Marketing

Rogue Ways Of Marketing Your Business

Arnab Dey

Marketing Jan 24, 2023

In the middle of a cost of living crisis, every single penny that you spend on promoting your business needs to see a good return on your investment.

Markets are contracting, and your share of that market will contract with it unless you put yourself out there and make more noise. Getting rid of marketing spending in order to save money is a false economy.

A better approach as times get tough is to be more clever about your marketing. Turn the volume up, adopt new and different strategies, and push your own boundaries. Seek out activities that require very little cost but could elevate you above the general hubbub and give you the added exposure that is going to bring customers to your door.

While every business is different, we’ve highlighted some of the ways you can take your marketing to a different level with a minimal budget and potentially good return. Ultimately what you decide to do will depend on your particular sector, but we hope that these ideas will get you thinking outside the box and encourage you to explore different marketing paths.

Here Are Six Prime Ways Of Marketing Your Business

1. Newsjacking

Newsjacking is the art of taking popular and trending news stories and linking them in some way to your service or product on social media. This could be anything from wishing members of the Royal family a happy birthday, to having an opinion on the latest contestants of Love Island, to making jokes about the latest political shenanigans.

Newsjacking can generate more press, increase brand awareness, and attract new eyeballs to your business.

2. Customize ALL packaging

This is particularly important for businesses with a physical business – whether you are selling luxury high-end products or basic ranges, your packaging is a constant vehicle for brand awareness.

Going through the entire life cycle of a product, from design to delivery, every stage has opportunities to customize with more brand identity. From the packaging on the shelves to the plastic pallets that are used in transportation.

3. Sponsor a local artist to create a mural on your wall

Does your business have a physical building? Could you maybe seek out a local artist who could paint you a mural on a large empty wall? You need to pay the artist (they do, after all, need to make a living!) But not only does it create a show-stopping public visual representation of your brand and company for all to see, but it can also produce its own press and publicity as something interesting and unusual.

4. Do a TikTok dance video with employees

You may want to get your younger employees involved in this – but there’s usually a song and dance trending on social media. Set aside a few minutes each day to practice, and then make it a big social event among your employees for the actual filming. It’s a great team-building exercise.

5. Engage on social media

Do you regularly post on social media? Even if you do, you need to do more than just post. You need to engage – as this is your opportunity to talk directly with potential customers.

Take some time out each day to go through and engage with the posts of people you want to be targeting. Not only will this increase your presence in front of them, but it will also help with your own algorithms and get your own posts trending on more timelines.

6. Source support from your biggest suppliers

The better you do, the better your suppliers do – partner up with your suppliers on different marketing activities and seek both financial and practical help and support from the.

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Arnab Dey

Arnab is a professional blogger, having an enormous interest in writing blogs and other jones of calligraphies. In terms of his professional commitments, He carries out sharing sentient blogs.

Network Marketing: What Is It? Is It The Right Option For You?

Network Marketing is a type of business model that constitutes a group of people forming a network to earn from sales commissions, as well as through new joinings to the network. This system creates a flexible approach to the business, where a new member (as a salesperson) also becomes a business owner. The system has been in existence for many decades and has evolved multiple times since. In this article, you will learn the essential details about network marketing (also known as multi-level marketing). You will also learn how network marketing works, as well as the types of network marketing options with the help of which businesses operate. Finally, we will also look at some of the major advantages and disadvantages of network marketing for businesses. Hence, to learn more, read on through to the end of the article. What Is Network Marketing? According to Investopedia, “Network marketing is a business model that depends on person-to-person sales by independent representatives, often working from home. A network marketing business may require you to build a network of business partners or salespeople to assist with lead generation and closing sales. There are many reputable network marketing operations, but some have been denounced as pyramid schemes.” The network marketing businesses that run through pyramid schemes focus more on the recruitment of salespeople. This is because new salespeople are required to pay upfront for expensive starter kits. For these payments, the people up the order in the pyramid get commissions. Most companies that you will come across run through pyramid schemes. Hence, if you are looking to join a network marketing company, make sure that it is not a scam. Most companies with pyramid schemes have been banned due to running scams. Therefore, research is essential before you are looking to join a network marketing business. Some of the most famous network marketing companies are Amway, Avon Products, Tupperware, Herbalife Nutrition, etc. Read More: Market Segmentation: Definition, Types, Benefits, And More How Does Network Marketing Work? - Types Of Network Marketing Every network marketing business focuses on sales as the most important factor. In such a business, a core sales team specializing in sales starts selling products and brings in new salespeople. Here, each of the salespersons in the core team brings in new salespersons, thus creating a new tier. Each of the salespersons in the new tier creates another tier in the same way. This is how the team takes the shape of a pyramid as the tiers increase. With more tiers, the team gets more salespeople, who add to more sales of the business. The salespeople earn commission based on the number of items they sell. however, there is an interesting catch in this business model. With each sale, the people up the order get commissions based on their rank. However, this feature is different in many companies. Types Of Network Marketing The following are the major types of network marketing options: 1. Single-Tier Here, the salespersons in the team earn based on direct commission. Getting another tier of people is not compulsory. Here, affiliate marketing strategies come into play. 2. Two-Tier In this case, apart from earning direct sales commissions, salespersons also earn through commissions for new recruits. 3. Multi-Tier Marketing It consists of more than two tiers of people. Both direct sales commissions and indirect recruitment commissions are available in this case. Network Marketing - Scam Or Legit? Many network marketing businesses had their rise during the COVID-19 lockdowns. As people were locked in their homes, they were looking to make more money. Since the internet was a huge relief for many, and social media users grew, many people started online counterpart to advertise their products and brands. This led to many such businesses getting bigger. However, there were many scams as well. According to Wall Street Mojo, “By recognizing the potential for such gig works, many businesses exploited the people looking for jobs by making them pay upfront for training materials. Their objective is to earn money from people in the name of a business. Thus, the pyramid schemes focus not on customers but on workers who become the bait.” What Are The Advantages Of Network Marketing? Here are some of the major advantages of network marketing that you will benefit from: It helps to bring together people who are sales enthusiasts. For many people, it offers a secondary source of income by acting as an affiliate. They only pay those who contribute to sales, which is a gain for the business. The company does not need to think about recruitment or providing additional benefits to employees. In most cases, the business supplies quality products. What Are The Disadvantages Of Network Marketing? According to Entrepreneur.com, “Things can get sticky when a network marketing network compensates participants primarily for recruiting others rather than for selling the company's products or services. A network marketing system in which most of the revenue comes from recruitment may be considered an illegal pyramid scheme.” The following are a few disadvantages of network marketing, which you must be aware of: It is difficult to predict the production targets for the business. Manufacturers have a limited role in facilitating the distribution of the products. Too much focus on creating a pyramid of salespersons and earning through commission leads the business to trouble. New distributors have to spend a lot at the start. Many businesses are found to be scams. Read More: Micromarketing – What Is It? How Does It Work? Pros And Cons Wrapping Up Hope this article was helpful for you to get a better idea of what network marketing is and how it works. You might have already understood that it is mostly suits those people who have high energy and top-end sales skills. If you are confident about building a profitable business with a modest investment, network marketing can be a good option for you. You can choose a single-tier, two-tier, or multi-tier approach based on what you are comfortable with. However, research well before you join a network marketing company. Do you think this can really help in achieving financial independence? Share your thoughts on the matter in the comments section below. Read Also: Marketing Mix – What Are The 4 Ps Of Marketing? Market Orientation – What Is It, And How Does It Work? Market Cannibalization – Definition, How Does It Work, Example, And More

Micromarketing – What Is It? How Does It Work? Pros And Cons

Micromarketing is a marketing strategy that businesses adopt to target new audiences by collecting data about the consumption habits of the target audience. Hence, while promoting their products and services, it gets easier for businesses to design and implement their marketing strategies to work for niche audiences. It is one of the most effective strategies businesses use to market their brand. In this article, you will get a general idea of Micromarketing and how it works for business. Apart from that, we will also discuss the various levels of micromarketing that businesses go through to market their products and services. Finally, we will also look at some of the major advantages and disadvantages of micromarketing. Hence, to learn more about this marketing strategy, read on through to the end of the article. What Is Micromarketing? According to Investopedia, “Micromarketing is an approach to advertising that tends to target a specific group of people in a niche market. With micromarketing, products or services are marketed directly to a targeted group of customers. To make use of micromarketing techniques, a company has to narrowly define an audience by a particular characteristic, such as gender, job title, age, or geography, and then create campaigns geared toward that specific group.” However, on the other hand, micromarketing is also one of the most expensive marketing techniques to implement. This is because there are various issues related to the procurement of data and customization, as well as a lack of an economy of scale. Despite its limitations, micromarketing seems to be a very cost-effective option if it is implemented correctly. This is due to the reason that there is a big return on investment, as compared to the efforts that the company puts into marketing. Apart from that, micromarketing also enables the business to build a personal relationship with the customers. It is really easy to learn about the needs and demands of the customers with the help of micro-marketing. One of the major reasons for this is that businesses gather data related to consumption types, location, and other demographic factors. Hence, in the long run, the company gets a loyal customer base as time passes. Read More: Market Segmentation: Definition, Types, Benefits, And More How Does Micromarketing Work? With the help of micromarketing, companies select a narrow population of their target audience based on the latter’s unique needs and demands. They do this to market their products and services to maximum effect so that there is a better return on investment. According to Wall Street Mojo, “Due to customization and a lack of economies of scale, it may be more expensive than other marketing strategies. However, for firms working in a cutthroat market, marketing is essential. Companies utilize marketing to grow their customer base, sales, brand recognition, and profits.” However, whether the company will have long-term viability or not depends on the level of its marketing efforts. No matter how many sales the company makes, it is still essential for the company to determine its target market in detail. Otherwise, it will be difficult to launch a successful marketing effort. With the help of social media, micromarketing reached new heights. This is because it is easier to procure data from social media analytics. Based on the interaction of the consumers, as well as their likes and dislikes, companies segregate audiences into various categories. Micromarketing: An Example Red Bull is a company that used micromarketing as a strategy to target their audience. They targeted the youth who loved to participate in extreme sports. Hence, they considered building a marketing strategy around that. According to the Corporate Finance Institute, “The energy drink manufacturer started sponsoring extreme sports events, such as cliff diving in Hawaii and skateboarding in San Francisco. It created excitement among the youth, who were attracted to the energy drink. Other extreme sporting events that Red Bull sponsors are rock climbing, windsurfing, and Formula One racing.” What Are The Major Levels Of Micromarketing? The following are the levels of micromarketing that companies use: 1. Customer Segments: Here, companies choose a market and break it down into segments using different data and marketing methods. 2. Customer Niches: The companies then find target customers who have similar preferences for products and the ones that act as a group. 3. Local Areas: Here, companies identify local areas, and this factor helps companies specify the type of marketing to use and get an idea of the segment that uses the product. 4. Individuals: Here, companies get data on the habits of consumers. They, therefore, collect information at the individual level to understand the marketing segment. The Major Advantages And Disadvantages Of Micromarketing The following are the major advantages and disadvantages of micromarketing for businesses: Advantages Of Micromarketing Here are some of the major advantages of micromarketing a business benefits from: It is really a cost-effective marketing tool Businesses of all types and sizes can use this marketing strategy A company is able to know every detail related to consumer habits and customizes its products and services accordingly It is easier for the target audience to provide feedback A better Customer loyalty Disadvantages Of Micromarketing Here are a few disadvantages of micromarketing that businesses must be aware of: Research consumes a lot of time. The company gets stereotyped as one product. Failure of implementation leads to a lot of risk. A smaller customer base might saturate later. Acquisition of new customers can happen at a higher cost than usual. There is a higher chance of missing the target audience. Read More: Marketing Mix – What Are The 4 Ps Of Marketing? Wrapping Up The goal of micromarketing is to create a highly targeted and niche audience based on various factors like profession, age, gender, location, etc. This is done to make sure that brands can convey their message through advertisements fast. This type of marketing strategy also allows businesses to have a loyal customer base, which helps the business to grow better. A company’s ultimate target with micromarketing is to target a group of customers and enable them to take action to buy the offerings of the company. Do you have anything to add regarding the role of micromarketing in business? Share your ideas and opinions with us in the comments section below. Read Also: What Is Social Entrepreneurship? – Steps To Become A Successful Social Entrepreneur Business Entrepreneurship – What Should You Know Before You Start A Business? What Are The Different Types Of Entrepreneurship? – Take A Look

Realtor Postcards An Effective Marketing Tool: Debunking Common Myths

Real estate agents always look for ways to get their name out there and attract new clients. Realtor postcards are a marketing tool that has been around for a while. However, there are some common myths surrounding the use of postcards in real estate marketing. This article will debunk these myths and explore why real estate postcards can be an effective marketing tool. Myth #1: Postcards are outdated: Some believe postcards are outdated and ineffective in today's digital age. However, this is not true. Postcards are a tangible marketing tool that allows real estate agents to connect with potential clients in a way that digital marketing cannot. When potential clients receive a postcard in the mail, they are more likely to notice it than they would with an email or social media post. Postcards also have a longer shelf life than digital marketing, as they can be displayed on a refrigerator or bulletin board for weeks or months. Myth #2: Postcards are expensive: Another common myth about realtor postcards is that they are expensive to produce and distribute. While it is true that postcards can be more expensive than digital marketing, they can also be more effective. Postcards are a targeted marketing tool, allowing real estate agents to reach potential clients in a specific area or demographic. By targeting their marketing efforts, agents can increase their chances of attracting new clients and closing more deals. In addition, there are many cost-effective printing and mailing options available today. Many online realtor postcard suppliers offer affordable postcard printing and mailing services at reduced costs. Myth #3: Postcards are not customizable: Some people believe that postcards are a one-size-fits-all marketing tool and are not customizable to the individual agent's brand or message. However, this is not true. With online realtor postcard suppliers, real estate agents can create custom postcards that showcase their brand and message. Agents can choose from various designs, colors, and layouts to create a postcard that reflects their unique style and message. In addition, agents can personalize their postcards by including their photos and personalized messages. By creating a unique postcard for their brand, agents can increase their chances of standing out from the competition and attracting new clients. Myth #4: Postcards are ineffective: The most common myth surrounding realtor postcards is that they are ineffective at attracting new clients. However, this is not true. Postcards are a proven marketing tool that can help real estate agents generate leads and close deals. Many studies show that direct mail, including postcards, can have a response rate compared to email marketing's response rate. Tips for Creating Effective Postcards: Personalize it: Personalize your postcard by including photos and a personalized message. This will help create a personal connection with potential clients and increase the chances of generating a lead. Target your audience: Use postcards to target a specific audience or geographic area. By tailoring your message to a specific audience, you can increase your chances of attracting new clients. Include a call-to-action: Include a call-to-action on your postcard, such as visiting your website or calling for more information. This will encourage potential clients to take action and contact you. Conclusion: Real estate postcards are a proven and effective marketing tool to help agents generate leads and close deals. While there are some common myths surrounding using postcards in real estate marketing, these myths have been debunked, and postcards can be an excellent way to connect with potential clients and showcase your brand and message. Read Also: Digital PR: The Gamechanger Of The Marketing Landscape Top 10 Strategies For Hosting A Successful Live Streaming Event How To Run A Social Media Campaign At A Low Budget For An Aspiring Entrepreneur?

Market Segmentation: Definition, Types, Benefits, And More

Marketing is only successful for a company when the company markets to the right people in the right way at the right time. This is where market segmentation comes into play. It helps businesses tailor their sales campaigns and marketing plans to target niche customers while making the promotion engaging and the product appealing. Businesses do market segmentation to narrow down their target market. In this article, you will learn about market segmentation and how it works for businesses. Next, you will also learn about the major types of market segmentation that marketers use for promoting products and services. Finally, we will also look at some of the major benefits and limitations of market segmentation. Hence, to learn more about this marketing strategy, read on through to the end of the article. What Is Market Segmentation? According to Investopedia, “Market segmentation is a marketing term that refers to aggregating prospective buyers into groups or segments with common needs and who respond similarly to a marketing action. Market segmentation enables companies to target different categories of consumers who perceive the full value of certain products and services differently from one another.” Here, the marketers of a company first find out the target market and then divide the market into small groups and subgroups. In this case, consumers in the small market segments share similar interests, needs, and characteristics. As a marketer, if you target a small group of a large market, you will be able to connect with consumers who are more likely to pay for products that appeal to them directly. Basically, if you use market segmentation, it will be easier to manage a large audience and segment them to create a personalized and targeted market experience. With market segmentation, as a marketer, you will be able to focus more on your marketing efforts towards your individual customer segments. This will help you to cater to the specific desires and needs of your target customers. Read More: What Is Continuity In Business, And Why Is It Important? How Does Market Segmentation Work? According to G2.com, “Market segmentation aims to introduce a tailored message that will be received successfully. This is advantageous for companies with a product or service in the marketplace that boasts multiple benefits or uses for different types of customers. Accept the fact that you can’t be everything to everybody, and as a marketer, you can’t solve everyone’s problem or appeal to every single person.” Hence, market segmentation is a useful and effective growth strategy that marketers implement to reach strongly with their offerings to the target audience. To identify different market segments within a market, companies use three criteria - The segment’s common needs (Homogeneity) The uniqueness of the group from others (Distinction) A similar response to the market (Reaction) Let’s take an example of an apparel store having different market segments for football players and basketball players. Being part of different groups, football players and basketball players respond to different advertisements. If the apparel company understands the uniqueness of these two different market segments, branding will be easier for them. What Are The Types Of Market Segmentation? The following are some of the major types of market segmentation that marketers implement to find out their niche market: 1. Demographic Segmentation Here, companies break the market segment into common demographics based on gender, age, income, race, education, occupation, and more factors. With this segmentation, companies assume that individuals belonging to similar demographics have similar needs. This is one of the most common methods of market segmentation. 2. Geographic Segmentation Here, the marketers segment a particular population based on factors like physical location. In this case, they assume that people living within a given geographical area have similar needs. It is a great strategy that larger companies use if they want to open new branches in a new place or want to expand their operations. 3. Psychographic Segmentation Here, the company tries to segment a population based on personality, lifestyle, opinions, and interests. This makes it one of the most difficult market segmentation approaches. This is because these are difficult to achieve since objective data are not available on these traits, and these traits change easily. However, if done properly, these provide the strongest results. 4. Behavioral Segmentation In this case, marketers depend a lot on consumer actions, market data, and the consumers’ decision-making patterns. Here, the grouping of the consumers is done based on how they have previously interacted with markets and products. The previous spending habits of the consumers show what they actually want. What Are The Benefits Of Market Segmentation? According to Shopify.com, “It’s easier to reach, target, and engage customers with a niche business that specifically appeals to a segment of the market. Use this strategy to identify the most profitable segments for your business. Remember, market segmentation isn’t a one-off activity, as consumer preferences change and new competitors emerge.” The following are the major benefits of market segmentation: Better resource efficiency The brand image gets stronger It creates a higher potential for brand loyalty Targeted advertising is better Market differentiation is more effective What Are The Limitations Of Market Segmentation? The following are a few limitations of market segmentation that you need to be aware of: The upfront marketing expenses are higher, as companies spend a lot on gaining data. Since a large market is under consideration, the product-line complexity increases as a result. Misassumptions are common, and this creates a lot of risk for marketers. The process of market segmentation can only be done if the data is reliable. Hence, it depends a lot on the source of data. Read More: Business Continuity Plan – What Is It, And How Does It Work? Wrapping Up With the help of market segmentation, marketers try to identify targeted groups of consumers so as to tailor their own products and services to make them attractive to the customer group. The segmentation is done in four main ways - demographically, geographically, psychographically, and behaviorally. With the help of market segmentation, companies can minimize their risks by finding out which products are the ones that are most likely to earn the attention of the target market. What do you think is the most important benefit of market segmentation? Share your opinions with us in the comments section below. Read Also: Marketing Mix – What Are The 4 Ps Of Marketing? Market Orientation – What Is It, And How Does It Work? Market Cannibalization – Definition, How Does It Work, Example, And More

Rogue Ways Of Marketing Your Business