Social Media Marketing, Social Media Strategy & Social Media Services

March 27, 2017

What You Don’t Know About Marketing

 

 

marketing channels

 

Have you gone to the search engine and typed in ‘marketing’ lately? How many results do you get? I got 2,340,000,000! This many people claim that they are experts or provide marketing services. Talk about saturation of the market and what marketing REALLY means.

Marketing Analysis Marketing Tactics

I remember when I was working with two of my favorite international companies and training their team in-house. I asked if they knew what the term ‘marketing’ really meant. They said, “The activities that you do in order to promote a product/service.” Boy they were off the boat on this one! Marketing is more about analysis and seeking out a strategy. Tactics are just fun ways of carrying out the analysis and thestrategy. They usually consist of advertising, promotion, email marketing and even social media.

The Satisfaction of the Consumer…Is It Important?

When I mentioned analysis above, what I really meant was getting to know your ideal customer. Who are they? Can you segment them into specifics? If you can, that means the analysis is really thorough. If not, lets go back to the drawing board. You need to understand what your customer is motivated by, and how they emotionally behave as well. Do they have emotional triggers?  What is their favorite color? Sports? Hobbies? How old are they? This is when we go into segmenting and proper targeting. Without this information about your ideal customer, you are just blowing money on marketing tactics. Please don’t fall in the blind marketing trap…it will do a number on your wallet.

The Competition: Are You Ready for the Dog-Eat-Dog World?

No one said it was going to be easy out there. That is why it is vital to learn who your competitors are.  Once you have gathered a list, do some more research on them, and try to come up with a value proposition for your company.  You must know what your competitors’ objectives are, the reactions they are getting from the market, and how you can do it better! In my industry I am constantly doingcompetitor analysis, but are my competitors in the Internet world doing the same? It doesn’t seem like it. Most companies act as though they are monopolies, and there is no competition. This can totally play a number on their business when it comes to long-term success 

Is Your Company a Survivor in the Market?

In order to satisfy the customers what other items need to be checked and in place? For example, the items that matter include:  sales, business strategy, your relationship with the employees or distributors, and the suppliers, etc. When it comes to knocking out your competition, you have to make sure there is harmony between all the components that lead to the end product. This comes when you realize your company’s weaknesses and fix them right off the bat.

Now can we all agree that marketing is about the competition, analysis, and the customer? Not to mention, your own company and evaluating the weaknesses and strengths that will help you determine powerful segments to target. Which segments will lead you to have the largest ROI? How are you going to position the products? What about the mind share and delivering process?

After you have your strategy in place, you will have to discuss with the team, how you want the message delivered. Finally, this is where you can decide on the tactics and the most efficient way to carry out the tactics. Remember to track and analyze every activity to determine which tactic or tactics gave you the largest ROI. For example, sports players strategize their game prior to playing. If they didn’t would they perform as well? Probably not! The same goes for marketing. When there is strategy and analysis in place, everything will run smoothly. Use these tips and subscribe to our blog if you want to become a MARKETING GENIUS!

 

What are your thoughts folks? If you love this article, then click here suscribe now!

 
Share on Facebook

Speak Your Mind

*