With numerous businesses offering similar products and services vying with each other to capture a significant portion of the market pie, effective marketing is the only option for promoting the company. This can be done using the following methods of marketing;
Media marketing communication refers to any traditional mass distribution broadcast or publication with a large volume of viewers, listeners, or viewership. Television, Radio, Internet Banner Ads, Magazines, Newspapers, Billboards, etc. are all forms of traditional media marketing.
A more recent addition to this type of marketing communication is the webinars and social networking sites on the internet.
Regarding upfront costs, media marketing communication tends to be the most expensive type of marketing. This is due to the value related to the mass volume. The back end reward is that because of the volume, the actual cost per lead can be less if a high volume responds to the marketing effort. So, the trade-off is that it may cost more up front but can produce more leads by volume.
Mail is an equally traditional method of marketing communication. Whether it is direct and independent or bundled in a mass mailing, millions of marketing message are sent by mail daily. Distributing marketing messages by mail’s hard, though. It is so easy for the message to simply hit the trash.
Ideally, if marketing communication is performed by mail, it should be to a targeted list. A target list is the list of subscribers who indicated an interest in a particular product or service. Since mail is paid per unit delivery, it is more cost effective to send to individuals who expressed interest or who have demonstrated an interest in previous consumption.
The telephone is another distinct form of marketing communication. Whether a live human is dialing you or if contact is accomplished by an auto-dialer, the telephone can be an efficient way to contact a lot of people in a short time period. The telephone, due to the number prefixes, also, allowed for targeting specific geographical areas. Limitations with the phone, however, include the requirement that someone answer, or have voice mail, and short duration of exposure to a message. Additionally, legalities must be considered due to the “do not call” list which allows numbers to be opted out from direct marketing.
4. Internet marketing
There are numerous ways to market goods and services on the Internet successfully. There are just as many types of Internet Marketing as there are ways to sell them in the brick and mortar world. Here we’ll outline four of the many types of Internet Marketing used today. These four are amongst the most tried and true methods that have long-term sustainability regardless of the changes how things are done on the Internet.
-Search Engine Marketing:
Search Engine Optimization (SEO) is a HUGE topic, which is constantly morphing and evolving. It will be covered in a future article. What we are talking about here is using pay-per-click (PPC) marketing via the Search Engines.
Most Search Engines (such as Google), allow you to write your own advertisement that the Search Engine will display at the same time as a Surfer’s search results are displayed. This occurs when the keyword the web-surfer is searching for, matches one of the keywords you have linked to your advertisement.
Basically, you will be paying the Search Engine for each time your advertisement is clicked on by a Surfer.
In this method of marketing, the owners or providers of the goods or services, have a program whereby other marketers can sell or promote their products or services for them. They can either set-up themselves or use a third-party to administrator (such as Clickbank or Commission Junction).
The “Affiliate” can be paid a percentage of the sale or a flat fee. It is important to note that the percentages that are paid to affiliates vary widely from program to program and product-to-product. Make sure to investigate all the details.
The beauty of Affiliate Marketing is that an affiliate can set up a website business relatively easily without actually have to produce a product or service of their own. Additionally, the owners or providers are happy to have others selling for them as well as building their client & contact list.
There have been some difficult times and re-adjustments for Email Marketing over the past few years. CAN-SPAM laws have tightened things up dramatically to prohibit spamming. Click here to read more about the CAN-SPAM laws. Generally speaking, this is a good thing for consumers; I don’t like to receive spam myself…so, I can’t imagine too many people do. This has gotten rid of a great deal of unscrupulous marketers that are just out to make a quick buck.
Legitimate marketers with valuable content, goods, and services have just had to adjust and focus on permission-based email marketing. Opt-in lists are now required to avoid getting penalized for sending out spam emails.
That being said, Email Marketing is still a very effective method of Internet Marketing because the opt-in lists are comprised of people who are most interested in the product or service being offered. Additionally, the consumers always are given the option to remove themselves from the opt-in list if they no longer want to receive the Email Marketer’s offers or information.
Owners of products or services can write articles about their product or service or related topics. The focus here is to use attention-getting headlines and relevant keywords. They then will list their articles in article directories, article repositories or article banks (such as EzineArticle.com).
Then, their articles can be downloaded and reproduced by other website owners and Ezine’s publishers free of charge as long as the articles remain unaltered and the Resource Box is included with the reproduction.
The resource box should contain links back to the author’s website and perhaps business telephone number so potential clients can contact them and order.
5. Direct Contact
Marketing communication by direct contact is less efficient unless talking to groups. And, even then, it is usually limited to a very finite number. This is in stark contrast to the other forms of marketing mentioned above.
Additionally, direct contact can be a more aggressive or assertive form of marketing and requires a unique verbal communication skill set. If direct communication is not handled correctly, prospects can be quickly alienated.
The underlying theme to direct contact is that efforts must be made to determine the interests of the consumers and to tailor solutions which accommodate their needs and interests, versus the needs of the marketer.
This applies to all forms of marketing, but especially poignant and noticeable with direct contact.
This final form of marketing communication is very strong and highly effective. It relies on the testimony of previously satisfied consumers to market. It is really marketing based upon strength in relationships. It has been reported that it is 6 times easier to market to someone where a relationship has already been established than to a new contact.
Referral-based marketing communication is the truest form of flattery or compliment that a business can receive as it reflects the genuine acceptance, appreciation, and approval of an established relationship. Theoretically, as a quality business grows, referral marketing of satisfied consumers can be a perpetual source of new clientele.
A key concept to remember when employing any form of marketing communication is that studies show that it typically takes an average of 7-9 exposures to a message before a consumer will respond to an offer. This means that your budget should bear that in consideration when deciding on a particular form of marketing communication.
A second fundamental concept is that you have to do split testing and statistical analysis to objectively determine which marketing messages, and marketing communication avenues, are producing.