Marketing is very vital for a company’s financial stability because it attracts customers and creates loyal ones. It generates a brand name for the company so people can evidently recognize it in the market place. Marketing helps customers in connecting with the brand on an emotional level that creates a psychological impact in their minds and creates a demand for that particular product, hence, increase in sales. It creates brand awareness and makes the business stand out. How you market your business shows whether the company will be successful or not. Marketing is a tool used to create and maintain demand, relevance, reputation, competition, and more. Without it, your business is likely to break apart due to a lack of sales.
Marketing Strategy and its Role in Success of a Business
“Marketing strategy is the comprehensive plan formulated particularly for achieving the marketing objectives of the organization.” It gives a blueprint for achieving the marketing objectives. It is the building block of the marketing plan. It is crafted after detailed marketing research. A marketing strategy helps an organization to concentrate its scarce resources in the best way possible to increase sales. A marketing strategy is designed by; (i) Choosing the target market, (ii) Gathering the marketing mix. A marketing strategy provides an organization an edge over its competitors, it also helps in developing goods and services with the best profit-making potential, it creates an organizational plan that helps in catering to the customer needs, it ensures effective departmental coordination, helps in optimum utilization of resources, and much more. In short, marketing strategy explains how an organization reaches its predetermined objectives.
What is B2C?
There are a lot of acronyms and terms in the business language, one of them is B2C and is also the most common. B2C in its simplest form is merely Business to Customer if further elaborated, it is best defined as the method of selling goods, products, or services for the customers’ daily lives. Understanding B2C can help build a successful business. B2C marketing is a form of marketing that helps businesses communicate more effectively and persuasively with customers. One example of B2C is marketing done through television, you see an advertisement for some sort of a snack and the plan on buying it the next time you visit the supermarket. The goals of B2C are, to raise brand awareness, getting more leads, increasing engagement, increasing sales, and furthering customer withholding, loyalty, and lifetime value. Most purchases today are done via the internet. In spite of the fact that the lines are complicating somewhere in the range of B2C and B2B advertising, there are key contrasts among B2C and B2B marketing strategies. While both try to make mindfulness in the brains of customers and at last prod revised deals, the strategies and procedures will in general vary significantly by and by today. Components including target market, kind of purchaser, sales cycle, and buy goal/triggers vary. Buyers by and large search out goods and services dependent on a prompt need, and make buys all the more rapidly, with less exploration and due loyalty than a business would lead. This awards B2C advertisers a lot smaller fateful opening to impact purchaser conduct.
What are Some Important Marketing Strategies for B2C Enterprises?
Achievement in B2C marketing implies producing emotional associations with purchasers. What’s more, today, online trade is exploding. In this way, B2C business is inseparable from a web-based business — and on the off chance that you need to construct a best-of-breed internet business site, various basic advances must be taken. Following are the 5 significant marketing strategies for B2C businesses;
Traditional Approach to Marketing
Accessibility is important when it comes to helping a business be successful, first the entrepreneur should focus on the common ways they could advertise the brand so it can reach to enough people. This strategy usually contains a wholesaler, manufacturer, and retailer who helps the products reach the market and to the consumer. The effectiveness of this method is basically backed up by the marketers who advertise and promote the product in outlets and shopping malls so they can reach out to the customers and create a positive impact on sales. This is a cost-efficient method yet restricted communication with the customers is conducted due to lack of availability, for examples;
- Newspaper Advertisements that could be found in between the spaces of the text.
- Print Marketing that in stores and shopping locations to convey that a certain product from a certain brand is available.
- Circulation of Pamphlets and Brochures done in places with a huge crowd so brand or product publicity could be effectively done.
- Marketing done through word of mouth is the most conventional form of marketing and it is also comparatively effective because often the people you trust tell you about a certain product availability which would build a desire in you.
Marketing through Digital Media
Social media helps in interacting with people from different places, it gives the business a wider scope to sell their product or brand. Social media helps build a healthier and stronger relationship with the customer, the customer can easily connect with the business and get their queries sorted out from a distance. Also, advertising or marketing on social media can help create a bigger hype since, nowadays, most businesses depend upon social media because that’s where the audience is to be found. Now, almost all of the renowned companies have started to do marketing online and achieved immense success. It is also relatively cheaper, well-timed, and more advanced than the organic approach. It is also a good idea for startups to create a social media handle to get people to gain more awareness about their brand. There are a lot of social media platforms where you can simply sign up in and run your business once you start gaining followers, such as Facebook, Instagram, Snapchat, or Linked-In, there are also many specific business apps built for specific purposes. If you don’t have any money in the budget for paid social, focus on building your following through strategic B2C marketing. There are lots of ways to get people more active on social when it comes to your brand.
Connect with Clients on a Personal Level
We should begin with content marketing. In case you’re centered around building associations with your prospects, you should deal with them like individuals dislike potential ATMs who will administer money for your items.
Regardless of whether you’re composing blog articles or posting via online media, make content that is credible to your voice and brand. Speak with individuals on a human level, regardless of whether you’re sharing your own story or helping them comprehend their disappointments.
The thought here is to introduce yourself and your business as an answer for whatever agony focuses your clients by and by experience. It’s important to have empathy when it comes to your clients who are willing to spend on your particular brand or services.
Influencer and Brand Representative Marketing
Influencers are transitory representatives of an organization on advanced stages where their fame is noticeable. Influencers are renowned and youthful people on explicit computerized stages that have an enormous fan finishing either their appealing appearances or explicit abilities that they depict to their crowds. Influencers are paid depending on the number of advancements they direct for an item or administration or brand; in this way, they are not perpetual brand ministers of an organization.
Brand Ambassadors are long haul agents of a business that sign agreements with an organization to remain elite to the organization’s image for a particular time. Inside this period, brand envoys like big names, prestigious competitors and renowned specialists are relied upon to;
- Promote the advertised product in the social media handles
- Promote the company by attending meetings and conferences
- Use the product to create a fanbase and likeness of it, so that the fans get attracted by it
- Appear the products’ advertisement
Media Content Spreading
Organizations put in inventive endeavors towards making media substance, for example, promotions however later wind up spending an abundance of capital on ambiguous media broadcasting which yields fewer outcomes as far as to change over clients. In this way, organizations need to apportion their financial assets in different channels with cost-productive systems to focus on particular customers under core interest. The primary motivation to utilize computerized promoting is that it is a minimal effort approach to arrive at a much lower cost. The various pathways that organizations can use to designate their ads and media content are;
- YouTube advertisements can be viewed by a huge number of audience and would help bring a lot of customers globally,
- Instagram, Snapchat or Facebook ads can also approach the public effectively by playing short clips or posting relevant description explaining the motive of the startup,
- Streaming live or doing online video/audio podcasts can also help assist the business reach out and increase the number of clienteles etc.
Marketing isn’t effective unless you keep your audience in mind, and no other audience is as fickle and critical as your customers. Your marketing should communicate how your brand is important for them. Use these strategies to understand your B2C audience, round out your buyer personas, and effectively use B2C marketing strategies that reach them.
Ready to ramp up your marketing efforts, but unsure of where to begin? Reach out to Riz and Mona Consultancy for complete guidance.