Did you know that by implementing a social marketing strategy, IBM was able to boost sales by 400%?
Strategic marketing is a crucial aspect of any business, as it helps organizations connect with their target audience and build relationships with customers. Social media marketing, especially, is an essential aspect of any modern marketing strategy, and all for good reason.
In this article, we will understand what is strategic marketing, why marketing is important for businesses, and the core concepts of marketing.
We will also explore the various marketing tactics that organizations can use to effectively market their products or services, drive revenue, and boost their online presence.
Let’s get started!
Read more: Social Marketing: What is it and Why it’s so Popular
What Is Strategic Marketing?
Strategic marketing is the process of creating, implementing, and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives.
It involves analyzing the market, identifying customer needs and wants, and developing a plan to meet those needs.
The goal of strategic marketing is to create a sustainable competitive advantage by effectively utilizing resources and maximizing the return on investment.
The Core Concepts Of Marketing
The core concepts of marketing are essential for any business looking to create an effective marketing strategy.
These include understanding the target market, creating a unique value proposition, developing a marketing mix (product, price, place, promotion), and analyzing market trends and customer behavior.
Here’s a bit more on each of the concepts:
1. Understanding The Target Market:
In order to effectively market a product or service, businesses must first understand who their target audience is.
This includes identifying demographic information, such as age, gender, income, and location, as well as psychographic information, such as values, interests, and lifestyle.
By understanding the target market, businesses can create marketing strategies and tactics that will resonate with their audience.
2. Creating A Unique Value Proposition:
A unique value proposition is a statement that clearly communicates the unique benefits and value that a business can offer to its customers.
It helps to differentiate a business from its competitors and is an essential part of any marketing strategy.
3. Developing A Marketing Mix:
The marketing mix is a set of tools that businesses can use to achieve their marketing goals. It includes the product, price, place, and promotion.
Here the ‘place’ refers to the location where the product is sold, and ‘promotion’ refers to the methods used to communicate the value of the product to the target market and not ‘promotional offers’.
4. Analyzing Market Trends And Customer Behavior:
Understanding market trends and customer behavior is essential for making informed decisions about product development and business strategy.
This includes analyzing data such as sales trends, customer feedback, and market research to identify opportunities and threats.
5. The Customer Journey:
The customer journey is the process a customer goes through when considering a purchase, it includes the stages of awareness, interest, consideration, and purchase.
Understanding the customer journey allows a business to tailor their marketing efforts to address the customer's needs at each stage.
By understanding their target market, creating a unique value proposition, developing a marketing mix, analyzing market trends and customer behavior, and understanding the customer journey, businesses can effectively reach and engage with their target audience, and ultimately drive sales.
The Importance Of Having An Online Presence
This section will highlight how and why marketing is important as a concept and the role it plays to drive a powerful online presence.
Having an online presence is crucial for several reasons:
1. Increases Visibility And Reach:
97% of consumers look for local goods and services online.
Through an online presence, businesses can reach a wider audience and increase visibility. This can help to attract more customers and boost sales.
2. Improves Accessibility:
An online presence makes it easy for customers to find and purchase products regardless of their location.
3. Showcasing Products And Services:
An online presence allows businesses to showcase their products and services in a visually-appealing and professional manner, which can help to attract more customers.
4. Facilitates Communication And Customer Service:
Having an online presence allows businesses to communicate and interact with customers in real-time, which can help to build trust and loyalty.
5. Enables Data Collection And Analysis:
An online presence provides valuable data and insights that can be used to improve the platform's offerings and customer service.
6. Allows For Social Selling:
It allows social commerce platforms, like Markaz, to sell products directly to customers using social media channels and tools.
Read more: Marketing with Facebook: Step-by-Step Process for 2023
7. Cost-Effective Marketing:
Businesses can easily market their products and services at a lower cost than traditional marketing methods.
8. Establishing Brand Reputation:
Having an online presence allows companies to establish their brand and reputation online, which can help to attract more customers and build loyalty among existing customers.
83% of American consumers who visited a store claim to have done some internet research first.
9 Social Media Marketing Tactics To Boost Your Online Presence
We’ve already established the importance of having an online presence, now, let’s look at some ways to accomplish that.
Here is a list of marketing tactics that can help boost your online presence:
1. Creating Engaging Content:
Create engaging and informative content that will appeal to your target audience. This can include product photos and videos, behind-the-scenes looks at your business, and customer testimonials.
Businesses that blog receive 55% more online traffic, and 57% of companies say they've gained a customer due to their blog.
2. Building A Community:
Build a community around your brand by engaging with your followers and encouraging them to share their own experiences and feedback. This can help to foster a sense of loyalty and engagement among your customers.
Partner with social media influencers in your industry to help promote your brand and reach a larger audience.
4. Running Social Media Ads:
Run targeted social media ads to reach a larger audience and drive more traffic to your website.
The second-largest market for digital advertisements is social media marketing.
5. Hosting Giveaways:
Host giveaways and contests on your social media channels to encourage engagement and attract new followers.
6. Creating A Strong Visual Identity:
Develop a strong visual identity for your brand that is consistent across all social media channels to build trust and credibility with your followers.
7. Utilizing Social Selling:
Leverage the power of social media to sell products directly to customers using social selling tools like Instagram shopping, Facebook Marketplace, and Pinterest Buyable Pins.
For example, Markaz is a social commerce platform that allows individuals and small businesses to resell products.
Their users can use Facebook as a marketing tool by creating a Facebook page and/0r group for their store, where they can share information about their products and services, post updates, and interact with customers.
With Facebook's paid advertising options, users can further reach a larger audience, and drive more traffic to their store; and with the Facebook marketplace, they can buy and sell items within their local community.
Read more: A Comprehensive Guide to Facebook Monetization in 2023
8. Providing Customer Service:
Use social media as a customer service channel to promptly respond to customer inquiries, and complaints and provide them with the necessary support.
9. Measuring And Analyzing:
Keep track of your social media metrics, such as engagement rates, website traffic, and conversion rates, to gain insights into what's working and what's not, and make data-driven decisions accordingly.
By implementing these marketing tactics, you can increase your online presence and attract more customers to your social commerce platform for resellers.
More About Markaz
Curious about Markaz?
Let us explain it more.
What is Markaz?
Markaz is a platform that allows its users to create their online storefronts, where they can list and sell products to a wide audience. It helps its users to leverage the power of social media and e-commerce to grow their businesses.
What Are Its Features?
Markaz provides a simple and easy-to-use platform for individuals and small businesses to start their online stores and sell products to customers with zero investment.
The platform supports various payment methods and also provides logistics support to help users ship products to customers.
Furthermore, it provides a marketplace for its users to buy and sell products, which includes various categories like fashion, beauty, home, and electronics.
The platform also provides a wide range of tools and resources to help its users improve their sales and marketing efforts, including analytics, customer support, and a wide range of marketing tools.
Read more: How to earn money online through the Markaz app
Who Is It For?
Markaz is a great option for small businesses and individuals looking to start their online store and reach a larger audience.
By leveraging the power of social media, Markaz can help its users to promote their products and increase their sales.
In conclusion, marketing is essential for any business looking to connect with customers, generate leads, and drive revenue.
By understanding the concept of strategic marketing, the importance of marketing, and the core concepts of marketing, organizations can effectively market their products or services and achieve their business goals.
Additionally, by implementing these marketing tactics, businesses can increase their online presence, reach more customers and ultimately drive more sales.
Read more: 5 e-commerce marketing tactics to try out in 2023
What is a tactic in marketing?
Specific marketing objectives are influenced by marketing techniques, which are the practical strategic actions that guide product creation, price, distribution, promotion, packaging, and positioning.
What is a tactic VS strategy?
Tactics are the specific stages and activities that will get you there, whereas strategy is the action plan that will get you there. This refers to the exact steps teams take to carry out the initiatives described in the strategy in a corporate setting.
What are the 4 R's of marketing?
The 4 "R"s of retail marketing are the relationship with the client, relevance, incentive, and cost-cutting are the four main tenets of retail marketing.