Industrial or Service Company: Which Marketing Strategy to Adopt ?
In order to stand out from its competitors, acquire and retain customers while achieving its business objectives, a company must adopt an effective, innovative and adapted marketing strategy. Indeed, although they are similar in their definitions, marketing strategies are applied and approached differently if the company sells a product or a service. Learn more about these features.
What are the different marketing strategies ?
To know what marketing strategy to adopt In order to determine the factors necessary to plan a marketing strategy for a company, it is necessary to define many elements beforehand:
- Segment consumers and target customers precisely;
- Positioning on the market concerned according to the field of activity (trends, threats and opportunities), comparing and knowing the competition;
- Consider your strengths and weaknesses;
- define a budget for the whole project (from product design, to launch, to commercialization and then to optimization) and a marketing calendar;
- regroup and use all its internal and external resources (human, financial, material and immaterial);
- work with the communication department for the promotion and the development of customer loyalty (by using the network marketing for example).
Once all these elements are clearly established thanks to the market studies and the qualitative and quantitative analysis of the necessary data, the company will be able to define the best marketing strategy to adopt, or combine several of them, before developing its action plan. Here are the 4 essential marketing strategies to know as an entrepreneur:
- concentration the company will focus on a single segment of consumers and offer them a specific product. To differentiate from competitors, the company can sell its product at a low price, or highlight its features and benefits, or its own expertise;
- differentiation differentiation: by offering a higher quality product at a higher cost (differentiation from the top) or a simpler product at a lower price (differentiation from the bottom), the company targets several consumer segments;
- skimming If the company already has a good reputation and is known for its expertise, it will be able to offer its customers with a high purchasing power very good quality products at relatively high prices (luxury industry, automotive industry, etc.).) ;
- penetration A new company wishing to impose itself on its competitors can decide to break the market prices to quickly make a place for itself.
What are the marketing strategies for service companies? ?
The service companies have to adapt their marketing strategies, although they also use the ones mentioned above, because their main disadvantage is that they sell intangible things (hairdressing, care, training, etc.).). Before determining the factors necessary to plan its marketing to plan its marketing strategy (segmentation, market positioning, budget editing, etc.) reveals that only 28% of companies have a.), a service company must also segment its offerings:
- main Marketing: the one that pushes the customer to buy;
- secondary(s) that complement the main offer;
- “bonus” These are small extras brought by the company that allow it to differentiate itself from its competitors. With a real added value, these bonuses also help build customer loyalty and enrich their experience with the brand.
It will thus be easier to define an action plan adapted to each service, to personalize the customer relationship and to send a clear and professional image to the public. Services are by nature :
- intangibles impossible to see, touch or even store
- heterogeneous Although a standardization is established so that each service is identical, a service cannot be rendered in the same way each time (environment, different employee, etc.).) ;
- the customer also plays an important role in theperceived experience during this service. His opinion is essential, so the first contact must be excellent to make him want to come back and promote the brand around him.
With the advent of social networks and various digital tools, it is the responsibility of every company to adapt to these new modes of contact (multi-channel strategy). L’A wide range of service companies can set up an advertising campaign strategy social media to create and federate his own community. It can also set up a strategy to promote your companyemail marketing in order to stay in touch with your customers as much as possible.
Hence the importance of also knowing the mobile marketing and integrate it into its overall marketing strategy.
Service companies have to be more ingenious to reach their customers and find a marketing strategy that is effective enough to promote and disseminate their offers.