Do you know the marketing techniques? In the following article we will introduce you to this topic and explain everything you need to know. Do not lose the chance!
Marketing Techniques
In today's world, companies are increasingly struggling to publicize their product in the most effective way possible. The effort generated by companies is not only to make their product "look good" but to have the greatest impact on you.
All the marketing techniques used by companies range from deciding the target audience to which a product is directed to the different platforms on which the different products are going to be promoted. Marketing strategies determine each step to take during an advertising campaign.
What are marketing strategies?
Marketing strategies are all those guidelines or decisions to make in the sale of a product so that it can stand out in the market above all its competitors. These strategies are usually very structured and do not work in the same way for all companies.
Companies often have multiple products, each product has a target audience, and the way a product is sold to that audience is different than any other audience. Now, once located in the target audience, there are multiple ways to sell the same product.
However, as we mentioned in the previous point, companies with multiple products must determine which of them are more profitable and have potential for sale. Marketing seeks to generate a guide with which projects and products can be prioritized to achieve the commercial goals of the company.
Therefore, when we talk about marketing strategies, we are not referring to a series of predesigned steps or a miracle recipe. Marketing strategies involve a long and complex process that evaluates every aspect that includes the sale of a product in the market.
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Importance of marketing techniques
Marketing techniques determine the best path to take in pursuit of the business objectives of the company. Through these strategies, multiple aspects of presentation, channels, and products are evaluated to make the decision on the most functional way to position itself in the market.
Imagine being at location A and needing to catch a flight to quickly get to location B. However, instead of being an easy straight line trip it ends up being an odyssey in other directions that might (or might not) get to point B, This example indicates precisely the need for marketing strategies for companies.
Point A is the point where a company is in its reality, while point B is the goal that the company wants to achieve; you need a plan to get from A to B. Many planes try to get to the finish line first, many companies struggle to get ahead.
Without the right strategy, the plane could take the wrong directions, which would imply a loss of valuable resources such as time and money, as well as being even further than the starting point. Marketing strategies become the map that guides the plane to its destination and, thanks to it, the trip usually has the appropriate and precise coordinates to take to reach the goal.
Results of taking marketing techniques
Carrying out a whole process of selecting a marketing technique and then applying it can generate great benefits for the company. Starting with the maintenance and growth of the company, as well as increasing sales and maintaining them over time.
On the other hand, by using the appropriate strategies, the company and the product will be able to stand out above the competition, in addition to starting to build the brand in the minds of customers. Similarly, following the path set by marketing strategies positively influences the satisfaction of customer needs and expectations.
Marketing strategies help form a stronger connection between the brand and consumers. As the brand is built in people's minds, the analysis that goes into the strategies will also clarify what your ideal customers are looking for.
Marketing strategies are intended to bring a company closer to its goals in an effective way. Therefore, by taking the appropriate action plan, the company will be closer to meeting its objectives as it grows and develops in the market.
Steps to formulate a marketing techniques
To formulate marketing techniques there are many steps, many things to evaluate, it is a complex process. However, there are 4 steps that are necessary for you to formulate a strategy that can be tailored to your specific situation.
Step 1- Diagnosis and analysis
The first and most important of all is to make a diagnosis, that is, it is necessary to evaluate and analyze both the internal and external elements of the company. Everything that happens both internally and externally to the company influences the sales of the brand and, therefore, influences the strategy necessary to improve results and achieve objectives.
Since it is necessary to have a previous analysis, it will be necessary to take into account mainly aspects such as strengths and weaknesses, in addition to the conflicts that may exist in the company. This means evaluating the most outstanding internal aspects of the company precisely because the products that are sold abroad come from within.
Once the internal aspects of the company have been evaluated, it is time to place the magnifying glass and analyze the external aspects. From the products of the competition to the target audience you have, these aspects are necessary to determine the strategies to highlight the product in the market.
This diagnosis will provide you with the necessary information about your reality, covering intrinsic aspects that exploit, or improve while indicating the opportunities and threats that are abroad. The objective of the diagnosis is to start with a solid base of the situation, to know first-hand the terrain in which the company is moving, eliminating any assumptions.
Step 2 – Goal Generation
The next step to take is to create the objectives to achieve with a marketing campaign or project. As mentioned in the importance of strategies, they work like a map that takes you from point A of your reality to point B, the ideal situation.
However, before creating the map it is necessary to know which point B you want to reach. The objectives serve as the direction towards which the work of marketing strategies will be oriented.
It is necessary to limit that it is not possible to set any objective so that it is the ideal point at which the company wants to reach. The objectives should not only be wishes or intentions of the company, that could translate into objectives that do not go according to the identity of the company, or may end up being unattainable.
Smart goals
The approach of the objectives must be carried out in an intelligent, orderly and methodical way since it is a key piece. Therefore, it can be very helpful to take the acronym in English SMART (Intelligent) to help generate a guide that guides the approach of effective objectives.
S - Specific
The objectives must be clear and precise in terms of the action they entail. This means, therefore, avoiding the use of ambiguous expressions in the wording such as “Knowing the tastes of consumers”, this is what it means to be specific.
M – Measurable
The fulfillment of the objectives must present a measurable and verifiable character through a series of indicators that can be reviewed once the marketing project is finished. Doing this helps to clearly present whether the objectives were achieved or not.
A - Achievable
The objectives must be realistic, based on the reality of the company and, therefore, achievable. The objectives set from the intentions tend to present impossible results such as "Increase sales by 150%", the objectives must be anchored to the reality of the company.
R – Relevant
The objectives must be oriented towards fulfilling the identity of the company. It is essential that these objectives are in harmony with the mission and vision of the company, in this way it will be complete.
T – On Time
The objectives cannot have an indeterminate period of time, they need to have a target date in which they can be met. It is proven that, in most cases, goals that do not have a deadline are never met.
With that clear, you could now take a look at an example of a SMART goal put into action: Increase sales of product "X" by 25% in relation to the previous period in a period of 9 months.
This objective is specific, since it indicates exactly what must be done and what is going to be achieved, it is measurable because it places a verifiable indicator for the fulfillment of the objective. On the other hand, it does not present a huge result, but rather focuses on the reality of the company, also taking into account its identity and, finally, sets a deadline by which this objective must be ready.
It is not the same to generate a strategy when the objective is to create a bond with the client, than to generate a strategy when the objective is to increase sales. Diagnosis draws point A, objectives draws point B.
Step 3 – Construction of the strategy
Once the real situation of the company is clear and the objectives have been set correctly, it is time to design the way to achieve these objectives, that is, it is time to create the roadmap. At this point it is time to create the relevant tactics to achieve the marketing objectives that have been proposed.
Step 4 – Set progress milestones
Once all the previous steps have been completed, it is time to start setting milestones or small goals to measure the progressive progress of the objectives. Through these marks it is possible to observe the speed at which the result of a project is developing, be it negative or positive.
It is important to constantly monitor the progress of the marketing project objectives. Through these constant controls it is possible to monitor the progress or delays obtained and, consequently, make the pertinent decisions to fix or promote the processes.
Types of marketing techniques
There are multiple types of marketing tactics that can be applied in projects and here we are going to review just some of the many that you can use to achieve marketing objectives. The application of one or several marketing tactics is indicated due to the guidelines previously stated together with the capacity of the company.
brand positioning strategies
This marketing strategy seeks to achieve a good positioning of the brand with the main objective of being the first choice of consumers in the market. For this, it is necessary to take into account aspects such as the needs of customers, market research, consumer recognition or the price ratio in the market.
segmentation strategies
Through this marketing strategy it is possible to choose or, as its name indicates, to segment, the market to which it is going to be focused. In this segmentation we can find 3 classifications: Massive, differentiated and concentrated.
In mass marketing, companies try to reach as many customers as possible in the market, which is not highly recommended. On the other hand, differentiated marketing tries to do the same thing, but with different strategies for each group of people (youth, adults).
Finally, concentrated marketing only seeks to concentrate on a segment of the market, and direct the efforts of the brand to it in a concentrated way. The latter is one of the best strategies that small businesses can use.
portfolio strategies
Through this strategy, it is intended to determine which of the products or services that are being offered are actually viable for the company. A company can have many products, but that does not imply that they are all sold in the same way.
A product can have a large investment, but very little profit, therefore, this strategy serves to prioritize in the catalog of products and services that are offered those that work over those that do not.
digital marketing strategy
Through content marketing, we use the most famous internet platforms, such as social networks, to start filling them with information and promote the brand or product that is being offered.
Images and videos posted on internet platforms and sites such as social media can also be a great way to send information about the brand. The massification and global reach of the internet makes this strategy very profitable for reaching young and adult audiences.
People-to-people marketing strategy
Through this marketing strategy, we seek to optimize the quality of services and products to the maximum. From customer service, facilities or the product offered, each part of the sales process offers a high quality standard.
This is done with the aim of keeping the consumer happy as a client of the brand through good service. The loyalty strategy is intended to prevent consumers from migrating to the competition.
Similarly, by maintaining constant communication with consumers through social networks, or carrying out constant promotions and discounts, a good relationship is achieved.
This can lead to your customers becoming your main source of promotion, that is, your customers are the ones who inform and recommend your brand to other people. All companies want to have this result, however, it is only possible through quality, service and close treatment.
Content Marketing Strategy
Content marketing is also oriented towards promotion through information on the internet, just like the digital marketing strategy, but oriented in a different way. The content marketing strategy consists of promoting the product or services thanks to the creation of articles on blogs and writing sites that, in the same way, help to promote the product.
In this type of strategy, the creation of infographics that are directed to these blogs can be good options to spread information. Through this marketing strategy, articles related to trends, products, news or characteristics of products or services are usually published.
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