Effective marketing and advertising are some of the most important aspects of a successful business. In the business world, the end goal of marketing is driven by revenue.
This means the main aim of business marketing is to increase profits. As such, all marketing strategies should be in line with this aspect. Herein are several effective types of marketing and advertising.
TRADE SHOW MARKETING.
Trade shows are events or exhibitions where companies in a certain industry showcase their products and services. Trade show marketing is a form of advertising where marketers promote their products or services at trade shows. Each company or business is represented by a booth housing the company’s representatives.
Trade show marketing is one of the traditional forms of marketing that is still highly productive today in the face of e-commerce. It usually has the highest cost per lead of any promotional activity. This is because people who attend trade shows are often qualified buyers.
Over 78% of exhibitors admit to using trade shows to generate leads from new prospects. The face time makes it much easier to close down on potential leads than say internet marketing or email advertising. This tactic also provides face-to-face encounters with key industry players, thus helps to raise awareness of a company. This aspect is very important to the strengthening of business brands.
Trade shows are also good platforms for marketers to strengthen partnerships and business relationships. Additionally,
2. INBOUND MARKETING.
Inbound marketing is a relatively new form of marketing. The truth today is that most prospects do not want to be bombarded with print and TV advertisements. With these changing consumer trends, marketing strategies had to change too.
Inbound marketing is based on tactics that draw qualified buyers to a business’s doorstep. It was largely stimulated by the developments in e-commerce. Inbound marketing focuses on customers choosing to learn more about a business, opting into email subscriptions, watching business videos and basically being a business’s “fans”.
The main advantage of this type of marketing is that it is a more cost-effective and quantifiable method of generating leads and closing more deals than traditional marketing. It also strengthens business brands as it dwells more on building a community through engaging websites, blogs, releases and articles.
3. SOCIAL MEDIA MARKETING.
Social media advertising has often been praised as the next generation of business engagement. It drives lead generation directly through content sharing and interaction. Social media in many ways influences consumer trends.
Billions of people log into social media platforms daily. With such numbers, it is definitely one of the most important advertising tools for any business. Social media advertising exposes products and services to much larger audiences consequently increasing customer bases.
This translates to more profitability for a business through user conversion. It also facilitates target advertising, whereby marketers focus on a niche demographic. Moreover, it is ideal for business-to-business (B2B) advertising through creation of business networks on social media platforms.
There are many others types of marketing and advertising including email advertising, product advertising, direct response marketing, internet marketing, print marketing and corporate advertising. Any strategy should ideally focus on increasing convertible leads.