So what is Marketing?
The function of the Marketing department is to generate leads for the Sales department to convert into clients or customers.
Marketing is expressing to consumers why they should choose your products or services over your competitors’ products or services. Essentially, it’s creating brand awareness, generating leads and building relationships.
Marketing should be considered one of the most important functions of your business. It doesn’t matter how good your product or service is if nobody knows about it. Visibility is sometimes more important than ability.
People typically need exposure to something 7-21 times before they’ll buy. You must invest in marketing activities in order to attract and acquire customers.
For this reason, businesses must deliver a range of marketing strategies constantly and consistently to build awareness and credibility. It’s important to continue to delight your customers to improve customer retention.
Measuring and analysing the effectiveness of your marketing channels and activities allows you to optimise and plan for constant improvement.
Outbound marketing involves using one-way communication to interrupt a wide audience, with the intention that people in the target market will hear the message and respond. This can be costly and has a poor return due to modern technology where the audience can switch off. E.g. TV and radio advertising, print advertising, telemarketing, and direct mail.
Inbound marketing is a more effective way of generating and converting leads than outbound marketing as it focuses on pulling an audience in rather than going out to get their attention. It involves attracting your target market with technology – providing your audience with interesting content, interacting with them on social media, and being found easily on the internet.
Direct marketing targets a certain demographic for making sales at that time. For example, TV and radio advertising, magazine advertising, email campaigns, sponsored ads on social media, etc.
Indirect marketing aims to establish a business as an expert in its field and build a following that will convert to sales over time, e.g. blogs, newsletters, etc.
It’s important to include a mix of active and passive marketing in your Marketing Plan.
Active marketing involves undertaking practical activities to connect and engage with your target market. For example, networking, seminars, workshops, phone calls, webinars, etc.
Passive marketing involves undertaking marketing activities and sitting back and waiting for customers and prospective customers to respond. For example, blog posts, social media posts, newsletters, etc.
In our next blog we will be writing more about building your brand – which isn’t just your logo.
Please do get in touch if you would like to find out more about how we can help your business.
Last month we wrote about Successful selling, you can read the blog here.