Effective marketing tactics include three basic components to make a business successful: attraction; conversion; and retention. The goals typically include attracting new customers, converting competitors’ clients, and retaining current customers. A mix of all three generally gives a business an edge over other companies that offer similar products or services. Marketing tactics begin with an idea, or marketing strategy, that leads to action in all three areas.
One of the most important factors in attraction marketing tactics is name recognition, commonly called branding, so potential customers become familiar with a service or product. Business executives estimate it takes about 10 contacts with a customer before he or she actually buys something. The first step is identifying the audience a business hopes to attract and using marketing tactics to reach that group.
Attraction is typically the most expensive and time-consuming segment of marketing. Some companies employ guerrilla marketing tactics as an unconventional means of investing more effort and energy than money. Guerrilla marketing gives a business wide exposure to a lot of prospective customers though strategies like bumper stickers, an open house, or T-shirts that display a logo and advertising slogan.
Social media offer another popular way to create an advertising blitz that might be seen by a wide audience. Web sites can target people who already have an interest in a product offered for sale. They can also appeal to competitors’ customers and keep current customers informed of sales or promotions. Online newsletters represent inexpensive marketing tactics that might cover the attraction, conversion, and retention goals of a business.
Conversion marketing tactics aim to convince prospective clients to act quickly to call or buy a product. These strategies commonly offer a product or service for a limited time at a special price and try to convince a person that he or she needs the product. When using the Internet for conversion efforts, promotions might be linked to another Web site to tailor marketing efforts to people who routinely buy the product.
Retention marketing tactics commonly are the least costly, but they sometimes are overlooked in favor of attraction and conversion techniques. Retaining current or past customers might lead to referrals and new clients. Market research specialists recommend staying in touch with customers via newsletters or e-mail lists. One tactic that might be successful is offering customers a discount or gift for every referral. Another idea that rewards loyalty involves sponsoring an event for current customers and asking each person to bring guests.