If you want people to purchase and prefer your product over competitors, then you have to spread product awareness and approach the customers in the best way. It requires you to develop an advertisement strategy to spread your product awareness. However, advertisement strategies play a significant role in amplifying your sales and making people buy your product. Today, we’ll discuss what is advertising strategy; its various types, and how to create it.
What is Advertising Strategy?
The advertising strategy is a step-by-step process of approaching your target customers and persuading them to purchase your product. Well-developed ad strategies not only offer the benefits and features of the product, but they also persuade customers to choose your product over competitors.
However, the advertising strategy is the product of the company’s efforts to establish brand awareness and increase sales. It comprises launching new products in the market, increasing the sales and conversion rate, attracting new visitors, engaging with customers, and finding the target market.
Small businesses and companies, large corporations, and many in-between; all employ a combination of traditional and digital marketing and advertisement strategies. The traditional advertisement comprises street teams, direct mail, billboards, print ads, and television ads. However, digital advertisement comprises email marketing campaigns, social media campaigns, content marketing, and digital ads.
Types of Advertising Strategy
Some of the main types of advertising strategies are as follows;
Seasonal Advertisement
It is a type that focuses on the advertisement of seasonal products and advertisement of your business in a particular season. Various big companies launch their advertisement campaigns at the start and run them throughout the season. However, the advertisement strategies are highly beneficial and they offer a great return on your investment. Businesses and companies run their ads when there is a need for the product in a particular season rather than spending their money throughout the year.
Social Media Advertisement
Social media advertisement is a very popular type that businesses and companies employ to promote their products and services and stay in contact with their customers. Various brands have created their business profiles and pages on different social media platforms and they share information about their business on these pages.
Advertisement on social media is the main choice for many big and small companies. It is mandatory for businesses and companies to spend millions on their ad campaigns on social media, they can do it with a very fewer amount of money.
Ownership Advertisement
It is a type where the company encourages its customers to participate in the advertisement campaign. For instance, Coca-Cola launched the “share a coke” social media campaign where it asked its users to take a picture with a coke bottle and share it on social media and tag the company with it. Indirectly, the company is encouraging people to buy its product with word-of-mouth marketing.
Modeling Ad Strategy
It is a type where the company employs public figures, media personalities, celebrities, and other famous people for the promotion of its product. It is a very effective strategy and it helps the company to attract the followers of the influencers toward buying its product.
Utility Ad Strategy
It is a unique and creative type of strategy where you advertise and market your product by helping other people to achieve their goals and objectives.
Evocation Advertisement
It is a type that focuses on marketing its products by targeting the emotions of people. Companies develop a positive image of their brand and it allows them to connect with people at an emotional level.
How to Create Advertising Strategy – Steps
Some of the main steps how to create an advertising strategy are as follows;
Competition Analysis
The competitors’ analysis would allow you to narrow down your product options and precisely define the niche. It helps you to see how your competitors are selling their products; whether they’re employing traditional or digital media. How their landing page looks like. Most importantly, it allows you to compare your product with the other prevailing products in the market. It helps businesses to see what type of unique value they can provide to the customers.
Price Analysis
As the name implies, it is the process of setting the suitable price for the product of the company. When you check out the price range of the products of competitors, it would help you to define your price. The low price and low cost can disrupt the market and it always has growth potential.
Creating Buyer Persona
In order to create a buyer persona of your ideal customers, it is important to research your customers, their demographics, and their pain points. When you have all the relevant information about your ideal customers, then you can easily create a buyer persona. A buyer persona is a form of imaginary representation of your ideal customers that the company plans to target and connect with.
Advertisement Content
After defining your target audience and creating a buyer persona, it is time to create your advertisement content. It is important that you should craft such content that would attract the attention of customers.
Marketing Channels
The marketers of your company could employ digital platforms to approach target customers like e-commerce, landing pages as a website, search engine, or the company’s website. Some of the digital marketing strategies that the company can employ are PPC, SEO, or email marketing.
Influencer Marketing
Social media influencers offer you a great way to connect with your target customers. Some marketers work with bloggers, and others use affiliate programs. However, if you work with influencers, it allows you to approach such people that you cannot target any other way.
Product Reviews
Product reviews and customer testimonials are another great way to show your performance to your potential customers and make them buy your product. Personal referrals have a great impact on influencing the minds of customers.
Organic Traffic
Integration of SEO with content marketing would help you to bring traffic to your website through organic searches. Content marketing comprises developing and maintaining a blog about your brand and appearing on the podcast regularly. However, it allows you to develop a relationship with your potential and existing customers.
Evaluation
After launching your advertisement campaign, next you have to evaluate the performance of your campaign to see how it is working. You can run different types of ad messages to see the responses of customers with the help of a click-through rate. It is important that you should regularly review your campaign metrics, and retarget your market with a different strategy.
Linking Ads with Customers
After analyzing the behavior of your target audience, it is necessary that you should link your advertisement with your customers. The behavior of customers is different in different geographical regions, you should develop your campaign message relevant to your audience.
Conclusion: What is Advertising Strategy? Types, How to Create It
After an in-depth study of what is advertising strategy; its various types, and how to create it; we have realized that advertisement strategies are important for your company’s growth and productivity. If you’re developing it for your business, then it is significant to keep in mind the abovementioned guidelines.
Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Other than that, he’s a fun loving person.
