Thursday, June 16, 2011

Marketing Mediums To Build Your Business

As discussed in the previous post there are many ways you can promote your business through marketing. The best approach we have found is through a multiple channel approach. The use of many different communication mediums can result in a powerful net effect on your potential customers and existing clients.

Here are some of the most commonly used mediums in modern marketing:

1. Advertising

Perhaps the best known form of marketing is advertising. Using paid forms of media communications has created some of the largest and most successful corporations in America.

It has literately built some companies from nothing. Billions of dollars in sales have been generated through the proper application of advertising.

2. Direct Marketing

One of the most immediate forms of marketing is direct marketing. This is where your advertising seeks to solicit an immediate response from your prospects or current customers.

Typically in direct marketing the consumer is buying directly through the manufacturer instead of through a middleman. The advantages include immediate feedback from your marketplace about your advertising - as well as better cash flow.

3. Publicity

The "free" form of advertising. Some of the advantages of publicity are the very low cost associated with it, and the very high ROI you can get. Publicity is simply hard to control, you cant just demand to get 500,000 people to watch your ad like you can with advertising.

However, publicity is an extremely valuable marketing tool which allows you to take advantage of third-party credibility to build your brand messages. It also allows you to potentially get large amounts of exposure for relatively small amounts of money. 

4. Personal Sales Representatives

This can also be an extremely profitable field to add to your business. The use of qualified sales professionals can add large amounts of sales to a business, at a healthy profit.

There are many approaches you can take such as direct sales (where the salesperson approaches the company or customer), telemarketing (selling through the telephone, and service based sales where customer service reps are trained in sales to boost company profits. 

5. Packaging

A package doesn't just hold your goods. It also conveys information to your customers. When you are designing how you will package and present your goods - you must think about how your customer will perceive your brand as a result of your packaging.

There are many tactics which have worked well in the past to boost sales through packaging. Using unusual or attention grabbing packaging has helped many products to succeed. Also beautiful packaging has proven effective for luxury brands and even technology companies like Apple.

6. Sponsorship

Creating events and sponsoring activities are designed to engage customers in your brand and get you publicity. You can also sponsor people you want to associate your brands with, this is a very popular strategy that has worked well for companies such as Nike.

Even if you do not have a large budget you can still take advantage of sponsorship - you can support up and coming athletes, musicians, artists, or whoever you wish to associate with your brand who may be in need of a extra money and will happily endorse your products for a relatively minor amount of money.

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