20 percent of new businesses fail within their first year of being open. Given these statistics, it’s important to know what you have to do to have your business succeed.
If you have any business experience, then you know the importance of marketing. Marketing is essential to promoting your business, but it’s not a one-size-fits-all industry.
If you have a company, then it’s important that you familiarize yourself with many types of marketing.
By doing so, you can learn which method brings in the most customers. Keep reading to learn which marketing strategies may work for you.
Acquisition Marketing
Most businesses practice acquisition marketing to some degree. Acquisition marketing is a marketing strategy that focuses on attracting new customers. It uses tactics such as search engine optimization to do its marketing goal.
Affiliate Marketing
Google searches for affiliate marketing have risen since 2016, peaking at 100 percent in June of 2021.
Even if you’ve never heard of this popular type of marketing, you’ve seen it in action. If you read an article online and see a link to buy a product, then you’ve experienced affiliate marketing.
Affiliate marketing is most effective for eCommerce businesses. These businesses have products to advertise. Also, with more businesses going digital, affiliate marketing will only continue to grow.
Brand Marketing
The most memorable businesses stick in our minds because they have memorable mascots on marketing banners we see on our streets and on the commercials on our televisions. Instead of marketing a product, brand marketing deals with marketing the personality of your brand. The end goal of this marketing strategy is to set up a personal connection with customers.
An effective way to engage in brand marketing is to get custom marketing signs. These help to put a face to your business. To order custom marketing materials to promote your business, click here.
Inbound Marketing
Inbound is the inverse of traditional marketing. Traditional marketing focuses on pushing out email advertisements and such in hopes of making a sale. Inbound marketing is about turning out high-quality content that attracts your ideal customer to your business.
Influencer Marketing
According to a 2022 marketing industry survey, influencer marketing is the top marketing trend. Like affiliate marketing, influencer marketing continues to grow in popularity as more business moves online.
With this type of marketing, a business finds a person with a sizable social media following most like the business’s target audience. The business then pays this person, or “influencer,” to promote their brand to their following.
And you don’t have to pay a large sum for a widely-known celebrity to endorse your brand. Rather, you can hire “micro-influencers,” or people with between 10,000 and 50,000 social media followers, to promote your product.
Find Out Which Types of Marketing Work for You
There’s no one universal marketing strategy that will work for every business. It’s important that you experiment with many types of marketing to find out which works best for you. By studying these marketing strategies, you can help make sure that your business is successful.
For more marketing tips, browse our “Business and Finance” archives.