Common Marketing Strategies You Need to be Familiar with
By Christina Fiebich, Marketing Director
Marketing is constantly fluctuating towards new technology and cultural changes. While 95 percent of marketers know that multi-channel targeting is crucial to campaigns, fewer than half have the technology to capitalize on new methods that could help their campaigns stand out from the competition. With different marketing approaches being tossed around, it’s easy to get lost in the mix of buzzwords. Consider this a quick primer for you on the must-know-and-use marketing strategies marketers are taking advantage of this year.
This type of marketing has been dominating the industry for a few years now. It’s great for increasing reach and brand awareness with an audience that has similar interests as your brand. It also helps build brand credibility with your target consumers. Research has shown that 84 percent of marketers have at least one influencer marketing campaign in the works for the upcoming year. Whether it’s a small or large company, finding influencers that fit your brand standards and speak to your ideal audience is one of the most effective ways to position your brand and products.
Consumers are much more likely to purchase a product or service if it has been recommended by a friend. Consider creating a referral program for loyal customers with perks and incentives that will entice them to refer your brand and products to other friends. The Lifetime Value for new referral customer is 16 percent higher than non-referrals; which further shows the importance of a referral program for retaining more customers.
User-generated content marketing
Every marketer knows the importance of content marketing, but incorporating user-generated content is another great way to authenticate your brand. User-generated content is any content, whether photos, posts or videos, that fans of a brand create. It creates authenticity because it’s not coming from the brand itself. Millennials and Generation Z are especially interested in this kind of content marketing since it shows a better picture of the product, services, and brand. The best part is that it’s not a costly campaign. If you are risk-adverse, this may be a good avenue to take.