What is Marketing?
There are variations when defining what Marketing because it is so BROAD, but in this blog, we’re defining Marketing as creating, communicating, capturing and sustaining value for your organization or company. It’s a need that every business must have to foster growth and better yet, value.
Why does my company/organization need Marketing?
1. Capture the attention of your target market
2. Facilitate your target market’s purchasing decision
3. And bottom line, it is the cornerstone of every successful business
The first step in Marketing your business is developing a Marketing Plan. Consider this your guide to understanding your businesses’ goals, objectives, target audience, etc. This plan will allow you to create strategic ways that resonate with your target audience and set you apart from the others.
In developing a Marketing Plan consider these components:
A. Situation Analysis– This is your company/organization’s current situation. What is your company about? where do you stand financially? what are your goals? Who are your competitors?
B. Target Market- Who are you trying to reach? What do they value? What are their needs?
C. Action Plan-How are you going to reach your target audience? What marketing strategies are you going to implement to help you reach them, grab their attention, influence their decision in using your product or services?
D. Evaluation Plan– Once you have created and implemented your strategy, monitor its effectiveness and make any adjustments required to maintain its success.
Example: (Short version of course)
• My goal is lose 10lbs in 30 days.
• My strategy to lose the 10lbs is to work out 5x a week and
Cut out all carbs.
• My evaluation plan is to create a journal of my daily intake and workouts. Every Sunday throughout the month, I’ll weigh myself, write it down in my journal and track the progression of my weight loss
Marketing Strategy: Your strategy is how you’re going to accomplish the goals in your plan. Your strategy promotes and communicates the benefits of your business. What differentiates your company from your competitors. Basic examples below.
A. Social Media Marketing– Free platforms that millions of people utilize each day. Develop a social media plan that targets your audience.
B. Advertisement – Paid Ad placement
C. Creative Content – Story telling through graphics and video’s, infomercials,
D. Public Relations (PR)- News stories, blog write-ups, interviews in publications, on radio & television about your company/organization.
E. Effective Blogging- This strategy has so much impact if used to its fullest capacity.
F. Leverage Influencers– Influencers are people who have a voice in the market you’re trying to reach. Use their platforms to communicate your message. Some companies create what we call “Brand Ambassador Programs”.
G. Partnering with a charity or non-profit. This is considered cause-related marketing. It allows your company/organization to become visible to the public in a positive light.
H. Cross Marketing/ Cross Promoting- Partnering with companies that share the same vision but are in two different lanes.
I can go on and on about strategic marketing. It’s about being creative, innovative, and strategic. Put yourself in your consumers shoes, how would you like to be pitched? What are some things you would appreciate and like, if you were on the other side? Remember this, Branding is the foundation, and Marketing is the core!
My next couple of blogs will directly highlight in detail some of these marketing strategies from point A-Z, starting with Social Media Marketing- one of the most powerful marketing tools known in this era of technology.
Nina Zavala Group