When we think of marketing most people have it all wrong and then wonder why their marketing doesn’t work or at best attracts the wrong people. Marketing put simply, is the means by which we get our message out to a particular audience to compel them to buy our product or service. Marketing is the ability to meet the needs of your prospects where they are and achieve the outcomes they are looking for.
Marketing is a process by which we explore ideas that create and deliver value that meets the needs and wants of a particular segment of the general population. the targeted that segment of the population is the more likely your marketing is going to achieve the desired out comes. There are many elements to marketing that bring the awareness of your target market to your product or service.
Marketers quiet often market to other business, this is commonly known as “B2B Marketing” and is very popular especially when the telemarketing tactic of marketing is used. This is likely due to changes in legislation over recent years with the introduction a number of legislation’s around direct selling such as the “Do Not Call Register” which allows residential numbers to be listed of a register of numbers that marketer are not allowed to call or the “Direct Commerce Act” Which prevents businesses from sending electronic marketing messages, including phone calls in some cases, to non commercial email addresses and phone numbers.
Another form of marketing is Business to Consumer Marketing where by a business will market directly to the consumer or end user of a product or service. You might often hear this referred to as B2C Marketing. Depending on the product or service that is being marketed in this instance there is also another bunch of laws that marketers must be aware of when selling direct to the end consumer. These laws include things like: Australian Consumer Law (ACL), Direct Commerce Act. There is also various consumer laws that vary from state to state and industry to industry that you should be aware of.
Another element of marketing is that called “The Marketing Mix” which determines how a product or service is packaged and sold. This is often determined by the environment surrounding a particular product or service which is researched through market research. There is no point spending money developing a product or service and going to market if there is no need for that product or service, as the old saying goes “you can not sell ice to Eskimos”. By the way, if you every find a marketer or sales person that is capable of that, hold on to them because they are worth their weight in gold.
Once you have a clear picture of what it is you are selling and exactly who to (your target market or often referred to as an “Avatar”), then you must determine the best way in which to communicate your message to that target audience that will compel them to buy your product or service from you.
A marketing message regardless of how it is delivered must have the ability to compel an audience to take action. Any form of marketing that does anything else is merely noise and wasted money. It must therefore add value to the consumer. Consumers buy for the way it makes them feel. People buy people. Have you ever wondered why there are so many businesses selling the same thing? Why do we buy of one person and not another? Because we buy for the way it makes us feel and people buy people. I hear you saying “hang on there a minute Greg, I am price conscious, I buy purely based on price. What I would say to that is you are subconsciously buying because of the way it makes you feel. You buy on price rather than deal with the stress of missing something else that costs more and may meaning causing financial stress or result in you having to go without something else you really want. That is a feeling that is based in our nervous system that triggers a fight or flight response. But I digress, that is a topic for another day.
Marketing is largely perceived as creative but in fact there is a lot of psychology associated with marketing. Don’t believe me, next time you go to the supermarket take note of where everything is in the store and on the shelves. Why do you think bread, fruit and veg and all those things we are told are good for us are at the back of the store or on high or low shelves, whilst all the bad stuff, the stuff kids love is all at eye level? Take conscious look next time you go shopping it will transform your life, trust me. Watch how you suddenly become more aware of what you buy. Marketing is a very powerful tool when used correctly. Packaging, wording, tonality, positioning, they are all part of marketing that teams of people spend hours coming up with to convince you that you must have what it is they are offering. Yet marketing done right is based on relationships. Based on getting to know your prospects and building that know, like and trust factor. Especially when it comes to services, people now a days will buy from those that they know, like and trust. We are now living in an age where it is more important than ever for a business to know their consumer better then they know themselves. We as marketers and business owners much now know our customers needs, wants and demands better than they do if we are going to stay in business for the long haul. Business at the end of the day is not that hard. Find a need and meet that need, anyone can do that but it is in the messaging around that need and the way you communicate that need is how you will win in the game of business.
An important goal of marketing is propelling a company’s growth. This can only be achieved by attracting new customers and servicing those customers to such a level that not only do they keep coming back but they cant wait to tell others about you and what you offer, That is the ultimate form of marketing and the most cost effect. It is known as referral marketing which I may go into in a future blog. But for now just keep in mind that it costs 10 times more to find a new customer than it does to keep an existing one. Why would you risk loosing a client or customer, resulting you having to work 10 times hard to replace that customer. it is just not logical. Stop trying to reinvent the wheel.
There are a number of marketing strategies that one can use to attract their ideal client and there is a number of facts to consider when considering each strategy for your business. For example, there is no point marketing retirement living in an area where the population is predominantly under 30 or at a skate park because retirement is likely to be the furthest thing from their mind at that point.
The primary goal of any marketing should be to create value for both the customer and the company. By understanding the needs and desires of their target audience, companies can create products and services that meet those needs and provide value to the customer. At the same time, companies can benefit by generating revenue and building a loyal customer base.
Overall, marketing is a critical function for any company looking to succeed in a competitive marketplace. By understanding the needs and desires of their target audience and communicating the benefits of their products or services, companies can create value for both the customer and the company. It’s a WIN/WIN for eveyone when done right
