We should all be aware of marketing strategy. If we want to achieve success in the business that we have spent so much time and effort creating.
we have to advertise our services effectively and make sure that people are aware they exist.
Although it’s not a lot to think about, this is what marketing is made up of: An advertisement is sent out into the world via different platforms with the intent of increasing awareness for a brand.
This heightened awareness may lead to new customers and thus revenue growth!
Most of us have developed our own marketing habits. Some people might tend to follow the same old routine but that’s not how you want to be remembered.
You should try different marketing strategies, some which you are comfortable doing and some that you may need to get used to your audience.
Yet, make sure the marketing activities you choose be worth your time and money.
When it comes down to it, marketing is like good advertising. While you want to have a plan in place and make sure your approach is effective and people are responding.
It’s important to analyze what you’re doing every now and then so that you can see if all of the hard work and effort you put into reaching out to your target audience or client base is paying off.
It’s easy to get stuck in marketing ruts – especially when creating a sales funnel or an ongoing campaign.
Without marketing, there is no business because quite simply your company will not have any customers and nobody on which to spread the word.
Though it may seem a bit intimidating at first, there are four types of marketing strategies that you can use to kick-start your marketing plans.
So, as to bring more new people into the fold and reel in older customers who might be getting disinterested.
Knowledge of each type of strategy will help you find potential areas for improvement in bringing in more new business.
Each will focus on a different type of marketing strategy with an overview for how each is accomplished followed by a why, what, where and when scenario
So, as to give you some ideas on how you can use them yourself to improve your sales.
4 Types of Marketing Strategy
1.Cause Marketing:
Cause marketing, also called cause-related marketing, is a way of associating a corporate product or service with a social good by making an explicit claim to donate part of the proceeds from sales to organizations funding related projects.
2.Relationship Marketing:
Relationship marketing focuses on customer retention and satisfaction with an aim of increasing loyalty.
It is actually a concept rather than a strategy, and essentially reviews how you adopt a more customer-centric approach to doing business.
3.Scarcity Marketing:
Scarcity marketing is a kind of advertising that gives customers the impression of a shortage.
This strategy focuses on creating fear in the minds of customers so they might be compelled to buy off stocks before they run out.
4.Undercover Marketing:
Undercover Marketing, also referred to as stealth marketing, involves disguising the fact that you’re marketing to consumers by keeping your company’s information out of their sight.
Conclusion
The first two – cause and relationship marketing – are considered more positive methods of marketing.
They are designed around the benefits that your company has to offer.
The second two – scarcity and undercover marketing – are more controversial because they employ practiced deception used in order to receive a benefit as well.
