A marketing strategy is a business’s approach to how it will reach its desired new customers.
However, there are many different types of marketing strategies, so how many of them will actually work for your business?
What types of marketing strategies should you choose to pursue and why?
Read on as we share this ultimate guide for the types of marketing strategies you can use for your small business.
These all center around digital marketing, all of which we offer as a service here at LYFE Marketing.
5 Main Types Of Marketing Strategies For Your Business
Social media marketing is one of the most popular types of marketing strategies. And, it’s also one of the most effective to build awareness and increase sales.
And it’s not hard to understand why when more than 2.8 billion people use social media platforms.
That’s approximately 37% of the world’s population!
This huge number includes people from all age groups. In fact, even children as young as 10 years old have started to use social media on a regular basis.
In fact, all reputable digital marketing news sites support social media marketing.
According to WeAreSocial, SMM is almost guaranteed to improve your level of engagement and brand awareness.
But the biggest reason for the widespread adoption of SMM is its ease of use and low barrier to entry.
The value per dollar spent on SMM is also excellent.
And social media isn’t only limited to social networks like Facebook.
There are also social media networks that cater to professionals. For instance, there’s LinkedIn, which is the most popular one.
LinkedIn is great for helping professionals to build long-term relationships. Thanks to the relaxed nature of social media.
Social media also encompasses a wide array of places where people are social and interact with each other.
Many of these places present opportunities for businesses too.
So no matter who your target audience is, you’ll be able to reach them and interact with them!
But despite the fact that it’s one of the best types of inbound marketing strategies, that doesn’t mean it’s always easy.
But, keep in mind that although there are some challenges that social media poses…
…these can all be overcome, especially with some help from the experts.
Social Media Marketing Challenges
As we said, there are a lot of marketers on social media.
According to an AdWeek survey, more than 88% of companies in the U.S. use it. So you will have to invest a lot of time to compete with them.
This is an important thing to keep in mind for business-to-consumer companies.
So you can work with social media experts and influencers if you want to save time.
These people can help you cut through all the white noise or assist your viral marketing tactics.
To many businesses, time is as precious as money.
And you’ll have to spend a lot of time each week doing the following marketing techniques:
- engaging with clients
- answering questions
- posting high-quality content on a regular schedule
Part of the learning process is making mistakes. Mistakes like:
- Allowing your message to get misconstrued.
- Your CPC (cost per click) for social media advertising gets out of control.
- Reading your audience wrong.
You might find that the learning curve is too much for you to handle.
This is another reason why working with a social media marketing agency can be beneficial.
Social Media Marketing Advantages
Now let’s talk about the main advantages of social media marketing and why it’s one of the best types of marketing strategies for small businesses.
Ease Of Use
The easier the platform is to use for you and your audience, the better as this will help in your relationship marketing.
That’s because if it’s easy for them to use, then they’re more likely to be spending a lot of time there!
Advertising on social media is done with a PPC model.
According to AdEspresso, the average PPC cost is only $0.28. And you will only pay that when users take the desired action.
SMM forms a symbiotic relationship with your other marketing efforts.
You can combine it with other forms of content or brand marketing like photos, paid media, webinars, videos, your website links, etc.
According to psychographic data, social media targeting is unmatched targeting.
You can laser-target demographic by any metric imaginable (personality, habits, interests, location, etc.)
This is beneficial for your direct marketing especially if you have new products to promote.
It’s for these reasons that SMM is among the best form of marketing strategies for reaching your target audience and assisting them in their buyer’s jounrey.
You have complete control over who will see your ads, saving you time and money.
According to Dreamglow, 71% of customers who had a positive experience with a company on social media…
… are likely to recommend it to their friends and family.
What does this number show?
It shows that building brand identity and long-term relationships with customers and clients will definitely help you in the long run.
It affects their buying behavior. So if you want to develop your public relations and customer retention, this is the way to go.
Being on social media and showing everyone that you’re human is what your brand strategy is all about.
Doing so can also increase your word of mouth marketing and will attribute to your business growth.
Measure Your Success
It’s getting easier and easier to track interactions on social media (tweets, downloads, likes, etc.)
And these are pretty effective metrics for measuring success.
All you have to do is compare your most successful metrics to your profits and then you can see which of your efforts produce the best results.
2. SEO (Search Engine Optimization)
SEO refers to how you can get free and organic traffic to your website.
If you get to the top or at least page one of the SERPs, then you’ve succeeded at SEO.
Long Term Strategy
Getting on the first page of search engines takes time and patience.
It’s not a one-time marketing plan that you can create, put in place, and then let run on its own.
You’ll have to fine-tune your SEO efforts on a regular basis…
…if you want to make your website rise up on the results pages.
We touched on this in the last section, but it should be said again – SEO is not instantaneous like, say, paid ads are.
With paid ads, you will always see an increase in traffic while the ads are up and running.
SEO also has a lot of competition. SMM does too but in different ways.
With SEO, not only will you have to outrank thousands of other websites, but you’ll also have to keep your position at the top of the search results.
This may prove challenging because there will always be competitors who will observe your SEO strategy and try to copy it.
Thus, you should always stay up to date with the latest SEO tips and changes.
Too Much Business
Yes, you read that right. It’s actually possible to get more customers than you can handle from SEO.
This is even more likely to occur for startup businesses.
To prevent this from happening, make sure that you have your business set up, and do your market research so that you can handle an influx of new leads.
This is the biggest advantage of SEO. And, not much more needs to be said.
SEO will bring more visibility to your business, and this will mean more revenue for you.
Also according to Moz, web searchers are 8.5 times more likely to click an organic (free) listing than a paid result.
So the visibility of SEO is worth more than the visibility PPC ads give you.
SEO helps you build trust with potential customers and also with search engines. Why?
Customers are more likely to trust your business if you rank at the top of the search results.
Search engines will also start to trust your website as you rank higher.
Giving your website more authority and making your future SEO efforts even easier. This is the snowball effect in action.
SEO can give you continual free traffic to your website which isn’t the case with PPC.
That’s especially true if you consistently publish blogs and submit your website to business listing platforms.
Although that’s not to say that PPC doesn’t have its uses. It does, and that’s what we’re going to talk about below.
PPC is one of the costlier types of marketing strategies, but the return and conversion rate is worth the cost.
You pay a fee each time one of your ads is clicked.
And one of the main reasons for the widespread usage of PPC advertising is how much it’s promoted by Google, Bing, and Yahoo.
It’s easy for these reputable companies to gain the trust of business owners.
But of course, these companies are in it to make money (just like you!).
With that being said, that doesn’t mean that you can’t come out ahead with PPC!
After all, these companies want you to succeed so that you’ll keep using their advertising tools.
Keep these facts in mind for PPC:
- Be sure that you place your ads in a prominent position and let your call to action entice visitors to come to your site, meaning they click your ad.
- The price you pay per click will depend on your chosen keywords as well as the demand for what you are providing.
For example, if you are using PPC ads in the legal industry, then you can expect to pay a very high CPC!
- And also keep in mind that prices can fluctuate by the minute, like the stock market.
First, let’s talk about the main challenges of PPC.
Ignoring Sponsored Ads
A Google survey recently revealed that 85% of people claim to ignore sponsored listings.
But the more you make your ad look like a regular listing than an ad, the greater response you’ll receive.
Advertisers compete for the top ad position.
So, advertisers can sometimes get into races to the bottom where no one wins in the end (except the search engine).
That’s why it’s important to always stay calm and pay attention to the numbers.
Charge For Each Click
This is worth keeping in mind. Clicks run up fast, and you’ll need a pretty heavy budget to get the most out of PPC.
For most small business owners, this is expensive.
Every Click Costs
There is a slight distinction in this point compared to the one above.
Clicks run up fast because, unfortunately, even if users are searching for fun, you’ll still have to pay.
This is why you need a great combination of:
- keyword management,
- compelling ads,
- clear CTAs, and
…optimized landing pages to get the most out of all clicks.
In summary, every piece of your PPC campaign has to work together.
That includes the keywords that people are searching for that match your business, as well as attention-grabbing ads.
With PPC, you can get up and running and get targeted traffic in less than 48 hours.
SEO can take 6 to 12 months before you start getting targeted traffic for competitive keywords.
But the best thing to do is combine SEO and PPC together – they complement each other very well!
Track Your Ads In Real-Time
Search engine marketing, like social media PPC, also offers excellent ad tracking features.
The detailed levels of tracking will paint a clear picture of who your viewers are, which includes demographic and profiling data.
Retargeting means re-showing your ads to your previous website visitors.
This is one of the most effective types of marketing strategies for newer businesses…
…that haven’t gained credibility and trust from people yet.
After all, not everyone is convinced the first time around.
But planting a seed in their heads over and over again is a good idea, and it works.
Local And Global Reach
PPC is one of the types of marketing strategies that can catapult your business in front of local and global audiences.
Needless to say, the more your business is “out there,” the better odds you’ll have of getting new and repeat customers.
4. Email Marketing
Email marketing is one of the types of marketing strategies that work far better than its traditional counterpart.
For one, gathering email addresses is much easier than collecting mailing addresses or phone numbers.
And two, the costs are much lower because there are no printing and postage costs with email marketing.
Sending emails is free by comparison!
Even though email marketing sounds great compared to the traditional mailing…
…that doesn’t mean there aren’t mistakes and pitfalls that can make you lose customers.
We’re going to go over some of these challenges and how to avoid them.
Noticing a trend? Yes, all types of digital marketing strategies have a lot of competition.
But that’s because they work so well!
Anyway, competition is inherent to email marketing.
Most people get hundreds of marketing emails every day from different companies.
This is thanks to bulk email marketing programs that can send hundreds of emails out in an instant.
It’s a big reason why many companies consider a 20% open rate for an email to be excellent.
20% may not seem like much, but when you see that 20% of people take action and make a sale, it becomes more than you think.
If you’re not careful, email marketing can hurt your brand image.
For example, if you’re sending out hundreds or thousands of emails to people who aren’t already on your mailing list…
…they will consider your emails to be unsolicited spam.
Buying email lists and sending emails is the easier path of least resistance.
But, it can be harmful to your image in the long run and also illegal if the user did not agree to receive emails from you.
To avoid being labeled as a spammer, only send emails to people who have opted into your mailing list already.
And if you care about your brand image, don’t buy email lists.
Email marketing is one of the types of marketing strategies that only works if you do it on a regular basis.
Inconsistent sending reflects on a negative note for a business. And with that being said, you also must balance how many you send out so that you aren’t spamming.
Ease Of Use
This is also a challenge because it’s a double-edged sword.
If it’s easy for you to send and receive emails, then it’s also easy for your readers to unsubscribe from them.
That unsubscribe link will always be there. If they get annoyed or your content is not relevant, all they have to do is click it.
Approximately half of all internet traffic comes from a mobile device. To leave a good impression, your emails must have a responsive design.
Because of the nature of email marketing, it’s impersonal compared to other types of marketing strategies.
Now having said that, you can still improve personalization in many ways.
Some examples include using first name tags, city tags, etc.
But this doesn’t make up for the lack of personalization completely; people know that you’re sending a template email.
The only way to make up for this negative aspect of email marketing is to write valuable content.
Projecting a professional appearance can be more challenging with email marketing.
For example, if you’re writing emails in a hurry, you might make grammatical mistakes or spelling errors.
This can leave a bad impression on your audience.
Now let’s look at some of the advantages of email marketing, of which there are many!
All the challenges are only possibilities that can be avoided with due diligence and good business practices.
The following reasons are why email marketing, in the right hands, is one of the best types of marketing strategies for small business owners.
You can track your emails to see which ones are received, which email addresses are no longer active, and which subscribers opted out of your emails.
It’s easier to measure the effects of an email campaign than a standard mail campaign.
With almost every email marketing platform today, you can see which emails are engaging people most.
This information will let you know if you’re reaching your intended target audience.
It will also show you if your other marketing efforts are bringing in the right people to your website.
Email marketing offers superior targeting options. It allows you to tailor different emails for different demographics.
A new marketing email can be made and sent out in a few hours and be received by millions of people in a matter of minutes.
With email marketing, you have the power to respond to new happenings in your niche.
Email marketing can help your brand if done right. Doing it right means directing people to your website or marketing funnel in your emails.
This will keep your business in your readers’ minds. And when they’re ready to buy something that you provide, they’ll think of you first.
But you may be wondering how you can direct them to your site without coming across as a pushy salesman?
Simple. Don’t be a pushy salesman.
Offering sales, giveaways, referral programs or loyalty programs, and discount codes to bring visitors to your site is fine on occasion and perfect for your event marketing…
…but a surefire way to get visitors to your site is to offer up some freebies. This is worth doing because you’ll be building a loyal customer base.
And oftentimes, a loyal customer base is willing to drop more money on a brand they like, even if it’s more expensive than the other options.
You can send out thousands of emails every month for only a couple hundred dollars (or less!) per month with some platforms.
For most businesses, the revenue this generates is enough to pay for the cost of sending the emails.
If someone likes what’s in your email, all they need to do is “forward” it to their friends/family and boom – free exposure!
5. Content Marketing
Content marketing is different from the other types of marketing strategies.
It’s different from traditional advertisements, offline marketing, and from humorous posts on social media.
Content marketing can influence someone’s thoughts without them even knowing it.
But it does need a lot of time, dedication, as well as some skill in writing.
Content Marketing Challenges
The first thing that people get stuck on with content marketing is what to write about.
Our best advice for blogging or content creation is to do some research about your audience and devise a plan.
Create a content marketing calendar and plan out your writing topics in advance.
Topics can revolve around FAQs, challenges your clients are facing, or even their success stories.
As you can see from the previous point, content marketing is a bigger commitment than the other types of marketing strategies.
And it’s something that needs to be done on a regular basis.
But if you can’t keep up with writing content, then there’s no shame in hiring someone else to do it for you.
Like SEO, content marketing is a long-term strategy for success.
A good example is to picture a potential customer for your business who often reads your blog.
It may take them a year of reading about your product or service before they decide that it’s right for them.
So if you don’t see an immediate surge in new business, don’t give up on content marketing!
No matter how slow the result is, it is still affecting your buyer’s journey.
Content Marketing Advantages
There are some big advantages of the long-term types of marketing strategies. Here are the biggest advantages of content marketing:
Content marketing is one of the best types of marketing strategies and its ultimate goal is to keep an audience engaged.
And when someone is ready to buy something that you offer, they’ll think of you first because you were already a useful resource for them.
It enhances their customer experience. So when someone is ready to buy something that you offer.
They’ll think of you first because you were already a useful resource for them.
To become a resource for them, you’ll have to do your best to stand out. Product reviews, manuals, and videos are some great ways to do this.
In fact, based on a recent study, it was stated that 90% of the online consumers surveyed said that…
…watching product videos helps them make purchasing decisions.
Also, 37% of them prefer to watch full online videos about the brand they’re eyeing.
So if you are running an e-commerce store, be sure to include some how-to or tutorial videos in your content.
Doing so will better showcase your product and increase conversion.
Regular content marketing also feeds into SEO, because it shows Google that your website is active.
The reading time of visitors on your website will also show Google that your website is trustworthy.
Create educational and relevant content to show your audience your:
- skill, and
In the long run, they’ll be confident enough to take the next step.
The key thing to remember is this – social media will make people like you, and content marketing will make people trust you.
So don’t squander the opportunity to build trust with your audience through content marketing.
Your writing shouldn’t be very promotional, especially if you are into affiliate marketing.
But instead, should provide insights on common questions and fears that you often see in your target audience. Acknowledge their pain points.
If you’re a non-profit organization, this can help your cause marketing and generate more support from your readers.
For businesses, you can create case studies featuring your previous customers or clients as social proof.
Additional Types Of Marketing Strategies You Can Utilize
1. B2B marketing
B2B marketing is the process of selling your products or services to another business or organization.
Lead generation is usually the marketing goal of this strategy.
2. Conversational marketing
Conversational marketing is an approach to marketing that uses conversational AI to connect with your audience through one-to-one real-time interactions.
Some examples of it are using live chat, chatbots, and messaging apps.
3. DIversity marketing
Diversity marketing is a diversification strategy that aims to connect and reach a wider variety of people within your target market.
It includes various subgroups based on:
- religious beliefs,
- cultural differences,
4. Guerilla marketing
Guerilla marketing uses unconventional, low-cost marketing tactics to promote a brand or product.
It’s a great alternative to traditional marketing which aims to build brand awareness.
5. Local marketing
Local marketing is a marketing strategy that is targeted to customers…
…within a particular radius of the business’s physical location like a coffee shop for instance.
It is also known as local store marketing or neighborhood marketing.
And its marketing goals are to drive traffic to the store and get a business’s products or services in front of the local community.
6. Mobile marketing
Mobile marketing is any online marketing activity that promotes products and services via mobile devices. Some examples of mobile marketing are:
- Sending text messages (SMS marketing)
- Mobile app marketing,
- Quick-response barcode,
- In-game advertisements
- Mobile banner ads
- Proximity or Bluetooth marketing
- Voice marketing
It also uses different marketing channels to create marketing campaigns based on the user’s location.
Here are some other types of marketing strategies.
- Video marketing
- Influencer marketing
- POP marketing
- Scarcity marketing
- Undercover marketing
- Stealth marketing
Why The Focus On Digital Marketing?
A solid digital marketing strategy is very cost-effective for small businesses.
That is when compared to the more traditional ones like:
- face-to-face sales talk,
- radio ads,
- direct mail,
- newspapers, etc.
But aside from cost, what are some of the other benefits of digital marketing?
Here are the main ones:
- It’s easier to measure the results of your marketing campaigns. You can see if your strategy is effective or not.
- You can reach a wider audience on the internet than you ever could with a local billboard or newspaper ad.
- You can also engage with your target audience and encourage them to take the desired actions…
…something that’s impossible to do with traditional advertising methods.
And this is why our focus is on digital marketing. It’s how we help small businesses succeed in their goals.
How To Determine The Best Marketing Strategies For Your Business
If you want to determine the best types of marketing strategies for your business…
… you first need to ask what is the most necessary for you. For instance, conducting new market research to find the 4 Ps of marketing.
A big business can afford the traditional methods of advertising.
So, those types of marketing strategies can sometimes work well for them. They likely already know their target audience.
Or even have already built up an engaged following and could benefit a lot from more exposure.
But what about a small business? What works best for them?
If you’re a small business owner and want to become a big business someday…
…you need to learn your target audience and build up an engaged following.
And to get exposure in the most affordable way, digital marketing is the way to go.
Now after looking at all the options, you should be able to choose the best ones for your business.
As you can see, all these types of marketing strategies have great synergy together.
And it’s up to you to decide which ones fit you and your business best.
But if there’s one thing you should take away from reading this.
It’s that digital marketing trumps traditional marketing in every aspect for newer, smaller businesses.
Still need help deciding what to do? Contact us and we’re here to help!