For any successful business, the role of an effective marketing strategy cannot be overlooked. Businesses need marketing to make their product visible in the market, create loyalty, and make their presence felt.
Each business is different and so are customers. Your marketing strategy should be unique and targeted to the right audience to have the expected results.
It would be a waste of time and money if your strategy isn’t focused. Learn from experts like Alexei Orlov who stresses the need for marketing as a success strategy.
The different types of business strategies:
- B2C strategy
B2C is Business to Customer. This strategy helps businesses directly selling products to customers. Many sell through stores while many others have taken over to online platforms.
Your business must know the buying preferences of the consumer. This consumer-driven strategy can help a business in retaining customers.
- B2B strategy
This is Business to Business. This happens when the products of a business do not directly reach the consumer, but another business. For example; you produce one of the parts of a machine, then you will not be selling it directly. It will become raw material for another business.
Dealing with business is different from dealing with customers and requires a different approach. You have to devise a strategy to make businesses accept your product when there are other choices available.
- Marketing through employees
Sometimes your employees become your brand ambassadors. In many businesses employees are given the products of the company at a discount. They can promote your products by word of mouth to their friends and relatives.
Many potential consumers get to know about your product when your employee use them. You have a double advantage with this kind of marketing strategy. Your employees can promote your products and also become loyal to your business since they feel valued.
- Direct selling
This has been the age-old strategy. Meeting the customers face to face and selling the products create a close connection with the customers.
This can be done in stores or your representative can visit the houses of customers in person. This is possible for consumer goods. This approach of meeting the customers at their homes creates a positive impact which can help in increasing sales. The customers may also promote your products to their acquaintances.
- Internet marketing
Internet marketing is the present-day concept. Many people like to shop from the comfort of their homes. It is very easy and convenient to shop online. But your job doesn’t end with posting products. You have to make your presence on different social media platforms like Face book and Instagram, Pinterest. Selling through Instagram is the in thing now.
Identify their preferences and keep connected through promotional emails. This will help in generating and retaining customers.
- Point-of –purchase marketing
This type of strategy is done by drawing the attention of your customer. You place your products right at the point of purchase so that customers are attracted to buying them. For example, candies are placed near the cash counter so that kids are drawn towards it. At the time of billing the customer tends to make impulsive purchases of things placed near the counter.