Successfully marketing a business requires a combination of efforts and approaches. These are our favorite marketing strategies for 2021.
Successfully implementing marketing strategies is both an art and a science, primarily because you will need to tailor each marketing method to your business and marketing needs.
Although the basic concepts remain the same, it is possible to get creative with effective marketing strategies in 2021.
Presentation: what is a marketing strategy?
A marketing strategy is a long-term plan with a quantifiable goal and concrete steps to increase awareness of a brand or product in the market and secure competitive advantage by attracting consumers. Essentially, it’s about the “how” of implementing marketing techniques.
What to consider when selecting the best marketing strategy for your business
There are a few things in particular that small and medium-sized businesses should keep in mind when embarking on a marketing plan.
1. Target market demographics
The most crucial part of any marketing implementation plan is its target audience. After all, it’s the consumer’s attention (and wallets) you want to capture.
You need to have a good understanding of the demographics of your target audience: what ages are you targeting? Genders? Revenue? Interests? Relationships? Life stages?
You’ll want to consider everything from basic data to the type of social media pages and personalities they’re likely to engage with, where they hang out online, their shopping habits, and more.
By understanding this and your audience’s journey as a whole, you can better understand how to get in front of your prospects and engage them with tailored marketing strategies.
2. Pricing and budget
Money makes the world go round and prices drive marketing recommendations. There are two types of financial data to consider: your customer price and your budget for marketing and advertising spend.
You’ll want to create a pricing structure that covers your profit margins while remaining attractive to customers and competitive in the marketplace, with business marketing strategies designed to match.
You also want to determine your marketing budget. What can you afford for marketing and advertising? Determine your CAC (customer acquisition cost) in addition to fixed marketing costs, so you can have a monthly budget set up for advertising that still protects your margins.
3. Long term goals
What exactly do you expect from marketing? The best marketing strategy to, for example, build brand awareness is not the same as a strategy to increase web traffic. It will also be different from purchase conversion campaigns.
Make sure you are clear about the goal of your company’s marketing strategy.
5 Marketing Strategies Your Business Can Try
Here are five strategies that will boost business.
One way to increase traffic and brand recognition is through SEO (search engine optimization) and “befriending the algorithm”. There’s a lot of tweaking and research involved with SEO (some software platforms will even have built-in automation tools to help). Nonetheless, the end goal is always to increase your brand awareness, thereby increasing website traffic and sales.
Since many search engines, such as Google, prioritize organic and natural search results, improving SEO will go a long way in increasing your brand reach.
Also, the more you improve organic SEO, the better your advertising campaigns will perform, because they feed off each other. SEO works in tandem with organic search, inbound marketing, and paid advertising.
Focus on particular keywords and be sure to incorporate them into your content. Update the content regularly so that your site is registered as active; this is most easily accomplished via a regular blog.
Use alternative image backlinks, headers, and descriptions to lengthen the customer journey and speak more effectively to the search engine’s AI.
2. Influencer Marketing
There’s no denying that influencers are the trendsetters of the present and the future, and partnering with a few influential social media personalities is a great way to boost your brand awareness.
Collaborations with influencers increase your visibility and increase your brand trust and reputation because followers already trust the recommendations of the personalities they follow and interact with.
However, pay attention to the selection of influencers. You’ll want to make sure their community, ideals, and aesthetics align with your brand. You also need to keep your collaborations workable: don’t chase personalities with millions of followers, because you probably won’t get an audience with them.
Focusing on micro-influencers with over 10,000 followers is more feasible since you will be targeting a niche group that is more receptive to this type of marketing.
3. PR and Affiliate Marketing
Media mentions are a brand’s best friend. Essentially, good press is free publicity, so the more you can do with it, the more your brand awareness increases. You can also combine public relations with affiliate marketing to monetize good word-of-mouth.
Free media can come in many different ways: mentions or reviews in the press, social media testimonials, product listings, blogs, etc. They cannot be bought or coerced. Sending in free samples or asking for reviews is a great way to get “free word of mouth press”.
Media mentions can then be combined with often underused affiliate marketing. Programs such as ShareASale or SkimLinks pair verified merchants with verified press partners to create links in articles.
If you are, for example, a mask company and you got media mentions in articles, you can link with affiliates to further promote good word of mouth.
When someone clicks on a link through an affiliate program to make a purchase, your publishing affiliate gets a small percentage of the sale, while you get a sale you probably wouldn’t have captured elsewhere.
4. Email Marketing
Email marketing is not only very effective, but can be relatively stress-free thanks to marketing automation. Because it allows constant contact in a customer’s inbox, it’s a harmless yet persistent way to nurture and warm up leads and promotions.
We recommend creating customer contact lists and funnels based on attributes or triggered functions so you can send tailored but targeted emails to every position along the pipeline.
This technique allows you to target your messaging at a more granular level to appeal to various decision-making points. You can track success through open rates, click data, and unsubscribe rates, and use split testing to further refine effective posts and topics.
5. Social Media Marketing
Social media is the most important and will only continue to grow as more brands in 2020 learn to live online. Building an online following on the appropriate social channels will cultivate an engaged community and loyal customers, opening a wide arena to push sales, promotions and new releases.
Authenticity is key, as is brand cohesion. Make sure your posts are the right mix of engagement and sales and tailor your messaging to each platform. For example, focus on visual aesthetics and appropriate hashtags on Instagram, while putting more energy into longer captions and joining groups on Facebook.
Successful Marketing in 2021 and Beyond
The most successful marketing strategies will always vary, not only between companies, but also as marketing trends and innovations change.
There are so many strategies and channels you can implement for marketing, but the greatest success will be found if you can stay nimble.
Don’t be afraid to test different waters until you find what works best, and evolve and change as needed.