When you hear the words Marketing and Advertising, the first thing that probably comes into your mind is the Marketing Department of a Company. The reality however is that Marketing encompasses a much larger area of activities than just the Marketing department of a Company. Marketing, in fact, can be described as the process by which Businesses build a “market” around their product or service. Marketing is also used as a way for Companies to publicize their brands, as well as helping them develop new services, products, and/or market sectors.
Influencer Marketing is a form of Marketing that involves using an outside source to help boost your reputation and visibility in the marketplace. For example, there are many Influencers in our society today that can help Market your Company. For example, many music artists use an agent to handle the deals and contracts for their next album. Retailers use Influencer Marketing when releasing new lines of clothing or lines of merchandise. Even movie producers use a Hollywood personality to promote a film that they are producing or trying to get viewers to pay to watch. Music artists can use an artist’s voice to create a viral video that will reach millions of people all over the world in seconds.
Branding Marketing is the act of creating, communicating, and delivering offerings to a specific, targeted consumer base. While most Companies would prefer to engage in Branding Marketing by launching a Television commercial, launching an Internet site, or publishing a brochure, the reality is that it is rarely cost effective to engage in Branding Marketing on these large scale. Therefore, most Companies prefer to create personalized, more targeted advertising through various marketing research techniques.
Direct Marketing through mail, cellular phone, television, and the Internet has been very effective in reaching a targeted audience. However, direct marketing does not work well if the consumer does not know where to receive the marketing communication. For example, many consumers would receive a marketing communication about a new product but would not know where to purchase the product. If the consumer does not receive the marketing communication at the address they registered at the website, the consumer is wasted and does not have a reason to purchase anything. Direct marketing should be limited to one-to-one contact such as a phone call, email, or brochure. This allows for optimal results and optimized consumer exposure.
Persuasion Marketing is a combination of two of the four Ps: Providing value, making an offer, and asking for an exchange of that value for something different or additional value. This is the process by which a Company creates and employs an advertising campaign aimed at gaining market share through Persuasion Marketing. The Company must determine who their target customers are, how they think, what their needs are, what they want, and how much they are willing to spend in order to satisfy those needs. Once these factors are determined, the Company can begin its search for ways in which to reach the public and create offerings that will meet those needs.
Social Media Marketing is using social media sites, such as Facebook and Twitter, to disseminate information to target consumers via advertising that is targeted to them. Marketing through social media provides a brand with a way in which to create an experience for consumers in a subtle but powerful manner. Consumers tend to remember businesses that engage them in conversations, and social media provides this opportunity through an expanded awareness and connection to a Company through the sharing of that experience. This form of marketing has been successful in delivering innovative offers to consumers and helping to increase brand awareness.
Tracking Marketing A tracking system is typically incorporated into a Marketing Plan so that a Company can measure, test, and analyze the performance of the marketing campaigns it has conducted. Tracking results provides the Company with valuable insight into the consumer experience and helps it to make changes if necessary to continue to be successful. It also helps ensure that the effectiveness of the advertising campaigns being used continues to meet the consumer’s needs and desires. Companies that choose to track their Marketing campaigns can use the information they gather to make strategic decisions to expand their offerings or to determine why a particular campaign is having a positive impact or not. The data provided by the tracking system helps the Company to implement effective strategies that meet the needs and desires of the current consumer.
Relationship Marketing Develops a close relationship with a consumer allows a Company to offer them more than what they could get from an advertising or promotional medium. The close relationship allows a Company to build loyalty among consumers by offering them something of real value that they can use. When a consumer spends money with a Company, they are demonstrating a level of trust and faith in that Company and their products or services. Marketing through a relationship marketing strategy enables a Company to enhance that trust and faith through enhanced consumer retention and purchase processes. In today’s market, developing a relationship with a consumer can mean the difference between a successful marketing plan and one that are less successful.