Successful Marketing Strategies.

Source: Digital Marketing Agency

The economic principle I’m exploring is “People generally respond to incentives in predictable ways”

My research question to help me study the economic principle is “What type of marketing creates a direct response?” The Weidert Group, a marketing agency published the article, “Top 10 Most Effective Marketing Strategies” by Vicki Woschnick demonstrates this economic principle by explaining various successful marketing strategies such as cause marketing, internet marketing and paid media advertising.

To start off, there are many different marketing strategies that companies use and one of them is Cause marketing. Cause marketing is a marketing method that guarantees the consumer that the company has their same values. For example, a company that publicly supports a nonprofit charity or a social cause would be cause marketing. According to Vicki Woschnick and the Weidert Group Marketing firm, “When choosing between comparable brands, 90% of U.S. shoppers are likely to switch to a cause-branded product.” This illustrates that Cause marketing is an effective marketing method because a customer buys both the product and brand with every purchase. I think that cause marketing is a creative way to advertise because many consumers might not realize a company supporting a cause is a marketing strategy.

 Another marketing strategy that is very effective is Internet marketing which has become more popular today. Vicki Woschnick states, “online marketing, combines web and email to advertise and drive e-commerce sales. Social media platforms may also be included to leverage brand presence and promote products and services.” In other words, Internet marketing is a wide variety of marketing the allows companies to easily spread their ads in a quick period of time. This method is predicted to generate over $4 trillion by 2021 which demonstrates its success. I think internet marking is going to become even more popular than it already is because older fashioned companies will realize they will not be able to earn the same profits unless they advertise online.

 Paid media marketing is the third strategy that has displayed a direct response from consumers. Vicki Woschnick explains how paid media marketing works by stating, “a company buys or ‘sponsors’ a link that appears as an ad in search engine results when keywords related to their product or service are searched (this process is commonly known as search engine marketing, or SEM)” In other words, these are the ads that appear on a consumer’s device based on their search history. The Weidert Group claimed 65% of consumers will click on a paid ad, therefore the direct response if very common. I think that paid media is a topic consumers talk about which promotes even more advertisements. Even though the conversations are usually negative, the method is still effective because more than half of the people actually click on the ad.


In my next blog post I will research the question: How do social media influencers impact marketing?