5 marketing principles and techniques in social marketing

5 marketing principles and techniques in social marketing

Social marketing comes with principles and techniques that effectively grow a brand. These principles are also known as the marketing mix. Business owners use these variables to control their brand and satisfy consumers. Below are the five marketing principles and techniques used by owners to add value to their brand.

1.    Products and Services

All businesses require products or services to begin marketing. Some brands offer both to their customers. Before manufacturing products or rendering services, proper research has to be made. This research determines the customer’s needs to decide on the marketplace opportunity available. Research can investigate competitors’ analysis and other related brands and discover new products and services that customers need.

These few questions below may help in this case.

  • What are the marketplace’s biggest needs or pain points? Existing products may not meet customers’ needs which are the pain points in the market. Develop a product to close those gaps.
  • What kind of offering can address customers’ needs? You can discover a product needed by the public but neglected in the market. You can create products or services to fill this gap.
  • Which products or services are already on the market? After researching the market, you can create a unique product in a saturated market.

After creating the products or services, owners should be ready to answer some simple questions such as

  •  Is it ready to be released?
  • Do customers know the product’s purpose?
  • Are customers primed to buy this product?

When launching the product or service, there should be an awareness campaign to inform the target audience about the product or service. The product or service needs to be well described to bring value to the brand. Here is what an effective product or service awareness strategy entails.

  • Attributes: Educates the customers on the product or service focus, function and highlights unique attributes
  • Uniqueness: Your product or service should be unique and different from competitors to attract customer
  • Benefits: Educate the advantage of your product or service and make it obvious at first sight.

2.    Price Strategies in Marketing

Pricing is an aspect to look out for. Price contributes to determining the success or failure of a product or service. A brand must balance making a profit and providing affordable financial value to its audience. Price depends on different factors such as:

  • Cost and margin
  • Competitor pricing
  • Customer behavior

Here are seven pricing methods to boost brand sales

  • Bundle pricing: this method combines different products to form a package. These products have different prices, but the package has a single price which may be lower when bought singularly.
  • Captive pricing: this method mostly works on products that depend on other accessories to function properly.
  • Competitive pricing: this approach is done by researching competitors’ prices and setting your brand prices to beat those prices.
  • Economy pricing: this approach is done when brands place their prices low to get more sales to make a profit.
  • Penetration pricing: some brands set low prices to steal customers from competitors.
  • Price skimming: this strategy sets high prices that get lowered with time by including discounts.
  • Psychological pricing: the approach takes advantage of customers’ emotional responses to make sales. This approach may include bonanzas or promotions.

3.    Place in Marketing

The place or demography of a product determines its success or failure. A place in the market or site where the product is being sold to the customer. For instance, consumer products are usually sold in retail stores. Recently, most of those stores have gone digital on platforms like Amazon or Etsy. These brands also make deliveries of these products to the consumers.

A product should be sold where it is easily accessible to the consumer. Most stores do this by displaying their products in other stores like Walmart or Target, tv shows, or commercials. In the case of digital marketing, the user interface and search function can help a consumer locate a product seamlessly. You can also use search engine optimization (SEO) to rank your products on search engines such as Google. SEO uses relevant keywords to describe a product placing it at the top for consumers to find.

4.    Promotion in Marketing

Constant communication creates consistent awareness for your brand. Communication increases brand attention while convincing potential buyers. However, you have to know your target audience before making a promotion. After this, you can tailor your post to reach the right customers or buyers. You can use digital forms of promotion to get your brand out there. Here are some examples of marketing tools used for promoting a brand to increase sales.

  • Email marketing: email is a digital promotional tool used for communication. Email is effective for campaigns as it aims to convert potential buyers while establishing brand loyalty.
  • Public relations: this method is a way of spreading information about your brand to buyers and organizations with the power to influence others. For instance, using a newspaper or influencer on social media to gain more followers.
  • Advertising: is another form of promotion by paying for an opportunity for your brand to appear in a media outlet. Digital ads are in different forms, such as videos, in-add sponsorship, etc.
  • Content marketing: content marketing aims at posting relevant and engaging messages to reach the target audience. The message must be interesting, forcing the viewers to share and spread messages without paying. Some examples are memes, videos, and social media posts.
  • Customer referral incentive programs refer to the word-of-mouth approach to marketing. The method involves offering discounts or promotions to existing customers who refer a person to buy your products. A referral program effectively convinces a person to buy a product based on trust.

5.    People in Marketing

The people you are selling your brand to also matter in the success or failure of the business. Brands often target people outside their platforms, such as customers and partners. Social marketing aims to generate revenue from outside the brand through an external audience. The success of this approach is determined by the people working in the brand. These staff can repel or attract more customers depending on their buyers’ impression. People technique involves scouting, training, and hiring the right individuals to contribute positively to the organization. Brands use many strategies to attract these inclined workers to their organization or brand.