A List of the Different Types of Marketing Strategies ( part 1/4 )
Marketing is a strategy used by companies to communicate with the consumer and make him knowledgeable about the various features of their products and services. It is an essential part of attracting the target buyers to a particular product, and companies use various innovative or tried-and-tested techniques to stay ahead of their competitors and make their place in the market.
Here are some of the most popular and effective types of marketing:
Affinity Marketing: Also known as Partnership Marketing, this technique links complementary brands, thereby creating strategic partnerships that benefit both companies. While one adds value to existing customers by generating more income, the other builds new customer relationships.
Alliance Marketing: Here two or more entities come together to pool in their resources to promote and sell a product or service, which will not only benefit their stakeholders, but also have a greater impact on the market.
Ambush Marketing: This strategy is used by advertisers to capitalize on and associated themselves with a specific event without the payment of any sponsorship fee, thereby bringing down the value of sponsorship. It has sub-categories like direct or predatory ambushing or indirect ambushing by association, to name a few.
Article Marketing: In industries where expertise is highly valued, articles can offer a powerful tool to showcase your knowledge and expertise. Some innovations are shared in the form of articles or white papers where technical information needs to be convey to specialized buyers. Amazon.com has dedicated part of their site for white papers on technical know-how on cloud computing. This is a very sophisticated form of marketing for specialized buyers.
Brand Lover Marketing: Brand Lover Marketing is a marketing concept that is intended to replace the idea of traditional brand marketing. Brands are running out of juice and Brand Lovers are what is needed to rescue brands. But what builds loyalty that goes beyond reason? What makes a truly great brand stand out? Brand Lovers bring brands to life. For a brand to elevate itself into the “Cult Brand” category, it has to give customers a feeling of belonging while generating strong feelings of love for its customers. Creating loyalty beyond reason requires emotional connections that generate the highest levels of love and a sense of belonging for your brand.
B2B Marketing: Business-to-business marketing is a marketing practice of individuals or organizations (including commercial businesses, governments, and other institutions). It allows businesses to sell products or services to other companies or organizations that in turn resell the same products or services, use them to augment their own products or services, or use them to support their internal operations. International Business Machines is a well known B2B marketer. IBM’s business has grown because taking a very intelligent approach at marketing their products to other business and governments around the world.
B2C Marketing: The ultimate goal of B2C marketing (business-to-consumer marketing) is to convert shoppers into buyers as aggressively and consistently as possible. B2C marketers employ merchandising activities like coupons, displays, store fronts (both real and online) and special offers to entice the target market to buy. B2C marketing campaigns are focused on a transaction, are shorter in duration, and need to capture the customer’s interest immediately. These campaigns often offer special deals, discounts, or vouchers that can be used both online and in the store.
Call to Action (CTA) Marketing: CTA is a part of inbound marketing used on websites in the form of a banner, text or graphic, where it is meant to prompt a person to click it and move into the conversion funnel, that is, from searching to navigating an online store to converting to a sale.
Cause Marketing: Finding a causes both your customers and your company cares about can create magic for your business. This requires internal knowledge about what your organization cares about and who they want to help in the world. A good example of this is Toms Shoes. Instead of doing the traditional “buy one get one free” promotion, Toms built a strong customer following and reputation for giving back by giving away a free pair of shoes to someone in need for every shoe purchase made by their customers.
Close Range Marketing (CRM): Also known as Proximity Marketing, CRM uses bluetooth technology or Wifi to promote their products and services to their customers at close proximity.
Cloud Marketing: This refers to the type of marketing that takes place on the internet, where all the marketing resources and assets are transferred online so that the respective parties can develop, modify, utilize and share them.
Community Marketing: This technique caters to the needs and requirements of the existing customers, as opposed to using resources to gather new consumers. This promotes loyalty and product satisfaction and also gives rise to word of mouth marketing among the community.
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