3 Effective Marketing Strategies from Fortune 500 Companies
Creating a successful marketing strategy is one of the most challenging tasks every company faces. It requires from them to think outside of the box in order to get the best possible results with as little time and money investment as possible. But, there are some threads that are in common for both big companies and small ones. We have narrowed the list down to the most successful companies with the best marketing strategies out there. Here are the most innovative marketing strategies from Fortune 500 companies.
Creating Social Engagement
A good social strategy and an active community help further establish brand quality and trust. They help build stronger engagement with the customer, which creates long-lasting relationships. This can be showcased through a number of examples out there, but to perfectly illustrate the image we’ll take two business polar opposites who implement this strategy.
The first example of this, and probably the most perfect one, is the famous brand Starbucks. Much more than just a coffeehouse chain, Starbucks knows precisely what their customers want and knows how to operate a globally successful marketing strategy. Starbucks is always on point when it comes to social media marketing, with clever use of promotions, tweets, posts and consistent customer interaction. To put this into perspective, the official Starbucks Twitter account alone numbers more than 11 million followers.
Another global business that understands the importance of customer engagement is Bet365, an online gaming company based in the UK. Operating in a completely different branch of the service industry, Bet365 needed a different approach to getting new customers on the platform. This came through in the form of a welcome casino bonus for all new players on the website, a trend that many online casinos use to attract new users.
Creating Brand Consistency
Brand consistency is a game changer that takes the company to another level in marketing their services and products. The mistake many companies and marketing executives make is not focusing on brand consistency and development. When you think about some of the most recognisable brands, one of the first names that pop up is Coca Cola. The answer for this is simple and comes down to brand consistency.
Coca Cola was first introduced in the 19th century and has kept a consistent brand for over 130 years. Even in the age of online marketing, Coca Cola has managed to stick to their vision and offer consumers a dependable product across all marketing channels. Every company out there can take notes about brand consistency from Coca Cola. Their example perfectly illustrates that, when it comes to creating a long-lasting brand, consistency can make a world of difference.
Creating an Experience that Stands for Something
There’s no better way to finish off this article than by listing a company that is currently the best in the world when it comes to marketing. Even though Apple is currently 4th on the Forbes 500 List and is rapidly rising in ranks, their success didn’t come overnight. Their road to success was several decades long, but Apple never strayed from its mission – to create a movement and experience that can’t be matched by any other product.
With an excellent product placement strategy, Apple has managed to attract millions of customers by speaking to audiences using their own language. This has allowed them to operate separately from the market they’re seemingly operating in.
For example, Apple product prices operate under its own ecosystem. The company offers a variety of options at different price points, but they never get involved in price wars with other brands. No matter if their prices are higher than the competition, they always stick to their pricing range because they are focused only on the unique product and service that stands for something, rather than the price. You may not have the budget of Apple or the unique brand of Starbucks or Coca Cola, but when you work to create a unique and consistent marketing strategy, you can develop your business even on a small budget. Focus on your strengths and follow the footsteps of some of the companies we’ve talked about above, and you will have a strong marketing strategy that will bring results.
Really very informative post.Awesome content you share.Thanks for this