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Marketing Strategies

What Are Marketing Strategies?: Concepts, Types, and Practical Examples

Marketing strategies are one of the main aspects to work on in any company, since through strategies, we can define how business objectives are going to be achieved.

It is important to be clear that there are many types of marketing strategies, and to find the most suitable one for your company or business, you have to be open to the possibilities offered by the world and technology, adopt new ideas, test and experiment. So, choose the marketing strategies that work best for you and bring you closer to your target audience.

In this article, we’ll provide you with an idea of what marketing strategies are and how to implement the ones that work best for your business.

What are marketing strategies?

A marketing strategy is a plan that is designed to achieve business objectives and represents the set of actions that we will use to create sales opportunities. Through the marketing strategy we can communicate and position a company’s products or services.

To design marketing strategies, it is essential to take into consideration the objectives and resources that the company has. Additionally, analyzing the target audience with the help of market research allows companies to satisfy the needs and preferences of customers.

Another aspect that must be studied is that of competitors, so that the company has the possibility of designing certain marketing strategies, after observing which ones have worked or not worked for them and to what extent.

There are many strategies that are used daily by millions of companies; So many, that identifying which ones work best can be difficult and to make your research work easier, we created this article with the best marketing strategies you can implement.

Why is it important to design a marketing strategy?

Diseñar estrategias de marketing

Implementing a marketing strategy properly ensures that the company can meet its business goals.

Let’s look at some of the advantages and benefits of having marketing strategies:

  • Increase sales and maintain them on a recurring basis
  • You enable the growth of the company
  • You’ll understand what your ideal customers are looking for
  • You meet the needs and expectations of buyers
  • You’ll stand out from the competition
  • Make your brand, product or service visible.
  • Position your brand in the market
  • Improve return on investment
  • Optimize the phases of your sales funnel.
  • Reach new markets.

When planning a marketing strategy, you can be sure that when you make a purchase, it will no longer depend on luck, but on the parameters and indicators that you will observe and will be able to correct over time.

Types of Marketing Strategies

Depending on your company’s competitive position, the resources you have, and the goals set, there will be a number of strategies that will be much more effective than others. But, remember that they must all be integrated under the same objective.

Tipos de estrategias de marketing

1. Segmentation Strategies

The segmentation strategy is a process by which a homogeneous group of buyers is identified or taken, that is, we are going to divide the market into several submarkets or segments according to their different purchase desires or buyers’ requirements.

There is one thing that should be very clear with a marketing strategy, and that is that targeting the same audience with the same offer is a mistake. If we want to optimize marketing budgets, it is necessary to choose which customers we are going to target, in other words, divide the market into groups with similar characteristics and needs. In this way, we will be able to offer them a value proposition, product or service that adapts to each group or segment.

To make decisions about which market segment you want to target, you can choose from the following strategies:

Mass marketing strategy. The company does not direct its efforts towards a single market segment and does not recognize the different segments, but considers all of them as a single group with similar needs and designs a marketing program for a large number of buyers, relying on advertising or advertising media.

Differentiated marketing. This method is characterized by treating each consumer as if they were the only person in the market, the company goes through two or more segments and designs separate programs for each of them. They get higher sales and increase as a diversified line of products or services that are sold through different channels

Concentrated marketing. In this method, it is about obtaining a good market position in a few areas, that is, it seeks a larger share in a market; instead of looking for a smaller share in a large market.

One-to-one marketing. With this method, the company approaches consumers individually with specialized products or services. It’s a strategy that can work very well, but it can be the most expensive strategy of all.

2. Brand Positioning Strategies

Branding is an increasingly relevant topic and positioning your brand will help you capture more of consumers’ attention. As mentioned in this article, the consumer acquires a product or service with the purpose of satisfying a need, but it is worth mentioning that it does not consider the product on its own, but rather takes into account for its choice, a series of characteristics within which are the brand of your business or company.

To achieve a good brand positioning strategy, consider the following:

  • What your competitors are doing and how the customer perceives you compared to them.
  • What needs or wants customers have.
  • What is the differential of your product or service?
  • Who your customers or consumers are.
  • How you will be able to position your brand in the minds of consumers.
  • How affordable the prices of your products or services are compared to quality and competition.

3. Product Strategies

Product strategy is one of the most important within the marketing strategy, since products or services will fail if they do not meet the wants, needs, and expectations of consumers.

It is important for companies to develop careful marketing programs to create and reinforce the desired positioning, otherwise it will be the consumer himself who defines a positioning for our products or services.

Therefore, you must analyze which products or services are sold and which are not, which represent a return on investment or profit and decide which products or services will continue in the market according to the benefit they provide.

4. Portfolio Strategies

Not all products or services in our portfolio generate the same profitability, nor do they have the same growth potential. Therefore, you must analyze which products or services are sold or which are not and make strategic decisions about the product portfolio. In this way, we can prioritize the investment destined to the marketing strategy and the objectives we have set.

To make strategic decisions about the product portfolio, we must first decide whether we will work by products individually or grouping them by product lines or if the portfolio is very broad, consider working it by business units.

In this way, we can assess the ability of our products or services to compete against other options on the market. And on the other hand, analyze the attractiveness of the market in which the product or service operates.

5. Digital Marketing Strategies

Digital marketing strategies are those actions that position a company on the Internet or social networks. Nowadays, the vast majority of companies do digital marketing, something that until a few years ago was totally unknown or that almost no one practiced.

In this type of strategy we can develop the following actions:

Digital assets are those platforms that allow your brand, product or service to have a presence on the Internet. It’s important to understand that when you create a digital asset, whether it’s an online store or mobile app, you’re not guaranteeing that your consumers or potential customers will find you. Therefore, you must implement other tools to your marketing strategy to attract your consumers.

SEO

SEO is a strategy that is based on optimizing digital assets or websites and their pages, so that they appear in the top positions of Google and the main search engines. The traffic that we usually get in search engines is very good traffic, because it brings us closer to the people who are already looking for us, so the probability that those people will become customers is very high.

SEM

Search Engine Marketing. Generally, to apply marketing strategies through this tool, we use Google Ads, which is the fastest channel to connect with your customers.

Social Media

In the strategy for social networks we must carefully analyze what we should perhaps be doing and for this, let’s see, what would be those minimum steps so that our marketing strategy can have the results we really need. The main steps for a social media strategy to bring you closer to your target audience are:

  • Define the objectives
  • Analyze your competitors
  • Define the tone and personality with which you want to communicate
  • Define the social networks you’ll use
  • Implement growth and loyalty strategies
  • Identify sources or influencers
  • Create a Publishing Calendar
  • Customize your brand or business profile
  • Monitor and optimize the actions that are implemented

Social Media Guidelines

On the other hand, the social media guideline is the perfect complement to the previous point, where we focus on how to build, manage and grow social media communities to achieve organic results. In this marketing strategy, we are going to focus on social media advertising and how to attract the user through the main advertising platforms, in order to achieve results for the brand or company.

Some of the platforms you can use to advertise are:

  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • Pinterest
  • Snapchat
  • Tik Tok

Email marketing, WhatsApp and SMS

Email marketing, WhatsApp and SMS strategies can be useful for customer acquisition, but in general they are much more focused on customer loyalty. These are one of the direct communication channels that we have to connect with users and like any marketing strategy, if we do it well, it can be very effective.

As they are strategies that connect directly with the consumer, we must be more careful with this type of marketing strategy so as not to negatively affect the relationship with our customers or our prospects and so that this type of strategy continues to work for us.

Public Relations (PR)

PR strategies consist of the practice of molding and maintaining the image of a company, organization, or individual in the eyes of its target audience. Basically, it is a management of the image that we want to project of our companies on sites such as newspapers, magazines, newscasts, radio programs, blogs and influencers and so on.

How does PR help my company or business? The ways in which we benefit from this type of practice are many. Let’s look at some of the most relevant benefits.

  • Helps gain authority in the niche market
  • Build credibility
  • Increase brand exposure
  • Strengthens the brand’s social validation
  • Increase traffic to our digital assets
  • It helps us to get inbound links (Very important for SEO positioning)

Web Analytics

Web Analytics may not be a marketing strategy in itself, but it is one of the key and important elements of any strategy we implement, as it will allow us to measure each of the actions and efforts of our digital strategies.

CRMs

CRMs allow us to manage the relationship with your customers, they are basically the strategies we use to maintain and improve our relationship with existing customers or with potential customers.

CRM plays a fundamental role in the entire strategy of customer loyalty and retention. In addition, it will allow us to better manage or better approach those potential customers, leads or prospects that we acquire through our digital assets.

Automation

The world of automation allows us to optimize and streamline repetitive processes that can occur in marketing and other areas of the company. We invite you to explore and analyze what may be those processes that you need to automate within your company to improve performance.

Some automation processes that you could consider from the marketing area can be:

  • Email Automation Flows (Marketing Automation)
  • Automating flows in communication channels and multi-agent channels
Estrategias de marketing digital

6. Content Marketing Strategies

Content marketing is a technique based on the creation and distribution of content, relevant and valuable to attract, acquire and attract the attention of a well-defined audience, with the aim of driving them to be future customers. Generally, content marketing is reflected in our blogs, where we can publish:

  • Product or service information
  • Industry Trends
  • Conduct novel and innovative reviews
  • And educate the customer regarding the products or services we offer.

7. Direct Marketing Strategies

We have previously talked about email marketing and the reality is that in this type of strategy it becomes very important, because the communication is totally direct (Customer and Company) there are no intermediaries. Therefore, it is important that you adopt a personalized message to deal with your customers, in this way you will attract their attention and create closer bonds with buyers.

8. Word-of-mouth marketing strategies

This is one of the most desired strategies for any company, since it is the customer himself who is validating the brand and becomes an ambassador by referring us to other users or customers.

Guaranteeing the satisfaction of your customers, offering them a good service and a high quality product, together with excellent attention, allows us to have a high possibility that customers will recommend us to third parties.

9. Customer loyalty strategies.

Implementing loyalty strategies in all phases of the business helps us retain customers and prevent them from leaving with the competition. Also, if you know how to integrate With winning loyalty strategies, you’ll not only gain the trust and loyalty of your existing customers, but you’ll also attract new customers.

Establish close relationships with your customers, communicate and reward their loyalty with exclusive promotions and discounts or personalize the advertising you want to show them directly, whether in the digital or physical environment.

WiFi Marketing It is the omnichannel marketing tool specialized in building loyalty and attracting customers in commercial establishments. To build loyalty in the digital environment, you can also use a CRM.

Start implementing or improving your marketing strategies now. Plan, develop, and improve tactics to grow your business and position your products or services.

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