The BizFilings blog covering business tips and trends.
Marketing Strategies: Green, Movement and Traditional
Published on May 12, 2011
Read 'Marketing Strategies: Green, Movement and Traditional' at 'Time to Start Up,' the small business blog by BizFilings.
Most analysts have argued that as the economy improves, businesses, particularly small ones, will renew their marketing, PR and promotional strategies. Due to the recession, many businesses cut back on their marketing initiatives in light of sales slumps and poor credit.
Now, as consumer activity begins to show signs of rebirth - with retail sales on a 10-month rise, according to the National Retail Federation - small businesses and entrepreneurs forming a corporation can be expected to reach deeper into their pockets for extra marketing change.
In that sense, now may even be a more important time to invest in marketing than before the downturn, as businesses will bank their survival on accruing substantial market share in the new, post-recession economy.
Of course, simply dumping money into your marketing department does not ensure a solid return on investment, especially with the advent of new channels like social media, mobile, quick response codes and other innovations.
For that matter, businesses need to weigh their marketing goals and customer bases against the various techniques at their disposal. For example, green marketing - a skyrocketing sector that is expected to reach value in the trillions of dollars over the next few years - may be popular or even necessary in the service, tech, manufacturing or retail industries, but it's near pointless for, say, a research agency.
Another recent marketing strategy that has gathered steam in recent years is what Forbes magazine contributor Scott Goodson calls "cultural movement marketing," which refers to the idea of promoting the social significance of a product and its relation to society while maintaing a soft focus on the product itself.
"Forget about ads. Spark a movement instead," Goodson writes. "Brands today can't ignore the fact that the marketing landscape has radically altered in favor of movement marketing."
"Why? TV, print and radio have their place, but with the advent of social media and new technologies, everyone is online," he adds. "Everyone is talking, and sharing. And so the opportunity is there for brands to be part of the conversation."
However, businesses need to remember the role of traditional media, which can be just as effective as web media if leveraged effectively. In fact, a recent Capital One survey found 62 percent of small businesses were engaged in print media in the first quarter of this year.