What is Marketing Strategy: 7 Actionable Ways to Promote Your Business

What is marketing strategy should be understood as the most vital promotion strategy employed by small, medium and large businesses. To really gain online presence and create a trusted brand, you need a well-planned marketing promotion strategy.

The truth is, it helps your promotional channels to meet those audiences you want to reach, build want they want, and however, it allows you to connect with them. Your marketing strategy is a critical tool to helping you drive in more traffic and conversion.

In this post, you’ll get to know what kind of marketing strategy that’ll help you promote your business and what promotional strategy trends that to build upon.

In it also, you’ll grasp more insight on digital marketing strategies. All marketing strategies in this post is applies to great promotional tactics this year and beyond.

Before you go ahead to read this post, here’s a guide that comprehensively defines what marketing is.

Let the journey begin.

What Is Marketing Strategy?

A marketing strategy is a well-planned tactic to get people to know your business, generate conversion and increase your relationship with your customer, thereby creating a trusted brand and authority.

This marketing promotional strategy let you envisage ways to carry out your marketing strategy and campaign, where and when to implement your promotional plan and locating your targeted audience.

It’s very important that when you employ marketing strategy for business promotion, you must ensure that your intentions are getting to the right audiences. This is serious because, many digital marketers roll out heavy budget on business promotion very year and still get less in return.

The most difficult part to what is marketing strategy is the conversion of leads to costumer. This is because of the ineffective and unplanned marketing channels implemented, that has no resonating effect on the interest of the lead to help them convert.

Let’s quickly look at the functions of promotion strategy in marketing.

What are Functions of Promotion Strategy in Marketing?

Promotion is one of the vital tools to what marketing is especially when trying to create business awareness to your target audience. It’s a basic tool of marketing that helps business owners reach their market audience to enable them gain search visibility and persuade leads to covert and become loyal customers.

It also helps you as a business owner to connect with target audience, create a level ground to showcase your product and services, create interest from them, and persuade them to become loyal customers.

Let’s dive into the four main functions of promotion in marketing:

1.        Create Awareness  

Promotion strategy helps you create awareness of your product and services to your targetted audience. But for you to achieve this, you must first recognise your target market, campaign messages and your promotional strategies.

2.        Gaining of Interest

Having a well-planned content marketing strategy, you can gain the interest of your audience to your business. With this CMS, you can nurture leads, and distinguish yourself from your competitors.

3.        Generate Demand

When you make your services attractive and desirable, promotion can help instigate demand or request from your market and also help you build emotional connection with your leads.

4.        Encourages Conversion

Placing a CTA for your audience during promotion can aid engagement and conversion. These CTAs can be placed either on websites, search engine ads, advertising campaign or social media ads.

All these functions tells you what is marketing strategy and how it has contributed to most of the customers buying processes. Moreover, it will help you build and establish strong connection with your audience, it will also help you retain your customer for a longer time.

Now tell talk about the types of marketing strategy that can hlep you promote your business online.

Types of Marketing Promotion Strategies

There are various ways you can employ promotional marketing strategies. In this section, I’ll give the various promotional strategies available that will help you attract prospects and customers into the conversion process.

Now let look into various marketing strategy that will best suit your business, one after the other;

1.        Personal Marketing

This is a strategy in marketing where a salesperson interact with a prospect face-to-face and persuade him or her to buy a product and service. It’s more easy to build personal relationship with a client with this kind of marketing strategy. Example of this marketing strategy are sampling, sales meeting, telemarketing, door-to-door.

2.        Electronic Marketing 

This is a promotional strategy where you make use of paid ads to connect with large audience via electronic gadgets. The cost of this one-to-one marketing strategy is base on bidding. Examples of these promotional strategy are print ads, TV ads, Radio marketing and billboards advertising.

3.        Digital marketing 

This is the process of connecting your business with a highly-targeted audience via digital marketing channels. It has more chances to get quick feedback and retain customer relationships.
Examples of this kind of marketing strategy are Email marketing, direct mail, social media ads, SEM.

4.        Sales marketing 

This is the method of marketing where you run a short-term marketing ad to get your audience’s interest and persuade to convert or buy. With this kind of marketing strategy, you can get instant responses and engagement, but it has a disadvantage of not building a long-term relationship with the buyer. Examples are Contests, Black Friday, Cyber Monday, Discounted Coupons, Flash Sale.

5.        Public relations 

In this kind of promotional strategy, you can make available relevant copy using an excellent commercial illustration to develop and build a stronger client relationship, and handle both positive and negative comments from buyers.

Examples of this kind of marketing strategy are Newspaper or magazine articles, seminars, speeches.

Learn more about PR (Public Relations)

6.        B2B promotions 

Business to business promotions is another form of promotion strategy where you get to provide relevant materials/product and service that’ll be of benefits to other business. It centers on what others will benefit from your offers.

Examples of this kind of promotional strategy are trade shows, case studies, online courses.

7.        Word-of-mouth marketing 

This is the process whereby you get people motivated about your offers, raising their interest concerning your product and services. This kind of promotional strategy gets more leads because people tend to believe and trust close partners rather than a company’s marketer.

Examples of this kind of marketing strategy are Referral program, customer reviews, influencer marketing.

8.        Customer loyalty program 

A Customer loyalty program kind of promotional strategy, you tend to encourage your existing buyers to make regular purchases and keep them which brings you great returns in a long run.

Examples are Reward programs, referral incentives, etc.

Now that you’ve gotten what promotion strategy in marketing is and getting to know the part to play. Let’s dive into the importance of marketing strategy for businesses.

You’ve got what a marketing promotional strategy is and what you can do. Before we go any further, let me explain why it is critical for your business.

What Is Marketing Strategy & Why Is It So Important?

Promoting your business is the most critical procedure in the definition of marketing. This is because marketing centers on ways to attract and connect with the right audience that will benefit your business, it also helps to create product awareness and convince people to buy from you.

So, with an effective promotional strategy, you can drive people/prospects from the awareness phase into the action-taking phase. It also enables you to build a trusted brand, generate leads and establish a lasting relationship with those audiences you’ve targeted.

Related Article: Most common digital marketing mistakes and how to avoid them and 10 digital marketing strategies that will help you win.

Aside from the mentioned importance above, planning a marketing strategy will help you streamline your marketing expenses. This is because; you will only focus on the right audience rather than promoting your business to everyone out there.

This will even make your audience to stick to you more over your competitors. Having a very good and creative infographic, included in your marketing promotions, you could build an awesome name or brand that brings more benefits to your business just as word-of-mouth.

Benefits of a promotion strategy in marketing

A marketing strategy will be a guide for your advertising and will have an immense effect on the buyer’s decision-making course of action.

Key Benefits of a Promotional Strategy:

1. Targeting the exact audience
2. Getting brand awareness
3. Attracting leads and customers
4. Letting you publish your ads at the most appropriate time
5. Help you Increase relevant customer traffic
6. Distinguished you from competitors
7. Letting your customers get more value from your offers
8. Engages your intentional audience
9. Compel customer decision making
10. Helping you locate would-be partnerships
11. Help you create and build customer relationships
12. Build and establishes your pedigrees
13. Gives you a better chance for word-of-mouth opportunities
14. Helps you stay in advance of the rivalry on market share
15. Increases Grow sales and profits

Therefore, the immense returns you’ll get from promoting your business using these marketing strategies are very big and it’s very crucial you don’t lose them! So, this is the more reason you must plan and craft a well-labelled promotion tactics for your business’s success.

One hard truth is, it’s impossible to attain success without understanding what is marketing strategy and implementing them, except by great chance – which is rare.

A well-structured strategy can channel your path to achieve your business goals and objectives – before I proceed, take some time to read ways to implement website strategies and goals for your small business for effective user experience.

Back to what we’re saying – a well-designed marketing strategy will not only improve your plan for effectiveness, but would help you to trace your errors when you encounter challenges.

At this juncture, let look at the trend which marketing will go in 2021 and beyond, this will make your business promotional strategy easier to implement – because you get to know which one suit your business.

7 Actionable Way to Market Your Business.

Getting to know these marketing trends and implementing them to your business will give you a boost over your competition and get you to stay ahead.

1.      Artificial intelligence (AI) 

When it comes to digital marketing, Artificial Intelligence (AI) allows you to;

1.         Foresee your customer intent and behavior,

2.         Create content that best suit your audience interest

3.         Personalize customer experience

4.         Help you manage your promotion and optimize your performance.

Read more about search engine optimization and website optimization.

With AI, you get your marketing strategy stats easily, study it and get more insight from it, and offer better solutions and results.
Get to read more about Artificial Intelligence.

Chatbot 

This is an automated chat robot that’s AI-powered that network with people using text or voice interface. Making use of chatbots in your marketing strategy enables you to offer 24hours a week and all year through customer service and increases customer satisfaction. To add it all, it saves you time and money.
Get to read more about Chatbot.

2.      Email marketing 

Email marketing remains the top channel to drive relevant traffic and make leads. Above all, creating customized emails is becoming a trending approach to get enhanced acknowledgment and engagement. It’s very important to focus on giving great customer experience and building relationships.

3.      Micro-influencer 

Influencer marketing has dominated the year 2020 and will still dominate in years to come. To benefit from it, you must pay attention to it. Social media micro-influencers have great impact on social media has a better effect than top influencers. Their followers believe that they (micro-influencers) make use of products or service in their posts without brand sponsorship or post ads.
Get to read more about Micro-Influencers.

4.      Mobile Ads 

Mobile advertising is the most trending tool used in most marketing campaign by any business for awareness, traffic and leads generation. This is because almost more than half of the online traffic from search engines comes from mobile devices. Messenger ads and in-app ads are the most common type of mobile advertising these days. They display ads which has more search visibility and better users experience engagement.

5.      Video contents 

Of all digital formats online in recent times, video content has the highest CTR (click-through-rate). Short videos and YouTube dominated the digital advertising on social media platforms all through 2020 and will still be very much relevant years to come. Video content engages people more than mere content. This is the reason more companies are pumping heavy budget into it just to promote their businesses.

Get to read more about Video Contents.

6.      Mobile coupons 

Mobile coupons are one of the oldest marketing strategy and a way to consumers’ buying decision process and also way to increase sales. Implementing mobile coupons to your promotional strategy will help you increase sales and also allow you get customers’ data quickly and analyze it for better approach. Read more about Mobile Coupons.

Final Take on What is Marketing Strategy.

With these marketing strategy trends, you can boost your online presence, build credible relationships and become an authority in your industry.

Now that you’ve known what marketing strategy is, its benefits and the trends that top notch – choose the one(s) that best blend with your business and boost your conversions and sales.

I look forward that these trends and information will be helpful when you skillfully plan your strategies. If this blog has given you an insight and helped you, help share to others for them to get informed as you just got.