In the current business world, a company’s marketing strategy is more important than ever before. This is because the way that consumers interact with businesses has changed dramatically in recent years. With the advent of the internet and social media, customers are now able to connect with businesses in a variety of ways.
But does the traditional marketing strategy still prove effective in today’s market?
Well, traditional marketing strategies were effective at the time, and many of them are still in use today, but as we discuss earlier due to changes in the market and the advent of the internet and social media, Modern Marketing Strategies are proving to be increasingly important in your business growth and helps your brand be more recognizable. Modern Marketing Strategy is a dynamic mixture of cutting-edge new strategies and old strategies that have been reimagined as new ones.
A recent study by the Harvard Business Review found that companies who focus on modern marketing strategies are 5 times more likely to generate a significant return on investment for their business as compared to traditional marketing strategies.
In light of the vast array of marketing strategies available today, it may be difficult for you to identify the ones that will benefit your business the most. Below are 7 highly effective modern marketing strategies we have outlined and explained in this blog post to help you improve your brand’s bottom line and boost the growth of your business.
1. Use the 40/40/20 Rule
Marketing is about painting a picture of your business so that customers can envision themselves using or consuming your products or services. The 40/40/20 rule is an interesting take on how to create compelling marketing strategy. It’s a perpetual puzzle to find ways to attract customers and make them feel like they have no choice but to buy from you. This can be achieved through these 3 key steps:
- 40% of the work is finding the right audience – The challenge for any marketer is to identify the right audience and then craft a strategy that resonates with them. A new modern marketing study has found that 40% of the work in marketing is spent on finding the right audience because without the right audience, even the best marketing strategy will fail. This underscores the importance of carefully targeting your marketing efforts to ensure that they reach the people who are most likely to be interested in your product or service. Once you have that information, you can start crafting your marketing message and reaching out to them through the most effective channels.
- 40% providing a compelling offer – A study from Business Marketing shows that the number one reason consumers bought a product was because they had an irresistible offer. This means that marketers need to provide a compelling offer and make it available whenever possible. It can be accomplished by placing an offer right at the top of your page, adding it in your email, or sending a coupon code on social media. This is the other 40% of a modern marketing strategy that attracts customers towards your brand and services and motivate them to take action.
- 20% creativity in the way you are communicating – When it comes to communicating with your customer in a modern marketing strategy, the rest of 20% is creativity that can be used to get the attention of your customer and make them take a second look at your company’s message. Creativity is important because it allows you to go beyond the traditional marketing techniques using different mediums and messages. For example, Apple’s success relied on their creativity in making an innovative product; telling stories about their product and its features; and showing people how it changes your life. So, when you’re trying to differentiate yourself from your competitors, try adding a healthy dose of creativity and personality.
2. Do influencer marketing with a trusted influencer to promote your brand
Influencer marketing is a great way to engage your target audience and spread the word about your brand. Working with a social media influencer can be more cost effective than traditional forms of advertising because it is the preeminent way to promote your business and boost awareness about your brand.
A study by Weber Shandwick and KRC Research found that 55% of consumers are more likely to buy a product if it is promoted by an influencer they trust.
It is said that Influencer Marketing is the Next Big Thing in upcoming years. Reaching last-mile audiences through influencer marketing is a great way to increase sales. In light of the fact that traditional marketing provides a generalized approach to marketing your brand, influencer marketing offers an option that allows you to target your marketing efforts directly at the target audience or niche market.
3. Placement of products
Investing in product placement in the work of content creators is another online marketing strategy that is on the rise. If you consider video – many YouTube channels today will feature your product in their videos for some fee, provided that it does not adversely affect their audience. Dropping products into scenes and using them as props are two ways to ensure more viewers engage with your video content. The product placement should be refined enough that your viewers notice it without feeling shelled by marketing messages.
Some people are against product placement in YouTube videos because they feel that it violates the user’s privacy and is not creating any value for them. However, if you integrate product placement correctly into your video then you can reap the benefits from this type of advertising which includes higher engagement on videos, trust with viewers, and even more sales after a video airs.
4. Send Newsletter
A newsletter can be an effective tool for business owners to communicate with their subscribers and make a good impression on them. It is a relatively cost-effective tool for marketing, but it has been demonstrated to be extremely effective.
In the age of the internet, it is very easy to get caught up in all of the information that is available to consumers. This is why newsletters are such a useful tool for companies who want to stay relevant and constantly remind their users of what they are offering.
An effective Newsletters should be based on 3 C’s
- Clear – An effective newsletter should contain a clear message. Basically, this means that all of the content within the newsletter should be related to the topic of the newsletter. Having a clear message will help to ensure that your newsletter is read by its intended audience, and that it is successful in achieving its goals.
- Concise – Once you have a clear message, ensure that it must be concise. In addition, make sure the message in your newsletter is short and concise and should not contain any unnecessary information. As well as being easy to read and understand, the newsletter should make use of simple language and be presented in an organized manner.
- Compelling message – A successful newsletter should contain a compelling message that speaks to the audience’s needs, as well as a call to action that encourages the reader to take advantage of the material being offered. The content should be relevant and interesting, and the overall tone should be positive and upbeat.
5. Blog Tactically
Blog strategy is a tried and true way of driving relevant traffic to your site. A new marketing study has shown that marketers who use blogs effectively attract 67% more leads than those who do not.
A successful blog strategy starts with a well-planned content strategy that considers the type of audiences you want to reach, their interests, pain points, what they care about and how they prefer to consume information. Another important part of any sound blogging strategy is consistency. You need a consistent schedule for publishing content on your blog so readers can come back and know when you publish new content.
A successful blog should include the following elements:
- Identify your niche – A niche is one of the most difficult, but most important, things to consider when starting a blog. Once you’ve identified your niche, it’ll be much easier to market your blog and build a loyal following.
- Prioritize quality over quantity content – Long-form, comprehensive posts (1,500+ words) are 5x more valuable than short, non-informative posts. When a blog focuses on delivering well-written, engaging, and informative articles, readers will take notice.
- Plan your promotion strategy before you start writing – Expert content marketers recommend spending 80% of your time promoting your content and 20% on creating it. Before you start writing your next piece, take a step back and think about.
How you will promote it?
Who is your target audience?
What platforms will you use to reach them?
What kind of content will they find most engaging?
Answering these questions will help you create a promotion strategy that will make your writing more successful.
- Create evergreen content – Creating and updating evergreen content will enable your content assets to compound their impact. This type of content is important for any website or blog and will remain relevant and useful for a long time, regardless of the current trends.
- Promote your blog – You should compile a list of influencers who share your product’s value and launch an outreach campaign, using powerful outreach tools, requesting them to link back to your blog or to share your content.
- Everything begins with design – Your blog’s appearance can either attract or repel potential readers, so we recommend that you use professionally designed templates to design your blog.
Do modern marketing strategies still require SEO?
Yes, SEO is still an extremely powerful and important marketing strategy that helps many companies bring organic traffic to their website. A successful SEO strategy will help your brand gain recognition in the digital landscape.
SEO is a driving force behind modern marketing strategies and it should be an important part of any marketing plan. It will allow you to tap into the largest audience possible. More than 75% of marketers claim that their SEO tactics are extremely efficient that helping them to achieve their marketing goals in this modern world also.
To succeed in modern marketing, companies must conduct a deeper analysis of customer needs and wants and develop a unique selling proposition. Furthermore, it is essential to use data and analytics to measure results and optimize campaigns.
In this blog post, we have outline 5 (actually, 6) of today’s most effective modern marketing strategies to help you grow your business. By following these tips, businesses can develop successful marketing plans that will help them achieve their desired outcomes.
Brandlogg – Branding & Marketing Agency