5 Marketing Strategies That Every Modern Business Owner Should Know

5 Marketing Strategies That Every Modern Business Owner Should Know

Whether you’ve been in business for a while or you’re just starting out, you need to know what’s “in” in the world of business marketing. Outdated tactics won’t get you far in the ultra-competitive business world of the 21st century. It’s time to dust off your current knowledge of what it takes to advertise for your business and make an upgrade.

In this article, we’ll explain five time-tested and consumer-approved methods of advertising in the business world we know today.

Word of Mouth

Many marketing experts will agree that there is no more effective marketing than word of mouth. This has been the golden standard of achievement for a long time, and for very good reason: You want the world to be talking about you! When you provide great customer service and a product that your market loves, rave reviews will draw more business. For being the most effective form of marketing, it is the one type of marketing that business owners don’t have to actively participate in. They just do their job and let the community speak for itself!

Paid Advertising

This type of advertising is hugely varied, thus providing a multitude of options for businesses. The fliers that you get crammed into your mail box each week? The billboards you pass on the way to work? The advertised links that you click on when browsing Google or Facebook? Those are all different types of paid advertising. You can see for yourself, from the consumer’s side of things, how effective paid advertising can be.

Cause-Related Marketing

In this day and age, consumers want to know that at least a portion of their purchases will be going toward a good cause. It’s not uncommon for businesses to offer a product that facilitates donations to any specific social issue, cause or organization. This type of marketing is incredibly effective, as it shows your community that you care about something and want your business to be a part of a greater cause.

Social Media Marketing

The world practically lives on Instagram, Facebook and Twitter. There’s a good chance that you’re a member of the social-media-loving population, yourself! Social media grants businesses a wide platform to reach potentially millions of users. You don’t have to utilize paid advertising strategies on social media to engage with your community! Just create a page and use it to keep your customer base aware of what your business is up to.

Transactional Marketing

How much more likely are you to check out a new company if they offer you something for free? What about a hefty discount? When businesses engage with their customer base in this fashion, it offers an incentive to try a brand that they might have looked past otherwise.