One Marketing Strategy Won't Work For All Businesses - Garlic Media
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One Marketing Strategy Won’t Work For All Businesses

marketing strategy, business models, for-profit marketing strategy, nonprofit marketing strategy, donations, products, services

One Marketing Strategy Won’t Work For All Businesses

Creating connections through networking is essential for success in any enterprise. To accomplish a goal, you need to effectively present your vision to a receptive audience. In both for profit and nonprofit sectors, creating an engaging marketing strategy is key. Despite huge differences in business models, both charities and corporations must have captivating and clear ways to communicate with their donors and customers. A precise custom marketing strategy that is well executed, will ensure you attract the attention you need to build your dream.

For-profit businesses offer goods and services to customers in exchange for a cash payment. Nonprofit organizations are built to achieve a common goal aside from creating additional revenue for the company. These organizations are sustained by donations that come from parties interested in supporting a common goal. Understanding the fundamental differences between these business models is crucial to developing effective marketing solutions.

 

For-Profit

In a for-profit enterprise, it is essential to market the value of goods and services being offered. This starts by creating a product that has demonstrable usefulness and value. Once you find a way to add value to the market by introducing a novel idea or piece of merchandise, all of its potential applications must be explored. There are many examples of famous inventions that would have been far less significant if their inventors had not reconsidered where they could be useful.

Nalgene, the renown water bottle company, had originally invented their patented plastic for centrifuges and other commercial lab equipment. It wasn’t until the owner listened to his employees’ suggestion of using his material to create water bottles, that he saw the business take off. By creating a revolutionary original product and finding the niche where it would be valued the most by consumers, Nalgene could then create targeted marketing campaigns aimed at eager outdoor participants in need of a durable solution for carrying water.

After exploring all the practical applications of your innovation, you must decide what messaging will make your product the most attractive to the most receptive audience. Finally, the marketing campaign has to draw from the culture and values that are present in the target demographic and reflect them onto the product itself. Navigating this process can be complicated, but with a dedicated marketing team that understands how to create strong custom advertising, your company can become the next industry leader.

 

Nonprofit

Charities do not have the luxury of offering a concrete good or service directly to consumers in exchange for payment. Instead, a non-profit organization must market a mission. Finding a need that is unaddressed in society and solving it, is the first step to building a charity. Identifying areas of need can be difficult and there is so much in need of improvement, that concentrating efforts on a single goal can feel impossible. Unfortunately, without a specific mission to market, building a donor base to support you will be nearly impossible. Therefore, identify which of your efforts is the most effective at creating tangible change and focus on transforming it into the most efficient system possible.

Once you have identified your precise area of concern and devised a way to improve the situation in the most cost-effective and labor-saving way, you can start looking for donors. Marketing a mission can be harder than marketing a product since there is less of a tangible representation of the value that can be presented to investors. That’s why, for charities especially, it is essential to have a clear and powerful marketing strategy that demonstrates the incredible potential for good that exists in every donation. By creating strong messaging that is emotionally appealing while also financially sensible, you can truly make donors feel like investors in your mission.

 

Whatever your goal may be, effectively creating a community of engaged supporters is essential. Depending on your product and business model, different messaging strategies must be implemented. Having a clear picture of your target audience is essential and reaching out to them in a way that is consistent with their culture and values is the only way to generate sincere involvement. Infusing specific nuances and tones into a marketing campaign can be a challenge but with a marketing team that understands how to best identify and reach your audience, you can develop a powerful marketing campaign in no time.