Marketing

There are three types of marketing strategies

All businesses, large and small, use three types of basic marketing strategies. You can break down all marketing plans into one of these three types. These are:

  1. Marketing online or via the internet
  2. Marketing offline
  3. Word of mouth marketing or relationship marketing.

These categories can cross-over, mostly between relationship and online. We’ll discuss this more as we go into the topic. There can be a wide range in marketing costs among these types. I know this because it is essential for all those who start a new business. Marketing can be the most exciting aspect of a business startup because it allows you to see your business grow.

Online Marketing

Today, many people are opening online businesses. Not all people who start businesses online will succeed. The key to success is the marketing plan. Online marketing is a combination of creative and technical aspects, including design, development, sales, and advertising. It includes search engine marketing, such as Yahoo and Google, banner ads on sites, search engine optimization, email marketing strategies, and search engine optimization. Online marketing has many advantages. Internet marketing is relatively inexpensive compared to traditional marketing methods. Many companies have discovered that online advertising can reach a much larger audience at a substantially lower cost than traditional offline methods. Offline MarketingThis is the old-fashioned type of marketing strategy. Ask your parents if you’re old enough. This category covers all the markings that were used in those years.

  • Newspaper ads.
  • Radio.
  • Television.
  • Bulk mail
  • Billboards
  • Magazine ads.

You can see that offline marketing is the most costly type of marketing. Unlike online marketing, you will have to pay every time you want your name to be known. Remember how much money you are willing to spend on marketing. While you may prefer to focus more on internet marketing and relationship marketing, the decision is entirely yours.

Word of mouth marketing or relationship marketing

This type can and should be your most important marketing strategy if you’re committed to it. Trust in your customers will be earned through this method. When you buy a new (fill the blank), think about your past experiences. You are more likely to purchase a product if it is recommended by someone you trust than if you only see an advertisement. In any marketing strategy trust is key. Building trusting relationships with people is key to any marketing strategy.

Offline Relationships

  • Friends.
  • Relatives.
  • Business Connections
  • Coworkers in community involvement
  • Other Churchgoers
  • Everybody you meet in the city.

If you get the chance, tell them about your business. Talk to them about your business, what you’re doing, and your goals. Chances present themselves every day, all that is required is to recognize them and get out there. Once they get to know you and your business, they will share it with their friends, who in turn will tell their friends.

Online Relationships

This could be the most important part of your marketing strategy, depending on whether your business is local or far-reaching in terms of who your customers are. While I won’t tell you anything that you don’t already know, relationships are the foundation of today’s internet. The internet is where people connect.

  • Facebook
  • Twitter
  • LinkedIn
  • MySpace

This is just the tip! There are many places you can meet people and get to know them. You can also use online marketing. These are the three types of marketing strategies. They will work for you, your new business, but you must be committed to them. You can do it! It’s hard work. Believe in yourself. If you’ve made it this far, I believe you because you have shown that you have the ability to succeed. This is 2 people. Your plan is already growing!

molw.net

We are a team of professionals with each having two decades of experience in start-ups, sales, marketing, finance, HR, large scale project and profit centre management and running mature cross functional operations. At Molw.net we are big believers that knowledge transfer is critical to our industry’s evolution. We love to share our experiences and learnings through our online resources.

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