Types of Marketing Strategies and Definition
Marketing strategy is used by different companies to collaborate with their consumers. It is also employed to aware the customers about the features, specifications and benefits of company’s products. It is basically focused on encouraging target population to buy those specific products and services. The marketing strategies might be totally innovative or they can be previously tried or tested strategies.
There are different types of marketing strategies available. You have to pick one as per your business requirement. Before choosing the right marketing strategy for your business, consider following points.
1. Define the target population
Defining target population is main and necessary step in choosing your marketing strategy. It gives the proper demographics which help in selecting the most appropriate marketing plan for your business.
2. Test your audience
Create a hypothetical process of buying to test your audience. Once you know the buying behavior of your target audience, you can select more appropriate marketing strategy.
3. Consider marketing strategies
Once you know the demographics; their knowledge, attitudes and behaviors. You can select more appropriate marketing strategy.
4. Evaluate those strategies
Once you have considered the marketing strategies and found the applicable ones. Asses them, apply them and evaluate them. This process must be for testing purposes and the most suitable and productive strategy must be applied.
Types of marketing strategies
There are different types of marketing strategies available. Picking up a marketing strategy includes analyzing the needs of your business, your target audience and specifications of your products. The two main types of marketing strategy are:
- Business to business (B2B) marketing
- Business to consumer (B2C) marketing
10 Business-to-Business Marketing Strategies :
- Growth Hacking
- Referral Programs
- Earned Media and PR
- Networking Events
- Search Engine Marketing
- Retargeting
- Social Media Marketing
- Search Engine Optimization
- Content Marketing
- Inbound Marketing
10 Business-to-Consumer Marketing Strategies :
- Cause Marketing
- Direct Selling
- Cobranding and Affinity Marketing
- Earned Media/PR
- Point-of-Purchase Marketing (POP)
- Internet Marketing
- Paid Media Advertising
- Word of Mouth Advertising
- Social Networks and Viral Marketing
- Storytelling
Know more : Marketing Strategies
15 B2B Low Cost Lead Generation Strategies
Set your B2B marketing strategy around your buyers’ maturity
Every Strategy Requires an Effective Marketing Plan
Regardless of the strategy you choose, marketing effectiveness is most dependent on how you execute. Check out our complete guide to building an annual marketing plan—for businesses of any size—to get started.