As consumer attitudes and expectations change, marketing methods evolve—and fast. If your business has been relying on the same marketing strategies for a while, it might be time to consider something different.
Embracing a new-to-you marketing tactic can help you draw in prospective customers, improve your business’s reputation, and ultimately increase your profits.
Here are three valuable types of marketing you can leverage to grow your business:
Video marketing means marketing to customers through video content, either on your business’s social media platforms or website. Video marketing takes countless forms, from how-to videos, product demos, and live streams to brand messaging videos, behind-the-scenes footage, and customer testimonials.
Social media platforms like Instagram and TikTok have made video watching part of most people’s everyday lives. That’s why video marketing is no longer just popular—it’s standard. According to HubSpot’s 2022 State of Inbound Marketing Report, for the third year in a row, video is the top media format marketers use.
Benefits of video marketing
Video marketing makes it easier to:
- Cater to customer interests: The best forms of marketing ensure your business doesn’t get left behind. With video marketing, cashing in isn’t just a smart idea—it’s critical to engaging your customers. People watch an average of 19 hours of online video a week, according to 2022 research from Wyzowl, so it’s a good way to meet them where they are.
- Foster trust: Videos are a great way to educate and inspire your customers, as well as showcase your business’s personality and creativity. Fostering trust with your customers can lead to repeat sales, word-of-mouth referrals, and lifetime loyalty.
- Reach new people: Sharing helpful, compelling, or relatable videos can put you in front of potential customers. According to Wyzowl, people are twice as likely to share video content with their friends over other types of content.
- Benefit your bottom line: Video marketing has an impressive return on investment. Eighty-eight percent of Wyzowl’s survey respondents said they’ve been convinced to buy a product or service by watching a brand’s video.
Video marketing best practices
1. Prioritize relatability, not perfection
Your videos don’t have to be professionally produced and edited to be effective. In HubSpot’s 2022 Video Marketing Report, 78% of consumers surveyed said it’s more important for marketing videos to be authentic and relatable than polished.
2. Embrace short-form videos
It’s a good idea to play around with different video formats and platforms to see what works, but if you have to focus your efforts, short-form content is the way to go. HubSpot reported that the most effective social content format is short-form videos; plus, short-form videos have the best ROI.
3. Give every video a purpose
Every video you create should either showcase your business’s offerings, promote your values, or align with a fun social media trend. To check your content, ask yourself: Why are we making this video? Why should our customers watch? What do we want them to take away from the experience?
4. Promote your videos
Aim to put just as much effort into distributing and promoting your video as you do into creating it. That means running ads to promote your videos, adapting the content to different social media platforms, and creating campaigns to push out your videos.
Partnership marketing is when you team up with another business, company, or organization for a mutually beneficial campaign or promotion. Partnering with another business can help you reach new customers and drive more traffic to your website or storefront, while showcasing your business’s ethos and offerings in an exciting new way.
Though this type of marketing has been around for a while, it’s become even more impactful since the start of the pandemic. As businesses pivot to stay relevant, partnership marketing can help fill in the gaps in a customer base.
Benefits of partnership marketing
You can use partnership marketing to:
- Adopt loyal customers: By partnering with a business or organization that complements yours, you can take advantage of the loyalty that business has fostered with its customers.
- Share the load: You can pool resources and share brainpower when it comes to strategy creation, goal setting, and measuring results.
- Expand your support network: Teaming up with another operation doesn’t just benefit you in the short term with customer acquisition and sales—it can also lead to long-term support. If you forge a strong partnership, you have someone in your corner to look out for your best interests, take care of your customers, and send you consistent referrals.
- Create lifelong customers: Partnership marketing can increase your customer satisfaction and loyalty. When you refer customers to a brand or offer them a discount on products or services they might like, it shows you care about their happiness.
- Give back: You can also partner with nonprofit organizations to support the causes you care about and encourage your customers to give back, too.
Partnership marketing best practices
1. Be selective
Partner with a business that complements your offerings and aligns with your values. Making sure you’re on the same page with your goals and strategies helps reduce friction and maximize success. To find a good partner, start getting involved in your local business community and consider joining an online industry group.
2. Start simple
The best way to trial a partnership is to offer a complimentary product or service from your partner’s business with a purchase from your business. You can use survey results and measure website traffic to find out what customers bought and whether or not they liked it.
If you work well together, you can try a cross-promotion next, where buying something from your business gives customers a discount on your partner’s offerings.
3. Create benchmarks and goals
It’s crucial to discuss your goals with your partner and set benchmarks to hit. Not only will clearly defined goals help inform your marketing strategies, they’ll also keep you on track when working together. Make sure you go over customer acquisition and sales targets, timelines, and web traffic targets.
Influencer marketing means partnering with social media influencers to promote your business’s products and services. According to HubSpot’s 2022 marketing trends report, influencer marketing is the number one marketing trend right now. In 2022, 68% of marketers work with influencers, and 88% of marketers have a dedicated influencer marketing budget.
The appeal of influencer marketing is that it introduces new people to your business in an organic way. This type of marketing taps into people’s innate desire for peer recommendations. After all, influencers aren’t just experts at social media—they also have built-in audiences who care about their content and listen to what they have to say.
Benefits of influencer marketing
With influencer marketing, you can:
- Connect with new customers: Partnering with influencers can expand your business’s reach, connecting you with people you wouldn’t ordinarily draw in using your usual marketing methods.
- Improve your business reputation: Partnering with respected, influential people in your community, industry, or niche can help improve your business’s credibility and generate positive brand awareness.
- Grow your social media following: Influencer marketing is an effective way to grow your online following, increase engagement, and drive people to your business’s website, ultimately helping to increase sales or revenue over time.
Influencer marketing best practices
1. Do your research
Start with one social media platform to start—like Instagram, Facebook, or Twitter—and do some research. You want to partner with influencers who 1) have audiences in your target customer demographic, 2) create quality content and engage with their audiences, and 3) align with your business’s values and mission.
Look for people who already talk about or show interest in the types of products or services your business offers. You can search hashtags related to your business, your offerings, or your location to get started.
2. Consider smaller influencers
Small-scale influencers can boost your business’s brand awareness just as effectively as large-scale influencers, but for a lower investment. People with smaller followings tend to have niche focuses and higher engagement with their communities, meaning you might get more bang for your buck.
Instead of reaching out to influencers with massive audiences, consider partnering with nano influencers (people with 1,000-10,000 followers) and micro influencers (people with 10,000-100,000 followers).
3. Clarify your goals
Before you get carried away contacting influencers, come up with a plan. Start by reflecting on what you want to achieve with influencer marketing. Are you hoping to expand your customer base or generate more buzz around your products and services? Do you want to influence your business’s reputation one way or another? Your goals will dictate your partnership strategy and what type of content you put out.
Change your marketing, change your business results
Experimenting with different marketing methods takes time and money, but it has the potential to set your business up for steady growth and success. If you haven’t dabbled in video marketing, partnership marketing, or influencer marketing yet, consider giving them a try.