Take Away Tips For Marketers
Transparency and trust are paramount.
When you build relationships with consumers, you also build a band of brand loyalists that can become your most powerful source of word-of-mouth marketing, brand advocacy and brand guardianship.
Build your core and keep it as strong as possible before you try to extend your brand and branch out into new areas.
Make your brand, your business and your messages stand out by surrounding consumers with branded experiences and allowing them to choose which of those experiences they want to consume.
Obviously you require resources to fund your promotion but not all marketing tools break the bank.
Decide what funding can be used for marketing and promotion; decide the tactics you can afford that will do the job.
New prospects are needed to continue to grow your business as well as to replace customers you lose during the course of a year.
Marketing tools are constantly evolving and new and better marketing tools continue to be introduced.
Invest in additional marketing campaigns to drive incremental profits. Focus on marketing tools that assure you reach the marketing targets you have selected.
Online marketing tools can submit your original eBook, article, white paper, etc to hundreds of sites for publishing.
Marketing should not just be used to gain new customers, but also to keep your current customers up to date, helping to maintain your relationship with them
Campaigns should correspond to holidays or down times to capture more sales. Before you launch your first campaign, map out your email marketing plan for the whole year, advised Attia. “It doesn’t have to be very formal. Just map out how many emails you plan to send and determine the key moments in your business.”
Use tracking or analytics software to determine which email campaigns succeeded and which ones failed -- and use that information when crafting your next email campaign.
Types of Marketing Strategies
Every marketing strategy is unique, but if we abstract from the individualizing details, each can be reduced into a generic marketing strategy. There are a number of ways of categorizing these generic strategies. A brief description of the most common categorizing schemes is presented below. For a more detailed explanation, follow the links.
Strategies based on market dominance - In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are four types of market dominance strategies:
leader
challenger
follower
nicher
Porter generic strategies - Michael Porter assessed strategy on the dimensions of strategic scope and strategic strength. Strategic scope refers to the breadth of market penetration while strategic strength refers to the firm?s sustainable competitive advantage. He felt three types were important:
cost leadership
product differentiation
market segmentation
Innovation strategies - This deals with the firm?s rate of new product development and business model innovation. It asks whether the company is on the cutting edge of technology and business innovation. There are three types:
pioneers
close followers
late followers
Growth strategies - In this scheme we ask the question, ?How should the firm grow??. There are a number of different ways of answering that question, but the most common gives four answers:
horizontal integration
vertical integration
diversification (or conglomeration)
intensification
Aggressiveness strategies - This asks whether a firm should grow or not, and if so, how fast. One scheme divides strategies into:
building
holding
harvesting
A more detailed schemes uses the categories:
prospector
analyzer
defender
reactor
Warfare based strategies - This scheme draws parallels between marketing strategies and military strategies. There are many types of marketing warfare strategies, but they can be grouped into:
Offensive marketing warfare strategies
Defensive marketing warfare strategies
Flanking marketing warfare strategies
Guerrilla marketing warfare strategies
A good marketing strategy is beneficial to have complete insight about the tricks and techniques used in the plan. In this way, it becomes quite easy for the customers to reach the targeted audience. The marketing world is changing and thus it is important to adopt new and latest techniques to acquire great benefits. A well planned marketing strategy is really beneficial in finding the latest techniques and one can take help of internet for the same. In this way, the business owners will have good time to react with current market techniques and thus they can focus on the core subject through which the maximum profit can be grabbed.
Develop your own TV show on your specialty and present it to your local cable station or public broadcasting station.
Create a press kit and keep its contents current.
Use an answering machine or voice mail system to catch after-hours phone calls. Include basic information in your outgoing messages such as business hours, location, website, etc.
Join a Chamber of Commerce where you can network with area business owners.
Hold an open house. Invite prominent city officials and the press.
Get a memorable local or toll-free phone number.
Place ads in publications your market reads. Be sure to reach the non-English speaking market as well.
Distribute specialty products such as pens, mouse pads, or mugs with your store's logo.
Advertise in creative locations such as park benches, buses, and popular Web sites
Transparency and trust are paramount.
When you build relationships with consumers, you also build a band of brand loyalists that can become your most powerful source of word-of-mouth marketing, brand advocacy and brand guardianship.
Build your core and keep it as strong as possible before you try to extend your brand and branch out into new areas.
Make your brand, your business and your messages stand out by surrounding consumers with branded experiences and allowing them to choose which of those experiences they want to consume.
Obviously you require resources to fund your promotion but not all marketing tools break the bank.
Decide what funding can be used for marketing and promotion; decide the tactics you can afford that will do the job.
New prospects are needed to continue to grow your business as well as to replace customers you lose during the course of a year.
Marketing tools are constantly evolving and new and better marketing tools continue to be introduced.
Invest in additional marketing campaigns to drive incremental profits. Focus on marketing tools that assure you reach the marketing targets you have selected.
Online marketing tools can submit your original eBook, article, white paper, etc to hundreds of sites for publishing.
Marketing should not just be used to gain new customers, but also to keep your current customers up to date, helping to maintain your relationship with them
Campaigns should correspond to holidays or down times to capture more sales. Before you launch your first campaign, map out your email marketing plan for the whole year, advised Attia. “It doesn’t have to be very formal. Just map out how many emails you plan to send and determine the key moments in your business.”
Use tracking or analytics software to determine which email campaigns succeeded and which ones failed -- and use that information when crafting your next email campaign.
Types of Marketing Strategies
Every marketing strategy is unique, but if we abstract from the individualizing details, each can be reduced into a generic marketing strategy. There are a number of ways of categorizing these generic strategies. A brief description of the most common categorizing schemes is presented below. For a more detailed explanation, follow the links.
Strategies based on market dominance - In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are four types of market dominance strategies:
leader
challenger
follower
nicher
Porter generic strategies - Michael Porter assessed strategy on the dimensions of strategic scope and strategic strength. Strategic scope refers to the breadth of market penetration while strategic strength refers to the firm?s sustainable competitive advantage. He felt three types were important:
cost leadership
product differentiation
market segmentation
Innovation strategies - This deals with the firm?s rate of new product development and business model innovation. It asks whether the company is on the cutting edge of technology and business innovation. There are three types:
pioneers
close followers
late followers
Growth strategies - In this scheme we ask the question, ?How should the firm grow??. There are a number of different ways of answering that question, but the most common gives four answers:
horizontal integration
vertical integration
diversification (or conglomeration)
intensification
Aggressiveness strategies - This asks whether a firm should grow or not, and if so, how fast. One scheme divides strategies into:
building
holding
harvesting
A more detailed schemes uses the categories:
prospector
analyzer
defender
reactor
Warfare based strategies - This scheme draws parallels between marketing strategies and military strategies. There are many types of marketing warfare strategies, but they can be grouped into:
Offensive marketing warfare strategies
Defensive marketing warfare strategies
Flanking marketing warfare strategies
Guerrilla marketing warfare strategies
A good marketing strategy is beneficial to have complete insight about the tricks and techniques used in the plan. In this way, it becomes quite easy for the customers to reach the targeted audience. The marketing world is changing and thus it is important to adopt new and latest techniques to acquire great benefits. A well planned marketing strategy is really beneficial in finding the latest techniques and one can take help of internet for the same. In this way, the business owners will have good time to react with current market techniques and thus they can focus on the core subject through which the maximum profit can be grabbed.
Develop your own TV show on your specialty and present it to your local cable station or public broadcasting station.
Create a press kit and keep its contents current.
Use an answering machine or voice mail system to catch after-hours phone calls. Include basic information in your outgoing messages such as business hours, location, website, etc.
Join a Chamber of Commerce where you can network with area business owners.
Hold an open house. Invite prominent city officials and the press.
Get a memorable local or toll-free phone number.
Place ads in publications your market reads. Be sure to reach the non-English speaking market as well.
Distribute specialty products such as pens, mouse pads, or mugs with your store's logo.
Advertise in creative locations such as park benches, buses, and popular Web sites