Today’s market is highly competitive, and a well-defined marketing strategy lies at the heart of a successful business. Marketing is important because it enables businesses to reach out to potential customers and drive growth in the right direction. A marketing strategy identifies essential factors related to a product or service and provides an organizational edge over competitors. By defining the advertising budget and the revenue generated by the advertising plan, a marketing strategy clearly explains how an organization can achieve its objectives and also helps a business make optimal use of its resources; as a result, creating campaigns that best serve customer needs.
What is Social Media Marketing?
A vast majority of people discover brands via social media platforms. Thus, building a strong social media presence is essential to grow your business’s brand value, retain existing customers and attract new ones. Social media marketing is a form of digital marketing that uses the power of popular social media platforms to achieve branding goals. Effective social media marketing requires an evolving strategy that includes the following:
- Regularly posting relevant content
- Engaging customers via comments, shares, and giveaways
- Building a community of followers
- Running advertising campaigns
Social Media Marketing comes in a variety of forms, such as Influencer Marketing, Sponsored Posts, Giveaways, and Photo and Video ads that are tailored to platforms such as Facebook, Twitter, LinkedIn, YouTube, Pinterest, Instagram, and TikTok.
Examples of Social Media Marketing
A hashtag is a label used across social media platforms that makes finding content with a specific theme easy. Businesses can harness the power of hashtags to increase brand visibility and reach relevant audiences. Some of the most successful hashtag campaigns include Starbucks’ #ExtraShotOfPride and #WhatsYourName, in collaboration with ‘Mermaids,’ an organization that supports gender diversity. The innovative marketing campaigns grabbed attention while creating social awareness about the LGBTQ+ community by utilizing Instagram posts and stories, vibrant visual imagery, and drawing inspiration from trending topics during Pride Month.
Influencer marketing gives a digital spin to celebrity endorsements by placing the idea into a modern-day social media-driven campaign. Influencer marketing involves collaborations between brands and influential people to reach a wider market. From Ben Affleck and Shaquille O’Neal to Melvin Gregg, famous stars and sports influencers have been regularly associated with Wynnbet, sportsbook provider and one of the best real money online casinos in the US, in an attempt to attract new players. Another example is Nike Football’s strategically timed campaign ‘Believe,’ featuring Cristiano Ronaldo, the most followed celebrity on Facebook and Instagram. Finally, take a look at these sports marketing examples that prove the value of compelling imagery.
What is Traditional Marketing?
In its simplest form, traditional marketing refers to any marketing that takes place offline. This can include print media like newspapers and magazines, broadcast media like radio and television, as well as window displays and billboard signs. Traditional marketing requires creative efforts and market research to reach local audiences. Marketing methods such as direct mail or newspaper ads build genuine interest among customers and develop a trustworthy brand identity while generating substantial revenue. Billboards, display signs on bus stops, and event marketing methods engage customers on a personal level and put a business at the heart of the local community. As a result, customers find such businesses more organic and relatable.
Examples of Traditional Marketing
Event Advertising at Sports Stadiums
A sports stadium filled with thousands of screaming fans is charged with electrifying energy and heart-pumping excitement. It is the perfect place for brand exposure and leaves a positive impression on customers. Sports stadium marketing includes banners, VIP lounges, billboard ads, and posters. Major banks like Barclays and TV companies like Sky Sports are well in with such campaigns utilizing state-of-the-art LED perimeter boards to promote deals and grab the attention of excited sports fans. Stadium advertisements are strategically-placed and are hard to ignore, making them one of the best out-of-home marketing strategies.
Print Media Marketing
Print media utilizes platforms such as newspapers, media publications, and magazines. A specific category of customers can be targeted; for instance, a music store can advertise in magazines like Rolling Stone or L.A. Record that cater specifically to musicians. Another noteworthy print media campaign is “Big Cat, Small Cat” by Whiskas, which effectively communicates how the company’s cat food acknowledges and accommodates a cat’s primordial instincts. The print advertisement “Feeding your cat’s instincts” features an image of a domestic kitten chasing an antelope, thus conveying the message of supplying top-quality, natural cat food in a light-hearted yet effective way.