The goal of marketing is to bring your business to the attention of potential customers and encourage them to take action. Abeir Haddad, President and Founder of Tryton Capital Partners LP of West Vancouver, BC, believes that promoting your business involves using the right promotional mix to make it stand out from your competitors. Three marketing styles can help your business grow in creative ways: cause marketing, relationship marketing, and undercover marketing.
What Is Marketing?
Marketing is a process designed to make your business more known to potential customers and encourage them to act. Abeir Haddad feels that many factors can affect the success of a product or service, including pricing, quality, and the promotion strategy used. Many entrepreneurs first focus on promoting their business through various forms of advertising, but other techniques can successfully get the word out about your company.
Traditional vs. Non-Traditional Marketing
There are two main types of marketing: traditional and non-traditional. Traditional marketing is the more common type and includes advertising, PR, sales promotion, and direct marketing. Non-traditional marketing is used for newer methods used to promote products and services. This type of marketing includes online social media, guerrilla, and experiential marketing.
Here are three types of non-traditional marketing your business could benefit from.
Cause Marketing
Cause marketing is when you do something for charity or a good cause, then tell people that’s what you’re doing. “It’s good for others; it’s good for our business.”
Cause marketing is an initiative that involves a company teaming up with a charity or non-profit organization to promote a product or service. The goal of cause marketing is to create a mutually beneficial relationship in which the company can increase its visibility while also doing some good in the world. Abeir Haddad understands that there are many different ways to get involved in cause marketing. It can be a great way to connect with customers interested in making a difference.
How Does Cause Marketing Work?
There are two main types of cause marketing: product placement and cause-related marketing. The company donates a product or service to a charity or organization in product placement.
You may ask them to support your campaign by buying some products (and encourage them to buy more than one). They’re more likely to return if they like what you’re doing. It’s also good publicity for the community if people see their neighbors supporting you with individual donations or bigger ones, as giving cash prizes draws every time you do well.
Relationship Marketing
Relationship marketing gives your customers or clients something special to help them solve their problems. For example, if I’m having problems with my blog, the “blog guru” could offer me one-on-one tutoring sessions via Skype to help me get it up and running again (for a fee, of course). Abeir Haddad feels their benefit is making more money by getting an extra customer to pay for his services. Relationship marketing can also be used between employees in minor ways, like getting the IT guys to fix their computers so they won’t have to call him all the time at $125 per hour.
How Does Relationship Marketing Work?
There are two main ways to implement relationship marketing: one-on-one relationships and group relationships. One-on-one relationships occur when the company builds strong connections with customers or clients. This is done by identifying customers’ specific needs and providing effective solutions, like the blogger offering tutoring sessions via Skype. Group relationship marketing occurs when the company focuses on building relationships with customers, such as employees or clients. This is done by providing a shared value to the group, such as discounts or special offers.
Undercover Marketing
A company might send somebody into their own business to pose as a customer. They’re given a list of things they should be looking for when checking out the products or services you provide. This is good because it gives them an insight into what your customers are thinking about when they visit your place of business. It’s also good for you because it’ll help you make any necessary changes to your business, like hiring better employees or improving the quality of the products offered.
Doing some market research can greatly improve your company’s chances of success by designing an effective promotional mix. The three types of marketing mentioned in this article each bring potential customers into contact with your business in creative ways that can be used to maximize the amount of revenue generated by new leads and old customers alike.
How Does Undercover Marketing Work?
There are two main ways to implement undercover marketing: using an actual or robotic customer. An actual customer is somebody who goes into your business and provides feedback on the products or services you provide. This can be done by regularly sampling products, interviewing customers, conducting surveys, etc. A robotic customer is a computer program that visits your website or business and provides feedback on the products or services you provide. This can be done by recording customer interactions, analyzing website usability, and providing feedback on the quality of your products and services.
Final Thoughts
Using one or more of these three types of marketing can greatly improve your company’s chances of success. However, each type of marketing should be used in conjunction with the others to get the most out of each one. Undercover marketing is great for getting insight into your customers’ thinking, relationship marketing is great for building customer loyalty, and cause marketing is great for attracting new customers. Try using all three types of marketing to get the most out of your business.
