10 marketing strategies, understanding, functions, examples and elements in marketing
In an effort to develop business, one of the things that must not be missed is planning. Business plans can be analogous as a map to show direction in a success. Another thing that is not less important is to establish a marketing strategy
Marketing occupies a strategic position to achieve a success in a business. Although a product has good quality, it will not be able to generate multiple profits if it is not accompanied by the right marketing strategy.
Without a good marketing strategy, it is quite difficult to develop business. Moreover, the risk of losing competition is very likely. So, learning about marketing is very important in running a business.
For this reason, please see the explanation below to be able to achieve success with the right business strategy!
Understanding of marketing strategies
Before entering the tips, you should know the understanding of marketing strategies first. The marketing strategy is an effort to market and introduce a product and service to the community.
Of course using plans and mature tactics, so, the number of sales can increase. The marketing strategy can also be interpreted by a series of businesses carried out by the company in achieving goals.
In a business, there are three factors which are the determinants of selling goods and services that include production, marketing, and consumption. So, marketing can be said to be a connecting manufacturer and consumer.
Marketing Strategy Function
There are four outlines that can explain the function of marketing strategy. Here’s the review:
- There are Standards for Member Work Achievement Assessment in the Business and Company fields. With this standard, the quality and quality supervision can be increasingly effective.
- As a tool for achieving various purpose companies in a long and short period of time.
- To organize the course of the business. So, the coordination of the marketing team can run effectively and according to the target.
- Will increase motivation in the business that is being carried out. The marketing strategy requires business people to predict the course of business in the future. And can encourage the business so that the business can run optimally.
The purpose of marketing strategy based on the reviews above includes:
- Being an activity in developing business capabilities in order to be able to adapt.
- For the basis of thought in marketing decision making.
- Used for measuring media from marketing results based on predetermined achievement standards.
- So that the marketing team can improve the quality of coordination among individuals in it.
10 Tips for Marketing Strategy for Your Business
In preparing effective marketing strategies, then you can apply some of the following:
1. Always consistent and planning
In marketing strategies, consistency is needed. It is aimed at marketing costs to be efficient. Not only that, the effectiveness of brand creation will increase.
Mature marketing planning also needs to be done so that many customers arrive. Before marketing the product, you can plan a marketing strategy effectively. Starting from the marketing budget, to other concepts so that businesses can be easy to develop.
2. Targeting Market Targets
You also need to define properly regarding the market share that is being intended. The most appropriate way is to choose some market segments that you will enter. The goal is that the target market becomes clearer. This will make it easier for you to concept the right marketing technique.
3. Accurate budget calculating
The most difficult part in determining marketing strategies is to determine the budget. Because this requires the right accuracy. From the budget that has been made, you can determine the amount of funds needed for effective marketing activities.
To facilitate budget calculation as well as sustainable business planning based on financial data, you must do planned books for your business.
4. Determine Marketing Mix
Marketing Mix is a price, product, and also a place of promotion. As an entrepreneur, products and services must be decided specifically. And must also be determined where and how you can distribute products. In addition, how to so that other people can know the products offered are also part of the Marketing Mix.
5. Use a website to market the product
At present, all kinds of businesses need a role of the website to promote its products. In addition, the website is also the most optimal media to provide information on prospective consumers about the products offered. This is because 60 percent of consumers who use products get information from the internet.
6. Do branding well
The next marketing strategy is to do branding or imaging. Branding itself is a process that determines whether consumers receive company products.
Every company must carry out branding on its products. So, consumers will be loyal and loyal to use the product. Some efforts to carry out branding against companies include creating logos, images, and also determining superior products.
That way, the products and companies will be better known by the community.
7. Promotions and advertisements
The next marketing strategy is to use promois and advertisements to add brand awareness for the products you sell.
If necessary, you can also use paid media so that visits to social media can increase. For example by using Facebook ADS, Google Ads, Instagram Ads, Twitter ads, and many more.
With this strategy, you will be helped to increase conversion and the number of product sales prospects.
8. Customer Relationship Management
So that your consumers remain consistent and loyal, then managing good relations with customers is needed. That way, the customer will not run to another company.
For this reason, you need to make management of good relations with customers. Starting from a special member card for customers and giving prices discounts for members.
9. Apply Mobile Marketing
At present, more and more smart phone users. Of course making marketing messages and content for the car platform is the thing that must be done. The reason is more and more consumers want to see content, buy products using smartphones, and receive marketing emails.
For this reason, companies must redesign blogs or websites to be more responsive with smart phones. Because, according to data, there are around 30 percent of internet traffic using mobile devices.
It is very important in reaching on mobile users due to their contribution at the level of web visits in Indonesia.
10. Email marketing.
To do email marketing, then there are a number of things that must be considered. First, the writing must be persuasive. However, do not overdo it to explain the superiority of the product.
Business people also need to insert a newsletter form and subscription. The goal is that prospective consumers can write a e-mail address if interested in a business offer.
So, you can do further activities so that prospective consumers can become loyal customers.
Examples of businesses that have succeeded in making a marketing strategy
1. Spotify: offers a different user experience
At present, Spotify is one of the most famous global companies on the planet. But how can this Swedish brand conquer the world?
There are many streaming music services, but which makes Spotify unique focus help users find new content.
Spotify tries to be different from the ordinary music streaming platform and instead offers a truly new user experience to listeners.
For example, besides a typical filter based on genres, Spotify also allows users to choose music based on their mood, whether you want to exercise, sleep, or even need some songs to be sung in the bathroom.
This helps users find songs that have never occurred to them and in turn, strengthens their relationship with the brand. They also become the forefront of using artificial intelligence to compile playlists specifically based on their user’s habits, such as Release Radar and Discover Weekly.
2. GoPro: Believe Used User Content
One of their best marketing strategies is how it facilitates their customers to share user-made content.
For this, maybe you must be proficient in different languages owned by the audience and have a good vocabulary management process for the content. To make this easier, you can use an efficient online paraphrase that will allow you to do this task.
With this tool, you don’t need to worry about anything, because this tool will automate every task. You only need to enter text in the box provided.
In addition, the first tool will analyze the text and then start rewriting. In the end, you will be given 100% unique and free plagiarism content.
Because of its AI-based technology, the meaning of original content will be maintained. Because of this, you just enter all blogs without fear.
GoPro Camera is a favorite among adventurers, adrenaline addicts, and athletes because they managed to record content that could almost not be recorded using traditional cameras. Because of the nature of its products, GoPro is able to make spectacular content.
For example, GoPro editing programs make videos with early and end-recognized frames that display logos and Gopro brands. GoPro then distributes this video on social media, which in turn inspires more users to create and post their own videos.
This marketing strategy was very successful for GoPro. Do not believe? Check Youtube Gopro Channel and see how good the content is in it and also how many subscribers are.
3. Twitch: Focus on your niche
Twitch is one of the most successful social networks lately, but not many people know it. That’s because twitch is based on one topic: broadcast live video games.
The secret of Twitch’s success is that they don’t aim to target everyone. In fact, they have done the opposite and decided to focus on a very specific niche and build relationships with its users.
4. Nike: Promote your value
There are only a few brands that can be recognized like Nike and the slogan “just do it”. Since its inception, this brand focuses on promoting brand values, such as overcoming difficulties or innovation.
To deliver this culture to its audience, Nike rely heavily on Storytelling: advertisements that tell stories that inspire and provoke positive emotions to users. In addition, the brand value is not only present in your marketing, but in everything you do.
5. WWF: Commitment to Creativity
The “Earth Hour” initiative of the World Wildlife Foundation is an event where people around the world voluntarily turn off their lights for one hour to show how easy it is to fight climate change.
WWF launched a banner campaign in Norwegian mainstream media to announce Earth Hour. If the user touches a banner, their cellphone screen will turn black completely.
Once they slip the finger on it, the countdown for Earth Hour will appear. This original campaign was successful, and managed to attract around 1 million impressions.
Important elements in building a marketing strategy
5P Marketing – Product, Price, Promotion, Place, and People or products, prices, promotions, places, and people – are the main marketing elements used to position business strategically.
5 P of Marketing, also known as a marketing mix, is a variable controlled by managers and business owners to satisfy customers in their target markets, add value to their business, and help distinguish their businesses from competitors. Here is the explanation of the five elements:
Products refer to products and services offered by business. Product decisions include functions, packaging, display, warranty, quality, etc.
Customers need to understand the features, advantages and benefits that can be enjoyed by buying goods or services. When thinking of a product, consider the main features, benefits, and needs and desires of customers.
Prices refer to pricing strategies for products and services and how they affect customers. Pricing decisions not only include selling prices, but also discounts, payment settings, credit requirements, and whatever price matching services are offered.
When determining a pricing strategy, it is important to consider business positions in the market today. For example, if the business is advertised as a provider of high-quality mechanical equipment, product prices must reflect it.
Promotion refers to activities that make business better known consumers. This includes things like sponsors, advertising, and public relations activities.
Because promotional costs can be very large, it is important to do an impious point analysis when making promotional decisions. It is important to understand the value of the customer and whether it is worthy of doing promotions to get it.
The place refers to the place of product / business services seen, made, sold, or distributed. In essence, place decisions are associated with distribution channels and how to deliver products to targeted main customers.
It is important to consider how easily access to products or services and ensure that customers can easily find you. Products or services must be available for customers at the right time, in the right place, and in the right amount.
For example, businesses may want to provide their products through e-commerce sites, in retail stores, or through third party distributors.
People refer to staff, salespeople, and those who work for the business. People’s decisions are usually centered around customer service – how do you want your employees to be assessed by customers?
Example 5 p in marketing
Budi is considering operating a jet ski shop that serves tourists and tourists. To position its business, Budi can consult with 5 p in marketing in the following ways:
- Product: Jet skiing per hour for people in town for a short time. The limited accountability form will be signed by people who participate in service and money deposits if damage occurs.
- Price: cheap ski jet trips to meet the budget limits of travelers and tourists. 10% discount for jet ski trips if referred by a travel agent.
- Promotion: Facebook page, Instagram page, and Twitter account to promote business. Also, paid promotions on travel agency websites.
- Place: Locations that are easily accessible from existing transit systems.
- People: Friendly staff members who like to meet tourists and offer exceptional customer service.
That is the explanation of 10 business strategies in full. In business development, teams and owners must have the right marketing strategy. So, the possibility of business will develop greater. Business can run optimally.
For this reason, it is important to apply a careful marketing strategy. Stay learning and find the most suitable marketing strategy.
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