How to do marketing the right way, investing to generate results?
Surely you have already wondered, right?
Well, you are not the only one who has that dilemma.
Although marketing is a key piece for the sustainable growth of a company, whether it works in B2B or B2C, it is not a task to which the entrepreneur is accustomed.
We know that marketing and sales are related.
The problem usually lies in finding the recipe that leads the first to affect the second.
But that challenge begins to be overcome from now on. In this article I am going to introduce you to everything related to marketing.
I am going to explain the concept to you, talk about its types and give you valuable advice so that you can build a winning strategy.
Without wasting any more time, take the opportunity right now to expand your knowledge.
What is marketing?
Marketing is a set of actions whose objective is to generate visibility.
With these actions, companies and brands benefit, as well as their respective products and services.
It is a process by which an audience is reached and encouraged to choose, even if it is not at that precise moment.
Marketing often translates into the simple presence of a brand in the consumer’s mind. Thus, when the need to purchase arises, the public will remember it with priority.
As you can see, all this is reflected in sales, but not only in that part.
Marketing is also related to the reputation of a company, its credibility in the market and the authority it has in what it sets out to do.
In this way, marketing materializes in everything that the consumer finds in relation to your business.
This ranges from your advertising campaigns, the attention they receive and what they hear about your business on the various channels, both online and offline.
Philip Kotler’s 4 Ps of Marketing
You must have heard someone say that marketing is simply “putting the right product, in the right place, at the right price, and at the right time.”
However, although it seems easy, a lot of work is necessary to achieve a certain result.
This effort usually focuses on the so-called marketing mix.
It is a crucial tool to help you understand what your product or service can offer, as well as planning a successful offer.
It is executed more frequently through the 4 Ps of marketing that are: product, price, promotion and place.
The concept is widely touted as a successful strategy and was created by the great marketer, Philip Kotler.
Don’t you know what it’s about?
I’m going to explain it to you right now.
The product refers to a tangible good or an intangible service that manages to satisfy a specific need or demand of the customer.
All products have their own logical life cycle.
It is vital that the marketer understand and plan the various stages of that cycle and try to overcome the challenges that each of them represents.
To this end, you have to understand the problems that your product can solve, in addition to the benefits it offers.
Likewise, potential buyers of the product must be identified.
In other words, defining your personas is an important step at that time.
Basically, the P for price refers to the real value that the end customer must pay for the product or service.
The price of the product directly affects the way it is sold.
It is also more directly related to added value than to actual cost.
Important: If your product is priced higher than its perceived value, it will probably not be salable.
That is why it is essential to understand how a customer perceives what you sell.
It is worth remembering that the price can also be affected by distribution plans, value chain costs, and obviously, according to the value that the competition charges for the rival product.
With a product ready and its respective price, it was time to promote it.
The P for promotion encompasses all communication strategies and tactics defined by the marketing team.
Therefore, it includes elements such as: advertising, public relations, social media marketing, email marketing, search engine marketing, video marketing, and much more.
Each touchpoint must be supported by a well-positioned brand to maximize return on investment.
Keep in mind that you have to differentiate marketing from promotion.
Promotion is just the communication aspect of the entire marketing function.
Finally, the P for square relates to the way the product is going to be delivered to the customer.
Distribution is a key element in that part of the process.
The strategy helps to evaluate which communication channel is the most appropriate for a certain product.
When developing your marketing strategy, you need to clearly consider the product, price, location, and time.
Whether it’s a startup or an established business, balancing these four elements is essential for you to position yourself well in the market.
What are the marketing goals?
Marketing objectives are generally commercial and are related to the sale of products and services.
Thus, they are planned before the strategy and are in charge of defining what you want to accomplish.
Some common examples of marketing objectives follow:
• Increase the market share
• Raise brand awareness and customer engagement with it
• Guarantee customer satisfaction
• Retain and create a profitable relationship with customers
• Improve the distribution and promotion of the product / service
• Do more business
• Create differentiation and competitive advantage for the brand
Now that you know the most common objectives of marketing, it is time to learn more about its different types to prepare a strategy.
Some types of marketing
For companies to increase their market share and remain in a prominent place, they need to consider the types of marketing before defining their overall strategy.
Remember that each marketing strategy must communicate the benefits or characteristics of the product to a specific target audience.
The same is true when reporting a global value to your customers.
In many cases, this is the beginning of brand-equity building.
For example, Apple invests heavily in different marketing strategies that showcase its products in a unique way.
Persuade your customers to have an affinity with the brand and choose it over the competition.
So, take a look at the top types of marketing to see which one best applies to your business.
As the name itself indicates, direct marketing occurs when companies go directly to the customer, through an infinite number of channels, such as mail, email, telephone and also personally.
The messages can be easily identified, as they call for a specific action, such as “Call this toll free number” or “Click this link to sign up.”
The results of such campaigns are immediately measurable, since the company can track the number of customers who responded or interacted through a Call to Action (CTA), and even on the landing page, for example.
On the other hand, other types of advertising, such as an outdoor one that promotes a brand concept or the launch of a new product, can be displayed to the customer, without demanding an immediate response.
Therefore, it cannot be easily measured and it becomes difficult to know which ones are buying the product because of that advertising piece.
The fact is that the internet changed almost every aspect of our lives, mainly the way we interact with friends, family and also with brands like avocado oil buyers.
In this context, digital marketing arises with many different formats, but always offering interactive ways to connect with current customers and attract new consumers.
Businesses are turning their efforts to the virtual world because it is a significantly cheaper trend.
Many online advertising spaces are free to use.
For example, it is possible to create a YouTube channel or start a blog at no cost.
Even if it is invested in paid advertising, the value of digital marketing campaigns corresponds to a fraction of what would be spent on an advertising campaign on television.
In addition to that, the interactivity that the internet provides simplifies and increases a business’s ability to track, store, and analyze data on a customer’s demographics, personal preferences, and online behaviors.
With this information in hand, it is possible to provide a more personalized and relevant experience for the customer.
Simply put, content marketing involves the practice of creating and publishing fresh, relevant, and useful content, to naturally engage and engage your consumers in business.
Therefore, we can say that generally, quality content marketing is done from a soft-sell perspective.
In other words, it is not a tax sale, but a subtle one.
The interesting thing about soft-selling is investing time that allows you to discover what the customer really wants and to meet their needs.
The marketing strategy that uses informative content is a way of giving and receiving, in addition, it is capable of enchanting the audience.
In other words, it provides quality information that adds value to potential customers, in the hope of attracting them and increasing the chances of doing business.
In general, this content is presented in various ways, such as: blog posts, eBooks, infographics, whitepapers, social media posts, videos, newsletters, and more.
Personal marketing serves to help people improve their image and reputation to enhance their careers.
It focuses on creating an image around individuals, rather than a product.
It offers more opportunities to effectively communicate your values, skills, experiences to potential employers, which helps to significantly differentiate yourself from other professionals.
There are many strategies that can be used for that distinction.
For example, social networks allow you to set up profiles in which you show examples of your work, highlighting skills and abilities to recruiters.
Blogs represent a great opportunity to demonstrate your experience and authority in some matter, and even make it possible to comment with users about trends in the field in which you move.
On top of it all, professional conferences are great chances to connect with employers and make a good personal impression.
The main goal of relationship marketing is to create lasting relationships with customers.
Rather than trying to incentivize sales just once, this guy strives to promote customer loyalty by offering exemplary products and services.
That is why it is so important to carry out regular satisfaction surveys, to be able to find out what your customers think.
Don’t forget to incorporate the suggestions they give you into your business processes.
Conduct training with your team so that they know how to proceed in various situations, whether positive or negative.
Many customers stop buying because they did not like the product or because they were poorly served.
Technology also plays an important role in relationship marketing.
Thanks to the tools available today, personalized ads, special offers, and expedited service are offered as a sign of appreciation for customer loyalty.
The difference between marketing and advertising
At first glance, marketing and advertising seem to be different terms to describe the same activity.
However, although both contribute to meet the same end goal, they are different and each has its own process.
Understanding the difference between marketing and advertising helps simplify your customer acquisition strategy.
Marketing refers to the steps of preparing your product for the market.
This includes knowing how to understand who your potential customers are, what they want and expect to get from your product or service.
The colors, the logo and other visual elements of the design help the image of your product to suit the interests of the target audience.
It is marketing that defines your brand and attracts the market segment you want to cover.
Advertising is the process of promoting your product and service in the market.
In other words, it is proposed to spread the idea of what your company offers.
While marketing is the way to convince potential buyers that you have the right product for them, advertising is responsible for communicating and propagating that this product exists.
The sales cycle of the product in the market
The life cycle of the product describes the levels through which it passes from the moment it was projected, until it is withdrawn from the market.
Not all products reach that final level.
Some continue to grow and others increase their circulation, but then fall.
This cycle has four clearly differentiated levels, each with its own characteristics and meanings for each company and for each product.
Take a look at this:
1. Launch: survey, development and launch of the new product. It may be the most expensive tier in the cycle.
2. Growth: when sales are increasing exponentially and the company seeks to increase market share, conquer the preference of customers.
3. Maturity: sales may be at the highest level, but the growth rate begins to slow. It is the most competitive time of the cycle, since the competition can present similar products. It is important to consider any modification or improvement in the production process to obtain a competitive advantage.
4. Decline: it is the final level, when sales begin to decline, either because the market is saturated, or because consumers are changing by opting for a different type of product. Switching to cheaper methods can be a way out to face this situation, which is often unavoidable.
Whoever relies on digital marketing has the task ahead.
After all, online, it is much easier to converse with your audience, gain notoriety and arouse interest in what you offer.
It is time to use your site or blog to capture leads.
This can occur when inviting the visitor to subscribe to a newsletter, receive news by email. Download an e-book or enroll in a free course.
Work on the landing page for whatever action you want to take. This procedure increases the chances of selling.
Look at the three steps you must follow:
1. Choose your model: check out the high conversion options proven by tests.
2. Customize the page: edit texts, colors, images, as well as hide the elements you don’t need.
3. Publish: publish on the domain itself, without additional hosting costs.