Marketing strategies are essential for any company, whatever the type of products or services it offers since they are a link in the value chain. Learn here what they are and how to implement the ones that go best with the business you run.
Not all organizations carry out market strategies in the same way. Just as there is a diversity of people, there is a multiplicity of brands, and each one of them has particular preferences and needs. Choose the ones that work best for you and take you to the right audience.
What are marketing strategies?
A marketing strategy is a style and method used to create sales opportunities. It serves to communicate and position the products and services of a company and translates into operational lines that allow reaching a target market through the appropriate channels.
A marketing strategy is made up of certain specific steps that are carried out to reach the same result: promote the brand and sell. His contemporary tendencies are inserted on the internet; Even so, advertising in flyers, newspapers, or magazines is still used.
Many strategies are used daily by millions of companies; so many that sometimes finding the one that works best can be difficult.
We created this manual with the best marketing strategies to make your research work easier.
Why is it important to have a marketing strategy?
Establishing an adequate marketing strategy represents great advantages for your company. Let’s look at some of its benefits:
You will sell more and constantly.
You will make possible the maintenance and growth of the company.
You will understand what your ideal clients are looking for.
You will meet the needs and exceed the expectations of buyers.
You will strengthen the relationship with the target market.
You will build the brand in the mind of the consumer.
You will stand out from the competition.
It will no longer depend on the luck that you make a purchase, but on parameters that you will observe and improve over time.
10 types of marketing strategies
Strategies concerning the competition.
Brand positioning strategies.
Market penetration strategies.
Portfolio or product elimination strategies.
Digital marketing strategies.
Content marketing strategies.
Word of mouth marketing strategy.
Direct marketing strategies.
Learn about the marketing strategy options so that you can integrate them, take elements of each one and create a tailored model.
1. Segmentation strategies
A segmentation strategy allows you to choose which customers you will reach. You can reach a massive, differentiated, concentrated audience or do one-to-one.
The mass marketing strategy seeks to appeal to the entire market, that is, to all possible customers (currently it is the least effective).
Differentiated marketing seeks to do the same as mass marketing, only by segmenting the market into different types of customers. For example, it divides the market into youth and adults and appeals to both groups, but in a different way. It is the strategy most used by large companies and multinationals.
In concentrated marketing, one of the market segments is chosen, which allows for a better concentration of campaign efforts. It is the most effective strategy for growing companies.
The one-to-one marketing strategy appeals to consumers individually with personalized products or services. This strategy works for any type of company, but it can be more expensive.
2. Strategies concerning the competition
This type of strategy focuses on the competitive aspect. The main thing is to define what is the position you occupy in the market compared to the competition.
If you are above the rivals, keep that position.
If you find yourself below the competition, scale your position.
If you are below, you can also stay there, in case fighting for a higher place backfires.
3. Brand positioning strategies
Position the brand to capture more attention. This way you will be the option to which consumers first approach.
To achieve a good brand positioning strategy, analyze:
What competitors do and how customers perceive you in comparison.
What do customers need?
What distinguishes what you offer?
Who consumes the brand?
How do you get the customer to recognize you?
How affordable the prices are compared to the quality and price of the competition.
These strategies seek for the company to grow so that you can offer more products in more places, without neglecting the real needs of customers. And, of course, without creating an oversupply.
You will also achieve this by reaching other markets, that is, by exploring other types of consumers and adapting products. You can also create new products aimed at the current market.
5. Portfolio or product elimination strategies
Will you achieve a better financial status by removing items from the portfolio?
Maybe you have products that you spend a lot of resources on, but the return on investment is minimal, zero, or even negative. Analyze which products or services are sold and which are not.
It examines the needs of customers and the social environment regarding the manufacturing processes and decides which products will remain on the market.
6. Digital marketing strategies
These are the strategies that position a company on the internet. Today most businesses do digital marketing, but a few years ago it was something that not everyone contemplated.
The following techniques can be applied:
Inbound marketing, to attract and convert customers organically through useful content.
The mailing is where you can establish a segmented communication.
Social media for posts to connect you with customers.
Web search engines so that you appear in the first options.
7. Content marketing strategies
They are also applied on the internet, but they are based on the writing of articles, infographics, and even ebooks. Content marketing is generally used in the form of a blog, where you can:
Post about trends in the industry.
Inform about the products.
Review what’s new.
Educate the customer about the products or services.
8. Loyalty strategies
These strategies will keep consumers. You will prevent them from going with the competition thanks to the creativity and excellent service, from sales to customer service.
Establish close relationships with the buyer, from social networks, exclusive promotions, and discounts, with loyalty cards, or by personalizing the advertising you send by email.
Remember that HubSpot CRM is the software specialized in customer loyalty.
9. Word of mouth marketing strategy
This is one of the most sought-after strategies by any agency or company since the client becomes an ambassador of the brand.
Give good service and offer high-quality products, along with excellent attention so that consumers recommend what you offer. Achieve it hand in hand with loyalty.
10. Direct Marketing Strategies
This is where mailing matters most because there are no intermediaries between the company and the client. You will speak to him, but not through a generic message, but personalized. The client values direct treatment, something that does not happen with massive advertising.
In this way, you will create closer ties with buyers.