Every business needs the best marketing strategy for 2022 tailored for their brand to stay relevant in the marketplace.
The bottom-up strategy is the winning strategy that keeps your customer at the core of your product or service. But before we delve deeper, let’s break down some key concepts.
Have you ever wondered why you consistently post on social media platforms and share blog posts regularly yet don’t see any results with your marketing efforts? The problem isn’t what you’re doing; it’s why you’re doing it. Firstly, if a strategy does not back up your marketing efforts, that’s likely why you do not see results.
There should be a template that guides your content creation. This is critical because, when done correctly, it serves as support for your marketing plans.
To begin with, let’s understand some things about marketing before taking it a notch higher to understand the strategies.
Marketing is simply getting the word out to increase awareness of your brand. As business owners, we hope this awareness translates into new clients and increased income or sales. To promote your services effectively, acquire new clients and grow your businesses, understand the nitty-gritty of marketing; you have to be.
With marketing, like every other activity you focus on in your business, you need to analyze your actions consistently. Marketing makes sure you’re hitting the marks while maintaining systems and processes. For an effective system and processes, sales optimization comes top of mind. It would be best to avoid the marketing rut that comes with a lack of optimization of your client acquisition efforts.
Types of Marketing
Here is a quick rundown of the four types of marketing strategies. Use them to revamp your marketing plans, target audiences differently, and add spice to your campaigns.
Relationship marketing focuses on customer retention and satisfaction. This marketing enhances your relationships with existing customers to increase loyalty. Not only is it more cost-effective to market to existing customers, but it is also way cheaper. The longer you have a relationship with a customer, the more profitable they become.
Cause-related marketing or Cause marketing links a company and its products and services to a social cause or issue. This type of marketing implements a tactic that focuses on a company’s social responsibility. Cause-related marketing is a marketing method where businesses align themselves with social issues or beliefs vital to them and execute a campaign accordingly. Companies use the tactic to bring awareness to a cause and show social responsibility. And on the other hand, customers are easily won over because they can relate to the social cause of the brand.
Have you ever heard of FOMO? Fear of missing out. This sort of marketing thrives on this form of marketing. It creates a perception of a shortage that aims to entice customers to purchase out of fear that they may not get it in the future.
Before I understood what Influencer marketing was, I always thought celebrities were super friendly to pick random people’s businesses and rave about it. Well, bubbles busted! Some were marketing these guys without the ordinary person telling what was subtly going on. Undercover marketing would sometimes entail a brand using an influencer or actor or fake viral videos to drive sales.
Stealth marketing, also known as undercover or buzz marketing, is a marketing technique that advertises a product to people without them even realizing it.
A marketing strategy is a business’s template for developing a customer base for the product or service. Come to think of it, without customers, no matter how great your products or services are; you can not make profits. You can’t sell to yourself.
Effective marketing starts with a considered, well-informed strategy. It helps you define clear, realistic, and measurable marketing objectives for your business.
Importance of best marketing strategy 2022
There are so many ways to kill a rat, they say, but if you must avoid constant “hit and miss,” you must find what works best for you.
So, shaped by your business goals, your best marketing strategy finds its structure from your purpose. It’s the offering you deliver, how you will deliver it, and why your marketing efforts will help you achieve your company’s mission and strategic goals.
While many people think about jumping into action regarding marketing, having a clearly defined marketing strategy is incredibly important for your business growth. Once you have your strategy, you will be able to develop an effective marketing plan.
These strategies will affect the way you run your business. So they should be planned and developed in consultation with your team. It is a wide-reaching and comprehensive strategic planning tool that:
- explains your business and its products and services
- details the position and role of your products and services in the market
- profiles your customers and your competition
- identifies the marketing tactics you will use
- allows you to build a marketing plan (the delivery tactics) and measure its effectiveness.
A marketing strategy sets the overall direction and goals for your marketing. It is different from a marketing plan, which outlines the specific actions to implement your marketing strategy. A strategy could be developed for the next few years, while your marketing plan usually describes tactics to be achieved in the current year.
Types of Marketing strategies
For this blog post, I will broadly categorize the strategies into two types: Top-down and bottom-up strategies.
Top-Down Marketing Strategy
A top-down marketing strategy is a traditional marketing strategy. It is marketing, as we have previously known it to be:
where a business determines who it should sell to and how. And the customer base is mainly passive and spurred to take action once they hear the advertisement. For example, a top-down marketing strategy would include ads on radio or television. The executives of a firm usually determine top-down marketing strategies. It usually consists of what a firm desires to do and then determining how to do it.
Bottom-Up Marketing Strategy
A bottom-up marketing strategy focuses on discovering a workable strategy and then building on that strategy to create an impactful advertising campaign. Today’s consumer wants to relate to a product or service in a meaningful way, and a bottom-up marketing strategy is better suited to this. A bottom-up marketing strategy should focus on the target market and how better to create value for them.
The best marketing strategy
There is no gainsaying; the best strategies are anchored on the people and what they need. This strategy places them top on the brands’ priority list. Find where they are, how them the solution they may or may not even be aware of, and watch them get onboard your business offerings.