Affiliate marketing describes the process whereby an affiliate earns a commission for selling the products of another person or company. Here, the affiliate is simply an individual who is motivated to promote a particular product through incentivization. The business whose product is being promoted will gain in terms of sales and marketing from affiliates.
As the name suggests, ambush marketing raises awareness for brands at events in a covert and unexpected fashion. Ambush marketing takes many forms, one common element, the brand advertising their products or services has not paid for the right to do so. Thus, the business doing the ambushing attempts to capitalize on the efforts made by the business sponsoring the event.
Brand building is the set of activities that help companies to build an identity that can be recognized by its audience. Thus, it works as a mechanism of identification through core values that signal trust and that help build long-term relationships between the brand and its key stakeholders.
The brand equity is the premium that a customer is willing to pay for a product that has all the objective characteristics of existing alternatives, thus, making it different in terms of perception. The premium on seemingly equal products and quality is attributable to its brand equity.
Brand positioning is about creating a mental real estate in the mind of the target market. If successful, brand positioning allows a business to gain a competitive advantage. And it also works as a switching cost in favor of the brand. Consumers recognizing a brand might be less prone to switch to another brand.
Business storytelling is a critical part of developing a business model. Indeed, the way you frame the story of your organization will influence its brand in the long-term. That’s because your brand story is tied to your brand identity, and it enables people to identify with a company.
Content marketing is one of the most powerful commercial activities which focuses on leveraging content production (text, audio, video, or other formats) to attract a targeted audience. Content marketing focuses on building a strong brand, but also to convert part of that targeted audience into potential customers.
A digital channel is a marketing channel, part of a distribution strategy, helping an organization to reach its potential customers via electronic means. There are several digital marketing channels, usually divided into organic and paid channels. Some organic channels are SEO, SMO, email marketing. And some paid channels comprise SEM, SMM, and display advertising.
Growth marketing is a process of rapid experimentation, which in a way has to be “scientific” by keeping in mind that it is used by startups to grow, quickly. Thus, the “scientific” here is not meant in the academic sense. Growth marketing is expected to unlock growth, quickly and with an often limited budget.
Guerrilla marketing is an advertising strategy that seeks to utilize low-cost and sometimes unconventional tactics that are high impact. First coined by Jay Conrad Levinson in his 1984 book of the same title, guerrilla marketing works best on existing customers who are familiar with a brand or product and its particular characteristics.
Inbound marketing is a marketingstrategy designed to attract customers to a brand with content and experiences that they derive value from. Inbound marketing utilizes blogs, events, SEO, and social media to create brand awareness and attract targeted consumers. By attracting or “drawing in” a targeted audience, inbound marketing differs from outbound marketing which actively pushes a brand onto consumers who may have no interest in what is being offered.
Integrated marketing describes the process of delivering consistent and relevant content to a target audience across all marketing channels. It is a cohesive, unified, and immersive marketingstrategy that is cost-effective and relies on brand identity and storytelling to amplify the brand to a wider and wider audience.
The marketing mix is a term to describe the multi-faceted approach to a complete and effective marketing plan. Traditionally, this plan included the four Ps of marketing: price, product, promotion, and place. But the exact makeup of a marketing mix has undergone various changes in response to new technologies and ways of thinking. Additions to the four Ps include physical evidence, people, process, and even politics.
Marketing personas give businesses a general overview of key segments of their target audience and how these segments interact with their brand. Marketing personas are based on the data of an ideal, fictional customer whose characteristics, needs, and motivations are representative of a broader market segment.
Multichannel marketing executes a marketingstrategy across multiple platforms to reach as many consumers as possible. Here, a platform may refer to product packaging, word-of-mouth advertising, mobile apps, email, websites, or promotional events, and all the other channels that can help amplify the brand to reach as many consumers as possible.
Multi-level marketing (MLM), otherwise known as network or referral marketing, is a strategy in which businesses sell their products through person-to-person sales. When consumers join MLM programs, they act as distributors. Distributors make money by selling the product directly to other consumers. They earn a small percentage of sales from those that they recruit to do the same – often referred to as their “downline”.
A microniche is a subset of potential customers within a niche. In the era of dominating digital super-platforms, identifying a microniche can kick off the strategy of digital businesses to prevent competition against large platforms. As the microniche becomes a niche, then a market, scale becomes an option.
Relationship marketing involves businesses and their brands forming long-term relationships with customers. The focus of relationship marketing is to increase customer loyalty and engagement through high-quality products and services. It differs from short-term processes focused solely on customer acquisition and individual sales.
Sustainable marketing describes how a business will invest in social and environmental initiatives as part of its marketingstrategy. Also known as green marketing, it is often used to counteract public criticism around wastage, misleading advertising, and poor quality or unsafe products.
Real-time marketing is as exactly as it sounds. It involves in-the-moment marketing to customers across any channel based on how that customer is interacting with the brand.
The bullseye framework is a simple method that enables you to prioritize the marketing channels that will make your company gain traction. The main logic of the bullseye framework is to find the marketing channels that work and prioritize them.
Brand marketing describes the process of an organization building a relationship between its brand and customers from the target audience. Instead of marketing the features of a particular product or service, brand marketing promotes the whole brand by mentioning how those products and services support the brand’s promise.
Reverse marketing describes any marketing strategy that encourages consumers to seek out a product or company on their own. This approach differs from a traditional marketing strategy where marketers seek out the consumer.
The term was first coined in 1971 by researchers Philip Kotler and Gerald Zaltman, who defined it as “the design, implementation, and monitoring of programs designed to influence the acceptability of social ideas and that embeds planning, pricing, communication, distribution, and marketing research considerations.” Social marketing uses commercial marketing fundamentals to improve the welfare of citizens and the economic, social, and physical environments in which they exist.
Flywheel marketing was first introduced in 2001 by Good to Great author Jim Collins, who likened the strategy to a flywheel. For those unaware, a flywheel is a mechanical device designed to store rotational energy in an efficient way. It can be difficult to spin at first, but once momentum is built, the flywheel can perpetuate its own motion and spin by itself. Flywheel marketing has become a critical component of growth for platform business models.
Key highlights
Affiliate Marketing: Affiliates earn commissions by promoting and selling products of other companies or individuals.
Ambush Marketing: Brands raise awareness at events without paying for the right to advertise, capitalizing on the efforts of event sponsors.
Brand Building: Activities to create a recognizable brand identity based on core values, fostering trust and long-term relationships.
Brand Equity: The premium customers are willing to pay for a product due to its perceived brand value.
Brand Positioning: Creating a distinct mental image of a brand in the target market, leading to a competitive advantage and brand loyalty.
Business Storytelling: Framing a compelling narrative about the organization to shape its brand identity and resonate with customers.
Content Marketing: Using content to attract and engage a specific audience, ultimately converting them into potential customers.
Digital Marketing: Utilizing electronic channels like SEO, SMO, email marketing, SEM, SMM, etc., to reach potential customers.
Growth Marketing: A rapid experimentation process, often used by startups, to achieve quick growth with limited budgets.
Guerrilla Marketing: Low-cost and unconventional tactics to create high-impact advertising, often targeting existing customers.
Inbound Marketing: Attracting customers through valuable content and experiences, as opposed to pushing a brand onto consumers.
Integrated Marketing: Delivering consistent and relevant content across all marketing channels to create a unified brand experience.
Marketing Mix: A comprehensive marketing plan involving product, price, promotion, place, and other elements.
Marketing Personas: Profiles of ideal, fictional customers to understand their characteristics, needs, and motivations.
Multi-Channel Marketing: Executing marketing strategies across various platforms to reach a broader audience.
Multi-Level Marketing: A strategy where distributors sell products directly and earn a percentage from recruits in their downline.
Niche Marketing: Targeting a subset of potential customers within a niche to avoid competition with larger platforms.
Relationship Marketing: Focusing on building long-term customer relationships and loyalty through quality products and services.
Sustainable Marketing: Investing in social and environmental initiatives as part of the marketing strategy.
Real-Time Marketing: Reacting to customer interactions with the brand in the moment and providing immediate responses.
Bullseye Framework: A method to prioritize effective marketing channels for gaining traction.
Brand Marketing: Building a relationship between the brand and customers by promoting the brand’s overall promise.
Reverse Marketing: Encouraging consumers to seek out a product or company on their own, rather than marketers seeking consumers.
Social Marketing: Using commercial marketing fundamentals to improve the welfare of society and the environment.
Flywheel Marketing: A strategy likened to a flywheel, aiming to gain momentum and perpetuate growth for platform business models.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
