Marketing Strategy

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Digital marketing

A marketing strategy is needed for every business element that works to bring new products and services to the market and develop existing directions. The main objective of a marketing strategy is to develop customer relationships. It is responsible for identifying the benefits of a business proposal and communicating them to potential buyers.

Marketing strategy is found in all niches that involve communicating with customers, advertising a product, and increasing brand awareness. Next, we will look at the nuances of the concept and give an example of a working scheme that will allow you to bring the product to the level of fame predetermined by the company.

What is a marketing strategy?

Any company develops a promotion methodology for consistent and understandable business development, trying to find a “key” to the client’s mind. Having a marketing strategy and a well-developed traffic plan allows you to consistently:

  1. Identify what customers really need.
  2. Identify possible distinguishing features of a product or service.
  3. Develop a position on brand advertising and its benefits.
  4. Present your business on the market based on the needs and hopes of the audience.
  5. Turn potential customers into real ones.

A marketing strategy should consider the plans and desires of management and the risks, alternate directions of development, and the procedure for dealing with crises. It reflects the plans of the company and is the basis for further actions.

For a marketing strategy to work, you need to consider the social status of the potential audience, the company’s values, ​​and the main messages about the brand. You should also create a unique company. This will help responsible specialists constantly keep the goal in sight and not deviate from the planned course of its implementation.

Difference marketing strategy vs. marketing tactics

To correctly draw up a development plan for a company, it is imperative to separate strategy and tactics. We have already mentioned above that a marketing strategy is a certain action plan aimed at achieving a goal in the form of product promotion and the formation of a positive attitude about the brand.

The main word in this is the goal – because strategic thinking sets it up. But how exactly the specialists will achieve the set benchmark is called tactics. It usually includes three stages:

  1. Statement and analysis of the problem
  2. Developing a goal within the identified nuances
  3. Planning the actions necessary for a good result

In other words, tactics are part of a strategy that can be quite variable. It all depends on the current situation. For the same goal, tactics can often change and include different actions developed by the planning department.

In a high-quality marketing campaign, it is imperative to work out both strategy and tactics. Each step must be analyzed and weighed, including the emerging risks. As a result, you need to achieve a clear understanding and an integrated approach to implementing the task.

Important: By having an action plan in front of your eyes, you can really optimize your budget. The tactics can always be worked out deeply and some points of the program can be excluded, based on the established financial capabilities. Thus, strategy and tactics are inseparable and require considerable attention.

Type of marketing strategy

There are several basic types of strategies for promoting the products and services of different brands. However, before we name them, we will give a basic development guideline that can be tied to almost any type of strategy or tactic:

  1. Search for the target group: Work is carried out according to certain criteria, including age, gender, social status, and many other characteristics.
  2. Audience testing: Having developed a dataset targeting an audience, you can form a target group. Having studied it in real conditions, it will be possible to learn more about the expected buying behavior – and choose a plan to match it.
  3. Choosing the right strategy: Once you understand the demographics, needs, and behaviors of individual audience members, you can begin to select an appropriate implementation strategy. It is best to combine information into a single infographic and then, through brainstorming, come up with the best option that meets all of your needs.

Be sure to base your planning on the needs of your business. If this is a B2B segment, it will be necessary to attract companies to cooperate with you in completely different ways than would be necessary in the case of the B2C sphere.

Additionally, you will need to identify budgetary options – there are both paid and free promotion options available. The latter are effective in their way, but they are designed for a constant search for compromises and long-term planning. Paid strategies produce faster results, although they require certain material costs in advance.

In general, the strategic directions are offline and online, although more recently, they have been combined into a single complex. We will explain them further – modern trends can be quite varied in performance.

Offline marketing strategies

The essence of offline marketing is working outside the Internet space. That is, using the channels that were used in the “pre-Internet era.” Among the best strategy options, we highlight:

  1. Meetings and conferences: This is a rather costly strategy, which, moreover, requires a certain amount of fame in professional circles. For example, this is how network companies and large brands work, ones that need to build a reputation and visually demonstrate the benefits of a product.
  2. Distribution of printed materials: Many people underestimate flyers and business cards in the age of web mailing. First of all, this is contact with a potential client and the transfer of informative data. In addition to distribution on the streets, you can also invest information in parcels and correspondence, which increases your coverage.
  3. Calling customers: Calls are divided into “cold” and “hot” labels. “Cold” ones are more difficult to do even though they are an excellent method of reaching new clients. “Hot” calls involve working with an existing loyal base but produce slightly fewer results in attracting new customers.

These are just the basic strategies used in modern marketing. Whenever possible, we recommend conducting research and recruiting a potentially successful audience that will make the best impact.

Online marketing strategies

Online strategies are the same as offline options, with one exception – they adapt to digital promotion channels. You can choose from a variety of strategies, including:

  1. Search engine optimization. There is no direct impact on the client, but the site is higher in the search engine results. As a result, the website traffic increases and the number of potential customers increases – this is a definite plus for the business.
  2. Google Ads. In this case, the ad campaign is launched on a pay-per-click basis. This method allows you to test a product or service for sale quickly – a potential client searches for it in a search engine using keywords.
  3. Advertising order. Banners and promotional articles can be carried out with pay per click or number of impressions. In addition, advertising can be extended to initially loyal customers who showed interest in the product, but for some reason, did not complete the sale cycle.
  4. Email newsletter. They involve sending messages to targeted customers via email. The advantage of this format is the ability to include a large amount of information, including graphics.

Also, marketers use landing pages on social networks – they post high-quality and interesting content on the pages that attract the audience’s attention. These are cost-effective and effective strategies with long-term impact. They work well with offline methods.

Marketing strategy example

Illustrative examples should be used better to understand the merits and demerits of each strategy. We have collected several successful options from world-famous companies that can be safely recorded in the history of advertising:

  1. Nordstrom. The online store stands out for its extremely aggressive marketing strategy based on retargeting. If a user leaves a product in the shopping cart or leaves the site after spending a long time on it, the service will certainly use a series of reminders to return the customer to the website.
  2. Spotify. The online music service relies on a new user experience expressed in interface and functionality. For example, there is a mechanic for selecting music to suit the user’s mood. Artificial intelligence selects playlists for a specific listener.
  3. Sephora. The cosmetics brand has perfectly implemented the loyalty program, divided into three levels. To reach the highest stage, you need to spend relatively little ($1,000) over the entire shopping time. Another benefit is additional discounts that encourage shoppers to close deals.

These strategies combine offline and online components and are proving to be effective. Naturally, blind copying techniques may not have a good effect. But you can always learn new information about ways to increase your brand’s visibility and its product.

Conclusion

Marketing strategy is an important component of brand promotion. It requires the selection of an audience, its analysis, and the creation of unique content. A marketing strategy can exist in an online and offline environment, and it should also talk about the merits of all of the company’s products and services.

To achieve the maximum effect, it is necessary to involve specialists – they can track the work of the team and make important additions to the process. Only then will the marketing activities bring results that are truly beneficial for the brand.

Article by:
CEO Andrew Chornyy

CEO Plerdy — expert in SEO&CRO with over 11 years of experience.

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