Each strategy has distinct advantages. Therefore, you must know various marketing strategies well to be more effective in business.
What is a marketing strategy?
Before knowing more about various marketing strategies, you need to know the definition of a marketing strategy, often called a marketing strategy.
Marketing strategy is the whole effort of a business to reach target customers who are considered prospective, then turn them into regular customers for the services and products of a company.
Also read Advantages and Disadvantages of Penetration Pricing Strategy.
Marketing strategy vs. marketing plan
Apart from marketing strategy or marketing strategy, you can also find the term marketing plan. What’s the difference? The marketing plan is part of the marketing strategy, including detailed marketing activity documents and a schedule of marketing initiatives to be implemented.
Ideally, the marketing strategy should be long-term compared to the marketing plan. This is because the marketing strategy covers the big picture of the message. In contrast, the marketing plan describes the details of the needs to carry out the existing process.
To choose the most effective marketing strategies, companies must look at the most important aspects that support their business. Certain products may need to be marketed conventionally, but some products are more effective digitally promoted.
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12 Types of the most effective marketing strategy
To choose the most effective marketing strategies, companies must look at the most important aspects that support their business. Certain products may need to be marketed conventionally, but some products are more effective digitally promoted.
1. Paid advertising
In paid advertising, companies pay ad space providers to be able to display their products in that space. Negotiations between the marketer and the ad space provider usually determine the price paid.
Paid advertising consists of several categories: display or banner ads, pay-per-impression (PPI), and pay-per-click (PPC). This method is very effective for companies that want to get their name out to a broad audience.
2. Transactional marketing
One of the biggest challenges even significant companies face is meeting sales targets. However, a transactional marketing strategies was quite effective in overcoming this problem.
Companies that use this strategy can attract consumers through shopping coupons, discounts, promotions, and significant events. Finally, consumers are interested in buying more of the products offered.
3. Social media marketing
Currently, more than 2.8 billion people actively use social media. Social media marketing is also easy to use, cost-effective, and can target many targets, so various companies can implement this strategy.
Social media marketing focuses on using social networking sites or applications such as Facebook, Instagram, and the like. Since the scope is so broad, companies can quickly build a brand.
4. Interactive marketing
Interactive marketing strategy involves consumer participation in the marketing process itself. For example, a company may include a customer’s name or other customization on a limited edition product.
This method lets consumers get the latest product or service information. That way, consumer demand for the product or service will increase.
5. Content marketing
The next type of marketing strategy is content marketing. This strategy focuses on creating and distributing valuable, relevant, consistent content to attract consumers.
Instead of making direct offers, companies provide the information consumers need so that they are interested in a product.
Small or large companies can implement marketing through content. For the content created to be of high quality and able to attract consumer interest, companies must have competent content creators.
6. Search Engine Optimization (SEO)
SEO is obtaining traffic from organic, editorial, or free search results on search engines. This strategy is closely related to content marketing and even helps determine whether content can be said to be of high quality.
Content that meets SEO will occupy the top position in search results. If the content rises rapidly, the company will get high traffic. This can increase brand awareness so that the number of consumers also increases.
7. Earned media (public relations)
Earned media are publications that can be obtained easily, such as; social media testimonials, word of mouth, and talking about products on television or radio. I would like to point out that earned media is obtained for free or organically. Therefore, earned media can also be called “free media.”
8. Inbound marketing
Inbound marketing is a business strategy to attract consumers by creating valuable content and consumer-tailored experiences. Inbound marketing is to develop a business by building long-term relationships with consumers, potential customers, and customers. Thus, a product and service will continue with consumers in their every journey.
For an inbound marketing strategy, the message conveyed to consumers is very important because it must be relevant and precise, unlike marketing strategies that tend to be boring and distract consumers.
9. Telemarketing
This type of marketing strategies may be familiar to you. Even so, marketing by telemarketing is still considered adequate by some companies. This marketing uses the direct marketing method in which a salesperson offers products or services via telephone or web conferencing as agreed upon with the prospect. An example of a telemarketing marketing strategy is offering credit cards to customers or when a telecommunications company’s telemarketers offer postpaid SIM card services.
10. Email Marketing
Email marketing is a procedure carried out by marketers to achieve marketing goals by sending advertising emails to several customers or audiences who are the business’s target. Even though it is reasonably practical, you must pay attention to the right strategy in email marketing. The reason is that uninteresting titles and content and sending too often will make your email marketing not be opened, go to spam, or even be immediately deleted by the target audience.
Email marketing is commonly used in marketing strategies such as newsletters, press releases, and transactional emails.
11. Referral program
You may have often heard of this marketing strategies or have used it. The referral program is a strategy that needs the role of consumers and potential customers. That is, by encouraging them to tell people around them about a particular product or service.
Many large companies, such as lodging rental companies and Airbnb, have successfully implemented this marketing strategies. This startup managed to increase the number of bookings by 25% and continued to increase by 300% in application version 2.0.
12. Conversational marketing
As the name suggests, conversational marketing is a marketing strategies that relies on conversation. Conversations occur in real-time through various media such as chatbots or live chat. With this strategy, consumers or potential customers can directly get the information they want, ask questions and make transactions quickly. Conversational marketing will be very effective, especially for B2C businesses, because it will improve the quality of customer service and keep consumers in the buying flow.
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Marketing strategies help facilitate the process of promoting products and services. Companies can also get target consumers quickly to support business growth in the future. A company can choose more than one type of marketing strategies as long as all of these strategies work synergistically. By considering brand awareness, companies must ensure that their products and services follow the chosen marketing strategies.
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