Updated: 6 days ago
Introduction to Marketing Strategies
Having solid marketing strategies for your business is very important for not just the growth of the business but, for the growth of business in a durable and sustainable manner.
There are many types of marketing strategies for small and large businesses but, not all the marketing strategies that may be suitable for a business model. Therefore, it is imperative that the marketing strategies that are implemented by the business should be synchronous with the very idea of the business model.
The following are the 10 types of marketing strategies that any and every small business should apply for their seamless growth.
Types of Marketing Strategies for Small Business
1. Storytelling marketing:
This is the most important type of marketing strategy because, the idea of any business model should connect with the customers and it can only connect when the idea is produced in the form of a story, stating how the business can be a solution for the customers’ problems at large.
Find different kinds of marketing strategies for small business and startups
The story of the business idea should be original, engaging, and solution-oriented.
2. Internal Marketing
Employees and channel partners can prove to be the biggest customers. Instead of looking at the employees and channel partners to be just co-workers, they can be looked at as the first customers.
There is in fact, no need of explaining the technicalities and products because they are already working with the very ideas of the business. In fact, the employees can be assets by turning out to be a big source of Word of Mouth to their family and friends. All it needs is little appreciation and the rest might be done from their end.
3. Direct Selling
The most traditional way of marketing, yet, the most satisfying way for a lot of businesses. Customers would always like to be explained about the products/services in a face-to-face and direct manner.
This type of marketing strategy also helps build the trust of customers. Companies like Amway have grown to such big statures because of this kind of marketing.
4. Digital Marketing
This type of marketing technique is the need of the hour. Any marketing that is implemented over digital platforms be it Social Media Marketing, Affiliate Marketing, Marketing through blogs, or search engine marketing is considered to come under the umbrella of digital marketing.
But, before implementing this type of marketing strategy, we should be very clear about our niche, its target audience, and the frequency of its ads over the digital media platform.
Best marketing strategies for your small business growth.
Digital Marketing is the most important types of online marketing strategies for promoting your business on the internet.
5. Brand Strengthening
It is very important that people are not only aware of the business brand but are also able to recall your brand at a critical juncture when their need arises. Brand strengthening is a very important marketing strategy for making your business brand powerful.
It may range from developing a powerful logo to a complete overhaul of the design and culture of the company. Companies like Pepsi have turned so successful brands by completely focusing on improving their brand strength.
6. Behavioral Marketing
Behavioral marketing deals with identifying the behavioral patterns of the consumers in an area like studying the cultural factors, social factors, personal factors, and psychological factors.
This type of promotional method has evolved in the present days by identifying consumer behaviors in digital marketing platforms via cookies, IP addresses, etc. It is very important that the business understands the consumer behavioral pattern so that, a solution offered by them fits the expectations of the consumers.
Also Read: Scope and importance of consumer behavior
Advertising is a very important "type of marketing strategy" because while all the other strategies of marketing are important in their individual ways, advertising encompasses all the other types of promotional strategies by applying all or many strategies that are mentioned.
Advertising is very important because there is no other marketing strategy that can increase the reach of a brand like advertising does.
Also Read: advertising techniques for business
8. Affinity Marketing
Affinity marketing, which is also known as co-branding, refers to the process wherein, two brands that have common target audiences, come together as partners and in certain scenarios may also jointly develop products.
It should be noted that the partners involved in co-branding are usually not direct customers. One of the famous examples of co-branding is coming together with Apple and Nike.
9. Word-of-Mouth marketing
Word-of-mouth marketing is one of the most efficient marketing strategies for business. Word-of-Mouth is generally done by the consumers in lieu of the delightful servicing done by the companies.
A very classic way of promoting word-of-mouth is the testimonies and reviews shown on the company websites which help other potential customers in choosing the brand for providing them the services.
10. Growth Hacking
Growth hacking involves the use of different types of marketing strategies in a combined way in order to produce growth results in a very short time. But, it is important to select the right combinations of marketing strategies and it is for this very reason that growth hacking is a very critical type of marketing strategy.
When implemented correctly, growth hacking produces results far surpassing the results produced by the strategies individually.
Here is a List of Types of Marketing Strategies for Small Business
There is no specific guideline for a business to be successful because different businesses might need different types of marketing strategies for the growth of your small business. Therefore, entrepreneurs should have the utmost clarity about their domain, their niche, and the target audience so that, they can implement the marketing strategies which may be synergic with their business model.
Explore the marketing strategies for small businesses to find the many different marketing strategies for your business growth.