Marketing is a challenging process.
Despite its difficulty, one must not forget that it is a necessity.
Marketing cannot be underestimated.
Companies spend millions of dollars annually to market their products in different channels like TV, radio, print, and on the web.
But how do you get started?
Today, I want to show you several types of marketing strategies that you can apply on your online business.
By the end of this tutorial, you should be able to pick one strategy that best fits your niche.
The strategies I will discuss are:
- Email Marketing
- Social Media Marketing
- Influencer Marketing
- Search Engine Marketing
Let us get started!
Email marketing is a strategy that involves sending promotional emails to your subscriber list.
The purpose of this is to efficiently convert visitors from being subscribers into paying customers.
Email marketing is a basic but efficient strategy.
This is supported by HubSpot’s study which shows that 86% of consumers are interested in getting mails from brands that they like.
Integrating this type of digital marketing to your business is quite simple. See the steps below:
Build your email list
Your email list refers to your website’s subscribers.
These are people who gave their email address to you in exchange for a lead magnet.
To build an email list, you need two things:
- Sign-up Forms – you can create either a pop-up or a static sign-up form and embed it on your website. Most WordPress websites and other web-building platforms have a default email subscription system. If you want a more robust one, you can use GetResponse—a powerful autoresponder tool for email marketing.
- Lead Magnet – a lead magnet is an offer. You give this for free to your site visitors in exchange for their email address. A lead magnet could be anything, but this has to be of value. Examples are eBooks, cheat sheets, guides, and more.
List segmentation is the process of sorting your list under specific categories.
For example, you can segment the email addresses by country, or by group depending on what lead magnet they subscribed to.
This helps you identify which product is best for who.
You can group them according to their demographical data, budget capabilities, or any trait that has similarities with others.
Compose your message
Your email, like every other content on your website, must be thoroughly formulated.
This will play the biggest role in your market’s purchasing decision.
What you say in your email should be relevant to your business and is written in a way that is both informative and commercial.
Once you have your subscribers and mailing message, you can now go on and send emails.
It is recommended that you send just enough mails to not look either spammy.
Send too much and people may unsubscribe.
You can start small by sending twice a month, and then gradually making it as frequent as twice to thrice a week.
You can send emails manually, or you can use an autoresponder tool to automate the whole process.
Social Media Marketing
Social media has and is still a big part of people’s lives. Facebook, Instagram, Twitter, and the likes, are only some of the sites that people use on a daily basis.
Social media is a gold mine for marketers. Social media sites are where people can find your products.
You can post updates in text or media formats, or a combination of both.
You can also send and receive messages from your market.
But how do you start with SMM marketing strategy?
Social media marketing will involve a lot of planning. There are a lot of factors that you need to consider, and we will look at a few examples below.
- Brand Identity – The first thing that you need to take into consideration is your brand. You need to define your values, your mission, and the things that you want to convey to your future audience.
- Content – You should also plan the content or the marketing message that you will be putting out. It should contain enough information about your product or service. More importantly, what problem are you trying to solve?
- Target Market – Every social media has a certain audience that it appeals to. This can be based on features or content. Knowing exactly who you want to reach will help you land on the right platform.
- Platform – Lastly, the social media site that you will be focusing in will also affect your strategy’s effectiveness. Gather and study all the data you got from the planning process and use it as basis in choosing the site.
To make your social media marketing effective, you have to do two main things:
Your marketing strategy will need a push in advertising.
Informing others about your social media page can be a big help in attracting your audience.
You can do this by using your own account to spread the news or personally telling your friends and family about your business.
Publish marketing posts
Once you think you have enough clients in your base to work with, you can now go on to publishing welcome messages, posts, and updates about your business.
This marketing strategy is very cost-efficient because most social media sites won’t require you to pay to register or use their features.
For our third marketing strategy, we have advertisements.
Advertising is means you have to pay money to specific platforms to get your brand out there.
Online, you can do this via Google, Facebook, Instagram, and other sits.
Here are some of the most effective ways to advertise:
- Social Media – the most prominent is Facebook, but you can publish your ads in other channels like Twitter, Pinterest, and other sites.
- Search Engines – search engines like Google, Yahoo!, and Bing are the best. If you advertise on these search engines, you can also show your ads to people’s email inboxes.
- Websites – you can “rent” space from other sites. These are ad spaces where you get to place a banner, and then you pay the website owner regardless of traffic and clicks that you get.
Before you decide which platform to use on advertising, you have to know where your target market is congregating.
If your product is a multi-vitamin, it does not make sense publishing ads on blogs about dropshipping.
The next effective method is called influencer marketing. An influencer is a person who has a following, either on social media or their own websites. Influencers are people who have the power to make an impact towards the audience’s decisions.
For this reason, influencer marketing has been a trend especially for emerging brands.
This type of marketing strategy can be considered as a collaborative work between you (the brand), and the influencer.
To make it work, consider the things listed below.
Set a budget
This type of marketing is expensive. Why? Because you are dealing with celebrities.
The cost of marketing via an influencer has something to do with how big the influencer’s name is.
For example, working with Neil Patel can cost you thousands of dollars.
But working with someone who has only 1,000 followers is not going to cost that much.
Set aside a budget that you are comfortable with.
Also, make sure you assess if this budget makes financial sense.
Set your goals
After setting your budget, you can now go on to defining the things that you want to achieve through this strategy.
This is what you will be discussing with your partner influencer.
This step also means figuring out what kind of market you want to reach.
The discussion between you and the influencer will revolve around these goals.
Your goals will help you and the influencer determine how to position the product, how often the influencer will post the product, and what kind of marketing strategy he will use to convince to buy.
Find an influencer
The last step is to find the right influencer to help you.
Finding an influencer may sound like an easy task, but this is much more complex than it sounds.
You have to consider factors like relevance, their rate or cost, the number of their followers, and the platform that they work on.
It is very important that the individual has extensive knowledge about your niche and product to avoid misinformation.
Search Engine Marketing
For the last marketing strategy in this article, we are going to talk about Search Engine Marketing.
SEM is a marketing strategy wherein an entrepreneur or a brand pays search engines like Google and Bing for their advertisement to be placed first on search results.
This is not to be confused with Search Engine Optimization or SEO because this only involves the use of keywords and does not directly affect the website with quick results.
Here are some steps to get you started.
Search for keywords
Keyword involvement plays a huge part in SEM.
Because of this, you have to search for a keyword about our product that has a high search volume.
The keyword you choose must be trending, which means there has to be interest on this keyword for a long period of time.
You can do this by using certain service providers that will allow you to have access to search engine data.
Some of the software that you can use are Google Trend and WordStream’s Keyword Tool, both of which are free of charge.
Bid on a keyword
For this, you need to know the concept of Ad Auction. This is what you need to participate so you can put your advertisement on top of the SERPs.
This works exactly like an auction because you will be competing with others who want the same keyword as yours.
The winner will be decided by Google by considering factors like the amount you want to pay, the interest of the user, the time of day, the location, and many more.
Once you successfully win the auction and your advertisement efficiently pops out from the search engines, it is now time for you to monitor the analytics.
Check if it is bringing good results. If not, take a look at the potential causes of failure.
Tweak your ads, do A/B testing, and then re-run the ads.
Summary: Types of Marketing Strategies
Content marketing is an exciting thing, and it is equally difficult to do.
Creating a product or a dropshipping store is the first step to entrepreneurship.
Marketing is another beast that you have to deal with—you need to do this effectively and efficiently to be able to convert people into paying customers.
One of the best things you should do is to pick one or two marketing strategies.
Master both, and make sure you get positive results before moving on to new strategies.
This way, you already know how one strategy works before you experiment on another thing.