Marketing is one of the key elements that will determine your success as a business owner. It is no longer enough to provide the goods or services that your customers need to survive in this world and compete successfully in today’s marketplace. Today, marketing is much more than creating awareness or presenting your product.
Marketing And Selling
Today, marketing is about selling a product, getting the word out to the target market, increasing customer loyalty, driving sales, maximizing returns, developing new market trends and making sure that all of the components of the plan work together to support the overall objectives of the company. If you are involved in the selling process, marketing research is key. Marketing research encompasses everything from market surveys to focus groups to spending analysis.
Marketing also includes SEO practices such as keyword research and link building. Keywords such as “tattoo ideas for you” and “Italian food near me” are a great way to lure in prospective consumers of a tattoo parlour and an Italian restaurant, respectively.
Developing your overall marketing strategy can take some time but it is important to first develop a concept that focuses on your company’s vision and mission. This concept should include both what you do currently and what your customers’ needs are. The focus should be on developing a product or service that solves a problem and provides something of value to customers. In this way, a coordinated marketing system will be developed.
Product Concept
Most marketers spend an exorbitant amount of time developing their product concept, doing market research and testing, and finally refining the concept. Marketers often fail to address a very important factor that directly impacts their sales: how they communicate the benefits of the products or services. Unfortunately, many marketers have a limited ability to communicate effectively, resulting in a lack of customer satisfaction. A poor marketing concept is a product concept that leaves your prospects unsure that they can get something out of purchasing your products or services. This can lead to lost sales and bad publicity.
Overcoming Marketing Myopia
One way to avoid marketing myopia is to develop a product concept that incorporates compelling information that your target market will find valuable. When consumers read articles or opinion pieces that focus on your industry, their interests become very clear. They can see how your solutions can solve their problems. Once they recognize how knowledgeable and experienced you are, this information becomes a powerful motivating force for them to purchase your products or services.
Another way to overcome marketing myopia is to focus on two broad marketing concepts: selling and advertising. Selling relates to your ability to effectively advertise your product. Advertising, on the other hand, relates to using various marketing techniques in order to reach a targeted audience. Properly implemented advertising and selling techniques can significantly increase the number of consumers who buy a product or service.
Marketing myopia can be overcome by implementing an integrated marketing communications strategy. A solid marketing communications plan should include strategic planning, periodic evaluation and measurement, and an analysis of your marketing results. A marketing communications plan is made up of four primary elements: your vision and mission statement, your offerings, your marketing strategies, and your methods for delivering your message. A marketing plan is most effective if it coordinates all of the marketing elements that will most effectively promote your product and services.
Elements Of Marketing Strategy
These four elements – vision and mission statement, offerings, marketing strategies, and methods for delivering your message – are the pillars of a sound marketing strategy. Marketing myopia prevents marketers from seeing what the market needs and wants. It prevents marketers from developing marketing concepts that will help them achieve their goals. This myopia is a serious setback to the viability of Internet marketing strategies.
The most promising approach to addressing this problem is to use a multi-dimensional marketing concept that incorporates comprehensive marketing strategies. Multi-dimensional marketing concepts build on established marketing concepts such as satisfied consumers, compelling copy, and a coordinated advertising and selling approach. Developing a multi-dimensional marketing concept that incorporates these concepts provides the flexibility to create a marketing concept that solves Internet marketing problems, such as unresponsive customers, and provides marketers with a complete solution for meeting the needs of their customers. In addition, a comprehensive multi-dimensional marketing concept can increase the profitability of any Internet-based business.
Satisfied consumers, hungry for more, are easily attracted to a new product or service. Satisfied customers can become repeat customers if the marketing concept that attracted them to the first product or service is successfully repeated with additional offers. However, convincing these consumers to become repeat customers requires strong, compelling copy that effectively communicates the benefits of the products and services offered. Once consumers have been sufficiently enticed, there is a strong need to develop a comprehensive advertising and selling approach to successfully persuade them to make a purchase.
Final Pieces Of Marketing Management
The final component that can help to meet this challenge is developing a comprehensive marketing management system. A robust marketing management system includes accurate demographic information, detailed market analysis, the identification of key issues and concerns, and the creation of tailored advertising and selling materials that effectively reach each individual customer. A robust marketing management system also includes the development of an effective sales and marketing development staff. These staff members are responsible for effectively nurturing new customers and selling existing customers on a regular basis.
Also read What Are the Factors That Constitute an Effective Marketing Strategy?
