According to the Bureau of Labor Statistics, half of all businesses fail within their first five years. Five years later, only around one-third of companies remain.
If you own a business, then you know how hard it is to set yourself apart from the rest. You should also know that the right marketing strategy can make all the difference in the world. So which ones should you try out?
Keep reading to learn about six types of marketing strategy that you can take advantage of for business success.
1. Traditional Marketing
What did people do before the internet? It’s hard to imagine, but that’s the type of brand promotion that traditional marketing refers to.
Traditional marketing includes outlets such as television ads, billboards, and print. The right traditional marketing strategy can be effective today, but most companies now use more modern methods. For example, Maid Marines (an NYC home cleaning company) is a great example to study for traditional marketing. Apart from digital marketing strategies, they have successfully used traditional marketing strategies for business growth.
2. Digital Marketing
The opposite of traditional marketing, digital marketing takes advantage of modern technology to reach large swathes of people.
As digital marketing is such a huge field, it includes many other subcategories, such as influencer marketing, voice marketing, and email marketing. Check out this link to learn more about Email Omnivore, a platform that can help you optimize the reach of your emails.
3. Search Engine Marketing
Search engine marketing is an important subcategory of digital marketing. It involves getting your business to appear as one of the top results when a user searches a keyword.
SEM includes SEO, or search engine optimization, as well as PPC, or pay-per-click advertising.
4. Social Media Marketing
Social media marketing involves using platforms such as Twitter, Facebook, and Instagram to advertise your business.
As no one opens up a social media app to buy something, you need to find ways to be innovative, publishing content that your audience likes. This also means understanding who your audience is.
5. Content Marketing
Another part of digital marketing, content marketing involves creating and distributing things such as blogs, eBooks, and visual content for your audience. This helps you get more hits when someone searches a related keyword.
When creating content, your goal is to make the customer experience easier. This means identifying customer concerns and resolving them.
6. Video Marketing
As the name suggests, video marketing is a type of content creation that relies on videos as the medium. Uploading videos to sites such as YouTube help draw in customers while resolving concerns.
Many of the sites used by content creators offer analytic tools, which help give you a better idea of who your audience is, as well as what they’re looking for.
Consider These Different Types of Marketing Strategy
To succeed in business, you need to be innovative and look for ways to set your company apart from the rest. By trying out some of the six types of marketing strategy mentioned in this guide, you’ll be able to attract new customers while retaining the ones you have.
Do you now have a better understanding of different marketing strategy examples? If you do, make sure to take a look at some of our other blog posts for more guides and tips on how to market your business.
How Start-Up Marketers Can Appeal to Millennial Spending Habits
Millennials are a unique demographic as they are the first generation to grow up with technology at their fingertips, as they are made up of people born between 1981 and 1997. Millennials also tend to put off marriage and instead focus on buying homes, building credit, paying off student loans. They also have a huge impact on the global economy and business operations as a whole.
While the average millennial spends $47,256 annually, there is a disparity in how they went about online shopping during the pandemic. Remote working millennial men spent more online shopping than their female counterparts.
Another difference in their shopping habits is that 83% of millennials wanted the brands they purchase from to align with their beliefs and values.
Millennial Spending Habits and Marketing
A significant contributor to millennial consumer behavior is the societal changes they have experienced in life. That being said, the products that they love are often ones that have the most value, quality and image enhancement. 2020 showed that Generation Y felt brand intimacy with these top brands:
Factors that Contribute to Millennial Spending
One thing that is extremely important to this demographic is making a positive societal impact with their purchase. Social media is also another powerful force when it comes to guaging corporate social responsibility as well as influencing their peers about their purchasing decisions.
How to Market to Millennials
As a marketer, there are quite a few items to keep in mind when creating your strategy based on the millennial audience. Consider these suggestions when creating your marketing strategy towards millennials:
- Highlight Environmental Impact. 47% of millennials have educated themselves on the environmental impact brands have. This makes it even more important to market your products with inclusions of fair wages and eco-friendly production.
- Take Advantage of Different Marketing Channels. One form of marketing isn’t enough these days: varied marketing formats like videos or blogs provide top- and middle- funnel content, as opposed to bottom-funnel transactional content that doesn’t necessarily appeal to millennials.
- Show Them What’s In It For Them. Whether its free delivery or an easy return policy, millennials have a wide array of companies, products and services to choose from. Making it worth their while with extra perks will have your customers coming back again and again.
A Business Owner’s Guide to Integrated Marketing
Marketers face a dozen different challenges in today’s business world. Consumers turn to different platforms and types of media to consume information.
If you’re a marketer and you miss one of these platforms, you miss out on expanding your customer base. You also have to keep the brand experience consistent across the different marketing channels.
Marketers overcome these challenges by implementing integrated marketing campaigns. These types of campaigns have improved effectiveness by 57% over standard marketing campaigns.
What is integrated marketing? Keep reading to find out what integrated marketing is and how you can create a complete marketing campaign.
What Is Integrated Marketing?
Integrated marketing is a method of marketing that ties together the dozens of marketing channels to create a clear and consistent marketing campaign.
What usually happens to a business is that they do very well on one marketing channel. For this example, we’ll say Facebook. They try to expand their marketing to Instagram, but it doesn’t go very well.
That’s because the business just reposts the same exact content on both channels without regard to the audience. People are on Facebook and Instagram for different reasons. If you don’t take that into account, then your content will fall flat with users.
Integrated marketing campaigns give your brand consistent messaging to give consumers the same experience. It’s also flexible enough to tailor content for each marketing channel.
The best integrated marketing campaigns cross-promote the different marketing channels, so your followers can follow you throughout the web.
Benefits of Integrated Marketing
Is integrated marketing worth it? Integrated marketing solutions are more effective. That alone should make it worth it.
Some of the other benefits of integrated marketing will shine a light as to why these campaigns are so effective. For example, when you have an integrated marketing campaign, you give your brand more chances to get seen. That keeps your brand top of mind.
The more consumers see your brand, the more likely it will inspire trust and loyalty with your company.
Another reason why integrated marketing campaigns work is that they’re cost-effective. You can make minor adjustments to your marketing collateral rather than recreate the wheel with every post.
How to Create an Integrated Marketing Strategy
Do you see why an integrated marketing campaign makes so much sense for your business? They save your business money and make money at the same time.
How can you take these insights and apply integrated marketing to your own business? These are the steps to create an integrated marketing strategy.
Create Marketing Goals
You’re about to invest a considerable amount of time in an integrated marketing campaign. You should decide what you want the integrated campaign to do for your business.
Perhaps you want to promote a new product or service. You might want to increase brand awareness or drive more traffic to your website.
Write down the 1-2 most important goals for your campaign.
Map the Brand Experience
The brand experience is every single touchpoint a customer has with your company.
For example, you get direct mail pieces printed and mailed to people in the Chicago area. The direct mail campaign directs people to the website. You also have social media posts that direct people to your website.
Once they purchase, they may interact with your customer service team.
All of these things will help you figure out the steps you need to take to create your integrated marketing campaign. In the example above, you need to make sure you have a Chicago printing company print your mail pieces.
Keep the Experience Consistent
Consistency matters most in integrated marketing campaigns. There are two levels of consistency in your marketing campaign: the consistency in the amount of content you post and brand consistency.
Brand consistency is hard for many businesses to achieve because they don’t understand what the brand is. A brand is an emotion that people feel when they think about your company.
You want to convey that emotion with every piece of content. Take Nike as an example. The brand is that everyone is an athlete and Nike’s products help people reach their athletic potential.
Nike’s content can be categorized as aspirational. That is the one thing that is consistent in the company’s posts and commercials.
You need to think about what your brand stands for and what your main marketing messages are. Once you have your messaging down, you can then create content that supports the message.
You also need to keep visual consistency. Write up guidelines as to what colors should be used, fonts, and how the logo is used.
To help you create a consistent posting schedule, you can use a social media scheduling tool.
Break Down Data Silos
The one thing that you need to be aware of is that your business can still run in silos, even if you have an integrated marketing campaign.
That’s because you still have to turn to different platforms to manage content and analytics. If you have several people handle content marketing, you run the risk that they will get siloed.
The best way to break down these data silos is to invest in technology. There are great tools that help you manage content and data in one dashboard.
Some of these tools let you schedule content in advance.
Create a Successful Integrated Marketing Strategy
Your customers are diverse, and you want to serve them all at the highest level. The only way you can do that well is to run an integrated marketing campaign.
What is integrated marketing? It’s a way to develop the same marketing message and brand consistency that resonates with your audience. These campaigns are cost-effective and they get great results.
Do you need more marketing tips? Check out the Marketing section of this site.
How Can Video Marketing Help Your Business?
Trying to get the word out about your business in the modern era can be quite difficult. There’s more competition than ever before. While the internet has increased the ability of the average business to connect with consumers, it has also created a wall of noise that can be difficult to break through.
If you’re looking to find an effective way to get the word out about your enterprise, you might want to consider video marketing.
Video marketing has been shown time and time again to be highly effective at capturing the attention of consumers and bringing them to your door. Ready to learn more? Read on.
Search Engines Love Video
Whether we like it or not, the success of your business marketing online will rely a lot on how high Google and others tend to want to rank your website. Prioritizing SEO is important if you want to be sure word about your business is easy to find.
Luckily, Google has been increasing the amount of importance that video holds in their ranking system. Increasingly, the presence of video content on your website will help you climb the ranks of their results.
With a few videos in hand, you can build a formidable SEO strategy and see an increase in traffic to your online site.
Just take a look at the large audience of a platform like YouTube to see how much the modern consumer prefers video content over text content. Most people these days would rather watch a video to learn about a subject as compared to having to read about it.
This means that if you’re hoping to connect with consumers in an organic way, you might actually turn them away by sending them towards a wall of text. If most consumers prefer videos, it’s best to provide that for them.
Keeping your consumers happy is likely to produce better results for your business in the long run. Any video marketing agency is likely to tell you this.
Connect With Consumers
The real reason you’ll want to embrace the pivot to video? Customers simply respond better. A video is an immersive experience. Customers who watch video content tend to connect with and remember the information far more than what they read.
Part of this is just human nature. A human will naturally feel a greater connection to another human on screen talking to them than they will to a wall of text. This is why video marketing for business can be so powerful.
Videos are able to evoke emotions better than just about any other medium. The power of video really cannot be understated. The combination of voice, image, music, and more can combine to create something really compelling.
You can read on here if you’re interested in learning about the power of video and why it’s essential for today’s marketing efforts.
Importance of Video Marketing
It’s important for any business in the modern era to consider the power of video marketing. If you’re in the process of attempting to get the word out about your business, contacting a video marketing company might be your best bet.
Need more advertising advice and information? Keep scrolling our blog for more.
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