Close Range Marketing (CRM)
Use Wifi or bluetooth to send promotional messages of their
products and services to their customers' smartphones and tablets at close
proximity. Close Range Marketing is also known as Proximity Marketing.
Relationship Marketing
Many companies focus on building relationships with their
customers instead of always exclusive trying to sell them something
(transactional marketing). Customers who love your brand more will also spend
more money with your brand. Many traditional retailers have found this to be
true. Walgreens has seen that customers who buy from all of their purchasing
channels (store, web, mobile, etc) buy up to six times more than the average
customer that only buys in their store.
Transactional Marketing
Driving sales can be challenging, especially for retailers
that have to consistently sell products in high volume to consumers. In order
to stay with the demands of investors, retailers have to encourage consumers to
buy using coupons, discounts, liquidations, and sales events. High volume
big-box retailers like Target are constantly running promotional events in
order to get interested consumers into their stores.
Scarcity Marketing
In some markets it’s important to control how much product
is available at one time. In many cases this is done because of the difficulty
of acquiring raw materials or higher quality of the product. A company may
choose to make their products accessible to only a few customers. Rolls-Royce’s
release of their Chinese edition car called Phantom sold quickly. While the
cost of the car was higher than most cars the scarcity drove the desire and the
price.
Word of Mouth Marketing
Word-of-mouth Marketing is the passing of information from
person to person by oral communication. Customers are very excited to share
with the world the brands they love. Many consumers find meaning in sharing
stories of their favorite products and services. Word of Mouth is one of the
ancient ways people learned about what to purchase. Modern marketers have
learned how to create authentic word of mouth for their companies and the
products they represent.
Call to Action (CTA) Marketing
CTA Marketing refers to methods of converting web traffic
into leads or sales on websites using text, graphics, or other elements of web
design. Conversion strategies help improve the percentage of online visitors
who become customers or who join the mailing list.
Viral Marketing
Cult Brand marketers are constantly creating new business
ideas that keep their products in the heart and minds of the global consumer.
Each time a new product is created, customers have to be given a reason to
dream about their future purchase. Sometimes marketers of Cult Brands hit on
something so great that people can’t help but share with others. Getting your
customers talking about your products and services is very important to growing
awareness for your business.
Diversity Marketing
Develop a customized marketing plan by analyzing different
customer segments based on cultural differences including tastes, expectations,
beliefs, world views, and specific needs.
Undercover Marketing
Sometimes not telling everyone everything can become a great
source of buzz. Think of a movie trailer that got you very excited to go see
the movie. While not showing all the aspects of the movie, the advertiser can
create enough intrigue to drive viewers to want to see more.
Mass Marketing
Major corporations need to drive large numbers of purchasing
of their products in order to survive and grow. While mass marketing may seem
like a shotgun approach to marketing this is far from the truth. Big businesses
spend big money in understanding big data--thats a lot of bigs!) This gives
them an insight to where to place media for their potential national customers
who buy their products and services. Walmart is an example of an effective mass
market retailer. As the number one retailer in the world, they are very smart
about their mass marketing efforts, often giving their customers a feeling of locality
and warmth.
Seasonal Marketing
Seasonal events offers a great way to meet new consumers.
Sometimes these events can be actual changes of weather or national holidays.
For a retailer like Hallmark, Valentine's Day represents a large portion of
their business. By tuning into the various seasons that are important to your
customers you can become more relevant in their lives.
PR Marketing
One of the most important marketing strategies is public
relations. Many effective marketers work with the media to bring awareness to
their products and the benefits their products offer. Also, in many cases where
things go wrong, a good PR marketing strategy is vital. When Apple’s founder
Steve Jobs was alive, Apple held a major press conference to announce every new
product. This tradition is now continued by their new Apple CEO and CMO.
Online Marketing
As commerce has propagated to the Internet, a new form of
marketing has emerged. From online banners to those annoying pop ups, online
marketers have attempted to get their customers attention any way they can.
Most online strategic marketing efforts today are a mix of growth hacking
strategies ( A/B testing taken to the max) and a variety of awareness tactics
that drive attention. A very effective online marketer is the insurance company
Geico who simply asks their users to enter their zip code for an instant quote
on a better savings.
Email Marketing
As soon as customers migrated into the online world,
Internet marketers have attempted to collect and organize emails for potential
prospects. Many business-to-business marketers depend on email marketing as a
primary way to connect with customers. At industry tradeshows, IBM consultants
can often be seen exchanging email information with their prospects.
Evangelism Marketing
Develop raving fan customers (what we call Brand Lovers) who
become advocates of your brand or product, and who represent the brand as if it
was part of their own identity.
Event Marketing
Creating events is a great way to drive sales. Customers
often need a reason to shop and events can often offer the perfect reason.
Macy’s Thanksgiving Day Parade has become part of American culture by
connecting two events together that consumers love: Thanksgiving and shopping.
Offline Marketing
With mass adoption of the Internet, many companies are
finding new ways of integrating offline marketing with new technologies to
create more engaging customer experiences. The Coca-Cola company has create
vending machines that invite customers to hug them. This continues to tie the
Coca-Cola brand to the core emotion of happiness, but also invite customers to
experience the real product offline.
Outbound Marketing
Sometimes it’s important for companies to let their
potential customers know they exist. By developing a list of prospects a
company can begin to reach out to their individual target groups in order to
find new customers. When Microsoft was selling their accounting software they
often used outbound marketing to identify potential targets before trying to
call the companies for an in-person meeting.
Direct Marketing
Communicate directly with customers and prospects through
mail, email, texts, fliers and other promotional material.
Inbound Marketing
Companies often have customers calling them for various
reasons. This can present a great opportunity to sell customers additional
products and services they currently don’t have. When business customers call
to check their balances, the business bank Chase often takes the opportunity to
ask if they are interest in a credit line, a 401 k plan, or a variety of other
services the bank offers.
Freebie Marketing
Promote free give aways or sell your products and services
sold at low rates to boost the sales of other related products or services.
Newsletter Marketing
A fun way to promote a business is to write a newsletter
that highlights some of the newsworthy things that have happened for the
organization. The Motley Fool have been sharing their investment insights with
their community for many years. These newsletters create a sense of inclusion
and participation with their members and has provided a key driver for their
incredible growth.
Article Marketing
In industries where expertise is highly valued, articles can
offer a powerful tool to showcase your knowledge and expertise. Some
innovations are shared in the form of articles or white papers where technical
information needs to be convey to specialized buyers. Amazon.com has dedicated
part of their site for white papers on technical know-how on cloud computing.
This is a very sophisticated form of marketing for specialized buyers.
Content Marketing
Write and publish content to educate potential customers
about your products and services. For the appropriate businesses, this can be
an effective means of influencing them without using direct selling methods.
Tradeshow Marketing
Many products have to be experienced to be bought. There are
very few customers that will buy a new automobile without doing a great deal of
research and test-driving the car first. Trade shows are industry gatherings
where customers are invited to come sample all that the industry has to offer.
To introduce their new lines of products, Ford Motor Company spends a great
deal of time setting up and operating their booth at the international consumer
auto shows each year. These auto trade shows give reporters and consumers a
chance to experience cars first hand.
Search Marketing
These days, when consumers have questions they often don’t
ask their friends; they go straight for Google. In fact, Google is so good at answering
our questions that millions of people daily search for their answers on this
leading Internet search site. One does not have to look far to see the power of
search marketing. Google has shaped the industry for many years now and has
helped hundred of retailers grow their businesses. While many businesses used
to advertise in their local yellow pages, as less and less consumer consult
their local physical directory, this channel becomes increasingly less
effective each year.
Direct Marketing
Advertise and promote your products and services to
customers using a range of digital devices including computers, smartphones,
and tablets. Internet Marketing is an essential practice in Digital Marketing.
Once a target market has been clearly identified, it is possible to work in
conjunction with the USPS or a professional mail carrier that knows where your
customers live. Direct marketing can be an effective way to reach consumers
right where they live at home. While there is often a negative side to this approach
(consumers don’t want to be bothered with a flurry of mail), many smart
companies execute direct marketing well. Catalog retailer L.L. Bean, for
example, created direct marketing programs that their customers looks forward
to receiving.
Niche Marketing
Finding a niche and filling it could be described as the
secret recipe for growth in over-crowded marketplaces. Take the shoe business,
for example. There is a great demand for shoes in the world and so many top
companies have evolved to satisfy most of the immediate shoe needs in the
marketplace. The shoe space might seem crowded, but shoe manufacturing company
Vans noticed an underserved customer: the skater. By focusing on this niche
market Vans has developed a thriving business.
Drip Marketing
Drip marketing is a communication strategy that sends, or
"drips," a pre-written set of messages to customers or prospects over
time. These messages often take the form of email marketing, although other
media outlets can also be used as well.
Community Marketing
Engage an audience of existing customers in an active
dialogue, speaking to the needs and wants of this particular customer group.
Instead of focusing on generating the next transaction, community marketing
promotes greater loyalty and higher levels of engagement within an existing
brand community. Learn how to build brand communities here. Community marketing
can also lead to word of mouth marketing.
Social Media Marketing
Social media sites like Facebook and Twitter offer a unique
opportunity for savvy businesses willing to invest in customer engagement.
Social media marketing is still in its infancy but is growing up rather
quickly. Companies like Southwest Airlines have departments of over 30 people
whose primary responsibility is to actively engage with customers on social
media.
Cross-Media Marketing
Provide customers information through multiple channels like
email, physical mail, websites, and print and online advertisements to cross
promote your products and services.
B2B Marketing
Business-to-business marketing is a marketing practice of
individuals or organizations (including commercial businesses, governments, and
other institutions). It allows businesses to sell products or services to other
companies or organizations that in turn resell the same products or services,
use them to augment their own products or services, or use them to support
their internal operations. International Business Machines is a well known B2B
marketer. IBM’s business has grown because taking a very intelligent approach at
marketing their products to other business and governments around the world.
Promotional Marketing
Promotional marketing is a business marketing strategy
designed to stimulate a customer to take action towards a buying decision.
Promotional marketing is a technique that includes various incentives to buy,
such as:
Contests: We all enjoy winning something for free. Contests
offer an attractive marketing vehicle for small business to acquire new clients
and create awareness.
Coupons: According to CMS, a leading coupon processing
agent, marketers issued 302 billion coupons in 2007, a 6% increase over the
previous year. Over 76% of the population use coupons, according to the
Promotion Marketing Association (PMA) Coupon Council. Coupons still work and
provide an affordable marketing strategy for small business.
Sampling: Try before you buy. Giving away product might
appear profit-limiting, but consider how giving your customers a small taste
can lead to a big purchase. Retail genius Publix supermarkets share samples of
their award-winning key lime pie not because people question the goodness of
the pie but to get their customers to buy more.
Ambush Marketing
Advertiser use this marketing strategy to associate with
specific events and brands without paying sponsorship fees. This allows the
business to capitalize on these events or leverage the brand equity of the
other business, which has the potential effect of lowering the value of the
original event.
B2C Marketing
The ultimate goal of B2C marketing (business-to-consumer
marketing) is to convert shoppers into buyers as aggressively and consistently
as possible. B2C marketers employ merchandising activities like coupons,
displays, store fronts (both real and online) and special offers to entice the
target market to buy. B2C marketing campaigns are focused on a transaction, are
shorter in duration, and need to capture the customer’s interest immediately.
These campaigns often offer special deals, discounts, or vouchers that can be
used both online and in the store.
Cloud Marketing
In this new form of marketing, all marketing resources and
assets are brought online so customers (or affiliates) can develop, modify,
use, and share them. Consider how Amazon.com gets customers to buy digital
books, movies, and televisions shows in a digital library that is accessible in
the customer’s online account or on their digital device like their Kindle
Fire.
Mobile Marketing
Marketing on or with a mobile device, such as a smart phone.
Mobile marketing can provide customers with time and location sensitive,
personalized information that promotes goods, services, and ideas. Here is a
recent example of mobile marketing in action.
Alliance Marketing
A joint venture is formed between two or more businesses to
pool resources in an effort to promote and sell products and services.
Reverse Marketing
In reverse marketing, the idea is to get the customer to
seek out the business rather than marketers seeking the customer. Usually, this
is done through traditional means of advertising, such as television
advertisements, print magazine advertisements, and online media. While
traditional marketing mainly deals with the seller finding the right set of
customers and targeting them, reverse marketing focuses on the customer
approaching potential sellers who may be able to offer the desired product.
In 2004, Dove launched the Dove Campaign for Real Beauty
focusing on the natural beauty of women rather than advertising their product.
This campaign caused their sales to soar above $1 Billion and caused Dove to
re-create their brand around this strategy. Although successful, this campaign
caused a lot of controversy and discussion due to what people saw as an
advertisement with a contradictory message.
Telemarketing
I know what you are thinking, you hate telemarketers. You
are not alone in your feelings. However, telemarketing can play an important
part of selling your products to consumers and it must not be overlooked as
many companies rely on it to connect with customers. Telemarketing (sometimes
known as inside sales, or telesales in the UK and Ireland) is a method of
direct marketing in which a salesperson solicits prospective customers to buy
products or services, either over the phone or through a subsequent face to
face or Web conferencing appointment scheduled during the call. Telemarketing
can also include recorded sales pitches programmed to be played over the phone
via automatic dialing. Telemarketing has come under fire in recent years, being
viewed as an annoyance by many.
Free Sample Marketing
Unlike Freebie Marketing, this is not dependent on
complementary marketing, but rather consists of giving away a free sample of
the product to influence the consumer to make the purchase.
Direct Mail Marketing
A channel-agnostic form of advertising that allows
businesses and nonprofits organizations to communicate directly with the
customer, with advertising techniques that can include text messaging, email,
interactive consumer websites, online display ads, fliers, catalog
distribution, promotional letters, and outdoor advertising. Direct marketing
messages emphasize a focus on the customer, data, and accountability.
Characteristics that distinguish direct marketing are:
Marketing messages are addressed directly to the
customer(s). Direct marketing relies on being able to address the members of a
target market. Addressability comes in a variety of forms including email
addresses, mobile phone numbers, Web browser cookies, fax numbers, and postal
addresses.
Direct marketing seeks to drive a specific "call to
action." For example, an advertisement may ask the prospect to call a free
phone number or click on a link to a website.
Direct marketing emphasizes trackable, measurable responses
from customers regardless of medium.
Direct marketing is practiced by businesses of all
sizes—from the smallest start-up to the leaders in the Fortune 500. A
well-executed direct advertising campaign can prove a positive return on
investment by showing how many potential customers responded to a clear
call-to-action. General advertising eschews calls-for-action in favor of
messages that try to build prospects’ emotional awareness or engagement with a
brand. Even well-designed general advertisements rarely can prove their impact
on the organization’s bottom line.
Database Marketing
Database Marketing is a form of direct marketing using
databases of customers or potential customers to generate personalized messages
in order to promote a product or service for marketing purposes. The method of
communication can be any addressable medium, as in direct marketing.The
distinction between direct marketing and database marketing stems primarily
from the attention paid to the analysis of data. Database marketing emphasizes
the use of statistical techniques to develop models of customer behavior, which
are then used to select customers for communications. As a consequence,
database marketers also tend to be heavy users of data warehouses, because
having a greater amount of data about customers increase the likelihood that a
more accurate model can be built.
There are two main types of marketing databases: (1)
consumer databases and (2) business databases. Consumer databases are primarily
geared towards companies that sell to consumers, often abbreviated as
[business-to-consumer] (B2C) or BtoC. Business marketing databases are often
much more advanced in the information that they can provide. This is mainly
because business databases aren't restricted by the same privacy laws as
consumer databases.
Personalized Marketing
Personalized marketing (also called personalization, and
sometimes called one-to-one marketing) is an extreme form of product
differentiation. Whereas product differentiation tries to differentiate a
product from competing ones, personalization tries to make a unique product offering
for each customer. Nike ID is a popular brand that has developed a strong
business around this personalization marketing concept.
Affinity Marketing
Create strategic partnerships that are mutually beneficial
by forming alliances with complementary brands. Also known as partnership
marketing, with this strategy, one brands generates sales while the other
creates new customers and builds brand awareness.
Cultural Marketing
The proposition of cult marketing holds reign upon the
notion that a way to convert—ahem, excite ... OK, convert—consumers is by using
timeless human behavioral drives found in religious cults. Heck, fellow
acolytes, nothing is more permission-, buzz- and one-to-one-based than "a
central ideology with a parallel social universe rich with customs." Cult
marketing is a bright spot in the list of newfangled marketing templates, one
that applies timeless social-science principles in a powerful way. To the list
of newfangled marketing buzzwords, let's add the term cult.
Humanistic Marketing
Human needs are “a state of felt deprivation.” They
distinguish between physical needs (food, shelter, safety, clothing), social
needs (belonging and affection), and individual needs (knowledge,
self-expression). Needs are a relatively narrow set of non-cultural states of
felt deprivation.
Guerrilla Marketing
Grass root, untraditional, and low-budget methods that found
involve creativity, big crowds of people, and the element of surprise to market
or promote a product, service, brand, event, or new launch.
Brand Lover Marketing
Brand Lover Marketing is a marketing concept that is
intended to replace the idea of traditional brand marketing. Brands are running
out of juice and Brand Lovers are what is needed to rescue brands. But what
builds loyalty that goes beyond reason? What makes a truly great brand stand
out? Brand Lovers bring brands to life. For a brand to elevate itself into the
"Cult Brand" category, it has to give customers a feeling of
belonging while generating strong feelings of love for its customers. Creating
loyalty beyond reason requires emotional connections that generate the highest
levels of love and a sense of belonging for your brand.
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