Guide to marketing strategy unconventionally because if your company wants to achieve successful development, it needs to work tangible to increase its market share.
By increasing the market share, we mean a company must adopt a sound marketing strategy.
So planning a sound marketing strategy is vital for your business development.
In this article, we have compiled 10 effective and unconventional guide to marketing strategy with a hope to bring some help and reference for your business.
Price-appropriate strategy:
Price positioning is one of the important factor that affects the success or failure of your marketing plan.
The pricing factor for the consumers that are realistic and honest, the price level directly affects their purchasing behavior.
So how to come up with a price appropriate strategy?
First, the price of the product has to be recognizable by the consumers of your target audience.
Second, the value of the product is comparable to the price of many products of the same type.
Third, once you determine the sales price, the profit margin should be the same as that of your business for your so-called suitable audience.
Knowing and understanding your cost of production, customers, competition, profit objectives will help you determine an appropriate pricing strategy.
Pricing is challenging, however it should reflect the benefits and value your product provides to your customers.
Effective priority strategy: Marketing Effectiveness
You should know if your marketing is effective enough, are you reaching your goals?
You should have a KPI metrics to analyze the effectiveness of your marketing.
Sure, you can use traffic reports if you are into Search Engine Optimization, and use SERP to analyze your traffic.
Facebook Business has their own insights that gives you all the figures, and data to monitor your marketing campaign effectiveness.
Likewise, there are many other tools that helps you understand your marketing rationale.
The crucial factor for every marketing to be effective is the product efficacy, so understanding the efficacy of your product is the key.
Therefore, with effective priority, prioritize the usefulness, quality, and what value your product provides.
Brand promotion strategy:
The brand promotion strategy is to improve and enhance the various elements that affect the brand, through various forms of publicity, to enhance the brand awareness and reputation strategy.
You can make the most out of various tools available on the Internet, which brand promotion has routed more online these days.
So, social media is the number one platform you can consider.
The major advantage of using social media is that they are typically free, unless you promoted using ads.
Please note that every company is diverse and its up to your product niche so analyze if you need the social media branding strategies.
The other brand promotion you can use are the traditional brand promotion like banner ads, print, broadcast, telemarketing and direct mail.
Brand promotion requires both quantity and quality.
Seeking quantity, which is constantly expanding the popularity and by seeking quality, to continuously improving the reputation.
The stimulus source strategy:
This form of strategy is to regard your consumers as the source of marketing.
Like highlighting them thier benefits from the use of your products.
It can achieve this through social media especially the most popular one’s Facebook, and Instagram.
You can tag any of your user who allows you to highlight their profiles on your company’s social pages.
You can also make an unique hashtags and inform your customers to use the hashtags.
This way it helps you drive more stimulus in the community to enhance brand promotion, and awareness.
Dynamic marketing strategy:
Dynamic strategy is to monitor, inspect, and improve your marketing measures as per your marketing goals.
Some of the various elements in the market, so that your marketing strategy adapts as per the change in the market.
The essence of dynamic marketing strategy is to grasp the changes of various factors in the market, and to grasp the changes of various factors,
Therefore, it is necessary to conduct a market research before you form a marketing strategy.
Wrapping up
There are various ways one can make a marketing plan, strategize, and execute.
Most of the time we lack to educate about our products, and just go in the quest of selling or generating more leads.
This lack of product information havocs many plans, and strategies that you design.
With rapid evolution of new technology tools, there has been considerable buildup on the marketing industry.
So, educating oneself about the new trends converges to your marketing strategy to make it very solid.
