Companies make use of marketing strategies to collaborate with their buyers. It is mainly used to make customers aware of features, benefits and specifications of each company’s services or products. It is basically dedicated to encouraging the targeted audience to buy products. Marketing strategies can be either new or existing ones. Given that there are different marketing approaches, you should select the most effective one as per your business requirements. Think about your business, check out the below marketing strategies, and make the right choice!
Cause Marketing
Many companies make use of cause marketing, but this approach goes unnoticed as the internet is changing everything. This type of marketing links a company’s products or services to a social issue or cause. For instance, one of the big brands which makes use of this form of marketing, is Starbucks. During the festive season, Starbucks donate 5p for every drink sold to a range of nominated charity, in partnership with Neighbourly.
Relationship Marketing
This form of marketing is mainly focused on building a relationship with customers. It is a facet of customer relationship management which enhances customer loyalty over a long period of time, rather than short time. One of the brands which make use of this approach is Bingo Extra. This online bingo site has an “Extra Club” for loyal member. Players are pampered by a VIP Manager and are given special perks when they reach the top ruby or emerald level. They are also given daily free spins to play top mobile slots at Bingo Extra.
Internet Marketing
Internet or online marketing refers to the use of web or emails to drive sales. This type of marketing is broken into different sub-categories like social media marketing, email marketing, SEO and web marketing. The products or services are advertised on different online platforms, and there are even sections to rate them. This marketing type is the latest one and is most used! The top brands which use this strategy are Bingo Extra, Coca-Cola and Walmart.
Word of Mouth Marketing
There are few companies which do not spend a penny on marketing and yet they are famous! This is because they make use of word of mouth marketing (WOMM). This traditional form of marketing is based solely on the impression that a company leaves on people. These companies focus more on providing quality services to customers, so that they promote the services. The main motto of this approach is ‘Being heard about is important in the business arena’. Chipotle, Netflix and Slash effectively make use of this marketing form.
Transactional Marketing
The most challenging sector of work is sales. And when it comes to large retailers, they make use of the transactional marketing approach. This technique helps them to increase their sales target. Retailers encourage customers to buy their products with shopping coupons, discounts or when there are special sales. It boosts up their sales and motivates the targeted audience to buy more at once. This approach emphasises on efficiency, individual sales rather than building a relationship.
