By Kara Masterson
A good marketing strategy must be coherent, and a process that has been agreed upon aimed at increasing revenue, as well as the market share. From a broader perspective, a marketing strategy is defined as a set of actions that facilitate the achievement of organizational goals. An effective marketing strategy should contain several important elements.
The top three marketing strategy’s components include:
- The target customer
- A way of reaching the target customers
- A proposed strategy to retain customers
Other components include unique selling points, pricing and positioning, referral strategy, promotion and offers, content, conversion strategy and financial projections among others. This article provides a highlight of four important marketing strategies that firms should consider embracing to stay firmly on the map.
Social Media Marketing Strategy
Marketing experts will tell you that we live in an era dominated by social media, and businesses should make maximum use of it to enhance performance and growth. Social media gives companies a platform through which they can connect with the people in their niches such as existing customers and prospects. It helps in the construction of formidable relationships as well as networking – rather than selling – although selling happens in the end. Organizations such as ACN even use sources like YouTube to reach out to their audience. By doing things like this you can reap tremendous benefits just by getting your name out there.
The brick and mortar store owners can use social media to reach out a larger audience on the internet. Having a physical store should not limit you from establishing a stable presence on the internet. Have in place an interactive and routinely updated blog or website, and social profiles on sites such as Facebook and Twitter. Active participation on social networking sites increases brand awareness, boosts the search engine ranking of the company, and most importantly, it is enough proof that your organization is on par with the current times.
Content Marketing Strategy
Content is still king even in 2017. There are still tons of different benefits of content marketing that you may not be aware of. Content could be articles, infographics, video or any other information with the potential to tell your target audience something they are not aware about your product. The real deal is the ability of a company to create fresh content that keeps the readers engaged and thrilled. Make the content relevant and remember the content areas too. These areas should do two things – attract users, and make your business appear as an expert in the identified areas.
Web Marketing Strategy
A web presence goes beyond designing a website, to include how people find you, and what they find whenever they get hold of you. However, you must be found for good stuff only – or at least most of the time. Luckily when it comes to things like this there are lots of web marketing guides and tips that you can find online. Your website should be keyword optimized in line with what your business does and its location. Take part in trade associations, enter business award competitions, and build an email list to make use of auto responders, have a YouTube channel and host educational events to increase your web visibility. Apart from email marketing, consider pay per click and Google AdWords.
Public Relation Marketing Strategy
This strategy is highly effective in fueling successful content marketing. Most of the big and small brands that are doing so well usually collaborate with influencers. It pays, to have someone who has influence in the society tell other people why he or she loves your brand. Make maximum use of blogs to get your company in front of the eyeballs of your target market. Replace ads with relevant content. The modern consumer has no time for viewing a catchy slogan on television or Internet. Of paramount importance is to understand the kind of content that your target market loves to engage in.
A well-defined marketing strategy is critical to the business because it sets a clear vision of the future of the company. It clarifies the goals, aims, and activities of the business. It goes a long way in helping a firm maximize the available resources. The above strategies, if devised appropriately, can give your business a competitive edge.
Kara Masterson is a freelance writer from Utah. She enjoys tennis and spending time with her family.