Every business entity should develop its own marketing strategies which should conform to generally accepted principles. A good business plan should be in place before one should start a business to be able to create an advantage over its competitors.
Marketing strategies vary through time. Though some policies used long ago may still be applied today, there are always innovations to promote and sell your products. In the new millennium, there are new approaches that have been researched and proven to be effective in marketing your products in the biggest venues.
While millennial businessmen are starting their millennial businesses with millennial approaches, it is still advisable that these methods of advertising or promoting products and services should be taken into consideration by millennial businessmen of today.Direct Selling
Direct selling is the oldest way to sell your product. By personally selling your product, you meet your customers face to face. They may praise your product or criticize it in front of you. Either way, you have the first-hand information on where you can improve your product. The disadvantage may be is that you may not be able to cover more miles as you wish you would.Through Print Media
Posters are still widely used today, but it may take the largest companies to have all its advertisement posted in many places. Print media may have broader coverage but may only be limited to one country and may have a select audience. Print ads may cost you a lot of money.Through Broadcast Media
The importance of radio in these times has gone down immensely so using it for promoting your platform may not be efficient approach unless you are targeting a small area. T.V. may have wider coverage, and you can have a paid advertisement that can connect to viewers. Big companies still broadcast paid ads, but airtime is very expensive.Through Social Media
One of the newer approaches that people in business use nowadays is social media. Through Facebook and Instagram, they promote their products and services. Though social media can help, it may only be limited to a circle of people you know. Though advertising your merchandise on Facebook is free, it may take time for others not in your circle to know about your platform unless your friends will be helping you in spreading the news about your product.Through the Internet
The internet is one of the most significant discoveries in the recent past. It has made great contributions in many fields such as in communication. Used as a potent device for companies in their marketing strategies through Search Engine Marketing (SEM), it is creating many possibilities for businesses. Many businesses have already designed their operations to conform to these innovations. It is now a question of; is your company using SEM, or do you employ an SEM team to work for you or to you who is more innovative, you may now be thinking how to start your own SEM business.
You may pay a considerable sum of money for using SEM, but you may also pay nothing. By using Search Engine Optimization (SEO), you can increase your engine ranking that will result in greater viewership of your platform by not having to pay. SEO is a component of SEM.
Each of the marketing strategies above may have their advantages and disadvantages. But if you dream to conquer the