What is Marketing?

Overview

What is marketing and why should it matter for your stellar business?
Let’s agree. You know your business goals better than anyone.

Whether it’s the product itself or the day-to-day operations, your business is your baby.

But here’s the catch. There’s probably an area where you’re lacking, and that’s our good friend, MARKETING.

So, what is marketing and why does your business need one?

Concisely put, marketing is everything. It’s how businesses and consumers “sense” your business, telling customers what, how, and why.  In more complex definition, marketing involves lots of specialties, processes, and tools that can empower and promote your business.  

Marketing a business is a complex roller coaster. Ups and downs. Twists and turns. Does this overly used metaphor resonate with you? You’ve probably heard it time and time again. 

The point is – marketing isn’t easy. But it is easy to get off and calling it quits. 

And while there’s no marketing trick to rule them all, there are plenty of best practices and strategies to help you rock your business.


Types of Marketing

Your marketing strategies change depending on your target audience and industry. Here are a few types of marketing tactics that are best practice:

Sometimes the quickest way to generate awareness and sales is through advertising. Whether buying a billboard or running pay-per-click ads on Google, consider this type of marketing more of a supplemental strategy. 

Digital marketing encompasses online channels on the internet such as search engines, social media, email, and paid advertising to reach current and prospective clients. 

Content Marketing is where businesses create content to educate potential customers about products and services. This can be in the form of an infographic, blog, eBook, and more. 

Social Media can be an effective channel to generate awareness. You can use Social Media Marketing on platforms like LinkedIn, Facebook, Twitter, and Instagram to highlight the behind the scenes look into your brand. 


How Do I Create a Marketing Strategy?

To create an effective marketing strategy, break it down in to the following phases:

  • MAKE YOUR BRAND REMARKABLE
  • DEFINE YOUR TARGET AUDIENCE
  • RESEARCH YOUR COMPETITOR
  • CREATE BUYERS PERSONAS
  • DEVELOP A MESSAGE FRAMEWORK
  • AIM FOR PAIN
  • SHAKE UP THE FUNNEL & MARKETING CHANNEL
  • GOALS & SUCCESS
  • TRACK & OPTIMIZE

MARKETING READINESS CHECKLIST

Before you start your marketing, you’ll have to determine whether you’re ready to get started or not. Here’s a checklist to help through the process.

1. Make Your Brand Remarkable

Nothing’s worse than going into a competitive landscape with a brand that’s unremarkable. For your brand to stick out and stand up, it needs to have a wow factor. Everything from your business look and feel to the messaging matters.

2. Define Your Target Audience

Wherever and however you communicate with your intended audience is crucial to the foundation of your marketing blueprint.

Defining your audience provides tremendous value in creating authentic messaging that resonates beyond the brand.

3. Perform a Competitor Analysis

This is critical to establishing your business strategy and helps you make informed marketing decisions on what’s your next step. You’ll uncover market trends, strengths, and weaknesses of the competitors, learn strategies that can provide your brand with an advantage, and more.

4. Create Buyer Personas

Think of Buyer Personas as the SIM characters you created back when that was still a hip thing. A buyer persona represents a profile of your ideal customer. It’s used to help guide your marketing strategy to help tailor and narrow down your messaging and efforts. Depending on your target focus, you may have more than 1 buyer persona.

5. Develop a Message Framework

A Message Framework is purpose driven. It provides companies a strategic plan for how they can approach their marketing. Over time, as your company evolves, so should your Message Framework.

Determine how to best communicate your business to your target audience to increase brand awareness and foster brand loyalty. It helps you identify marketing messages and channels that will resonate best with your target audience. Messaging will help guide the voice of the brand on the website and in digital advertising.

6. Aim for Pain

When it comes to describing your products and services, we often get stuck on the features. Think batteries included or 1-Year Warranty. But does this really resonate with the client? No. The client cares about their needs, their wants, and there desires. Rather than focusing on the features, focus on the benefits and how it can help solve their pain points.

7. Shake Up The Sales & Marketing Funnel

Not every marketing channel is going to be the right marketing channel to bring prospects to your sales funnel experience. Using your buyer’s personas, think critically of the time and resources you have at hand to reach your prospects most effectively.

8. Define Goals & How You Measure Success

Marketing must fit into your overall business goals and they should be measurable. Consider:

– I want to increase website traffic by 50%

-I want 30 new leads

-I want to sell 100 products

Now that you have an understanding of the fundamentals, here are marketing strategy examples you can use.

9.Always Track and Optimize

Marketing is a balance of art and science. And even more importantly, it takes time. As your efforts evolve, it’s important to track campaign progress and always look for opportunities to improve.

Over time, you’ll see plenty of success stories. The downside is that sometimes, you have to be really patient.