Implementation of Business Marketing Strategy
Marketing is one of the cornerstones of business growth. Without a marketing strategy in place, a business would be unable to acquire new customers, preventing it from expanding. Conversely, businesses that market themselves well see higher revenues, greater profitability, and increased brand awareness.
This much is common knowledge. The part that people usually don’t understand about marketing is how one should go about picking the right strategy to implement in a given set of circumstances. With so many to choose from, it is easy to get stuck with choice paralysis. To add insult to injury, picking the wrong strategy can be quite detrimental to business growth. Customers that feel they have been misled by marketing will quickly abandon your company in favor of your competitors.
This situation has prompted us to try and shed some light on the current state of affairs in the world of marketing. We felt that the best way to approach the subject was by means of a guide. Specifically, we have opted to provide an overview of the 7 most commonly used marketing strategies in 2018, focusing on their impact on business growth. Keep on reading to find out more.
Social Media Marketing
Historically speaking, social networks have only been around for a short while, but their impact on society at large has been substantial. They have changed how people interact online in a fundamental way, giving marketers ample opportunity to try out different new approaches. Nowadays, social media marketing is a whole industry of its own, and its influence can be felt all over the web.
Adding elements of social media marketing to your overall marketing strategy is crucial for driving growth. The greatest thing social media marketing has to offer to businesses is an enormous pool of potential clients and customers. No matter which particular social media marketing strategy you choose to employ, you stand to gain a significant boost in terms of traffic and brand awareness.
BloggingAnother online trend to watch out for is blogging. The development of web-based technologies in recent decades has democratized the art of website creation, giving consumers the tools they need to create their own web pages with little to no effort. Companies were quick to seize on these tools as well, and so the modern blogosphere was born.
Unlike social networks, blogs were especially conducive for publishing long-form content, which gave marketers another vehicle for delivering promotional material. To leverage blogging to your advantage, you first need to set up a company blog and then follow it up with a regular content schedule. If consumers find your content to be valuable, they will be more than likely to engage with your business in the future, therefore giving you another means of expanding your audience and growing your business.
Video content has exploded in popularity in recent years, thanks to services like YouTube, Vimeo, Vine, and others. Once they were given the opportunity to upload videos to the web, at no extra charge, online denizens quickly started churning out massive amounts of content. Amazingly enough, no matter how much video material is uploaded, the audience always seems to want more. Enter video marketing.
After realizing that the demand for video is not likely to subside, marketers started working on the content of their own. Video has a much higher engagement rate than other forms of content, so it was a natural fit for businesses chasing growth through online means. When creating a video marketing campaign, you can either create your own content, buy some that are available online from a stock content website like Shutterstock, or order something custom from specialized companies.
The rising popularity of social networks, blogs, and video sharing sites has led to the emergence of a new kind of celebrity – the online influencer. These are individuals who use the aforementioned services as a platform to voice their opinions on particular topics. Influencers can gather quite a following over time, making them ideal targets for spreading the word about your business.
Some influencers are willing to enter into explicit sponsorship deals with companies, acting as their mouthpieces for a set period of time. Others are willing to give your company a shout-out if you offer them incentives such as event invites or product demos. Others yet might promote your business of their own accord if they like you enough.
With so much talk about digital marketing which is one of the marketing strategy, you would think that traditional forms of marketing have all but disappeared. Things couldn’t be further from the truth though. In fact, television, radio, and newspapers are still a part of the media diet of many people. Neglecting to use them for marketing purposes is a huge missed opportunity, as they offer a means of acquiring audiences you can’t get in any other way.
If you have a service-based business with a physical location, running ads on a local TV station can bump your customer numbers quite a bit, especially if you are based in a larger city. The same goes for the radio, and it will likely cost you even less. Finally, newspaper ads can be employed to squeeze those extra few stragglers that are keeping the print industry alive.
While many people are turning towards digital media for their entertainment and information needs, they are still living in a material world. They travel to work, eat at restaurants, buy everyday products, and each of these daily events is an opportunity to try and influence them through marketing.
This is commonly accomplished by distributing various branded merchandise. Business cards, various forms of leaflets, office supplies, and other items can be used as a canvas to put your logo on. On a larger scale, branded banners, billboards, vehicle ads can be used to promote your brand even further.
Finally, there is the option of talking to people in person. Nothing quite matches the seductive power of a sales pitch delivered by an expert marketer, so it’s a shame that this form of marketing has fallen by the wayside a bit. While it may be impractical to tour the country giving speeches about your company’s products and services, it can still pay off really well to hold a conference or two at opportune moments.
Trade shows, fairs, and other industry events are places where a live keynote speech can have the most impact. Look for them in your local area, and if you are feeling adventurous, reserve a stand on the show floor of a larger, national-level gathering.
Implementing any of the aforementioned marketing strategies has been proven to be conducive for business growth time and time again. 2018 is well on its way, so give them a try while they are still effective. Who knows what awaits us in the future in terms of marketing.
Michael Deane works for Printroom, and spends most of his days on the web, looking for the next great marketing tactic. His main passion is content marketing, and you can often find him typing on his phone, writing an outline for his newest piece.