Definition of Marketing Strategy, Function and 10+ Effective Examples

Business Market Growth
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A marketing strategy is a planned and structured way to attract consumers.

Whatever business you run, having the right marketing strategy will certainly help you continually get customers.

In this article, we will discuss what a marketing strategy is, its function, and, of course, 10+ examples of effective marketing strategies to implement in your business.

By implementing the right strategy, your business can achieve profits many times over.

No need to wait any longer; let’s dive right in!

What is a marketing strategy?

A marketing strategy is a plan that a business builds to reach its target market and convert them into consumers.

In a marketing strategy, there is information about the product value proposition, business branding, and clear market segmentation.

This means that you cannot market your product or service to everyone that is out there.

Because everyone has different needs and ways of communicating,.

That’s why, between one consumer segment and another, the marketing strategy can also be different.

Later, you will learn about the practice in the marketing strategy examples section.

Also Read: 5 Types of Marketing that Will Change the Fortune of Your Business

Apart from making promotions to certain target consumers easier, marketing strategies can also make it easier for you to coordinate with your team.

According to marketing science, promotional execution needs to become more focused and directed.

10+ Effective Marketing Strategies with Examples

There are many marketing strategies that you can implement for your business.

Here are 11 examples of powerful marketing strategies that are worth trying:

1. Implement Search Engine Optimization (SEO)

SEO is a marketing strategy that focuses on increasing a website’s visibility in search engines.

With so many websites on the internet, it takes a lot of effort to rank at the top of the Search Engine Result Page (SERP).

SEO techniques will help you increase organic traffic to your website so that you can increase sales and conversion numbers.

One way to implement this marketing strategy is to determine relevant keywords for each website page.

Keywords are words or phrases that users usually use when searching for information on Google and other search engines.

You can learn more in our upcoming article about how to research keywords.

After that, carry out on-page SEO optimization by inserting these keywords in the title, subheading, content and meta description.

Don’t forget to optimize images and set the page URL (slug) to contain relevant keywords.

2. Google My Business Listing

An example of an effective marketing strategy is registering a business with Google My Business.

Google My Business is a Google service specifically for business owners to promote offline stores.

The way to do this is by making it easier for potential consumers to find out complete information about a business.

From business name, company address, company telephone number, company email address, operating hours, company website, office photos, to customer reviews.

By registering your business on Google My Business, your business will automatically appear on Google Maps and other places, like in SERP.

Customers who want to come to your place of business will find it easy to get to the location of your business with the help of Google Maps.

Additionally, customers can read and leave reviews on your business profile.

That way, you can increase the trust of other potential customers in your business.

3. Social Media Marketing

Social media marketing is a marketing strategy that involves utilizing social media by creating content, interacting with the target audience, and promoting through advertising.

Social media can indeed help business people build direct relationships with customers.

That way, businessmen and businesses can easily build customer loyalty and trust.

Also Read: How to Increase Social Media Engagement and Its Importance for Business 

Here are three marketing strategy tips via social media that you can try:

  • Focus on the right social networking platforms. For example, Instagram is suitable for targeting a younger demographic, while Facebook is a better platform for a target audience over 30 years old.
  • Take advantage of the business version of the application. The business versions of Facebook, WhatsApp and Instagram provide various marketing tools that make it easier for business people to interact with customers.
  • Engage your audience. Reply to customer comments, hold giveaways, encourage the creation of user-generated content (UGC), and most importantly, listen to feedback from your customers.

4. Build a Business Website

Creating a business website can be an example of an effective marketing strategy.

With e-commerce website, you can introduce your business identity to a wider audience, thereby increasing conversion potential.

In addition, an e-commerce website makes it easier for you to promote the products and services you sell, as well as build a professional image for your business.

To make the process of building a business website much easier, use a Content Management System (CMS) like WordPress.

With WordPress, you can choose from hundreds of plugins and templates to create a website in just a few clicks.

5. Email Marketing

Email Marketing is one of the most profitable marketing strategies, with high conversion rates.

In fact, more than 60% of SMEs use email marketing methods to reach their customers.

Email marketing doesn’t have to be related to sales.

You can send a monthly newsletter and hold exclusive events.

To do list building, you need to create a subscription form on your website.

To make it more interesting, offer rewards for users who sign up.

For example, customers can get discount coupons or other attractive prizes.

Only then can you use the collected data to launch this marketing strategy to customers.

6. Have an Affiliate Program

Affiliates are an example of a business strategy where you provide product or service referral links to people who join your affiliate program.

How does this example business strategy work?

Every time someone buys your product or service through a referral link, the affiliate program member who provided the referral will earn a commission.

That way, both your business and the members of the affiliate program gain profits and the company’s publicity also increases.

7. Implement Influencer Marketing

Influencer marketing is a popular promotional strategy since the widespread use of social media.

An influencer is someone who can have an influence on society.

For example, celebs, YouTubers, Vloggers, and others.

The main benefit of social media influencer marketing is that your brand will be immediately recognized by the audience that follows that influencer.

This will simplify the process of capturing and building an audience.

To implement this marketing strategy, start by looking for influencers who target the same market as your business. Then, contact them to collaborate.

8. Upselling and cross-selling

By knowing customer needs, you can provide a better customer experience.

Efforts to improve customer experience can be done with upselling and cross-selling techniques.

Upselling is recommending higher-value items to customers at checkout.

Meanwhile, cross-selling is an effort to recommend products whose function is to complement the product your customer wants to buy.

9. Run Referral Marketing

The way the referral program works is like word-of-mouth promotion.

With this program, consumers will promote your product or service to friends, relatives or other relatives.

So that the product being promoted can be known more widely.

Through this program, consumers will receive rewards when other people join using their referral code.

A referral code is a unique code that is used to invite people to buy a product or join a platform membership.

When someone uses your code when registering or making a purchase, you will receive a reward which could be cash, points, discounts, or something else.

10. Provide Coupons and Discounts

As many as 94% of consumers look for discounts or promotions when they shop both physically and online.

Indeed, price is an important factor in attracting the attention of potential buyers.

Therefore, using coupon and discount tactics can be a marketing strategy that is worth trying.

The more attractive the discount you offer, the more people will be interested in buying your product.

With this marketing strategy, you will have great potential to increase conversions and traffic volumes.

11. Hold a Giveaway

Who doesn’t like being given free products?

Especially if you really want to buy and currently need the product.

This is why giveaways are a powerful marketing strategy.

Giveaways do not give you a profit.

However, this type of marketing strategy will introduce your brand to a wider audience and create a good first impression.

In practice, you can promote this event on various social media platforms and provide conditions for giveaway participants to disseminate information about the event.

Functions of Implementing Marketing Strategy in Business

There are several functions of marketing strategy, namely:

  • Accelerate company growth: This is because all marketing strategy execution efforts are carried out in a more measurable and systematic manner. So that the company can achieve targets quickly.
  • Increase brand awareness: With the right marketing strategy, more people will be exposed to information about brands and products.
  • Targeting the right market share: Marketing strategies can be used to target specific consumer groups that can contribute to profits.
  • Build a reputation: Marketing strategies, when implemented continuously, will create a reputation for a brand. So, make sure the message you convey is positive.
  • Maximizing the company’s resources: With a marketing strategy, companies can find out how much capital is needed to attract customers and how much reciprocity there is.

Which marketing strategy do you want to try?

The list of promotional strategies in this article is not only suitable for businesses that are just starting out but also for old players who want their products to remain top-of-mind on the market.

To exceed in marketing, you need to implement more strategies, but carefully.

So, that is it.

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