New Forms of Marketing

People’s society is constantly evolving, causing appearance of new needs, and businesses react to this trying to invent new ways and approaches to satisfy their needs and at the same time to influence people in attempt to market their goods and services. Marketing evolves with people, more and more new unconventional forms of marketing occur which are based on innovative principles and approaches. In this article we will review the most spread new forms of marketing.

The most prominent kind of this type of marketing is a concept of neuromarketing. General methods and technology were developed at Harvard University. The patented method was called ZMET (Zaltman Metaphor Elicitation Technique). Marketers use sets of pictures to study the human subconscious by selecting images that cause the positive respond during magnetic resonance scanning. Images cause positive emotions of consumers and trigger hidden images-metaphors that stimulate purchase. On their basis marketers create graphic collages, which subsequently form the basis of advertisement. ZMET marketing technology is popular among clients, it is used by many large corporations, including Sosa-Cola, Procter & Gamble, General Motors, Eastman Kodak, General Mills, and Nestle.

neuromarketing

Sensory marketing – does not study the feelings of people and their emotional state, it affects it. With the knowledge that neuromarketing provides, it influence the consumer through aromomarketing, visual merchandising, audio design.

The most spread form of sensory marketing is aromamarketing. It uses air aromatization to stimulate sales. Market research shows – pleasant scents makes consumers spend 15-20% more time in stores than usual, which positively affects the level of sales. Aromamarketing encourages impulsive purchases, allows standing out among competitors, emphasizes the style, image and status of the company.

Mobile marketing uses the same approaches as internet-marketing with the only difference – mobile phone with internet becomes a mean of advertisement. This form of marketing is relatively new, the first company in this field was found in 2001.

Advantages of mobile advertising are as follows:
– the response rate to the advertising in the mobile Internet is 5-10 times higher than in the wired one;
– the indicator of memorability of advertising information is high – it reaches 60%;
– the costs for placement such an advertisement is lower.

SMS and MMS advertisement provides a personalized delivery of information and has a minimum percentage of evasion – the subscriber reads the advertisement in most of the cases.

Viber/ Whatsapp/ Telegram/Skype.. marketing – advertisement through these messengers uses the same principles as sms/mms advertisement.

Viral marketing uses the habit of sharing information with others. How it works: users voluntarily broadcast a message containing the necessary information; they do it just because they find this information interesting. Promotion with the help of virus content can take a variety of forms – video, photos, flash games, even plain text (for example jokes). Viral marketing is a strategy in which a product, service or their advertising is so affecting a person that it “becomes infected” with the idea of distributing certain content and becomes an active repeater itself. Viral marketing involves a situation where a person does not look for a product specifically, but gets involved in some game or competition and through this gets affected by the brand.

Viral Marketing

Guerilla marketing. It is often confused with viral marketing since it uses the same principles. It includes cheap and, the most important, unusual methods of attracting customers. Basically it implies utilizing original business cards, creative booklets, stickers, postcards and, “tricks and gimmicks that allow companies to reach customers before their competitors do.”

Hidden marketing (also known as undercover marketing, buzz marketing, stealth marketing) – a type of advertisement when consumers don’t understand it is an advertisement. An example of such marketing is when an actor or other famous person tells that he has/she uses some watch brand for many years. Usually this happens in the places where the target audience is crowded, in the places where these watches are sold. The goal of any hidden marketing campaign is to create an occasion for discussion, to attract attention. Such “word of mouth” helps to address consumers. Its advantage is that unlike traditional media, people trust other people’s opinion more.

The Importance of Trade Shows as a Marketing Tool

Trade shows are an important tool that businesses are using to market their products and services. With advances in internet technology and social media marketing like webinars, video conferencing, and Google hangouts the value of trade show marketing comes up. Below are top reasons why businesses should include trade shows in their marketing strategy.

trade shows are a marketing tool

1. Trade shows develop and strengthen your brand.
Trade shows promote a company’s brand, trust, and reputation in the market. A company that affords presence at leading events and conventions is considered serious and reliable enough. By using trade shows strategically, they position your brand as established in the market.

2. Build partnerships and find more clients.
Trade shows create and strengthen partnerships and industry relations. They add significant value to your business, beyond reaching clients and prospects. They are an opportunity to renew alliances with partners and interact with buyers. Exhibitors get the chance of meeting their customers, where they can reveal new products and provide more information about existing products, this strengthens their relationship with customers. Face to face interaction with prospects influences their decision.

3. Trade shows create a long-lasting impression.
Tradeshows main purpose is showcasing products and providing an opportunity for businesses and clients to interact with each other. Well-designed exhibitions with giveaways, promotional items, and contest opportunities leave prospective clients with a lasting impression. Using a tradeshow where attendees are required to complete an action on social media or submit a business card increases engagement and helps in capturing potential contact information.

4. They have a high lead generation potential.
Major trade show marketing events and conventions have massive attendance and followings from different countries. Every attendee in an exhibition is a potential lead that should be converted into a client. Linking QR codes to lead generation pages and social media accounts and asking for attendees contact information are great ways of getting leads. After trade shows, contact them and follow up potential buyers.

trade show in an expo center

5. They result to direct sales opportunities.
Trade show marketing focuses on a specific niche, market product or service. Exhibitions at popular trade shows increase your exposure to an interested audience that can purchase your products or services. Bringing some sales products at the show gives an opportunity to generate sales; ensure you have your latest products or a wide variety of products that customers can choose from.

6. Cost-effective Networking, Promotion, and Advertising.
Trade shows come with costs for traveling, renting show space, and designing an attractive trade show booth. However, with some pre-show marketing work and events leading up to the show, these marketing events offer your business a potential that exceeds the investment costs by far. Showcasing your business at trade shows comes with larger initial expenses, but the cost of converting prospects into sales is much lower compared to other marketing alternatives. With proper planning, trade shows and exhibitions are the most cost-effective and productive source of leads and sales.

7. Trade Show Marketing levels the marketing field
Large multinational corporations and locally owned small businesses in trade shows have access to common attendees. This allows beginning and unknown businesses to generate a high number of leads and sales that is certainly impossible through other marketing channels. They are of significant value to all businesses despite their size.

By combining the personal level of interaction with prospects and exposure to large numbers of potential leads, trade shows offer a marketing experience that is almost impossible with other forms.

Social Media Marketing

According to statistics, the world spends over 110 billion minutes everyday on social networking sites. Studies report that three quarters of the global consumers visit social network and blog sites on a daily basis. These networking sites provide a virtual community where you can share your ideas with a number of people and stay updated with the latest news. With the increasing awareness of people about this kind of social media, many business enterprises are now looking at social media marketing as an effective way to promote their company.

Social media marketing

How Does Social Media Marketing Work?

Social media marketing makes use of online advertising campaigns and encourages people to spread your message among their contacts. When someone sees your advertisement on a networking site and finds it entertaining, he decides to share it with others. This process continues and enables you to reach more people than you would otherwise be able to reach. However, the original message should be catchy enough to pique the interest of the readers.

Advantages of Social Media Marketing

Business houses and advertisers can employ certain media to convince prospective customers about the company’s credibility. Below are some of the advantages of this type marketing:

1. Low cost and high yield: Social media marketing is an efficient and cost effective replacement for conventional advertising options. Networking sites, such as Facebook, Twitter, MySpace and LinkedIn, can bring large traffic volumes to your business website without costing you much.

2. Increased exposure: With internet connections being cheap, online visitors are increasing day by day. More and more people are joining social networking websites. This provides increased exposure to your merchandise.

3. Consumer interaction: Marketing through online media provides you an opportunity to interact with your customers and know about their preferences and feedback. This helps you to tailor your services according to customer preferences. This also helps build your brand name in the market.

4. Improved search engine ranking: By creating a good number of back links on your social networking profiles, you can improve your business website ranking on search engine results.

How to Benefit from Social Media Marketing

Know your audience well.This type of marketing is about relationships and interactions and influences. You have to determine how your audience participates in the social media so you can develop your marketing strategy to engage their participation and steadily build your social network. The larger your social network is and the more interactive they can be, the better it is for the business.

Establish your social marketing goals clearly. This will give you the necessary direction in using the social media sites to market your business. With established goals, you will be focused and not get distracted in your marketing campaigns. You see marketing has taken on a different twist and the control happens to be with the consumers.

Develop your marketing strategies and techniques and use appropriate tools. Social media sites have their own set of tools ready for use. The internet is also extremely generous in providing you with all the tools and resources you need to carry out your social marketing strategies. You just have to find the right techniques to make everything work for you.

Social media marketing for business has the power to drive your business to new levels of successes. If you want to get the most benefits from it, by all means, you can get some help in social media marketing consultancy. The investment is minimal, and the return higher.

Learn 5 Ways to Build Brand Awareness

In a business environment characterized by extremely stiff competition, the survival of your investment will come down to how well you brand yourself. Regardless of whether you are about to launch a new business or have been operational for a while, your targeted clients need to favor your brand, or your company will have difficulty experiencing growth and success. So how do you establish yourself within the market? Well, you can start with these tips on how to build brand awareness:

1. Start with your target audience

Creating brand awareness starts with identifying your intended audience. Before launching a product or a service in the market, conduct a thorough research to establish which segment of the market is going to be attracted to it. While the number of brands out there is incredibly high, customers will only go for products that are relevant to their needs and serve them promptly. Look for ways to better understand your clients and connect with them by providing them with what they want. The most important factors to look for include age, income, gender as well as the shopping habits of your consumers. Once you have established your target clients, develop products and a marketing strategy suited to them.

2. Use the social media

Social media is fast becoming a powerful marketing tool for businesses around the world. Take advantage of different social media platforms to develop fans who could then turn into loyal customers. Create a contest where fans have a chance to win something from your brand. Ask them to like or share information regarding a product or service from your company and award more entry points to those who do so. Within a short time, you will have increased your brand recognition among potential customers.

3. Advertise on freebies

People love free stuff, so why not advantage of this to increase your brand awareness? Think of creative ways to have your brand name on a variety of free stuff. It is not necessary that the stuff you provide is expensive; anything from branded stationery, wristbands, t-shirts and so on will suffice.

Marketing success

4. Try the remarketing approach

Remarketing is a great way to make your brand appear bigger than it is, which is beneficial especially if you are still a small company. Customers may visit your site but not make a purchase. However, soon your brand name starts to come up in ads in the other sites they visit, creating the impression that your brand is big. This increases the chances of conversion.

5. Work with an influencer

Working with a business that can compliment yours rather than competing with it is an excellent way to increase your brand awareness. This strategy is especially useful if the influencer is a big name. Using the influencer’s network to promote your brand is a great way to build productive partnerships.

All successful businesses understand the power of creating brand awareness. It is the only way to build and sustain a loyal customer base. By adopting the strategies above, you too can establish your brand in the market and start to enjoy the benefits.