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Marketing in the world of business has become important over the years; anyone or any brand to be successful or make progress in the world of business will have to rely on it.
If so, what then is marketing?
Marketing refers to those activities carried out by a business venture to promote their product or services online or traditionally[that is physical].
The purpose of any marketing endeavor is to create awareness and get potential customers to choose a company’s product or service over that of its competitors.Tailoring one’s product or services to match the needs of consumers is another vital aspect of marketing.
Peter F.Sticker says it all:“Marketing aims to know and understand the consumer so well that the product or service fits him and sells itself.”
The massive success of Apple Inc. It is all thanks to Steve Jobs’ technical genius and, most importantly, his extraordinary marketing skills. Jobs wasn’t just great at creating sophisticated tech. He understood the needs of consumers and made sure to develop innovative and beautifully designed products that satisfied those needs and desires.
Types of Marketing
Over the years, marketing has evolved from what it used to be. When once there were only media houses to promote a brand’s product or services, the advent of television and the internet changed the game. Now brands have a wide variety of marketing methods to choose from.
There are two forms of marketing; online marketing and offline marketing.
The difference between both is that while one relies on print, radio, television, and word of mouth to reach its target audience, the latter uses the internet.
A company may choose to work with these or use both, but between both, online marketing has proven to be the most used. The reason for this is that the average individual spends more of his time online than they do listening to the radio or TV. So let’s look at the different types of marketing that are available to today’s businesses:
1. Affiliate Marketing
An affiliate helps promote the product of a brand on whatever online channel they see fit. The good thing about using this marketing method is that businesses only get to pay the affiliate when the latter’s promotion generates a sale.
Affiliate marketing is an effective method as the publisher will do everything possible to market a brand’s products to consumers for the commission they stand to get.
2.Social Media Marketing
Businesses employ this method to reach potential customers who already spend a great deal of their time on social media platforms.
Great marketing on social media can help bring success to a business. It makes it easy for brands to interact with their customers and build relationships. It can also help to drive leads and sales.
3.Content Marketing
Content marketing refers to any form of marketing that involves the creation, publication, and distribution of free content online.
In an attempt to get the word out, businesses are known to spend heavily on content marketing each year. Content marketing uses videos, infographics, blogs, podcasts, social media posts, and persuasive copy to attract and convert prospects into customers.
4.Search Engine Optimization
Also known as SEO, this digital marketing method is the process of optimizing a website for visibility on search engines. The goal of employing this method is to create awareness and get potential customers to find and visit one’s website.
The first page of Google is a profitable place for businesses. However, getting there doesn’t come easy. Companies spend a lot to have their websites and web content on the front covers of Google; if you can afford it, you can go for it.
5.Email Marketing
Email marketing is one of the most direct and effective ways a business can connect with leads, nurture them, and eventually convert them into customers.
Email marketing is a digital marketing method where companies send emails to prospects and customers. The content of the emails could be educational, entertaining, or promotional as the case may be. On most occasions, the emails sent out aim at persuading potential customers to take actions that favor the brand.
6. Influencer Marketing
This method of marketing orients itself around an influential individual. Influencer marketing is yet another effective marketing strategy.
A company looking to promote its products or services reaches out to an influencer in their industry or niche and finds a mutually beneficial way to promote inserting to the influencer’s vast audience.Retargeting Retargeting is the practice of serving display ads to individuals who have engaged with one’s website or brand in the past.
Businesses use this method to lure existing or potential customers to revisit their website or purchase what they offer. Studies have shown that 92% of people who visit a site for the first time aren’t looking to do any marketing, so it becomes necessary for a brand to retarget these one-time visitors.
7.Brand Marketing
Brand marketing is a marketing move by brands to shape their public perception and to connect with their iris target audience. Brand marketing uses inspiration, storytelling, humor, and creativity to establish an emotional connection with existing and potential customers
8. Cause marketing
Companies promote and support a charitable cause to boost their brand awareness. Some examples of cause marketing include licensing of charity trademarks for use in sales, public awareness campaigns for breast cancer, pampers, and UNICEF partnership, etc. Because marketing is well suited to companies that deal directly with consumers.
Conclusion
Content marketing, Affiliate marketing, and Social media marketing have proven themselves to be the most commonly used types of marketing in promoting services and Influencer marketing will always have its place in making your business visible on the social media space.
