Marketing Strategy Advice From Forbes Contributors
We have compiled articles discussing marketing strategy that have been published on Forbes over the last couple of weeks. While we offer plenty of our own digital marketing advice here at Onimod Global, it never hurts to get another perspective. So, what do the experts have to say about building up a successful marketing strategy?
Flywheel Effect
A flywheel has many different spokes. This same principal design can be easily transferred to marketing. As Lisa Allocca described in her Forbes article, “The best marketing results come from integrating marketing activities from different spokes of the marketing flywheel to see success.”
Each aspect of a marketing strategy (search engine optimization, social media marketing, paid advertising, etc.) represent a spoke of this flywheel. The specific spokes may vary depending upon the goal of the business, but the idea remains the same. All strategy objectives are equally important to achieving the organization’s overarching goal.
Rule of Seven
The same article by Allocca brings another significant strategy to light: the rule of seven. The basic meaning of this rule is that in order to effectively market any product or service to the target market, it must be repeatedly presented to them at least seven times.
This rule is by no means a new idea. It has been discussed for years as a surefire way to make a lasting impact upon consumers. Unfortunately, this rule is quickly and easily forgotten by most marketers.
This once again brings us back to the flywheel analogy. It is critical that your marketing strategy does not overlook any components just because they are simple to understand and execute. You need every piece of the puzzle, not just a few.
Big Wins vs Consistency
Forbes contributor, Same Page, debated the pros and cons between a high-risk and high reward marketing strategy compared to a low-profile and consistent marketing strategy.
Page noted that many people recognize the riskier organizations that target the biggest fish in the pond. After all, who doesn’t remember the horrendously creepy Burger King campaign from last year? Consumers had a violently negative reaction to the King, and the ads were quickly pulled off air.
Positive results are not impossible with a risky strategy. As Page pointed out, the Dos-Equis campaign that followed the day-to-day lifestyle of the “Most Interesting Man in the World” was a huge hit.
On the other hand, we have consistent marketing strategies. Page brought attention to several brands that many consumers pay little attention to, but are still achieving success year after year.
In the end, Page concludes that the main aspects to consider when deciding between these two types of marketing strategies are, “your product, the customer base you’re marketing to, how risk-averse your company is and how creative your marketing team is.”
Changes in Future Marketing Strategies
As digital technologies continue to advance, marketing strategies are sure to change in the coming years. Brian Solis describes his expectations for the future of marketing in his own Forbes article.
Solis breaks down modern day consumers and their recent marketing trends into the following 3 categories:
- Availability of Information
- High Expectations
- Impatient Attitudes
These 3 trends represent the shift going on in marketing right now. Consumers have more information at their fingertips than ever, and there is no where for brands to hide.
Expectations are also growing higher and higher as organizations adapt to the consumer and their every need. Brands that cannot or will not adapt to these needs will soon be left behind and forgotten.
The desire for instant gratification is also rapidly growing among consumers. This is a very logical standpoint because who would really want to wait around for any kind of product or service when they have the option to get it immediately? The faster brands deliver, the better.
As patterns of behavior and attitudes shift among consumers, it is important that marketing strategies shift along with them. Any resistance to these changes will only have negative impacts upon the brand itself. So what are you waiting for?
