Three Types of Marketing Strategies
There are three basic types of marketing strategies that are used by all businesses, large and small. All marketing plans can be divided into one or all of these types. They are:
- Online or internet marketing.
- offline marketing.
- Relationship marketing or word of mouth.
There may be some crossover of these categories mainly between online and relationship and as we get into our topic you will see what this is like. Also, you will find that there can be a wide range of marketing costs between these different types and I know this is important for everyone just starting a new business. Remember that marketing can be the most exciting part of starting a business because you get to watch your business grow and succeed.
Online / Internet Marketing
Many people today are starting online businesses. Like all businesses that start, online or in physical stores, not all start-ups will be successful and what will determine if they succeed is their marketing plan. Online marketing combines creative and technical aspects of the Internet, including advertising, design, sales, and development. It also uses search engine marketing (such as Yahoo and Google), website banner ads, search engine optimization, and email marketing strategies. There are some definite advantages to marketing online. Internet marketing is quite cheap when compared to the cost of reaching your target market with traditional marketing techniques. There are many companies that have discovered that they can reach a very large audience for significantly less cost than their standard offline advertising methods. offline marketing This is the traditional type of marketing strategy. If you’re old enough, if not ask any old man you know, think about 20 years ago, before the Internet existed. All the types of marks that were used then fall into this category.
- Advertisements in the newspapers.
- Radio.
- TV.
- Massive mail.
- billboards
- Magazine ads.
As you can imagine, offline marketing is going to be the most expensive type of marketing because, unlike online marketing, every time you want to get your name out there, you have to pay. So keep in mind how much budget you have to commit to marketing. You may want to focus more of your efforts on the Internet and relationship marketing, but as always, the choice is yours.
Relationship marketing or word of mouth
This guy, if you commit to him, can and will be your most important marketing strategy. It will build trust in your customers that cannot be built in other ways. Think about your own experiences buying a new one (fill in the blank). If what you want to buy is recommended to you by a trusted friend, the chances that you will buy it are higher than if you only see an ad. Trust is HUGE in any marketing strategy. The trick here is to build networks of people who know and trust you.
offline relationships
- Friends.
- Relative.
- business acquaintances
- Community Engagement Coworkers
- fellow parishioners
- Anyone you meet in town.
When the opportunity presents itself, talk about your business! Tell them what you are doing, your plans, your dream of wanting your business to show up eventually. Opportunities present themselves all the time, all you have to do is recognize them and put yourself there! As these people learn about your business and like what you have to offer, they will tell their friends, who will tell their friends, and so on.
online relationships
Since the advent of the internet and depending on the nature of your business (is it local or more outreaching in terms of who your customers are) this could be the biggest part of your marketing strategy. I’m not telling you anything you probably don’t know, but today the internet is all about relationships. People are contacted at:
- My space
And this is just the tip of the iceberg! There are more places to meet and meet people than you can imagine. Like online marketing. These are the 3 types of marketing strategies and they will work for you and your new business, but you have to commit to them. It’s work but you can do it. Believe in yourself! (if you made it this far, I believe in you too because you have shown that you have the will to succeed) You believe in yourself and so do I. It’s 2 people – look, your plan is already growing!