Marketing Strategy

The distinguishing feature of marketing is that it can be thought of as a set of tools and techniques. So you should think of marketing as a set of tools, techniques, and ideas that you want to use.
You can think about marketing in terms of different types of marketing strategies:

1. Promotion

this is simply a description of your product and the relevant information about it for potential customers to find it.

2. Acquisition

this is the act of trying to acquire new customers by either direct sales or referrals.

3. Retention

this is how long your customer stays with your product, probably because they like it so much that they are willing to deal with your company when they have to buy it again or because they have friends who bought it or because they have sponsored an app on their phone, etc.

4. Monetization

This is when you sell things like advertising space and subscriptions to help support your business, such as if you sell advertising space on Facebook or on iTunes or go through ad sales channels like Google or Amazon (both ways).

5. Marketing mix

this means the different elements that go into making sure people buy your products (such as price, promotion, distribution channels, etc.). For example, if you’re selling online then online ads are part of your marketing mix. If you’re doing in-store promotions then those might also be part of your marketing mix.

Marketing Strategy

There are good marketing strategies, and there are bad marketing strategies. Bad marketing strategies are those that, while they may be effective in the short term, do not give you a long-term advantage.
One of the most important questions to ask when evaluating a marketing strategy is: what is the goal? Sometimes it is obvious: to increase sales, raise awareness, etc. But other times it is not so clear and we need to dig into it more.
Finally, if we want to be successful with multiple marketing channels (not just social media), we need to think about view more…