7 Little-Known, Tested & Proven Marketing Strategies
To Double Your Business in 2023
This Report is Sponsored by Lazycom
Lazycom is a software that helps you automate your marketing, segment your visitors to send personalised emails & SMS streamline your ecommerce business to become more efficient and track your progress with easy to understand tools & analytics
Why You Need New Strategies?
You'd agree that with the rising cost of advertising, its important you develop marketing strategies that allows you to compete profitably in 2023
So you can ultimately increase sales and revenue, attract and retain customers, and differentiate your brand in the current competitive market.
And here are 7 marketing strategies you can use to double your business in 2023 when implemented.
1. Email & SMS Marketing
This is a type of marketing strategy that involves sending targeted and personalized emails to a list of subscribers.
There are several types of emails that can be used for email marketing:
These are emails that are sent to potential customers before they make a purchase, providing them with information about a product or service and encouraging them to make a purchase.
These are emails that are sent after a customer has made a purchase, thanking them for their business and providing them with information about their order and you can also suggest other products to them
These are emails and SMS that are sent to customers who have added items to their online shopping cart but have not completed the purchase. The goal of these emails and SMS is to encourage the customer to complete the purchase.
These are emails and SMS that promote a product or bundle, often with a special offer or discount.
2. Loyalty Rewards:
This is a type of marketing strategy that rewards customers for their loyalty to a brand.
Customers can earn rewards, such as discounts or free products, for making purchases or engaging with the brand in other ways.
You can do this by offering a rewards program where customers can earn points for every purchase they make.
These points can be redeemed for discounts or free products.
You could also offer exclusive discounts or free products to customers who have reached a certain level of loyalty. Brands like Healthplus use this to increase their yearly sales
3. Subscription Model:
This is a type of marketing strategy that involves customers subscribing to receive a product or service on a regular basis.
Customers can choose the frequency of their subscription (e.g. monthly, quarterly, etc.) and can often customize their subscription to include specific products or variations of a product.
You could use a subscription model is by offering a monthly subscription box that includes a selection of products chosen by you.
Customers can choose the frequency of their subscription and can decide to customize their box to include specific products or variations of a product.
4. Ascension Model:
The ascension model is a type of marketing strategy that involves offering customers a series of products or services at increasingly higher price points. The goal of the ascension model is to upsell customers to higher-priced products or services over time.
There are several components to the ascension model:
These are additional products or services that are offered to a customer at the time of purchase.
The goal of a bump offer is to increase the total value of the customer's order.
These are additional products or services that are offered to a customer just before they complete their purchase. The goal of a pre-checkout offer is to encourage the customer to add more items to their order.
The customer is already in the buying mood, why would you want to say NO or stop them from buying more?
These are higher-priced versions of the product or service that a customer is considering purchasing.
The goal of an upsell is to encourage the customer to purchase a more expensive version of the product or service.
These are lower-priced versions of the product or service that a customer is considering purchasing.
The goal of a downsell is to encourage the customer to purchase a less expensive version of the product or service, rather than abandoning their purchase altogether.
So, if you were offering a bundle as your upsell, you can decide to remove some of the products that make the bundle.
These are additional products or services that are related to the product or service that a customer is considering purchasing.
The goal of a cross-sell is to encourage the customer to purchase additional related items.
So, they purchased a skincare bundle that includes oils and creams, you can offer them vitamin E supplement for their skin as a cross-sell
These are additional products or services that are offered to a customer after they have made a purchase.
The goal of a backend offer is to encourage the customer to make additional purchases in the future.
This can range from services like consultations or even digitals products
An example of how a beauty brand can use the ascension model is by offering a series of skincare products at different price points.
The brand could start by offering a basic skincare kit at a lower price point, and then offer a bump offer of additional skincare products at the time of purchase.
Just before the customer completes their purchase, the brand could offer a pre-checkout offer of a higher-priced skincare kit.
After the customer has made their purchase, the brand could offer a backend offer of additional skincare products or higher-priced variations of the products or services as the customer's skincare routine progresses.
Remember, until the customer says no, you want to keep selling them something to increase your AOV (Average Order Value)
5. Private Labelling:
This is a type of marketing strategy that involves a brand creating products and then selling them to other companies, who then sell the products under their own brand name.
This can be a way for a brand to increase its revenue by selling products to other companies, while also allowing those companies to benefit from the brand's expertise in product development.
6. Referral Rewards:
This is a type of marketing strategy that rewards customers for referring friends or family to a brand.
Customers can earn rewards, such as discounts or free products, for each referral they make.
This could be done by offering a discount code/coupon to customers to track each referral they make.
The brand could also offer a free product to customers for every 3 referrals they make.
This is an effective way to turn loyal customers into advocates and promoters of your brand while incentivizing their efforts.
7. Distribution Network:
This is a type of marketing strategy that involves establishing a network of retailers or distributors to sell a brand's products.
This can help your brand reach a wider audience and increase your sales.
An example of how you could use this is by partnering with retailers, such as department stores or specialty beauty stores, to sell their products.
You can also work with distributors to distribute your products to a wider range of retailers.
This distributors can run their own advertising and you make deliveries and in turn offer them commissions for sales they generate.
Remember, sales is a numbers game.
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