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Business Strategy Ideas for New Entrants

Marketing will always be part of a healthy capitalist society. Even businesses that shouldn’t advertise themselves, such as music schools, dental clinics, and geriatric healthcare facilities, also need a way to reach their target markets. There are too many competitors out there, and all businesses need to put their best foot forward.

Our generation is currently experiencing information overload. Every single day, we are bombarded with various advertisements and marketing material filtered according to what we want and need. Even before we sleep, we see endless loops of hidden marketing schemes to lure us into spending our hard-earned money with them. Some of these products are needed, while most are not.

People are extremely used to marketing and are already apathetic toward most marketing schemes. As a new business, it is essential that your first attempt to market yourself will not get lost in the clutter. In order to relate to the market, most firms in old industries resort to subtle marketing rather than direct marketing. However, for companies that are not used to marketing, they resort to different kinds of marketing as their first entry to the fray.

Directories and Listings

Continuously effected as a marketing strategy for new players is listing their own firms in public directories. Most common of which are small companies and businesses who have no budget for marketing. It should be noted that included in this cluster that do not have actual budget for marketing are healthcare businesses. They employ this strategy even though they are mostly large firms.

online marketing

The healthcare business is an ancient business. But due to its utility to the populace, it has never needed more than word-of-mouth marketing. People will just go where you are located. The number of private hospitals have not increased since 1975. However, since more and more lifestyle clinics and caring units are popping up, most private hospitals cannot compete. Not being healthcare marketing experts in their own right, most of these establishments resort to simple direct marketing.

If one were honest, they would not care to search for a hospital if they were not feeling well or were experiencing anything strange with their body. But if these hospitals make themselves available through famous online listings such as Facebook and Google My Business, they can be easily searched by anyone should the need arise. It also helps that most listings have geotagging on so that the directory can filter out and point the searcher toward the nearest or the most available healthcare establishment.

Traditional Media in the Digital Age

Most firms have adopted traditional media in digital media. More people have preferred the Internet over traditional television. If we follow the trend from 2017, consuming content over the Internet has already overtaken the average TV viewing per day. YouTube, for example, is rich in skippable videos of marketing campaigns and various advertisements. It is tried and tested. It works exceptionally well with different markets.

For example, Apple’s YouTube advert introducing the iPhone 11 was one of the most watched advertisements in 2019. It is not surprising that more and more companies shift to online marketing rather than engaging in traditional media marketing. Aside from being extremely cheaper, engagement of the market is far and wide.

Investing in content marketing never goes wrong. Content marketing involves filtering down your marketing plan into content that is palatable for general digital use. This includes blog posts, podcasts, video and audio content, and other convenient mediums for distribution. Blast your target market with your content by hopping in social media algorithm.

Email marketing, while considered traditional, still works in modern times. Engaging experts to carefully carve out your market location-wise and blast them with email adverts, invites, and coupon deals will surely entice a portion of your target market. Through compiling email contacts from different websites, you can categorize the connections and filter the exact type of email you will send. For example, email addresses sifted from a car enthusiast website can be sent marketing messages regarding how your business restores cars.

Free Professional Consultations and Seminars

Most markets tend to respond to free engagements such as free consultations and seminars. These activities not only boost your traffic, but they are also key to organic social media campaigns. For example, if you start a free seminar or tutorial on how to play the guitar, your business will gain more engagements for those really interested in your product. These activities have a high chance to result into a lot of referrals and repeat customers.

Classic Marketing Strategies

Last but not least, new entrants can still enter into classic marketing strategies. Posters, billboards, and fliers are still viable options for those who prefer traditional marketing.

Ultimately, there are endless ways to connect with your audience. It is just a matter of pulling at the right thread.

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