Niche Marketing: It is a specific style of marketing. It focuses on specific demographic or specific psychographic. In niche marketing, a product is sold to a defined target audience which eliminates the competition and captures the whole market for that particular product easily. Forex: There are various sports channel but “star cricket” shows only cricket so all the cricket lovers visit directly to star cricket. This is called niche marketing.
Trade Show Marketing: It is getting very popular as industries are evolving and organizing day by day. Everyone from the same industry comes under one roof. This is called trade show marketing. It is easy to build new clients, vendors, and import and export service. A person can do unusual demonstrations, speeches or promotional events to attract more people towards your area. Forex:” Apparel industry”: everyone related to cloth business will come under one ecosystem like a retailer, designer, tailor, fabrics provider, seller etc. You get new vendors bulk services easily here.
Social Media Marketing: The very known popular source of the market nowadays is social media marketing. Around 45 Crores people are active users on internet in India and these numbers will increase to thrice that is 85 crores in 2021. So, you can’t miss the market with such high growth. The best part of social media is your customer also shares reviews about you and your product if he likes the product. It increases the credibility and trust factor for your product. There are many analytics tools available in the market through which you can retarget or perform remarketing on social media sites which increases the closure for the product.
Freebie Marketing: This market gives huge success if applied strategically on the market. In freebie Marketing, we give low-value item in free so that high-value item can be sold easily. Forex: socks with shoes, free seminars etc.
Undercover Marketing: This is a hidden style of marketing which is called buzz marketing too. In this, the hype is created from backend earlier like excitement, energy is built, curiosity is generated slowly over the customers regarding the product. At the time of product launch, customers are more keen to know about the product. Forex:” movies” political, religious or social controversies are created it becomes the talk of a town, everybody starts talking about that. This is one of the strategies of undercover marketing.
Outbound Marketing VS Inbound Marketing: Both are very effective and efficient but depends on which one is beneficial for your business. In outbound marketing,you outreach audience whereas in inbound marketing customer reaches you Outbound marketing includes, telemarketing, cold calling, tv commercial, radio commercial. In inbound, you can do blogging, generate traffic by email marketing. Hype can e generated on social media so customer visits your landing page. Through SEO you can rank your keywords on the first page of google and can generate leads.
Cross Promotion Marketing: In this marketing, two or more than two people join together who’s customer is similar but have a non-competing product. It increases marketing reach but the budget does not increase. It is a win-win situation for both. Forex: “BMW Car and Louis Vuitton bag “Louis Vuitton bags cost around 80k to 1 lack and BMW cost around 80 lac to 1.5 lac. Now, they both can promote each other one who can so expensive car surely can buy this bag.