Drive urgency, foster loyalty, and create lasting narratives that propel brand growth with effective marketing strategies. These are rooted in more than innovation; they boast a deep understanding of the brand’s guiding vision and the target audience.
Take the example of Heineken. Their key demographic group is millennials, a group also particularly averse to advertising. As a result, their marketing strategies are focused around sponsoring events such as Coachella and UEFA Champions League.
This helps them further the narrative of a brand that resonates with the millennial crowd while enabling top of the mind recall.
Wondering how you can strategize your marketing to power impact? Here’s where you can get started:
Step 1: Understand Your People
Who do you market to? What are their preferences and hobbies? How is your competition connecting with them?
The very first step for a powerful marketing strategy is to understand what catches your audience’s eye. Which platforms do they use most frequently? How did they hear about you? What guides their buying behaviors?
Understanding this can focus your efforts into areas that yield maximum results. It’s the reason why Lamborghini doesn’t make television ads – because they know that their audience isn’t predominantly there. Instead, they advertise in elite magazines, car shows, and even via influencers. The outcome: the promise of a luxury supercar that is reserved for the few.
Keeping this in mind, a television advertisement could dilute their messaging as this is the space where more affordable cars are already marketed.
To devise an accurate buyer persona that guides impactful marketing, you need to talk to your audience. Run surveys after critical interactions that ask them how they came across your brand, which platforms they prefer using, where would they like to be alerted about future offers, and more.
But that’s not all. Getting to know your customers on a personal level can also reveal unexpected insights. What are their hobbies and preferences? What new features would they be interested in? Just as Heineken found sports and music festivals, you might discover an interesting thread that connects your diverse audiences, paving the way for alternate marketing avenues.
Step 2: Innovate, Don’t Follow
A marketing strategy is just as much about your audience as it is about you. Its core aim is to promote your brand narrative in a way that resonates with your customers.
Take the example of Nike. While their tagline is one of the most famous marketing examples, it’s so much more than that. It fuels everything that Nike is – a tool to propel your athletic drive, helping you achieve your dreams. While “Just Do It” is the tagline, it is furthered by their overall marketing strategy that focuses on ambition and achievement.
Similarly, Coca-Cola is a company that focuses not on selling their soft drink but on spreading happiness. Their Happiness Truck campaign is just one of the many examples of how their overall marketing strategy is designed.
This did wonders for their publicity in certain countries where a red Coca-Cola truck would roam around and give away free company products to anyone who pressed the button. The outcome? The company won awards, and more importantly, the loyalty of customers!
Both these marketing strategies are connected by their focus on staying true to the company’s DNA while catering to their customers. It plays into the overall marketing narrative that the brands have crafted, enhanced by their determination to be different.
Step 3: Re-evaluate it All
Your marketing strategy is working, but could it be better?
Evolution is the key to survival and the secret to thriving in an ever-changing world. Even if your marketing strategy has served you well, take a hard look at it. Could it be refined or updated? Would another approach work more effectively for the newer audience, or perhaps different avenues would be better suited to reach more people?
Talk to your audience with the help of regular polls and surveys, keep an eye on your competition, and analyze your strategy with a critical eye to see what can be revolutionized.
Social media presence, trends, and challenges are a great opportunity for businesses catering to the younger generation, whereas striking newspaper campaigns and even billboard signs appeal to the more established audiences.
The world is in a state of constant transformation, and to ensure your brand sees catalytic growth, you need to devise a marketing strategy that is focused on changing along with it.
The best marketing strategies are developed by businesses who promote innovation yet are firmly entrenched in their roots — and maybe even their data.
So, develop that core narrative, get to know your audience, and don’t be afraid to break the box. Just be cautious of the happenings across the world to avoid the risk of appearing tone deaf (remember Pepsi’s infamous ad with Kendall Jenner?).
Keeping these three basic steps in mind, you’re all set to begin your journey.