What’s The Best Marketing Strategy For Your Industry Sector?

Not every marketing strategy is going to benefit every industry equally. By focusing your efforts on the right marketing strategies, you can make sure that your time and resources are put to the best use. Below are just a few tips for finding the best marketing strategy for your industry.

Service vs product marketing

Products and services need to both be marketed differently. Marketing a product is all about showcasing value. Marketing a service is meanwhile more about building a trusting relationship. 

Customers are more likely to stumble across products, whereas they are more likely to go looking for services. As a result, products can benefit from more visual outbound marketing strategies – social media can be an important marketing medium, while elements like packaging design and product photography are unique to products. Services tend to be better promoted with words through inbound strategies – SEO is key to generating leads for services, while elements like case studies and testimonials can also be very important.

It’s worth noting that not all companies are purely a product or service. For example, restaurants, software suppliers and equipment rental services can be classed as both a product and a service.

B2B vs B2C marketing

B2B (business to business) companies are targeted towards other businesses. B2C (business to consumer) companies are targeted towards other consumers. Both have a very different audience and so can benefit from being marketed differently.

For example, compare a company selling commercial office chairs to a company selling gaming chairs. Both products can benefit from methods like social media marketing, however you may want to consider focusing on different social media sites. LinkedIn may not be appropriate for promoting a gaming chair, while TikTok may not get you many leads for a commercial office chair. 

The language you use to market each one will also have to be different. When promoting B2C products, the tone is typically more down-to-earth and there’s a focus on promoting convenience. When promoting B2B products, the tone is often more formal and there’s a focus on promoting efficiency.

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Budget vs premium

Budget products and services are more likely to be purchased on impulse. The goal should therefore be to advertise them in as clear and concise a way as possible, while emphasising the low cost. Snazzy packaging, shop window signs and social media ads can all be simple ways to promote these products.

Customers are more likely to take their time when choosing to purchase a premium product/service. You therefore may have to provide a lot more information to help convert them, while putting more emphasis on the quality of the product or service. Hiring sales reps to answer customer questions could also be necessary. Explainer videos, sales conferences, detailed websites and marketing emails leading to over-the-phone consultations may be a better way of marketing these types of products. 

Broad vs niche

Some products and services have a very broad appeal. This includes dental services, mattresses, cafes and credit cards. When marketing these products, you can be a lot more general as to where you promote and who you promote too. Creating different marketing campaigns aimed at different demographics can still have its advantages, but generally you don’t have to be so precise.

Niche products and services have a much more limited appeal. These types of products and services require much more precisely targeted marketing campaigns. This means that you have to do a lot more market research. Customers are also likely to spend more time researching niche products and services, which means that a detailed website can often be beneficial. Try to use niche language and show that you are an expert to win over their trust.