Best Marketing Strategies used by Companies

Marketing is a practice of making, giving, and sharing something of value with customers, clients, and society in general. Businesses use marketing strategies as plans and actions for reaching their marketing goals and objectives – these plans may differ depending on size, industry, target market type and other considerations.

Today, I will discuss some of the best strategies businesses can employ to market themselves in 2024 and share the best marketing strategies used by companies with a successful companies who have implemented similar tactics successfully and experienced tremendous results.

Digital or online marketing (also referred to as “digital promotion”) refers to any promotion of goods, services, brands and causes through digital channels such as search engine optimization (SEO), pay-per-click advertising (PPC), branding, social media ads (BMCs), video marketing emails content marketing etc. are all tools of online promotion used for promotional activities online marketing can take advantage of.

Some companies that have found success with online marketing include:

Netflix is an immense streaming service that has used online marketing strategies to gain new subscribers, create original material, and interact with its fans. They utilize SEO techniques to rank highly in search engines for popular keywords; PPC ads to target specific customers according to their interests and behaviors; remarketing to engage past visitors and subscribers again; social media ads to create buzz and viral campaigns; video marketing to showcase its shows and movies; email marketing with subscribers for offering customized recommendations; as well as content marketing to provide useful information for their target audiences.

Amazon: As the online shopping giant of choice, Amazon has used online marketing to become the dominant force. Their strategies include SEO to optimize product pages and listings for relevant keywords; PPC to drive traffic from search engines and other websites; remarketing to remind customers about abandoned carts or wish lists they may have left unfinished; social media ads featuring products and offers; video marketing showing off features and benefits; email marketing to keep customers satisfied and encourage repeat purchases; content marketing to educate its customer base.

Transactional marketing

Transactional marketing occurs when selling something directly to an individual or a group.

In this marketers focus on the benefits, price, quality and ease of use associated with products or services they sell in order to encourage more people to buy the product or service quickly.

It can be an excellent way for businesses that lack loyal customers or competitors, short product life cycles or low profit margins to promote themselves effectively. Transactional marketing helps these businesses increase sales, income, market share and profits.

Transactional marketing is utilized by some of the following companies:

Those companies are following the best marketing strategies used by companies.

Walmart: They have made use of tools such as price matching kiosks3, price matching coupons and self-checkout kiosks3 among others to make this possible.

McDonald’s: As one of the premier fast-food franchises, McDonald’s uses transactional marketing to provide its customers with quick service, good food, a variety of choices and ease of use. Utilizing menu boards8, mobile ordering9, drive-thrush and delivery services as part of transactional marketing strategies they successfully attract customers who require their food quickly.

Marketing built upon relationships

Relationship marketing is a form of promotion that emphasizes long-term connections with buyers. It places great emphasis on customer happiness, loyalty, retention, referrals and growing the business. Relationship marketing strives to build an intimate bond between a company and their customer, with an end goal of getting repeat purchases as well as word of mouth advertising of what a great experience they had buying from that particular brand. It can be an effective strategy for businesses with loyal customers, low competition, long product lifespans or strong profit margins. Through relationship marketing they can increase customer lifetime value while decreasing acquisition costs. Furthermore, relationship marketing enhances brand image while garnering feedback from their customer base.

Relationship marketing has been implemented by several companies:

Apple: As one of the leading tech firms, Apple has established a loyal fan base and an exceptional brand identity through relationship marketing.

Starbucks: This coffee giant has earned itself an exceptional reputation by cultivating loyal customer bases, creating strong brand images, and having a positive effect on society and the environment through relationship marketing. They use various strategies such as customer rewards, social media interactions, cause marketing initiatives and customer feedback surveys to engage and interact with their target market customers – creating experiences with meaning for those searching for deeper meaning in life.

Marketing for a good cause

Cause marketing is a form of advertising designed to align a company’s morals with social or environmental causes. In this marketing typically entails forming partnerships with non-profit groups, giving a portion of sales or profits directly to them, raising publicity or funds for said cause, or doing other things to support it. Cause marketing strives to show how socially responsible a company is while setting it apart from competitors while appealing to customers’ sense of morality and fair play.

Here are some examples of companies who have

followed the best marketing strategies used by companies.

TOMS has built a social business, unique value proposition and loyal customer base through cause marketing. They utilize the “One for One” plan; with every pair sold they donate another pair to children in need. In addition, TOMS expanded its cause marketing to other goods such as glasses, coffee and bags – helping people see, get clean water supplies or have safe births among many other causes.

Dove is a beauty brand that has used cause marketing to build a social movement, an appealing brand identity and a substantial customer base. Their “Real Beauty” campaign seeks to fight unrealistic and harmful beauty standards set forth by media and society while celebrating women for who they truly are – celebrating uniqueness as real beauty rather than the unrealistic standards pushed forth by society and media. Dove also helps with issues such as self-esteem, body confidence, women’s rights and much more.

Paid advertising/promotion

Paid promotion is one of the best ways for businesses to market themselves and generate awareness quickly while reaching their ideal customers.

Notable companies who have successfully utilized paid advertising include:

Spotify has used paid promotion as a way to gain new users, create original material and compete with other music streaming services. They do this in various ways such as social media posts, podcast ads or influencer marketing on YouTube – just some examples!

Airbnb is an online marketplace where people can rent accommodations. Airbnb uses paid advertising to build brand awareness, obtain user-generated content, and expand its market. They utilize various methods for showing off listings, events and stories such as sponsored blog posts on blogs, search engine ads and influencer marketing on Instagram to do this.

Word-of-mouth marketing

Word-of-mouth marketing (WOMM) is a form of advertising which relies on customer reviews and recommendations to spread positive experiences with products, services, brands or causes. Customers share these good experiences by telling friends, family, coworkers or online communities about them. WOMM also ensures customers tell others of their satisfaction with your company’s offerings whether that means products, services brands or causes they have encountered in person or online communities they frequent about how satisfied they were with them.

Word-of-mouth marketing’s goal is to build trust and establish credibility while garnering free traffic and leads. Word-of-mouth is one of the best strategies for businesses with niche markets or service satisfaction issues to market themselves effectively; current customers become powerful supporters, marketing agents and influencers for spreading awareness of products sold.

Some companies who have found success using word-of-mouth marketing are:

Dropbox: Dropbox’s cloud storage service has relied heavily on word-of-mouth marketing to expand their user base and reduce acquisition costs. Their recommendation program awards additional space both to those inviting people as well as those invited themselves.

Dropbox has displayed customer comments on its website and social media to elicit more of them, while Tesla used word-of-mouth marketing to increase brand recognition among potential buyers, win over loyal supporters, and boost sales.

Tesla recently initiated a referral program that offers benefits to both parties involved – those sending someone and those receiving. Benefits such as free Supercharging, discounts on goods or services purchased with referral credit, access to new models and more have all been highlighted on its website and social media. Tesla has also shown customer reviews from both parties on its site in order to encourage more to join.

Conclusion of best marketing strategies used by companies.

These are some of the best strategies a business can employ in 2024 to sell itself successfully. These tactics do not contradict each other, allowing businesses to combine multiple approaches towards reaching their marketing goals.