As a company, you can adopt numerous marketing strategies. You may have adopted a few previously, and find that they had limitations in terms of success and growth. Or perhaps you are looking for new ways to grow your business and products, and need to establish effective affiliate marketing strategies.
In this guide, we review the aspects of Affiliate Marketing Strategy That A Company Adopts, proven affiliate marketing concepts, what are the advantages of an affiliate marketing strategy, and what marketing strategy is ideal for adoption.
Affiliate Marketing Strategy That A Company Adopts
If you have just started a company, you must have heard about affiliate marketing. What exactly is affiliate marketing? How can it help your business? In this article, we will see how affiliate marketing works and how to use it for the benefit of your company.
Market Reach Affiliate Marketing
The best affiliate marketing strategy is to reach as many people as possible. Why? Because it helps you make more money. Let me explain: if you have a product or service that can help hundreds of people, but only one person knows about it and buys your product, then no matter how great your product is, you won’t be able to sell very many copies at all. On the other hand, if you have the same number of customers who are willing to buy from you but are too busy talking to each other and not sharing their purchases with anyone else (which happens all too often), then even though there may be less demand for what you’re selling than before, there will also be far fewer sales because nobody knows about them!
Be the First to Market with Affiliate Marketing
One of the best ways to get your affiliate marketing strategy off on the right foot is to be the first in your niche to offer affiliates. By being first, you’ll have a competitive advantage over other companies who may decide to start an affiliate program later on.
The advantage that you’ll have over these competitors will be threefold:
- You’ll have a better understanding of your market and what people are searching for when looking for products or services in this area
- You will have a head start when it comes to marketing and branding yourself as an expert in this specific area
- It will be easier for you to attract reputable affiliates that can help spread the word about your brand
Gaining a Competitive Advantage with Affiliate Marketing
Affiliate marketing is a great way to gain a competitive advantage. To understand how affiliate marketing can help you achieve this, let’s take a look at an example of how it was used to do so.
A company named “X” decided to use an affiliate marketing strategy in order to stand out from the competition and gain better results on Google Search Engine Results Pages (SERP). The company adopted a new approach where they would get bloggers/influencers to write about X’s products or services on their blogs. In exchange for writing about them, X would pay these bloggers/influencers either in cash or with free products from X’s website. The bloggers then shared their posts on social media sites such as Facebook and Twitter using hashtags related to the topic being discussed in the post such as “#technology” or “#mobilephones”. This helped reach more people online who were interested in either technology news or mobile devices because these two topics are very popular among consumers today!
Low Costs Per Sale Affiliate Marketing
Affiliate Marketing Strategy That A Company Adopts
Affiliate marketing is a cost-effective way to reach a wide audience and offer your products or services. It’s also the most common affiliate marketing strategy used in the industry, with over 50% of affiliate marketers using it as their main strategy. You can promote your products or services to a large audience for a low cost if you use this strategy.
Affiliate Marketers Are Paid For Each Sale They Make
The more sales you make, the more money you make! In fact, there are some companies that pay their affiliates up to 75% commission on each sale they make. This means that if an affiliate sells 10 items at $100 each (a total value of $1000), then he/she will earn $750 in commissions from his/her website owner (some people call these person who own websites “publishers”). If an affiliate refers 5 customers every month over an entire year and makes 20% off each transaction ($500 per month) then he/she will have earned around $11000 on commissions alone by referring only 20 new customers!
Branding Through Affiliate Marketing
Branded affiliate programs are a great way to increase brand awareness and build loyalty.
A branded program will give you the ability to:
- Drive more traffic through your website.
- Keep in touch with customers even after they have purchased.
- Create high quality content that can easily be shared across social media, email marketing, and other online channels (such as YouTube).
Search Engine Optimization
Search Engine Optimization (SEO) is the process of optimizing a website to rank higher in search engine results pages (SERPs). It is also referred to as “search engine marketing,” “internet advertising,” or “online marketing.” The goal of SEO is to raise your website’s visibility and authority in the organic (natural) results on search engines.
The first step toward ranking well with the major search engines like Google and Bing is to create a strong foundation for your site. This includes:
- Creating a useful, easy-to-navigate site that offers valuable information
- Making sure all of your content has been properly optimized for search engines through titles, tags and descriptions
- Creating relevant links from high-quality sites that are relevant to yours
It is always better if you use an affiliate marketing strategy to promote your business before it’s too late!
Affiliate marketing is a great way to promote your business, build brand awareness and generate leads. The other benefits include the fact that it improves customer service, increases sales and helps you gain valuable data about your customers.
proven affiliate marketing concepts
To summarize, affiliate marketing is a type of advertising that involves an affiliate, like an influencer, promoting a company’s product or service for a commission on every sale.
The goal of influencer marketing is to drive sales by using a source that users trust, to promote a product or service.
Best Affiliate Marketing Strategies to Grow Your Brand
Many successful brands work with a lot of affiliates to increase their sales and grow their brand. But not all of them use the same techniques to increase the visibility and demand for their products.
In fact, there are several different affiliate marketing strategies and channels you can leverage.
1. Choose the Right Affiliates
Affiliate marketing allows you to leverage the power of influence to get people to buy from you.
If you want to influence consumers’ buying decisions, you should choose to work with someone who has an engaged audience that trusts them.
The best way to start finding good-fit affiliates is by using Affiliate Recruitment Software. These tools can help you build processes for discovering and recruiting high-performing affiliates at scale.
When choosing an affiliate to help you with your product promotions, check whether or not:
All of this is important to ensure that your efforts aren’t in vain.
An excellent example of a new product using affiliate marketing to their advantage is GFUEL.
GFUEL is an energy drink mix aimed at the gaming community. It was established in 2012.
As affiliate marketing, especially with influencers, became the norm, they reached out to one of the largest gaming influencers on YouTube, Pewdiepie.
Pewdiepie currently has over 100 million subscribers and does plenty of marketing for GFUEL with promo codes, discounts, and affiliate linking.
2. Attract Sales with Coupons, Deals, and Promotions
Everybody loves a great deal.
Leveraging coupons and deals is one of the best affiliate marketing strategies to boost sales. That’s because many consumers love the savings power of coupons. They often search for discount vouchers on various coupon and deals sites before shopping for any product.
Check out these statistics to understand consumers’ love for coupons and deals.
Many coupon and deal websites allow you to attract more customers by offering a significant discounts. Groupon and Offers.com are a few such sites that you can use to drive huge traffic to your business and increase conversions.
Coupons work best in markets that are highly competitive such as food, beauty, travel, or gadgets. However, you need to manage them well as an extravagant discount offer might simply eat into your margins.
To make the most out of your coupon affiliate marketing strategies, choose to work with a few, high-quality sites. See where their visitors come from. Do they highly rely on search traffic or do they have a user base of their own?
You should also check the authenticity of their site. Try using their coupon codes for a few popular brands. If they don’t work, it’s a red flag.
3. Leverage the Power of Niche Influencers
Influencer marketing has become much more than a buzzword in recent years. And brands are continuously learning to tap into this source of referrals effectively.
Many brands choose to work with a large number of social influencers and bloggers in their niches. Influencers have more authentic relationships with their followers. They can effectively get their audience to trust your brand and convince them to use your products or services.
Influencers may not send you huge amounts of traffic compared to coupon sites. But the audience they send is targeted and more likely to be interested in your product.
Thus, you can boost your conversion rates with effective affiliate partnerships with influencers.
While most influencers expect monetary compensation, many agree to work for free products or a portion of each sale they drive as well.
How Can You Track Sales?
To track the number of sales that an influencer is driving for your website, you can use tools like Voluum. It helps you monitor a wide variety of parameters like referrer links, browser versions, devices, creatives, and more.
Nordstrom Rack, a US fashion retailer, gifted their products to several influencers. The influencers then featured those products in their blog posts and social media posts effectively. This series of posts helped them reach 500,000 potential customers and cost-effectively increase sales.
However, to get the best results, you need to associate with influencers who are relevant to your brand. This demands that you look at much more than their following size.
You need to analyze various metrics to see if an influencer is fit for your affiliate marketing strategies. A few important metrics that you should check include their:
All of these factors contribute to whether or not an influencer is a good fit for your affiliate marketing program.
How to Improve Reporting
To improve the reporting from your influencers, you can use Voluum. This tool helps them understand their performance through detailed reports, and they can share the same with you too. As a result, you’ll be able to figure out which influencers are performing better than the rest.
4. Build a Robust Affiliate Network
Instead of tapping into various affiliate networks, build your own. It can be really difficult to recruit your first few affiliates. But expanding your affiliate network is comparatively easier.
To attract affiliates, you should follow a clear, to-the-point approach. Provide your potential affiliates with all of the necessary information such as what to do, how it works, and the commission you’ll pay.
You should also encourage your affiliates to recruit more sub-affiliates. You can offer them a small commission of the sales that their sub-affiliates drive. That can be quite encouraging.
You should always take some time to appreciate and reward your most loyal affiliates. Track their performance, and analyze the lifetime value of the customers they bring to your brand.
How to Track Performance
To track their performance, you can use tools like Voluum. The platform allows you to see your reports in real-time with details of 30 data points to help you understand the performance of your campaign.
You can reward them with a slightly higher commission rate in the future. You can also offer them benefits such as buying any product at the best price or one free delivery every month.
These affiliate marketing strategies can help you build a strong network and encourage affiliates to give their best shots.
Amazon Associates is one of the largest and most successful online affiliate programs in the world. They have a network of over 900,000 affiliates who proudly promote various products listed on the e-commerce site.
5. Leverage Affiliate Promotions From Multiple Sources
Instead of focusing on just Instagram influencers or coupon sites, spend the time to reach out to your audience through affiliates from multiple sources.
You can test a variety of affiliate marketing strategies to see which audience responds the best and is the easiest to reach.
Some promising sources to leverage affiliate promotions include:
Using multiple platforms can help you drive the best results from your affiliate marketing strategies. This can also help you analyze the platform which your audience is most engaged.
Which Channel is Best?
To track the effectiveness of each channel to drive traffic and sales, you can use Voluum. It can help you track your traffic from multiple sources, and you can also find out your ROI using it.
6. Optimize Your Product Pages for Conversions
Many brands invest in affiliate marketing strategies and expect their affiliates to drive conversions on their own. You can’t rely completely on your affiliates and sit back to watch sales come in.
Affiliate marketing can help you to drive interested consumers to your product pages. But it’s your job to make sure that they buy your product once they reach there.
If you want to generate more sales, you should deliver a good customer experience to them. For this, you need to optimize your product pages to boost conversions. It’s simple, just make sure that:
For this, you can use leverage tools such as Voluum. It has a traffic distribution AI that can help you direct traffic to high-impact pages.
You can also set up customized rules for directing traffic to various pages of your website. It’s also possible to conduct A/B tests to figure out which campaign paths are performing better.
Optimized product pages can give a boost to your affiliate marketing strategies and effort. They can help you retain more customers.
In fact, you can also use your product pages to upsell and cross-sell relevant products.
7. Keep an Eye on Trending Influencers
It’s not easy to know who will be trending next, but if you work with an influencer that starts trending, you’ll see a significant increase in leads and sales.
The best way to find trending influencers is by following trends. Go on social media apps like Instagram, TikTok, and Twitter and look at what’s trending and which influencers are actively posting with hashtags related to the trend.
Another great way to work with influencers that are trending is by using an influencer marketing platform to connect with them.
8. Run Ads Around Peak Shopping Times
Holiday times see a large increase in spending, especially if those products are related to the holiday.
Retail sales figures show that certain markets like jewelry, electronics, and toys/hobbies have a larger last-quarter percentage than the rest of the year.
This is due to large holidays falling during those months like Halloween, Thanksgiving, Christmas, and New Years.
That makes it the best time to get your product out to affiliate marketers to start advertising.
what are the advantages of an affiliate marketing strategy
Affiliate marketing is a process in which an affiliate will promote a business’s products and services and receives a commission if the affiliate achieves a sale.
An affiliate is a person that utilizes its networks and online marketing capabilities to promote products and services.
Affiliate marketing and the use of affiliate marketers is a sales and performance-based advertising method that offers many benefits to both the business and the marketer.
When a product is excellent, and the marketers’ online marketing skills match, both will achieve higher sales and brand awareness.
Affiliate marketing is a beneficial method for any business that wants to grow. It’s sales without spending on a traditional advertising budget.
Growing your affiliate marketing strategy is a long process that involves individuals and giving them the right tools and incentives to promote your brand and products.
Most commonly, companies and marketers use affiliate marketing in the online marketing world. It can also include the contribution of offline and physical sales if that’s what the company desires.
Business spending on affiliate marketing is growing fast, and spending is estimated to grow up to $8.2 Billion in 2022, a growth of ~52% from 2017.
If your business isn’t on par with the growth of affiliate marketing, your might be losing on valuable online real estate that is only achievable through the use of affiliate marketers.
In this article, we will cover the benefits of affiliate marketing benefits for businesses and also how affiliate partnerships help every party involved in the process.
The combined benefits to both parties make affiliate marketing an essential part of any digital marketing strategy.
But first, let’s look at how affiliate marketing works.
How Does Affiliate Marketing Work In A Nutshell?
At its core affiliate marketing is simple, and here it is in six simple steps:
Affiliate marketing, therefore, consists of three (four if you’re utilizing a network) stakeholders: The marketer (also called a publisher), the product provider (or the one who distributes the products and the services), and the customer.
The relationship between the marketer and product producer depends on the nature of the deals in place between them. A customer will purchase from a business, and the customer’s first interaction will be with the marketer.
A business can streamline its affiliate process and won’t need to manage the process themselves, using an affiliate network, although increased costs are something to consider.
A perfect affiliate marketing campaign is beneficial for every stakeholder. The business and the marketer gains revenue, and customers get more personal recommendations from a trusted source.
Affiliate Marketing Benefits For Businesses
A New Profitable Sales Channel
For a business, affiliate marketing offers a much-needed scale without accessing large advertising budgets. Even one successful affiliate can bring much more traffic, leads, and sales than a traditional marketing campaign or even a highly effective online advertising campaign.
When comparing the benefits of advertising with publishers, or allowing the publisher to become an affiliate, becoming an affiliate will create better and long-lasting relationships that benefit both parties.
When done correctly, affiliate marketing might become your most important and influential sales channel that can grow sales and brand awareness over time.
Unlike a sales team, affiliate marketing works for you 24/7, making money for both parties at all times. A passive sales funnel for a business is crucial if the company wants to expand and scale faster.
If an affiliate campaign has been built the proper way with great products and services with enticing opportunities for marketers, a business can enjoy the benefits of passive income and promotion.
By its core as affiliate marketing is result-based, and the cost for upkeep will be lower than managing your sales teams. In most cases, not having a sales team wouldn’t be entirely realistic, but it enables the specialization of your sales teams.
For example, affiliates would bring cold traffic or leads that your sales team can nurture further into customers. In a model like this, the compensation model might need readjustment. If your sales team is the one making the sales, then affiliates will require some other form of result-based compensation, like commission per lead.
The convenience factor for a business is the fact that you can diversify your revenue and promotional sources.
Benefits A Variety Of Products
Products that are perfect for affiliate marketing has a couple of the following characteristics:
Amazon has shown that low margin products are still a viable option for affiliate marketing, but small percentages for affiliates might affect more extensive opportunities. But as customers would trust the supplying company and the affiliate, it’s a combination hard to miss.
Eventually, low commissions will drive the best affiliates into other venues, which means when optimizing commissions, you need to think ahead, what else is in the marketplace in your industry, how much they pay in commissions, and on which terms.
A product that has a considerable commission potential will drive more affiliates to you. Still, if the product also matches the other criteria of the perfect product, you’re more likely to drive more affiliates into your products and services and to your program.
If your company produces a range of products and services, it might be worthwhile to pick the best suitable one for affiliate marketing rather than a general link for everything. The benefit of the methods is that it’s easier to build more effective campaigns when you have a clear product for promotion.
General links can work (Like Amazon), though, but might require additional effort to create better marketing resources or affiliates need to create a more specific story around a company.
In general, a large variety of products is viable for affiliate marketing, which means most businesses can utilize it to grow their brand awareness and sales.
Sometimes it’s better to find your influencers first and work together with an affiliate deal with a product that matches the most to their audiences.
Access To Influencers And Their Networks
Affiliate marketing allows a business to target particular niches that match with a business’s core audience.
Every industry and customer segment has its influencers that can connect with your target audiences in a way that most commonly is almost impossible for a company selling products.
While not impossible to gain a natural following as a product company, not reaching out and utilizing influencers, you might be losing out on valuable customer data that is essential for scaling your business effectively.
In most cases, the audiences of influencers might bring new data that can widen your audience related opportunities.
For example, if we look at an online clothing company, through testing and targeting online advertising found a perfect audience for their products. Then the company would reach out to an influencer whose audience matches the description, only to find out that the influencer’s audience is broader than initially thought. And if the audience performs better than the average, the data leads to better decisions about data-driven audiences.
Another benefit is the discovery of entirely new audiences. In some industries, their target audiences might be harder to reach through traditional methods. In this case, offering an influencer an affiliate deal could potentially help you achieve this new audience.
Utilizing a vast network of influencers within your industry offers many more benefits than just the promotion of products and services. Learn more about the benefits of influencer marketing here.
How An Affiliate Can Grow Your Business
A great online marketer will have access to many sources of traffic within their networks, which they can utilize to boost your companies sales effectively.
Conversion rates are higher when promoting products through a network where trust has built up for a long time. Building new funnels and trust with new customers only through online advertising can take a lot more brand awareness to convert finally. Word of mouth is a powerful tool to utilize.
An affiliate can promote your products and services through their networks, increasing conversion rates as their network will trust the marketer more than indirect online advertising models.
Example of ways how an affiliate can grow your online business:
For example, let’s look at a marketer who has a substantial following on a niche blog, and you have given the right incentives, and your products are perfect for the said niche.
Now the marketer can utilize their following and the trust they’ve built to promote your products to their niche audience carefully. The niche audience will react better to this approach, and converting them will be easier for you.
By letting an affiliate promote your company, you’ve broadened your audience, and the best part is you also gained reputation and trust within the new audience.
Inbound links in SEO are crucial to gain more visibility on any search engines. Gaining affiliate links from a highly specialized and trusted source can increase your search engine visibility, which is an added benefit.
As conversions grow, your relations with the marketer grow as both will benefit, and you can expand the business together.
Because of the nature of affiliate marketing being performance-based, the way it can produce results compared to other online advertising channels can be drastically different.
For one, the use of affiliates to promote a business instead of buying ads creates a model that increases visibility and sales without spending any further on an advertising budget.
Online advertising does have a benefit over affiliate marketing, and that is speed and more control. Affiliate marketing can take time, and you might not achieve the wanted results.
With regular online advertising, say LinkedIn ads, you can have complete control of the flow of traffic and the amount of brand awareness you want. While it might cost more than affiliate marketing, the ability to increase awareness whenever needed is powerful.
While a great affiliate can make a massive difference in revenues, not having great affiliates signed up, might not bring enough results. The key is to know when to invest more into your affiliate program and when to increase advertising budgets.
Of course, these two should go hand in hand. For example, even if a great affiliate is perfect for bringing up your sales and traffic, if you use powerful retargeting advertising campaigns, you will increase those results by a large margin.
You also need to increase the attribution for the traffic you gain from the affiliates. Every affiliate deal will end eventually. Raising brand awareness to said traffic is essential to keep customers coming back.
An affiliate program shouldn’t be your only source of traffic. It’s never a good idea to rely only on one or a few sources, mainly, because in the end, you won’t have total control of your affiliates and their willingness to work with your business forever.
Affiliate Marketing Increases Your Competitiveness
As affiliate marketing has grown to be a staple in marketing in recent years, many companies still neglect it, which leads to many opportunities for businesses.
The competition for the best affiliates is getting tighter, mostly bigger and more established brands can utilize the best marketers and publishers to their advantage. A smaller or a new brand has to look outside of the box to entice marketers to their side.
On the brighter side, affiliate marketing still has a lot to grow, and you can quickly increase your competitiveness through affiliates.
How established affiliate marketing nowadays depends widely on the industries themselves. Many sectors still do not use affiliate marketing to their benefit in any meaningful way. Yet, in others such as software as a service business, it is a more prevalent marketing strategy.
An essential note is that you must understand how your industry works and who are the most important influencers and how to make deals with them.
It takes time to build great relationships and word-of-mouth about your brand to marketers to find your affiliate program. But building a solid base to start from, you can begin extracting the benefits of affiliate marketing into your marketing strategy.
When affiliates promote your business, whether they convert or not, the positive effects on your brand awareness are vast. The more a potential customer can see and engage with a company, the more likely it increases sales due to enhanced attribution.
Learning From Your Affiliates
Affiliate marketers provide new marketing strategies that, if they work, you can implement them as well. Affiliate marketer’s skillsets range between professional marketers or even large companies that have massive audiences that you can leverage for affiliate marketing.
You can always and should try to learn from your affiliates’ audience data. A converting audience is still highly profitable and can improve your other marketing channels results significantly. For example, an improved target audience can vastly enhance your other online advertising campaigns.
Learning from your affiliate’s style of communicating with their audience, you can learn how to improve your messaging to target your core audiences better.
In a relationship, you should learn from the best of your affiliates and bring that knowledge into your company’s workflows. It can also expand your affiliate marketing campaigns by introducing newly acquired methods to improve every affiliate earning potential, thus increasing your promotional power.
The more you help your affiliates succeed, the more you can enjoy the results they bring.
The power of utilizing gained data and provided methods from affiliates to your company is that you can use these methods and data to improve your products and services and especially improve your other customer acquisition channels.
Importantly is to understand that affiliate marketing is all about building and maintaining relationships. An affiliate marketer is a business venture in itself, and by respecting its audiences with relevant and excellent products, you maximize results for both parties.
Easy To Start & Manage
For both parties, affiliate marketing is easy to start and manage. You can begin using an affiliate network in the beginning as a company wanting to launch an affiliate program.
The benefits of an affiliate network are plenty:
Some available affiliate networks to choose from:
For most businesses and affiliates themselves, joining a network will be a practical choice to make.
Research the different networks listed and find one that best aligns with your business goals of either sales, brand awareness, leads, and more.
If joining a network is not suitable for your business, you can always consider managing it on your own with many available tools.
Managing Your Affiliate Program
The other route of building an affiliate program from the ground up might not be worth it for many businesses. However, it offers a great deal of control over how you manage your affiliate relationships.
Building a proper channel might be worth it when you want to achieve more with affiliate marketing.
For example, if we look at Shopify, who built a robust independent affiliate program around their online store platform, they can achieve much more from their affiliates by offering them more resources and more guidance.
The Shopify route is not viable for many businesses, but it’s worth considering if your business is at a scale and the industry is right, where more control can give you more results.
what marketing strategy is ideal for adoption
The Covid-19 outbreak has disrupted people’s lives as well as businesses. In this article, we want to give you, as a marketer, examples of the most successful marketing strategies that you can immediately implement in your company.
This crisis has changed the business landscape, and the unprecedented consequences are felt around the world. No business or market has been left untouched. Fortunately, all is not lost. With disruption comes growth opportunities and mechanisms to overcome challenges. Crisis times force businesses to become sharper, more creative, and more efficient than before.
With the right mindset, you can use the crisis to your benefit and find future strategic ideas to make your company thrive. The secret lies in understanding your market and customers to identify new opportunities to take your business to higher levels of success.
Continue reading to discover the holy grail of your next growth hack, and ensure the success and survival of your business during and after the Covid-19 pandemic. This article outlines five creative ideas that you can customize to fit your industry and customers to achieve better corporate results during and after the crisis.
1. Recreate your Marketing and Sales Funnel
Things are hard right now and will be for a while. Most industries are registering low conversion rates. In the travel industries, for example, things are terrible, with Delta Airlines losing $60 million daily.
Nevertheless, although consumers are not buying right now, they will do so in the future. Therefore, it is best practice to change your marketing and sales funnel to accommodate this new reality.
Offer your audience something free during these hard economic times: free trials, free courses, or free sessions. Provide them with more content and even give them premium content for free.
By offering consistent and high-quality content to your customers, you build trust, connect with your audience, and increase brand awareness. You also encourage conversions because consumers have the information they require to make informed purchasing decisions.
Digital marketing gurus, HubSpot, and Neil Patel are leading the way with freebies and discounts. Neil Patel is offering Ubersuggest premium features for free while HubSpot is giving out up to 50% discount on their platform.
2. Respond to the Crisis
A recent study by the American Association of Advertising Agencies reveals that 56% of consumers are happy that brands are helping in the Covid-19 pandemic. While some brands are supporting affected communities, others are offering the much-needed help in healthcare institutions. They are giving levity, relief, and resources that those who need them most.
A good number of companies are responding to the Covid-19 crisis with special offers, new services, special resource pages, and other helpful approaches. Here are some examples.
3. Invest in Content Marketing
Currently, social distancing is the new norm. Even after the crisis is contained, distancing between people will stay with us. To tackle the distancing, many people turn to the internet to learn. Also, people still want to research products and services online before they contact a company.
Another great marketing strategy example to survive this crisis is to invest more in educating customers. It will offer a great opportunity for businesses to connect with customers and build healthy relations. Below are a few ways of educating your customers;
4. Virtual Events
We are uncertain when real events will be back in our lives. However, thanks to technology, you can host a virtual event. Virtual events occur on the internet and are not restricted to a single locality. With internet connectivity, you can participate in a virtual event from anywhere around the globe.
Virtual events are invaluable for companies during this crisis for several reasons. First, you reach a wider audience because people can join in from anywhere in the world. Second, virtual events are cheaper to hold –you don’t have to incur the costs of booking a venue and hiring an event planner. Third, these events are measurable –you can determine how many people attended, their residence, which sessions were popular, and how the attendees paid for their tickets.
Wista CounchCon is an excellent example of a video marketing platform for enterprises. In 2018, it held its first virtual event called CouchCon. The virtual event featured 13 influencers who taught attendees about using video for marketing. Content Marketing Conference allows you to watch CMC 2020 on-demand for free in May during the pandemic. AltGDC is a primarily-virtual conference on game design and development.
5. Watch Your Industry Pains
The Covid-19 crisis has affected many industries. These industries need to reinvent themselves for the future. The tourism industry, for example, can look into options like virtual tours or 3D visuals of tourist places.
Businesses that fail to reinvent themselves will be removed from the market. To emerge winners in this crisis, enterprises must combine resilience and agility. They must determine where they should be strong, and where to be flexible.
So, a good marketing strategy example is to examine your industry to identify the new pains your customers may be experiencing. It will offer lucrative opportunities for your business to leverage. Here is an outlook of how companies are capitalizing on new customer pains in the wake of the crisis.