Marketing can be complex, frustrating and may oftentimes feel even like a waste of money. But when handled the right way and with the right marketing plan, it can be extremely effective for your business.
But how does marketing change throughout different industries? Are there some strategies that are more effective for specific industries over others? Or does everything depend entirely on the company itself? Both are correct. Although social media marketing is a great way to reach consumers for retail companies, it’s not nearly as effective for those in industrial organizations. However, that doesn’t mean there are no industrial companies out there that could benefit from this form of marketing.
In this day in age where we are constantly exposed to various marketing and advertising platforms, you may be wondering which ones are right for your business, and whether its’ even worth spending your money on. According to a report done by Deloitte, Duke The Florida School of Business and the American marketing association, nearly every industry in our country will be raising their marketing budgets to some degree. This means that even if it’s not a lot, you should probably take advantage of some new marketing strategies before you get left behind.
Marketing For Your Industry
So what methods work for what industries? In a 2016 study done by Bizible, many industries have already found which channels work better for them. For instance, in manufacturing, email marketing and marketing techniques used for trade shows and conferences are the way to go. These methods allow them to not only reach new buyers, but they also help to keep current consumers up to date with what’s new and relevant for that manufacturing company.
Meanwhile, in healthcare, they have found paid search to be one of their best marketing techniques. This allows organizations to advertise directly to the audience they are trying to target. And similar to manufacturing, healthcare companies are also discovering that budgeting towards marketing for conferences and trade shows has also been effective.
By researching competitors and understanding what normally gives your industry the best ROI, you can begin to determine which marketing channels will bring you the best value for your dollar.
Marketing For You Specifically
Once you get an idea of what channels generally work for your industry, you now need to think about what sets you apart from your competition. Why would a customer want to use you/buy from you? What kind of brand are you and how do you portray that to your audience? Are you marketing B2B or B2C? All of these play a major roll on your overall marketing plan.
We understand how important it is, albeit how difficult it can be, to create an effective marketing plan. Without a plan, it’s like running through an unfamiliar forest in the middle of night, hoping to find the cave with hidden treasure. A marketing plan can be your map, a guide that will help you navigate through the difficult terrain. Although it’s complex to create, it may just keep you from making some costly mistakes.
Marketing can seem overwhelming, but it doesn’t have to be. Think about what outcome(s) you’re looking for, how much you’re willing to spend, and how you plan to reach those goals, then go from there.
For more information on how to market in your industry, check out these resources!
Here’s An Industry Comparison Of The Most Widely Used Marketing Channels: https://www.bizible.com/blog/most-popular-marketing-channels-across-nine-industries
Which Industry Spends Most on Marketing?: https://www.marketing-interactive.com/which-industry-spends-most-on-marketing/
Tips for Creating a Great Business Marketing Plan: https://www.businessnewsdaily.com/4-creating-effective-business-marketing-plan.html
20+ of Our Best Vertical Marketing Guides Across 14 Industries: https://www.wordstream.com/blog/ws/2015/05/19/vertical-marketing-guides