How a new brand can capture the market in 2020-21?

marketing strategy

Types of Marketing Strategy 2020-21:

Customers play an important role in marketing because they are the ones who help companies to achieve their goals therefore, core focus must be our clients/customers. Value your customers by understanding them from all aspects. To be precise give them what they want! This strategy is the best marketing strategy to build a relationship with your customer and make them your loyal and repeat customers. Marketing is not an easy job as there are various steps that have to be followed to get raving fans that become your buyers in the longer run. The first and foremost thing to understand is your customer value journey that will get you, numerous customers, in less time.

Customer value Process of Marketing Strategy 2020

Quick Guide of Marketing Strategy Infographic:

Marketing Strategy

Marketing Strategy

Brand Awareness 2020-21

Suppose you want to purchase a cell phone which brand will you choose? Existing brands or a new brand that recently launched in the market. Mostly, people will buy the one that they have already heard about. This shows that customers must realize that you exist in the market.  The term brand awareness tells that you must make people aware of you and your services because bombarding them with your existence repeatedly will make them your customer at some time. Marketing Strategy 2020-21 through social media sites is the best option to reach to potential and existing clients because in this advance era people rely on the power of social media as it is quick, easy and user-friendly.

Engagement:

Your client/consumer is well aware of you and your products now. The next step to follow is to engage them because still, you are a few steps behind to knot ties of trust and strong bond with them. How can you engage your customers?

Engage your customers by sharing relevant information, interesting and related stuff with them to stay in touch with you constantly. It’s not a onetime thing that you discontinue after a while and instead, it is a vital portion of achieving potential customers.

Subscribe:

Subscription is a way to gather information of clients which is then used to re-contact them later to make them your permanent viewer and buyer. If we fail to get their contact information than there are high chances that customers/ Client will not return back to your page or website.

Convert:

In this stage, you succeeded to create a relationship with your customer but asking for too much is still risky because your relationship with them is fragile so play smart at the moment.  Move slow and steady to get a permanent endorsement of trust. You might lose money at this stage thus profit must not be the first priority. This truth is hard to consume for business but it a scary reality to keep your customers attached. The goal of this stage is to acquire customers, not profit.

Excite:

At this stage of marketing strategy, your valued customer has had a transaction with you and your goal at this time is to make them your ongoing buyer who trusts you a lot. Your service and product must add value to customer experience because no value means no gain. Therefore, you must make sure the customer had a remarkable experience on his transaction because only then he will return back to hit another transaction.

In a marketing strategy, At this stage, you must give your customers an opportunity to get on board with you to add value to their purchase experience or business.

Ascend:

Good news!

You can now generate more leads at this stage of a customer value cycle. It’s possible that you might be losing profit to acquire a new customer.

Point to ponder here is that it is costly to acquire a new customer than selling an existing one. In this stage, you are beholding your customers for future profits. Your buyer will return back repeatedly by giving various offers to customers. It a ladder stage that leads to multiple purchases.

Advocate:

You have a satisfied customer until now. This is the time when your current customers can advocate your brand by passive promotion i.e. if someone asks about you they will speak in favor of you. This is how more sales will be generated by giving robust growth to your company.

Promote:

Promoters differ from advocates as they actively promote your product and service to new people by sharing their experience from your brand. They promote your company to new fans, followers, friends and family members. As the source of news is a trusted one this would be a blessing because these listeners will most likely be your next buyer.  If a company adds incentive in promotion than results will be more extraordinary. An incentive could be in the form of discounts or free sample gifts. And you know how your marketing strategy 2020-21 works and what are flaws in it?