4 Examples of Effective Marketing strategy
According to a report conducted by Insee, in France, in 2022, the number of business creations increased by 16.0% compared to last year. An increase which therefore pushes both old and new companies to redouble their creativity and ingenuity in terms of the positioning of their activity and therefore the choice of their marketing strategy through a brand strategist. A crucial selection if you need to increase the sustainability and profitability of your company and efficiently accomplish your objectives.
Though, there are as various marketing strategies as there are businesses and it is not simple to navigate.
In this article, discover 4️ examples of effective marketing strategies to develop your business.
Storytelling or emotional marketing
Storytelling has now become an essential asset of an effective marketing strategy with the help of trade advertising. Whatever market you have decided to position yourself in, there are more and more competitors, and you need to stand out. For this, you can play on the emotional value of your brand or company.
The goal of emotional marketing thus lies in creating a set of emotions and values in the target, in order to create a link with the brand or the company.
Storytelling, aimed at conveying a message by creating a sense of identification in the reader, is an essential lever of emotional marketing and helps to make your brand memorable.
Communicating about the particular history of your company, about what prompted you to create it, its values or even creating a story around your brand, are frequent themes of storytelling.
The emotions sought vary according to the desired objective: enthusiasm, interest, desire, for the announcement of a new product or even joy and pride for a corporate message thanking its customers for their loyalty.
A strategy that will allow you to federate and retain your prospects, by creating in them a feeling of attachment and affection for the brand, but also to strengthen your brand image.
This is the case, for instance, of Levi’s, which developed its infamy by describing its origins. The story of Levis Strauss and Co who, in 1866, invented sturdy workwear designed to last for several years. Even today, in the minds of consumers, Levi’s is perceived as a solid and timeless brand of jeans.
And you will have understood it, emotions lead to buying and sharing. It is even 68% of online purchases according to this study carried out by AOL and InsightsNow.
Today a lot of marketing methods have become invasive and aggressive. Indeed, brands come into contact with the consumer without the latter having chosen it, by means of intrusive promotional advertisements, phoning, mailing, SMS… A method which shows more and more limits and no longer does sense.
This is how attraction marketing, or the methodology of Inbound Marketing was born in Boston in 2006.
Therefore, incoming marketing is no longer just a trend for the progress of your company. It is developing as a model for various sectors of activity.
Indeed, on the contrary, this non-intrusive marketing technique consists in attracting the customer towards you, in arousing his interest through specific actions. The brand will produce attractive content , focused on the needs of its target, while subtly demonstrating that it can meet their needs and issues, while positioning itself as an expert.
For this, several techniques are used:
- website blog
- Social networks
- Natural referencing (SEO)
- Database management and CRM
- White papers…
A lucrative strategy that permits companies to generate a lot of advantages:
- Generation of more qualified leads. Thus, the probability of converting them into prospects and then into customers is greater.
- controlled budget
- reduced customer acquisition cost
- increase in the number of customers
- upsell and cross-sell
- sales maximization
- increase in traffic on your website, improve its notoriety and credibility.
Position yourself in niche markets
Many companies are created every day, to stand out you must position yourself where others are not. Niche markets are therefore real opportunities to be seized.
They correspond to a small market segment where the demand is very specific. If the demand is not large, there are multiple advantages:
- Market in strong trend
- The training of high prices is not a question
- Margins are more profitable
- The competition is weaker there.
- More captive and loyal consumers
- It is easier to enter a limited market than to compete with the large groups already present
Thus, each specialist improves in his field and becomes the reference in his market.
For example, if the wine market is a mass market, by contrast, the organic wine market is a niche market.
However, this strategy has some pitfalls to avoid. Indeed, to avoid seeing your business stop after a few years or months and having to start all over again: check that the sector in which you want to start is part of the long-term trends.
Opt for an innovation strategy
In order to ensure the constant sustainability of your business, to stand out against strong competition, to reduce your costs, to improve productivity… the innovation strategy is effective.
There are different ways to innovate, specific to the characteristics of each company:
- Incremental innovation: which consists in optimizing the performance, uses, services of an already existing product by adding new functionalities. This is the case, for example, of the automobile market.
- Adjacent innovation: this can be product or market. In the first case, innovation consists of transferring an already existing technology to another market. This is the reason of the Bluetooth technology represent on the telephony marketplace which has been traded into the automobile. In the second case it is the launch of a product already present but with new functionalities, which will create a new market.
- Disruptive innovation: which consists of offering an already existing product or service, but at a lower price and/or easier to use. This is the case of Free.
- The radical innovation which consists in creating a brand-new product that does not respond to any problem and therefore to create a new market. Example: the iPad
- Commercial innovation: Amazon, Netflix, Spotify… Not all of these companies are technological disruptors according to Brian Halligan, entrepreneur of the year (Forbes 2012) and founder of Hubspot. The real innovations are commercial and centered solely on the customer experience.
We find in these companies 5 strengths which are the key to their success, mainly customer-oriented:
- Alignment of customer experience with the market
- Elimination of friction and excellence of the purchase journey: everything is done to simplify the purchase or access to technical support (SAV)
- They offer the maximum of customization: example “Hello Francis, nice to see you again. Are you happy with the new Scenic that you have got the enjoyment of pushing for 2 months?
- It is their customers who accelerate sales: example “You have seen Casa de Papel on Netflix”
- Continuously rethink the business model
Regardless of the market, more and more businesses are being established. To stand out from the competition and increase your notoriety, it is necessary to develop an effective and innovative marketing strategy: emotional marketing, inbound marketing, niche market, innovation strategy… are all strategies that have already proven themselves.
Though, to get advantage from the accumulative benefits of these approaches, it is possible to blend them. The trick is to adjust it to your company.
And you, do you have any marketing strategy ideas to share? Do not hesitate to leave us a comment.
In the meantime, you can consult our page dedicated to setting up a marketing strategy in Reunion.