The digital world has made marketing easy and affordable, but that doesn't mean you shouldn't get out into the world to promote your business. Even if your business is primarily online, consider adding networking to your marketing tactics. Remember, success in business is about relationships, and networking allows you to make the types of relationships that lead to sales, referrals, and other important business growth.
6. Create local awareness and establish a network. Join chambers, business associations, community groups, etc. Find ways to get involved. Networking is a great way to capture business leads as long as you don’t come on too strong. It allows you to meet new contacts and create more brand awareness and new referrals. Sponsor sporting events, nonprofit events or anything that is for a good cause. Get your name out there while also being a good community steward. Give away SWAG (promotional items with your business name, logo and contact info on them). T-shirts are a great example of free walking advertisements for your business.
Market leader: The market leader dominates the market by objective measure of market share. Their overall posture is defensive because they have more to lose. Their objectives are to reinforce their prominent position through the use of PR to develop corporate image and to block competitors brand for brand, matching distribution through tactics such as the use of “fighting” brands, pre-emptive strikes, use of regulation to block competitors and even to spread rumours about competitors. Market leaders may adopt unconventional or unexpected approaches to building growth and their tactical responses are likely to include: product proliferation; diversification; multi-branding; erecting barriers to entry; vertical and horizontal integration and corporate acquisitions. Generating Real Estate Leads and Clients with Content Marketing | Ray Ellen | Summit 2017
If you follow yoga instructors on Instagram you must have seen them promoting products of certain brands. It is clear that co-branding or affinity marketing represents a partnership between two businesses with similar interests. They aren’t competitors to each other. Hence, there is no fear of losing your customer base. Affinity marketing refers to creating a product with another business to boost its sales.
Diversification is the riskiest area for a business. This is where a new product is sold to a new market. There are two type of Diversification; horizontal and vertical. 'Horizontal diversification focuses more on product(s) where the business is knowledgeable, whereas vertical diversification focuses more on the introduction of new product into new markets, where the business could have less knowledge of the new market.
In the resource-based view, strategists select the strategy or competitive position that best exploits the internal resources and capabilities relative to external opportunities. Given that strategic resources represent a complex network of inter-related assets and capabilities, organisations can adopt many possible competitive positions. Although scholars debate the precise categories of competitive positions that are used, there is general agreement, within the literature, that the resource-based view is much more flexible than Porter's prescriptive approach to strategy formulation.
If you have lots of connections on LinkedIn and you're not really posting on there, start immediately. You can reach a large audience, especially when your posts go viral. This is a great place to convey the entrepreneurial journey. Talk about your challenges and tell stories. The more effective your stories, the larger your potential reach when you go viral.
Is there a local business in your area that isn't a direct competitor but offers a product or service to a similar target audience? Consider working with them on a cobranded campaign where you promote each other on social media, via email, or in your blog. While you'll give your partnering company added promotion, it will also allow their fanbase to learn more about you.
Once you have a few social media accounts and can allow people to sign up for your newsletter, highlight this on your website so your visitors can follow you. One way companies do this is to display all of their linked social icons and a newsletter sign-up call to action on all pages of your website. A good place to include these are on the top right corner or on the footer of each page. This way they are visible, but aren't distracting from any content. What is Video Marketing?
More than anything, focus on consistent, repetitive branding. Many marketing professionals believe in the “rule of seven," which means people need to hear or see your message at least seven times before taking any action. In today’s world of constant connectivity, you must make sure you’re seen and heard. The most common reason that people do not buy your product is that they do not know about it yet.
A carefully-cultivated marketing strategy should be fundamentally rooted in a company’s value proposition, which summarizes the competitive advantage a company holds over rival businesses. For example, Walmart is widely known as a discount retailer with “everyday low prices,” whose business operations and marketing efforts revolve around that idea. Online Video Marketing Trends - Infographic Video
What does it take to do that? Simply put, you have to take a step back for a moment. You have to analyze and understand the basic mechanics of your message and how to effectively reach a larger audience without losing your shirt. The secret to all of this? No matter what marketing strategy you use, if you don't have an effective sales funnel and optimize your conversions, you'll just be throwing money away. Video Marketing For Your Business: The 4 Videos You Need
If you've never made a website before and aren't entirely comfortable with the technical elements, there are a variety of free tools and services to help you get started. When you create your website, make sure you implement Google Analytics or HubSpot Marketing Free (both of which are free products) so you can easily track who's looking at your site.
For any business, having up-to-date social media accounts will help you be found and engage with prospects. Create a Twitter account for your business, Facebook page for business, learn how to use Instagram for business, create a Pinterest page for your business (if relevant), and use them as a way to discover new clients. You can also try your hand at using Snapchat for business if you've already mastered the basics.
However, identifying the right strategies to market your business is often likened to rocket science. How do you get your message to the right audience and do it effectively? How do you boost visibility and increase sales while sustaining a profit with a converting offer? Today, with so much vying for our attention from social media, to search engine optimization, blogging and pay-per-click advertising, it's easy to see why most are ready to pull their hair out.
A webinar allows potential customers to sign up for a short online course hosted by you. These courses are usually between 30 minutes to an hour and allow you to give tips and answer questions related to a topic your brand is familiar with. While this strategy can help you boost your credibility in your field, they can also offer you potential leads and sales opportunities. VIDEO CONTENT MARKETING | TOP 4 Types of Video to Use to Market Your Business