Different Types of Marketing
Your business’ success hinges on offering in-demand products or services. However, no matter how innovative your offerings are, how well you market them will significantly affect your success. Working out your marketing strategy is key, so, here are five of the best marketing types.
Pay-per-click advertising is one form of advertising that diverts from organic methods. Instead of attempting to lure your audience to your website, you only pay for the visits you receive. It works by advertisers promoting your site in search results and every time a web user clicks on their link to your product or service, you pay a fee to the advertiser.
This is one of the most financially secure ways of marketing because you only pay for the actual visitors to your site. In most cases, if just one of up to 100 of those that click actually make a purchase, PPC advertising is a worthwhile investment.
Influencers wear the royal crowns on social media and YouTube. These people have collected a large following of people who adore them, trust them and hang off their every word. Companies will pay influencers to promote their products and is one of the most contemporary strategies to market your product or service.
Affinity marketing is a way of marketing your product via another business. This is a mutually beneficial relationship because it can expand the audience of both businesses and offer a crossover of customers. A good example of affinity marketing in action is putting fast-food restaurants or independent bakeries inside large supermarkets.
What better way of marketing than letting your customers do the legwork for you? By offering refer-a-friend-style promotions, customers can spread the word of your brand or business without having to do much. Your customers become walking and talking adverts and much like PPC marketing, you only pay when it works.
Affiliate marketing occurs when one business pays another business to market their products. This is usually done by professional affiliate marketing companies rather than random businesses. These affiliate marketing businesses already have access to a large audience and can be a solid return of investment over time.
How to Know Which Strategy to Choose
Some types of marketing, despite being a worthwhile investment, cost too much upfront. Therefore, it is vital that you select the best marketing strategies for your business. To do this, consider your market and where they frequent most. Are they glued to social media? Do they interact with companies that are offering affinity marketing?
Don’t forget that your budget will also have to be factored into this decision. Startups tend to lean towards methods that spend resources and time over money, such as social media marketing.
It’s important to remember that without establishing your business, implementing all the best marketing strategies at once still won’t give you the edge your business needs to get ahead. Brand awareness is important, whether it’s promoting your business online or purchasing branded notebooks for your office as well as your customers.