A Foolproof Guide to Marketing Strategies
What Is Mass Marketing?
Mass marketing's principal goal is to enlarge the advertising campaign to reach the most considerable amount of people, and subsequently, more potential customers. The meanwhile ignores exact specific audience customization.
Examples: Magazines, Billboards, TV, and digitally hosted ads.
Advantages:
Of course, more potential customers will be among this amount of population, while grabbing more attention means increasing brand awareness, not to mention it take less analytics work effort.
Disadvantages:
On the other hand, it decreases the chances of ad customization to specific target customers. As well, smaller companies might suffer more challenging competition.
Direct Marketing:
In a nutshell, direct marketing is counting on targeting a specific person or an organization that shares similar interests to generate new business.
Examples: Direct Mail, Email, broadcast faxing, couponing.
Advantages:
Because of its ability to directly target a specific customer, it can reach more clients in relevant, affordable, and measurable campaigns. It also retains customers' loyalty and trust through making new relationships.
Disadvantages:
Because it requires direct contact, employees don’t feel comfortable doing it, and some clients find it intrusive. It’s also harmful to the environment because of the excessive use of paper in leafleting or envelopes processes. Furthermore, it has a low response rate and legal issues due to privacy laws.
Micro Marketing:
It’s a marketing way that highly targets a specific group of people in the niche market, focusing on very narrow certain characteristics like their hobbies, location, jobs, and more…
Examples: Gender, job title, name, location, hobby, etc.
Brand campaigns examples similar to Red Bull sports, Uber traffic, and Coca-Cola’s Share a Coke.
Advantages:
Targeting a specific audience comes along with cost-effectiveness, which results in being more precise with the marketing budget. Also, it focuses on a nich market that leads to Return On Investment.
Disadvantages:
The critical con of micro marketing remains as effort and time-consuming, because of the fewer targeted groups.
One-to-One Marketing:
It’s the old logical way of marketing, the selling process that makes a relationship between the customer and a regular shopping store owner. Which the owner used to understand their customer’s preferences and remember each time they visit their store. It’s one of the best ways to retain customer trust, loyalty, and word-of-mouth growth.
Examples: Personalization emails, triggered emails, and exclusive customization opportunities.
Advantages:
Because word-of-mouth growth might be the most essential component for sales increases, a satisfied customer should be the best marketing. Also, one-to-one contact help build relationships, which solves problems immediately, keeps customer retention, obtains honest insights, and earns organic referrals.
Disadvantages:
While retaining the current customers, one-to-one sometimes treats new customers as a spare commodity. Also, to remain the relationship connection, efforts have to change according to customers’ propositions and culture, thus it takes more time and effort.
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