.
Their algorithms have become adept at understanding which ad images will derive the best click-through and conversion rates.
We’ve seen creativity emerging as a serious performance driver with these shifts, complementing other key drivers like placement selection and audience targeting.
Creativity efforts never go to waste, and the audiences always recognize the extra hard work. To put the content is one thing, and to showcase it is another
Unlike traditional marketing methods — even the other strategies listed here — inbound marketers earn customers’ attention and pull them to a company website by producing and providing meaningful content.
Because messaging is relevant and appears in the right place at the right time, inbound invites visitors in rather than forcing a sale upon them.
The Benefits of Digital Marketing
You can easily measure the effects of your marketing campaigns and see if your strategy is effective or not.
You can reach a wider audience on the Internet than you ever could with a local billboard or newspaper ad.
You can also engage directly with your target audience and encourage them to take the desired actions
What Kennected Has Learned About Marketing Strategies
In this blog post, we have shared 16 of the best marketing strategies of all time. We sincerely hope that you have enjoyed reading and learning from them.
When it comes to marketing strategies, we use a form of niche marketing through mainly modern approaches like social media and email marketing.
We believe that standing out from similar companies can get you somewhere. It can get you more revenue, but not only that, but quality connections and leads.
If you’re interested in learning how to incorporate the most effective marketing techniques into your inbound marketing program, click the link and start today!
Want more content? Comb through our blog page, which details various topics you can take with you for later reference.