Why fortune 500 companies need to think outside of the box when it comes to their marketing strategies in 2023

In today’s fast-paced business environment, companies are constantly looking for ways to stay ahead of the competition and gain a competitive edge. One area that is particularly important is marketing, as it can have a significant impact on a company’s bottom line.

Unfortunately, many companies, particularly Fortune 500 companies, tend to rely on traditional marketing strategies that may no longer be effective in today’s market. In order to stay competitive and achieve success, these companies need to think outside of the box when it comes to their marketing strategies.

Thinking Outside The Marketing Box

One of the reasons why traditional marketing strategies may no longer be effective is that the world has changed significantly in recent years. The rise of the internet and social media has dramatically changed the way that consumers interact with businesses and has created new opportunities for companies to reach their target audience.

However, many companies are still using traditional marketing methods such as print ads, billboards, and television commercials. These methods may be costly, and they may not be reaching the target audience effectively.

Another reason why traditional marketing strategies may no longer be effective is that consumers have become savvier and are less likely to be swayed by traditional marketing tactics. They are more likely to research products and services online before making a purchase, and they are more likely to be influenced by the opinions of their peers. This means that companies need to find new ways to connect with their target audience and build trust with them. Oh my!

So let’s get down to it, here are a few ways you can think outside of the traditional marketing box to effectively market your company’s products and services.

Digital Marketing

You guessed it, the good-old digital marketing strategy and execution. Well, Brad, this doesn’t seem like it’s too far outside of the box, everyone markets their products and services digitally. If that’s you, you’re partly correct. Yes, most people do take on some shape or form of digital marketing, however, these attempts at digital marketing are rarely effective.

One way for companies to think outside of the box when it comes to their marketing strategies is to focus on proper digital marketing. This means you have an all-encompassing Marketing Strategy that governs each part of your Digitial Marketing campaigns. This will greatly increase your impact, drive sales, and lower the overall cost. You’d be surprised to learn how many Fortune 500 companies and large enterprise businesses lack a centralized marketing strategy, here’s a hint – its a lot! The more C-suite CMOs I talk to, the more I find. But I digress.

Here are 10 examples of thinking outside of the box when it comes to digital marketing strategies:

1. Gamification: Companies can use gamification techniques to make their digital marketing more engaging and interactive. This can include creating games, challenges, and quizzes that are related to the company’s products or services.
2. Artificial intelligence: Companies can use artificial intelligence (AI) to optimize their digital marketing campaigns, personalize their messaging, and improve customer engagement.
3. Interactive videos: Instead of traditional videos, companies can create interactive videos that allow viewers to click on different elements within the video to learn more about a product or service.
4. Chatbots: Companies can use chatbots to provide customer service and support on their website and social media channels. This can help to improve customer satisfaction and increase engagement.
5. Voice search optimization: With the rise of voice assistants such as Amazon Alexa and Google Home, companies can optimize their digital marketing strategies for voice search to improve their visibility and reach.
6. Live streaming: Companies can use live streaming to share behind-the-scenes content, product demos, and Q&A sessions with their audience. This can help to build a community around the brand and increase engagement.
7. Social media influencers: We’ll talk about this below, but companies can collaborate with social media influencers to promote their products or services to a wider audience. This can help to build brand awareness and generate buzz around the company.
8. Dynamic retargeting: Companies can use dynamic retargeting to personalize their ads based on the user’s browsing history and behavior instead of static retargeting ads. This can help to improve the effectiveness of the company’s retargeting campaigns.
9. Augmented reality: Companies can use augmented reality (AR) to provide their audience a unique and interactive experience. For example, a furniture company can use AR to allow customers to visualize how a piece of furniture would look in their home.
10. Geo-targeting: Companies can use geo-targeting to deliver targeted messages and offers to customers based on their location. For example, a restaurant can use geo-targeting to offer a discount to customers within a certain radius of the restaurant.

It’s no secret that Digital marketing is a cost-effective way to reach a large audience and can be tailored to specific demographics. For example, companies can use search engine optimization to improve their search engine rankings, social media marketing to connect with their target audience, and email marketing to stay in touch with customers. By using digital marketing methods, companies can reach their target audience more effectively and at a lower cost than traditional marketing methods.

Up Your Content Marketing Game

Wow, what a concept. Yet, this doesn’t seem too far outside the box either, and you’d be right to think that. However, a well-tailored content marketing strategy can put you miles ahead of your competition and can allow you to have your brand represented across a wide array of product search variables and earn the right to rank amongst your competition.

Here are 10 examples of thinking outside of the box when it comes to content marketing strategies:

1. Interactive content: Companies can create interactive content such as quizzes, polls, and surveys to engage their audience and increase their time spent on the website.
2. User-generated content: Companies can encourage their audience to create and share content, such as photos and videos, on social media using a branded hashtag. This can help to build a community around the brand and generate valuable user-generated content.
3. Personalization: Companies can use data and analytics to personalize the content served to their audience. This can include personalized product recommendations, personalized email newsletters, and personalized landing pages.
4. Long-form content: Instead of focusing on short-form content such as blog posts, companies can invest in creating long-form content such as e-books, white papers, and case studies. This can help to establish the company as a thought leader and create valuable lead magnets.
5. Immersive experiences: Companies can create immersive experiences such as virtual reality (VR) or augmented reality (AR) to provide a unique and engaging experience for their audience. This can help to generate buzz and create a lasting impression.
6. Brand storytelling: Companies can use storytelling techniques to create compelling narratives around their brand and products. This can help to build an emotional connection with the audience and differentiate the brand from competitors.
7. Podcasts: Companies can create podcasts to share industry insights, interview with thought leaders, and other valuable content. This can help to build a loyal following and establish the company as a reputable source of information.
8. Webinars: Companies can host webinars to educate their audience on topics related to their products or services. This can help to generate leads and establish the company as a thought leader in the industry.
9. Influencer collaborations: Companies can collaborate with influencers to create relevant content to their audience. This can help to reach new audiences and increase engagement.
10. Infographics: Companies can create infographics to share valuable data and insights in a visually appealing format. This can help to make complex information more accessible and engaging for the audience.

A solid method for companies to think outside of the box regarding their marketing strategies is to focus on content marketing. Content marketing is a strategy that involves creating valuable and relevant content that will attract and engage a target audience. This can include blog posts, videos, infographics, and more. By providing valuable content to their target audience, companies can build trust and establish themselves as reputable source of information in their industry.

Influencer Marketing

We’ve all seen it on TikTok, Instagram, Facebook, and Twitter; influencers are everywhere. A super reliable method for companies to think outside the box regarding their marketing strategies is to focus on influencer marketing. Influencer marketing is a strategy that involves partnering with individuals who have a large following and influence on social media. These individuals can help to promote a company’s products or services to their followers, which can be a powerful way to reach a large audience.

Here are some additional examples of thinking outside of the box when it comes to influencer marketing:

1. Micro-influencers: Instead of working with high-profile influencers with millions of followers, companies can work with micro-influencers with smaller followers but a highly engaged audience. Micro-influencers can be more cost-effective and can help companies reach niche audiences. There are many different types of Micro-influencer companies (GRIN, for example) you can work with, but its best to let your marketing executioner handle this for you.
2. Employee advocacy: Companies can encourage their employees to become brand advocates by sharing their experiences with the company on social media. This can help to build trust and credibility with potential customers.
3. User-generated content: Companies can encourage customers to create and share content related to their products or services. This can include photos, videos, and reviews, which can be shared on social media and other channels.
4. Sponsored events: Companies can sponsor events relevant to their target audience, such as music festivals or sports events. They can work with influencers to promote the event and generate buzz on social media.
5. Collaborations with non-traditional influencers: Instead of working with traditional influencers such as celebrities or social media influencers, companies can collaborate with non-traditional influencers such as artists, musicians, or chefs. These influencers can help to reach a new audience and create unique content.
6. Branded content: Companies can create content to be shared on social media. This can include videos, infographics, and other content designed to be informative and engaging.
7. Gamification: Companies can create games or challenges designed to engage their audience and encourage them to share the content on social media. This can help to generate buzz and build brand awareness.
8. Influencer takeovers: Companies can invite influencers to take over their social media accounts for a day or a week. This can help to bring fresh content to the company’s social media channels and generate buzz among the influencer’s followers.
9. Social media contests: Companies can run contests on social media that are designed to encourage user-generated content and engagement. This can include photo contests, video contests, or other types of contests that are relevant to the company’s products or services.
10. Influencer co-creation: Companies can collaborate with influencers to create new products or services to appeal to their target audience. This can help to create a unique value proposition and differentiate the company from competitors.

Finally, companies can think outside the box regarding their marketing strategies by focusing on experiential marketing. Experiential marketing is a strategy that involves creating an immersive experience for customers. This can include pop-up shops, product demonstrations, and other interactive activities.

By creating an immersive experience, companies can connect with their target audience on a deeper level and create a lasting impression.

In conclusion

Companies, particularly Fortune 500 companies, need to think outside the box regarding their marketing strategies to stay competitive and succeed in today’s market. Traditional marketing methods may no longer be effective, and companies must find new ways to connect with their target audience and build trust with them. By focusing on digital marketing, content marketing, influencer marketing, and experiential marketing, companies can create effective marketing strategies that will help them to reach their target audience more effectively and at a lower cost than traditional marketing methods.