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6 Types of Marketing Strategies to Consider for Your Business

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Marketing Strategy

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.

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Affiliate Marketing

Amazon vs Clickbank: Which is Better for Marketers?

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Amazon vs Clickbank which is better

When it comes to marketing your products or becoming an affiliate marketer, getting the right platform is something that is absolutely essential. Fortunately, there are a number of different platforms which you can use to promote your – or someone else’s – products, and two of the most popular platforms include Amazon and Clickbank. Both of these platforms offer benefits and drawbacks, and understanding these will allow you to choose the platform that offers the best service for your needs.

How Does Affiliate Marketing Work?

Regardless of the platform that you choose for your affiliate marketing, the general concept of doing so will be the same. For product sellers looking to sell their products, affiliate marketing works by generating leads which in turn will hopefully result in more sales of the product. For affiliate marketers, promoting these products will result in a small commission being paid to the affiliate marketer when a customer makes a purchase as a result of their promotion of the product, generating an income passively – for affiliate marketers who get their strategy for marketing right, this can give some impressive profits for sure!

Amazon: The Pros and Cons

The most obvious affiliate marketing platform that you might want to consider getting involved with is the Amazon platform. What with Amazon being one of the biggest, if not the biggest, selling sites online, and with over 150 million members using the website on a monthly basis – far outstripping even Walmart’s online site, which sees only a ‘meagre’ 75 million users per month or so – it is easy to assume that Amazon is the best place to get involved with affiliate marketing, but is this the case? Is Amazon Affiliate a good choice of affiliate marketing platform for you to choose?

Amazon Affiliates has over 1 million members in the database and, after Adwords, it can be said that Amazon Affiliates is the second most popular online advertising platform for website owners – showing just how many people put their faith in this website when it comes to their affiliate marketing.

Benefits of Amazon Affiliate

Amazon Affiliate is, as the name would suggest, hosted by Amazon, and this makes it a great choice of affiliate marketing site to get involved with for trust and reliability purposes; furthermore, this also helps to improve the conversion rate of the platform when compared to other affiliate platforms. Furthermore, there are a huge number of products available for affiliate marketers to consider and this can potentially allow for an unlimited income stream! Signing up with Amazon Affiliates is also free.

Drawbacks of Amazon Affiliate

Amazon Affiliate is a hugely popular affiliate marketing platform and for already registered users, it can be a great choice of platform – however, new users will need to refer customers to 3 sales before their account will get fully approved and reviewed, which can be a drawback if you’ve never used the platform before. Furthermore, for new users, the commission rate can be lower than for some other affiliate platforms at just 4% ; as you progress through your career as an affiliate marketer, though, this is likely to increase as you get more referrals under your belt and prove your worth as an affiliate marketer to the team and platform.

Clickbank: The Pros and Cons

Clickbank is an alternative to Amazon Affiliates which you may wish to consider when looking at the best affiliate marketing sites. Though it might not be quite as big as Amazon – by a long shot, actually – Clickbank is still a hugely popular choice of affiliate marketing site, if it’s 6 million worldwide clients and 30,000 daily transactions are anything to go by, and it is even in the list of the top 100 internet retailers for North America. Clickbank sells both physical and digital products on its site and its reputation could make it a good choice for someone looking to get involved with Affiliate marketing.

Benefits of Clickbank

There are a number of different benefits that could make Clickbank the choice of Affiliate Marketing platform that is right for you. The site is free to sign up with and you can begin using it immediately, in comparison to Amazon Affiliates where you will need to get 3 approved sales leads before being able to fully engage with the site. Moreover, they also offer a good selection of products for affiliate marketers – although not nearly as many as Amazon Affiliate will offer – which can make the potential income through the site look good. However, the most notable benefit of choosing Clickbank is for its ridiculously generous commission rates; some products can see commissions of 50% or more on their value, making this a potentially great source of income if you can target the right products!

Drawbacks of Clickbank

There are a number of drawbacks with the Clickbank platform which might make it a less positive choice than it originally sounds. Indeed, though there are some incredible commission rates to be found on the site, you’ll need to do your research to make sure you also avoid the low-quality offers that are hosted on the platform too in order to make proper cash! Furthermore, the refund rates can be higher than for normal networks – which can mean a lot of your income may end up having to be paid back if the product is refunded – and the site only provides its users with very basic reports, too, which may make it harder for you to optimize your earning.

Final Thoughts

Both Amazon Affiliate and Clickbank offer notable pros and cons, and as an affiliate marketer, you need to know how to sort through these benefits and drawbacks to choose the platform that is right for you. Therefore, it is imperative that you do your research before deciding whether Clickbank or Amazon Affiliate marketing is the right choice for you to follow – but, it should be noted, if you get this right, there could be great profits available as a result of commission fees for your effort.

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Marketing

Best Tips for a Successful Google Ads Campaign

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Best Tips for a Successful Google Ads Campaign

To run a successful Google Ads campaign, you will need an advertising budget, but you won’t necessarily have to spend a lot of money on it. With the right pay-per-click strategy and effective tools, it is possible to increase your website’s metrics effectively.

More to it, if your business cannot afford a big advertising budget, you will need an even better strategy because every dime counts. You want to make sure you invest your small budget right.

Therefore today, we will share a list of the best tips for a successful Google Ads campaign. These tips will help increase your campaign’s efficiency, even if you don’t have a big budget.

Tip #1: Choose the Best Keywords

To begin with, make sure you use the best keywords for your future ad campaign. Ensure you use both generic and narrow ones. Generic keywords will bring more traffic to your website, although it may not give you many conversions. 

At the same time, if you use both types of keywords, narrow ones won’t bring you the most traffic, but they will offer a higher number of conversions. If you find yourself having trouble choosing the best keywords for your ad campaign, you can use a specialized keyword tool for Google Ads to find the most relevant ones.

Tip #2: Be Specific About Your Goals

A very important element of a search engine marketing campaign is setting specific goals for separate ad campaigns. Your business’s purpose could be increasing brand awareness if your business is new or lacks recognition in the market. Also, the goal could be increasing traffic to your website and boosting the number of conversions. 

Just make sure that you don’t plan multiple goals for a single ad campaign because not focusing on a specific purpose will make it difficult to measure important metrics. Also, focusing on various goals at the same time will extend the term of reaching the objective.

Tip #3: Think About Your Target Audience

Before you write an ad copy and launch the ad campaign, determine who your target audience is. The target audience may differ regarding age, gender, income, geographical location, and interests.

Narrowing down your audience will help you attract your potential customers, interest them, and motivate them to take action.

Tip #4: Meet the Expectations of the Potential Customers

Best Tips for a Successful Google Ads Campaign

Your ad copy must be not only relevant but also accurate and not misleading. In other words, writing a good copy is only the first step. And a good copy is not the one that sounds good and seems intriguing, but the one that meets the expectations it creates.

Make sure that after a potential customer clicks on your ad, the person is not misled when the landing page is reached. The landing page should display the content that the ad represents. Also, the page should be functional and easy to use. If any of these factors are unfulfilled, your Quality Score may suffer because the visitors will leave your website instead of converting.

Tip #5: Do Not Forget Mobile

Even if many people are still making their purchases using the desktop version, the number of mobile shoppers is constantly growing. As we live in times when people use their smartphones a lot, people tend to do different tasks using their mobile phones, including shopping.

When you use ad extensions, do not miss out on the app extension. This one will allow your potential customers to download an app by clicking on the ad. And if your business has an app that increases engagement, it’s a good idea to promote it on Google Ads.

Tip #6: Take Advantage of Negative Keywords

If you have chosen to use the pay-per-click method, you should use negative keywords for your ad campaign. If you are using both generic and narrow ones, the generic ones may lead you to losses over unprofitable clicks. 

For example, if you are selling food supplements and you use such generic keywords as “food supplements,” you may mislead the people who search for vegan ones. So if you are not offering vegan food supplements, just exclude the word “vegan” by making it a negative keyword.

Tip #7: Keep Testing

Once you have your goals set, remember to keep testing different elements of ad campaigns. The smallest change in ad copy or keywords can affect the increase of conversions. 

Surely, a change that you will make may decrease the number of conversions too, but you’ll learn what works and what doesn’t by testing different strategies. Also, when you write an ad copy, write at least a few slightly different versions of it so you can choose the best performing one.

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Big Data

5 ways Big Data can add to Digital Marketing

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how big data help in digital marketing

Long gone are the days when marketing success would be heavily dependent on subjectivity, intuition and huge promotion budgets pushing out marketing messages in your face at all possible touch points. It is a completely different ball game today, and it wouldn’t be wrong to say that marketing as a whole has evolved towards being a completely customer-centric and data-driven activity today; and the most effective strategies, irrespective of industry verticals, aim to deliver personalized customer experiences. This has been possible only due to the advent of big data, to gain valuable insights into customer preferences.

So, what really is big data?

Most organizations today have systems in place to capture and store massive data points from their all their customer interactions from research, sales and marketing. This data can be structured, semi structured or unstructured and will likely continue to increase in size. It can get overwhelming to make sense of this increasingly dynamic information. Big data is a means to analyze and extract valuable information from these complex and interlinked sets of data, and observe patterns that can help guide decision making.

Put simply, big data is a means of processing large volumes of complex data sets to derive actionable insights. Given that the world is going digital, there is already much rich data available from earlier marketing activities, consumer behavior tracking, other databases and research, and it is now possible to paint an accurate picture for almost each consumer and create predictive models for future interactions. This could be used throughout the sales funnel, right from identifying the right consumer, to product design, marketing communication, demand forecasting as well as customer retention.

How can integrating big data into your digital marketing efforts help?

In today’s fragmented marketing landscape, one of the biggest challenges that marketers face is to engage with the right consumers at the right time with the right message. Here is where big data comes in – big data can not only help us understand customers better, it can also help us develop better strategies that are sure to give your business a competitive edge.

Being able to understand and predict consumer behavior accurately using various data based insights can indeed open up a whole new world of opportunities.  Here are some of the ways you could use big data to bolster your digital marketing efforts:

  1. Data Visualization

Big Data makes it possible to make sense of the data, helping marketers recognize patterns, trends and problems, using different types of visual representation. This provides an easier way to understand what the data wants to say, and the different ways in which the data can be interlinked to mine new insights. Think of your social media analytics charts, or even the charts that you can find in Google Analytics, both of which are great examples of big data visualization.

  • Consumer Insights

One of the key ways organizations can stay ahead of competition is by mining accurate consumer insights, and leveraging them in their business and marketing strategy. Why settle for ambiguous demographic and psychographic segmentation when you can get richer data for each of your consumers? Data such as what your consumer likes and what products he prefers, what he thinks about your company and preferred distribution channels or modes of interaction, repurchase patterns and more, can help you paint an accurate picture about consumer sentiments, and tweak your marketing initiatives accordingly.

  • Predictive Analytics

Historical consumer data and current data can be combined to make fairly accurate predictions about their future behavior. For instance, which product are they more likely to buy and when, how much will they spend, which payment mode they will most likely use and so on. This could help you with forecasting demand for a specific product model in advance. You could also predict beforehand how your campaign might perform given certain parameters, or even when the demand curve for your product could go up or down. It is almost like having a looking glass into the future, which can help you segment and target your consumer groups accordingly, and design marketing initiatives that would better resonate with each segment.

  • Customize Consumer Interactions

Once you are able to access latent consumer insights, it will also be possible to create customized online interactions with almost any consumer, based on data from your past interactions with them. Not only will this increase relevance, it will also likely increase engagement and ROI as well. Product recommendations from ecommerce sites, video recommendations on YouTube and Netflix are a case in point. This doesn’t stop at product recommendations. You could even customize your marketing communication in real time, based on past consumer interactions. For instance, you could send personalized emails or text messages based on their past purchases, life cycle stage, demographics and their internet search history, how they have spent their time on your website or mobile app and for that matter, even their response to your past marketing campaigns.

  • Budget optimization

A thorough knowledge about whom to target, when to interact, what to say and where to say will make it easier to allocate your marketing budgets more effectively, and focus them on initiatives or consumer segments which are more likely to give you the results you want. This, when combined with data from which of your digital marketing channels are giving you higher CTRs and conversions is a recipe for success. Needless to say, this will also help to prevent budget spillage into areas by casting your marketing net too wide, or in the wrong sea! As you continue to use big data along with AI & ML, you will only get better at optimizing your marketing spends to a point where you will even be able to predict the results you can expect.

  • Campaign Evaluation

With specific metrics for each of your multiple campaigns, it will become much easier to measure campaign performance. Unlike the days of yore when it wasn’t possible to accurately attribute campaign results, big data visualization can help one see precisely the ROI on each campaign, including but not limited to increase in sales, how each channel has contributed and even changes in consumer sentiment. This can be used as a blueprint to plan your future marketing campaigns.

As we would all agree, big data is transforming how marketing is done today, as it takes the guesswork out of what digital marketing initiatives will work. I would go on to say that the contribution of big data can only be limited by our imagination, because from where we stand today, the possibilities are truly endless.

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