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Marketing is not what it used to be some two decades ago! Marketing has evolved at lightning speed since then, resulting to several marketing types. Some of these marketing methods are more effective than others because of factors such as business model, type of services and products offered and more.
As the world keeps on evolving, marketers are unveiling new ways to communicate and distribute their products or services to their audience. Here is our list of the different types of marketing that brands can use to scale their businesses to new heights.
1. Influencer marketing
Influencer marketing has been on constant change, and it is for the better. There is always an extra boost of a product or a service when a well-known person is promoting it. Influential marketing spikes interactions, builds trust and results to increased sales.
There is also increased brand awareness when a high- profile celebrity or influencer promotes a product of a specific brand. This type of marketing has helped brands stay ahead of their competition and achieved a higher return on Investments. Influential marketing is not going anywhere; it is here to stay!
2. Referral marketing
This type of marketing involves using existing customers to bring the brand new prospects through word of mouth. Referral marketing is built on the fact that people love talking about products or services that they find value in.
The best way to go about this type of marketing is to create viral campaigns with values that people cannot resist -a campaign that grabs people’s attention, one that makes them want to take action immediately.
Offering incentives to old customers when they bring in new prospects works well in increasing sales, sign-ups and brand awareness.
3. Contextual marketing
Contextual marketing is quite useful because of the approach it employs. This type of marketing presents ads to the targeted audience based on their recent browsing history.
Interestingly, marketers and brands can know which websites their audience visit frequently. They are then served with ads that present an offer they have previously shown interest in.
Contextual marketing has a better outcome than cold- calling random prospects. This type of marketing keeps on becoming better.
4. Content Marketing
Content marketing is distributing content to trigger decisive action from the customer and prospects. Content marketing is a different type of marketing because of its approach.
It aims at delivering information bout products and services to add value instead of sell to the targeted people.
Content marketing is effective because of the following reasons:
- It creates a good relationship between a brand its customers
- It uses a non- aggressive selling approach, unlike other forms of marketing.
- It is giving value hence good chances of retaining its customers and attracting new ones to the business.
Content marketing usually involves sending out reading materials such as newsletters. Brands can inform customers and prospects about their products and services and how they will benefit from them.
Posting articles on brand pages on social media, selling ebooks, publishing on business websites are among the few effective ways of content marketing.
5. Conversion marketing
This is a type of marketing that meets the customer at the end process of their buying journey. This type of marketing is mainly used by a brand when they feel that they have more window shoppers than actual buyers.
This type of marketing’s primary goal is to convert potential customers by employing some tactics. One of the common tactics is offering a discount or coupon when a visitor abandons a cart. Immediately they want to log out, they are presented with a gift, chances are they will shop and check out, bettering overall conversions.
6. Social media marketing
Social media marketing is vast. There are many social media platforms, and more are emerging each day. Brands need to identify which platform their customers and prospects use most.
It does not make sense to market your products on twitter when 90 per cent of your clients spend their time on Instagram. Again, you have to determine the primary goal of your social media campaign. For instance, you can start a campaign to increase sales, traffic or create brand awareness.
Social media marketing is one of the most effective ways to market products and services. The key lies in identifying the ideal platform to use and the overall approach.
7. Corporate marketing
Corporate marketing is one of the oldest methods of marketing, and it keeps getting better each day. This type of marketing aims at creating a positive brand image for the audience.
This form of marketing takes time to execute as one has to plan which specific products or service to market. You will also have to come up with images, colours and messages that are likely to attract the audience.
In other words, corporate marketing aims at creating better brand appearances such as advertising implementations to other ideas such as mission messages.
8. Affinity marketing
This type of marketing is also called partnership marketing. This marketing is about creating a mutually beneficial relationship between two businesses. The main aim is for both businesses to benefit mutually.
One of the benefits that come with such type of marketing is increased brand awareness, increased sales and better customer engagement.
The above marketing has made it possible for brands to promote products and services in the most modern ways without much hassle. They help brands target the people who are likely to buy hence increase in sales hence better return on investment.