Since it first emerged as a distinct business and management phenomenon, marketing has evolved significantly with new types of marketing to address changing trends in the market. This is probably because most successful businesses use a combination of different types of marketing whether they’re contemporary or traditional marketing strategies to get great results. Business owners now see more reasons to get the best out of the functions of marketing by enhancing their target marketing plan example to deliver more developmental benefits. The diversity and improvement in marketing nowadays could sometimes prompt one to wonder what is marketing meant to look like. Our contemporary marketing world now features advanced marketing skills and improved marketing mix.
Some types of marketing are:
and hundreds others!
DEFINITION OF CONTEMPORARY MARKETING
Simply defined, contemporary marketing refers to marketing strategies that are consumer-focused. Contemporary marketing strategy offer products and services based on what the target market desires rather than what the company wants them to have, thereby, offering greater support for their customers and becoming able to take advantage of more advanced marketing funnels to track progress.
DIFFERENCE BETWEEN CONTEMPORARY MARKETING ORIENTATION AND TRADITIONAL MARKETING ORIENTATION
The main difference between the contemporary marketing orientation and traditional marketing orientation is that while the former is consumer-focused, the latter is company-focused.
Traditional marketing is concerned with pulling customers and does not really consider the customer's diverse needs. Rather it is concerned with the market or industry in which the company operates in.
Contemporary marketing aims for customers satisfaction in order to build a relationship with them. Therefore, the types of marketing strategies under contemporary marketing are concerned with the needs of customers.
TYPES OF INTERNET MARKETING AND THEIR APPLICATIONS
Based on a 2017 report by Kleiner Perkins Caulfield and Byers, an internet trend investment firm, 3.4 billion people use the internet. Therefore, the internet has become an easy and quick way to research, reach and engage customers.
Some types of internet marketing are:
Search engine optimization is majorly concerned with increasing a business’ visibility and rankings on search engine result pages. It is a simple way of attracting organic traffic of potential customers to a website. SEO can be maximized with paid adverts (Google AdWords), strategic content marketing and social media networks.
Pay per Click advertising: This is advertising presented on search engine result pages or web pages where the advertiser is only charged based on the number of times someone clicks on the ads to go to the advertiser's targeted website.
Email marketing is a type of marketing based on the distribution of messages through emails. Email marketing provides direct contact with customers and allows businesses to create relationships with their customers. Updates, exciting news, and call to actions can be sent directly to customers.
Referral marketing: is a type of marketing where an individual or customer pleased with the results gotten from a product refers the product to another person. It's a very subtle form of marketing that can provide great results especially when the person referring is an Influencer in that industry.
Affiliate marketing: is a prominent type of internet marketing where a third party promotes a product and earns commission or a piece of the profit gotten from every sale made through that referral.
Video marketing: Videos act as one of the most interactive types of online marketing and can prove to be a great way to raise awareness about a business or product. In fact, according to Mushroom networks, YouTube is the second biggest search engine. Therefore, video marketing can prove to be a great way to pass messages to target customers.
Inbound marketing is a very powerful contemporary marketing strategy that focuses on different tactics to draw consumers in and convince them to buy goods. It is one the result-oriented types of marketing that uses content to drive results. A key subset of Inbound marketing is Content marketing which the Content Marketing Institute refers to as "a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience."
Before you go, get your FREE Buyer Persona Guide + Templates
Out of everything I wrote about in this blog post...
If I could emphasize ONE thing that will give you the best results for time and energy invested...
It HAS to be understanding your target audience / ideal buyers.
And I mean a deep understanding. Not in the superficial age/gender/relationship status/job role way, but in the "my buyer is a real, living, breathing, 3 dimensional human being" kind of way.
Because when youunderstand who you're marketing to,you're able to make better decisions, spend your budget more efficiently and, most importantly,sell more of your products/services.
That's why I created a FREE GUIDE on how to create buyer personas for your business AND given you some handy templates to do it.
Click on the button below to download your free copy.