How To Benefit From A Pull Marketing Strategy
When talking about marketing strategies it is important to understand the difference between pull and push marketing strategies. In addition to that, there is also ‘’push’’ and ‘’pull’’ traffic. Push marketing is trying to promote your product relevant to your audience, with channels like social media or Google Adwords. Although it is tough to reach your target audience without push marketing, a little creativity can go a long way in creating an effective pull marketing strategy. Pull marketing strategy will create a demand for your product or service and more likely give you loyal customers and followers.
Witch strategy you use will definitely have to be in line with your goals. Pull and push marketing differ in a way you approach your costumers. If you want to promote your product to a specific audience, it is best that you use pull marketing. With this strategy, you can sell a product that is in a niche market in the most efficient way.
The goal of pull marketing strategy is to create a need in customers and get them to come to you. That’s why it is called ‘’pull’’, you are in a way pulling your customers in, rather than pushing your product onto them. Long term, pull marketing creates loyal customers, while push marketing is a more short-term promotion.
Here are the main differences between push and pull marketing from Morningscore article;
‘’Push marketing:
In push marketing, you are trying to bring your products to your customers. Just as the name suggests, you are trying to push a particular product on your target audience. “So,” you ask, “when do I implement this push marketing?” Typically, businesses use “push” marketing in the following scenarios:
· When launching a new product
· When operating in a niche market
Pull marketing:
In pull marketing, however, things look a little different. Your customers know what they are looking for, and they often look for the benefits themselves. In this case, the user engages much more with the product pre-purchase, and goes out and searches information actively. This can, for example, be car dealers, lawyers, and products such as household appliances, beds, computer screens, etc. Businesses will use pull marketing:
· When the user knows what he or she is looking for
· When branding is of great importance’’
Pull marketing strategy creates an approach where customers seek out your product or service directly. There are several methods where you can implement a pull marketing strategy. Creating good content is the key to getting customers to take interest in your brand. Some of the methods you can use are social media networks, email marketing, get media coverage, create sales promotions and discounts.
Word of mouth is also important in pull marketing strategy. You want your audience to share their good experiences so that they become your brand ambassadors.
In a pull marketing strategy, the company runs marketing activities directly to their customers. When marketing efforts succeed, the customer goes directly to the retailer. After the direct demand from the customer is made, the company than stock its products.
Here is the example of an effective pull marketing strategy from the Corporate Finance Institute Article:
‘’Colin recently launched a new product — the Fanner 3000. After spending months in the hot weather of Hong Kong, Colin developed an innovative fan product that emits no sound, is priced competitively, is energy efficient, and is able to cool the room to a determined temperature.
To market his product, Colin decided to drive demand to the product through social media buzz, word of mouth, and media coverage. To be more specific, Colin ran several Facebook and Instagram advertisements, worked with YouTube influencers to create video promotions and got his product featured on a technology media coverage website. A week into the marketing activities, Colin’s phone starts ringing as retailers and distributors inquire about stocking the product at their stores.
Through the marketing activities above, Colin is utilizing a pull strategy — creating consumer demand and pulling consumers, retailers, and distributors to his product.’’
There are advantages and disadvantages to pull marketing strategies. Building brand loyalty with direct communication with your customers is the most effective for your brand. One of the good practices in pull marketing is the ability to test your product and getting feedback. That way you are saving money and making the best product for your customers in the end. When customers are actively seeking your product, it removes the pressure of creating perfect marketing communication.
However, there are also some disadvantages in pull marketing strategy. There needs to be a certain brand loyalty for it to really be the most effective, which is difficult to establish. Also, creating a high demand for your product is tricky when there is high competition so you have to have a good unique selling proposition. With all of this in mind, there are situations where pull marketing is going to work great for you and when it won’t be as effective. Whatever you do, you will have to adapt to your customer’s needs.
