Marketing Strategies

In marketing, it’s crucial to distinguish between strategies, as each plays a unique role in achieving business objectives. But first, what is a strategy? According to the Strategic Thinking Institute, strategy is the intelligent allocation of resources through a unique system of activities to achieve a specific goal. Strategic Thinking Institute

A marketing strategy is the intelligent allocation of a company’s resources through a unique system of activities aimed at effectively reaching and engaging leads to achieve specific business objectives, often centered on increasing revenue. It involves understanding customer needs, standing out from competitors, and delivering a compelling value proposition that aligns with the company’s overall goals.

How Marketing Strategies are Applied?

Marketing strategies are often applied using the framework of a funnel, a model that illustrates the customer journey from initial interaction to long-term loyalty. The conventional funnel comprises four main stages: awareness, consideration, conversion, and advocacy. Each stage requires a tailored approach to resonate with the target audience and guide them seamlessly through the journey, ensuring long-term value and brand growth. Below is an overview of key marketing strategies aligned with each stage of the funnel, accompanied by examples and references:

1. Awareness Stage

At this initial stage, the objective is to increase visibility and make potential customers aware of your product or service. Effective strategies include:

Content Marketing: Creating valuable and relevant content, such as blog posts, infographics, or ebooks, to engage your target audience and establish your brand as an authority. CoSchedule
Display Ads: Display ads are visual advertisements (such as images, videos, or GIFs) shown to users on websites, apps, or social media platforms. They are designed to capture attention and encourage users to take specific actions, like clicking to visit a landing page, filling out a form, or making a purchase. Semrush
Guerrilla Marketing: This is a low-cost, unconventional marketing strategy that uses creativity to promote a product or service. The goal is to create a memorable and lasting impression on consumers.
Outrage Marketing: A strategy that intentionally stirs controversy or provokes strong emotional reactions to generate attention and engagement. It leverages polarizing content to spark conversations, amplify brand visibility, and attract curious or passionate audiences.
Influencer Marketing: Partnering with individuals who have a significant following on social media or other platforms to promote products or services. A beauty brand might collaborate with a popular makeup artist to showcase their products in tutorials.
Social Media Marketing: Utilizing platforms like Facebook, Instagram, or LinkedIn to share content and interact with potential customers, building brand awareness and community engagement. CoSchedule
Search Engine Optimization (SEO): Enhancing your website’s content and structure to rank higher in search engine results, thereby attracting organic traffic. CoSchedule
Search Engine Marketing (SEM): This is a kind of Pay-Per-Click (PPC) Advertising. It consist of running paid advertisements on search engines to appear prominently when potential customers are searching for related products or services. CoSchedule
Video Marketing: Uses engaging video content to promote products or services. It aims to increase awareness and drive engagement through storytelling, or advertisements on platforms like YouTube, social media, and websites.
Website User Interface Design that Attracts: Focuses on creating a visually appealing website, aligned with the search intent and buyer persona, that effectively presents key business information, and educates visitors on services and products to support conversion.

Example: A fitness apparel company launches a series of engaging social media posts featuring workout tips and athlete endorsements to introduce their new product line to a broader audience.

2. Consideration Stage

In this phase, potential customers are evaluating their options. Strategies to nurture their interest include:

Brand Positioning: Focus on defining how a brand is perceived in the market relative to its competitors, highlighting unique attributes and values. It aims to create a distinct image in the minds of consumers, guiding their choices and loyalty.
Direct Response Marketing: Focused on prompting immediate actions from the audience, such as signing up, attend an event or requesting information. It uses personalized methods like emails or messages.
Email Marketing: Sending targeted and personalized emails to prospects, providing them with information, or updates that address their specific needs. CoSchedule
Event Marketing: Organizing or participating in events such as trade shows, or conferences to promote authority, products or services.
Leadership Marketing: Focuses on positioning a brand or individual as an industry authority by showcasing expertise, positive social proof, innovation, and vision. This strategy builds trust, credibility, and loyalty, influencing customers and competitors alike.
Remarketing Ads: A strategy that targets users who have previously interacted with your website, app, or content. These ads re-engage potential customers by showing personalized messages or offers across platforms, encouraging them to return and complete desired actions like making a purchase.

Example: A software company offers a free webinar demonstrating how their tool solves common industry challenges, providing real-life case studies to illustrate its effectiveness.

3. Conversion Stage

At this critical point, the objective is to encourage prospects to make a purchase. Effective strategies include:

A/B Test: Involves comparing two versions of a webpage, email, or ad to determine which one performs better. It helps optimize marketing efforts by identifying the most effective elements to improve conversions.
Affiliate Marketing: Collaborating with individuals or companies (affiliates) who promote your products or services in exchange for a commission on sales generated through their referrals. For instance, a travel agency might work with bloggers who earn a commission for each booking made through their referral links.
Content Marketing – Copywriting: Writing copy that prompts immediate action from the audience (e.g., “Buy Now,” “Sign Up”), focusing on converting website visitors into customers.
Email Marketing: Sending targeted and personalized emails to qualified leads with offers that address their specific needs.
Limited-Time Offers and Promotions: Creating a Sense of Urgency and Fear-Of-Missing-Out (FOMO) with special deals or discounts to motivate immediate purchases.
Optimze the Checkout Process: Streamline and simplify the checkout flow by minimizing steps, offering multiple payment options, and reducing friction to increase conversions and enhance the user experience.
Trust Marketing: Focuses on establishing credibility and rapport with customers through transparent communication and guarantees. It aims to foster long-term relationships by making customers feel secure.
Website User Experience that Drives Conversions: Optimize the website with a clear value proposition, fast loading speeds, intuitive design, and strong Call-To-Actions (CTAs) to guide visitors seamlessly toward taking desired actions, such as signing up or purchasing.

Example: An e-commerce store offers a 20% discount for first-time buyers and streamlines the checkout process to facilitate quick and easy transactions.

4. Loyalty Stage

Post-purchase, the focus shifts to retaining customers and fostering loyalty. Strategies include:

Exclusive Access: Offering loyal customers early access to new products or special events to make them feel valued.
Email Marketing: Email marketing keeps your brand in front of the customer on a consistent basis. Remember to always craft emails that provide value to the customer. If not, they may unsubscribe.
Freebie Marketing: Offering free products, services, or samples to attract new customers, build brand awareness, and encourage engagement, often leading to future purchases or loyalty.
Remarketing Customers: Involves targeting users who have previously purchased from your brand but didn’t convert again, by showing them tailored ads, emails or messages across various platforms to encourage new purchases.
Reward Programs: Reward programs incentivize customer loyalty by offering benefits, discounts, or points for repeat purchases or engagement. This strategy encourages retention, boosts customer satisfaction, and increases lifetime value.
Social Sharing: Focuses on encouraging users to share the business content on social media platforms, increasing brand exposure, engagement, and driving organic growth. It leverages user-generated content to amplify reach and influence.

Example: A beauty brand provides a points-based reward program where customers earn rewards for each purchase, encouraging them to continue buying and engaging with the brand.

5. Advocacy Stage

Satisfied customers can become brand advocates, promoting your product or service to others. Strategies to encourage advocacy include:

Referral Programs: Offering incentives for customers who refer friends or family to your business.
Advocacy Marketing: Focuses on encouraging loyal customers to share their positive experiences and engage with the brand, helping to generate trust and attract new customers through genuine word-of-mouth.
Community Marketing: Aims to build and nurture a dedicated group of customers or fans around a brand, fostering engagement, support, and long-term relationships by creating a sense of belonging and shared purpose.

Example: A travel agency creates a referral program where existing customers receive discounts on future trips for each new client they bring in, leveraging word-of-mouth marketing.

By implementing these strategies thoughtfully at each stage of the marketing funnel, businesses can effectively guide potential customers from awareness to advocacy, building strong and lasting relationships.