MARKETING TECHNIQUES AND STRATEGIES FOR A NEW COMPANY
Accelerate your business with these expert tips "Startup marketing techniques and strategies". Analyse and discover this TIP!
Marketing tactics to achieve the commercial objectives (see+) of a new company
Why should a new company choose its marketing strategy wisely?
It is essential that a new company chooses its marketing strategy well because competition in the marketplace is increasingly intense and it is necessary to stand out in order to attract and retain customers.
IN ADDITION, A GOOD MARKETING STRATEGY CAN HELP THE COMPANY TO:
- Increase visibility and brand recognition.
- Generate demand for the products or services offered.
- Differentiate yourself from the competition and stand out in the market.
- Attract and retain customers.
- Increase the company's sales and revenues.
- Build a solid and positive reputation in the market.
- Adapt to the needs and preferences of the client.
- Identify business and growth opportunities.
In a nutshell, Choosing the right marketing strategy can be the key to success for a new business, while the wrong or inadequate strategy can limit the company's growth and survival in the market.
Most successful strategies for new business start-ups
Ranking marketing strategies according to their success in creating new businesses. It is not a question of applying all of them at the same time, but of getting to know them in order to discover those that can give you the best results, for which you have to try them:
- Content marketing (+): consists of creating relevant and quality content that attracts potential customers to the company. You can create a blog, publish articles on social networks, make videos or infographics, among other options. Content marketing: Strategy that focuses on creating relevant and quality content to attract potential customers to the company.
- Inbound marketing (+): Strategy that seeks to attract potential customers through relevant and personalised content.
- Email marketing (+): email marketing consists of sending emails to customers and potential customers to keep them informed about company news, offers, discounts, among others.
- Guerrilla marketing (+): Marketing strategy that focuses on generating impact and surprising the target audience through unconventional actions.
- Experience marketing (+): Strategy that seeks to offer unique and memorable experiences to customers in order to build customer loyalty and increase brand loyalty. Customer experience marketing: Strategy focused on offering high quality and personalised experiences to customers to increase their loyalty and satisfaction.
- Promotions and discounts: Offer special promotions and discounts to attract new customers and retain existing ones. Promotions and discounts: Offering special promotions and discounts can be an excellent way to attract new customers and retain existing ones.
- SEO: Tactic to rank in the top search results and increase the company's visibility. SEO: SEO or search engine optimisation is an important tactic to get the company to appear at the top of search results. This can increase the company's visibility and attract potential customers.
- Marketing mix (+): A set of marketing strategies that are used to achieve specific objectives, including product, price, promotion and distribution.
- ONLINE advertising (+): Through online advertising, it is possible to reach a large number of people quickly and effectively. Social media and search engines are excellent options to promote the company. Use of online advertising through social media, search engines and other digital media to promote a business.
- Influencer marketing: Collaboration with influencers on social networks and blogs to promote the company and its products or services. Influencer marketing: Influencer marketing consists of working with influencers on social networks and blogs to promote the company and its products or services.
- Events and fairs: Participation in events and fairs to make the company and its products or services known to an interested public. Events and fairs: participating in events and fairs is an excellent way to make the company and its products or services known to a large number of interested people.
- Remarketing (+): Strategy that seeks to attract customers who have already interacted with the company in the past and increase the chances of conversion.
- Proximity marketing (+): Use of geolocation technologies to send personalised messages and promotions to customers near the company.
- Mobile marketing (+): Strategy that focuses on reaching customers through mobile devices such as smartphones and tablets.
- Social marketing (+): Use of social media and other digital platforms to interact with customers and promote the company.
- Neuromarketing (+): Strategy that focuses on the study of consumer behaviour and the application of neuroscience techniques to improve marketing effectiveness.
- Word of Mouth Marketing (WOMM) (+): Strategy that focuses on generating positive conversations about the company among customers and potential customers.
- Direct marketing (+): Strategy that seeks to reach customers directly without intermediaries, using tools such as direct mail, telemarketing, among others.
- Growth marketing (+): Strategy focused on the accelerated growth of the company using various marketing tactics.
- Branding strategies (+): Techniques that seek to build a solid and recognised brand image in the market.
- Affiliate marketing: consists of establishing agreements with other companies or individuals who promote the company's products or services in exchange for a commission for each sale made.
- Public relations marketing: focuses on the management of the company's image and reputation in the eyes of the public. Tools such as the press, events, publications, among others, are used to improve the perception of the company.
- Niche marketing: focuses on a specific market segment and tailors the marketing strategy to the needs and wants of that consumer group.
- Social media marketing: focuses on the use of social media as a means to promote the company and its products or services.
- Digital guerrilla marketing: These are unconventional and creative marketing strategies that seek to attract the public's attention in a striking and surprising way.
- Visual content marketing: focuses on creating engaging visual content, such as images, videos and graphics, to attract the attention of potential customers and increase their interest in the company.
- Marketing of virtual experiences: technological tools such as virtual reality or augmented reality are used to create unique and engaging experiences for customers.
- Social Influence Marketing: is based on working with influencers on social networks and blogs to promote the company and its products or services.
- Voice marketing: focuses on using virtual assistants and voice recognition technologies to interact with customers in a more natural and personalised way.
- Geolocation marketing: customer location information is used to create personalised marketing strategies tailored to their geographical context.
- Programmatic advertising (+).
How to choose the right strategy for a new company?
THE FOLLOWING STEPS CAN BE TAKEN TO CHOOSE THE MOST APPROPRIATE MARKETING STRATEGY FOR A NEW COMPANY:
- Define the target audience (+): It is essential to know who the company is targeting and what their needs are in order to adapt the marketing strategy to their profile.
- Analyse the competition: Studying competitors and understanding their marketing strategies can help you identify opportunities and differentiate yourself from them.
- Evaluate the budget (+): It is important to consider the available budget in order to design a realistic and effective marketing strategy.
- Select the appropriate channels (+): Identifying the right marketing channels to reach the target audience is crucial. For example, if the company's target audience is young, it may be advisable to use social media as a communication channel.
- Define objectives (+): It is important to set specific and measurable objectives to evaluate the success of the marketing strategy and make adjustments if necessary.
- Action plan (+).
- Measure and adjust: The results of the marketing strategy should be measured and adjustments made if necessary to improve results.
In summary, to choose the most appropriate marketing strategy for a new company, it is important to know the target audience, analyse the competition, take into account the available budget, select the right channels, define the objectives and measure and adjust the strategy according to the results obtained.
APPLY THIS TIP TO YOUR PROJECT
CASE STUDY FOR AN ENTREPRENEUR TO FIND THE RIGHT MARKETING STRATEGY TO BUILD HIS OR HER COMPANY
Let's imagine that an entrepreneur wants to create an online shop for ecological and sustainable products.
HERE ARE SOME STEPS YOU COULD TAKE TO CHOOSE THE RIGHT MARKETING STRATEGY FOR YOUR COMPANY:
- Identify the target audience: The entrepreneur must analyse his target audience, i.e. those people who may be interested in the products he is going to offer. In this case, the target audience is people concerned about the environment and sustainability.
- Analyse the competition: It is important to analyse the competition and see what marketing strategies they are using and how they are positioning their products. In this case, the competition is other online shops that offer ecological and sustainable products.
- Define the brand message: The entrepreneur must clearly define the message of his brand and what he wants to convey to his customers. In this case, the message could be the importance of caring for the environment and using sustainable products to protect the planet.
- Select marketing channels: The entrepreneur must choose the right marketing channels to reach his target audience. In this case, he could opt for social media, online advertising and content marketing.
- Create relevant content: The entrepreneur should create relevant content that appeals to his target audience and keeps them interested in the products he offers. In this case, he could create content on how green and sustainable products can help protect the environment.
- Measuring results: It is important to measure the results of the marketing strategies used to see if they are working and to make adjustments if necessary. In this case, the entrepreneur could measure website traffic, number of sales and social media interaction to evaluate the success of his or her marketing strategy.
By following these steps, the entrepreneur can choose the right marketing strategy for his company and attract his target audience effectively.
WHAT IS THE RIGHT STRATEGY FOR EACH BUSINESS MODEL?
There is no single strategy suitable for every business model, as each company is unique and has its own needs and objectives. However, some general strategies can be identified that may be applicable to different types of business models.
HERE ARE SOME EXAMPLES:
- Subscription-based business model: an appropriate strategy would be to focus on customer retention and subscription renewal. This can be achieved through personalisation of the user experience, offering exclusive benefits to subscribers and high quality customer service.
- E-commerce business model: An appropriate strategy would be to focus on SEO, online advertising and optimising the user experience on the website to maximise sales. Loyalty programmes and discounts can also be considered to build customer loyalty.
- Business model for physical products: An appropriate strategy would be to focus on product differentiation, strong branding and high quality customer service. Expansion of product offerings and diversification of sales channels can also be considered.
- Professional services business model: An appropriate strategy would be to focus on building trusting relationships with clients, personalising services and promoting the expertise and specialisation of the staff. The implementation of referral programmes to attract new clients can also be considered.
In a nutshell, Each business model requires a unique strategy that is tailored to its specific needs and objectives. It is important to carefully evaluate the options and experiment with different approaches to find the right strategy for your business.
PRACTICAL EXAMPLES OF THE RIGHT CHOICE OF MARKETING STRATEGY
MAY INCLUDE:
- Airbnb: used a marketing strategy based on user experience. They offered accommodation in authentic locations that reflected the spirit of the city in which they were located. In addition, their website was designed to be user-friendly and offered many images and detailed descriptions of the accommodation.
- Dollar Shave Club: this company used a subscription-based marketing strategy. They offered a monthly delivery service of razor blades to their customers for an affordable price. They also used funny and viral videos on social media to promote their brand.
- Warby Parker: used a value-based marketing strategy. They offered designer glasses at affordable prices and also donated a portion of their profits to charity. In addition, they offered a free home trial service so that customers could try on the glasses before they bought them.
- Tesla: used a marketing strategy based on innovation and sustainability. They offered high-end electric vehicles with innovative technology and a personalised shopping experience. They also promoted their commitment to sustainability and environmental protection.
- Coca-Cola: used an emotion-based marketing strategy. They used the power of the brand and the feeling of happiness and connection it evokes to promote their products. They also used creative and emotive advertising campaigns to connect with their audience.
You are at are just some of the marketing tactics that a new company can use to achieve its business objectives. It is important to remember that each company is unique and the tactics used should be tailored to the needs and characteristics of the company and its target audience.
USE OF ARTIFICIAL INTELLIGENCE TO DISCOVER THE STRATEGY THAT BEST SUITS YOU
Artificial intelligence can help the entrepreneur choose the most appropriate marketing strategy by providing detailed information on the different options available, their pros and cons, and how they fit the entrepreneur's specific marketing objectives.
For example, artificial intelligence can provide information on the most effective marketing strategies to reach a particular target audience, such as young people, parents, technology enthusiasts, athletes, etc. It can also help determine the most cost-effective and efficient marketing strategy to achieve sales and conversion goals.
For example, if an entrepreneur has a health food business and wants to attract potential customers through relevant and personalised content, artificial intelligence could recommend an Inbound marketing strategy.
The entrepreneur could create quality content, such as healthy recipes and nutrition tips, and promote it on social media and a blog, with the aim of attracting potential customers and generating interest in their business. Artificial intelligence could provide information on how to create effective content and how to promote it on social media to reach the target audience.
Another example would be if the entrepreneur has a fashion business and wants to attract potential customers through relevant and quality content, artificial intelligence could recommend a content marketing strategy. The entrepreneur could create a blog and publish articles related to the latest fashion trends, style tips and product recommendations.
Artificial intelligence could provide information on how to create effective content and how to use content marketing tools, such as social media, to attract a target audience interested in fashion.
In short, artificial intelligence can help the entrepreneur choose the most appropriate marketing strategy by providing detailed information on the different options available and how they fit the entrepreneur's specific marketing objectives.
AS AN ENTREPRENEUR, YOU CAN CHOOSE THE RIGHT MARKETING STRATEGY TO ACCELERATE YOUR BUSINESS USING ARTIFICIAL INTELLIGENCE.
DEFINING MARKETING OBJECTIVES
The first step is to define the marketing objectives that the entrepreneur wants to achieve. This could include increasing brand awareness, generating more traffic to their website, increasing sales or building loyalty with existing customers. Artificial intelligence can provide suggestions on what marketing objectives are relevant to the business and how to set realistic goals.
IDENTIFYING THE TARGET AUDIENCE
The next step is to identify the entrepreneur's target audience. It is important to understand the needs, wants and behaviours of potential customers in order to create an effective marketing strategy. Artificial intelligence can provide information about the demographics, behaviour and preferences of potential customers.
EVALUATE MARKETING CHANNELS
Once the marketing objectives and target audience have been defined, the entrepreneur can evaluate the different marketing channels available. This could include online advertising, email marketing, content marketing and social media marketing. Artificial intelligence can provide information on which marketing channels are popular with potential customers and which channels are being used by the entrepreneur's competitors.
CREATING ENGAGING CONTENT
Creating engaging content is a key aspect of any effective marketing strategy. The entrepreneur must create content that is relevant and appealing to their target audience. Artificial intelligence can provide suggestions on what type of content works best for each marketing channel and how to create engaging and effective content.
MEASURING THE SUCCESS OF THE MARKETING STRATEGY
It is important to measure the success of the marketing strategy to ensure that resources are being used effectively. The entrepreneur may ask questions such as "How can I measure the success of my marketing strategy?" or "How can I determine if my marketing investment is paying off?" Artificial intelligence can provide information on metrics that should be monitored to evaluate the effectiveness of the marketing strategy and suggest ways to improve the strategy.
PRACTICAL EXAMPLE
Suppose an entrepreneur runs an online health food business and wants to increase sales of his products. The entrepreneur could use artificial intelligence to ask the following questions:
- "What is the best marketing strategy to increase sales of my health food products online?
- "What kind of content is the most effective for promoting healthy food products on social media?
- "How can I measure the success of my online marketing strategy to increase sales of my products?
Artificial intelligence could suggest a marketing strategy that includes the creation of blog content on the benefits of healthy food products, online advertising targeted at potential customers interested in healthy food products, and product promotion through social media. In addition, artificial intelligence could suggest important metrics to measure the success of the online marketing strategy.
QUIZ
- 💻 PRACTICE with an expert in the next practical webinar.
- 🔎 CONSULT more related TIPs with this same theme.
- 📖 AMPLIA your knowledge by downloading this EBOOK.
THINK ABOUT YOU
- 🚀 IMPULSA your company in the next acceleration programme, ¡book your place now!
- 🥁 PRACTICE with your project in this practical webinar, ¡apply for your place!
- 🌐 CONTACT with other entrepreneurs and companies, ¡register and take part in the next Networking!
THINK ABOUT HELPING OTHERS
- 🤝COLLABORATE as a volunteer: expert, mentor, inverter, awarding, Spreading the word, challenging, innovating, creating a TIP...
- 💬 RECOMMENDS this programme to reach out to more entrepreneurs by Google.
- 👉 SHARE your learning!
- 📲 SEND this TIP 👇
