Finding Your Feet With Fundamental Principles of Marketing
Looking for a well-crafted argument from a marketing agency about how indispensible agencies are to your marketing success? Best to move on. Sure, we’re fantastic at what we do, but that doesn’t mean you can’t power up your own marketing with some great ideas and a firm understanding of the fundamental principles of marketing.
So we’re not here to preach about the complexity of the marketing landscape. Any good business person knows that is true. What we’re here to do is provide a simple guide on basic marketing principles that you need to understand to build firm foundations for your own marketing success.
It starts with your audience
Modern marketing is about building conversations, but how can you have a conversation if you don’t know who you’re talking with? The audience is the foundation of every element of your marketing efforts. Great marketing isn’t about building messages you think resonate with your brand, it’s about building brand messages that resonate with your target audience.
Customer segmentation is one essential tool that can empower you to understand and build conversations that work for your audience. That means treating your audience not as one single unit, but understanding what makes them unique, and the elements of their lives which might drive the kind of message they want to receive.
You could have the greatest product in the world, but if you don’t know how to talk to your audience about it, you might as well be shouting at a wall.
Remember the 4 Ps
Understanding that marketing is built for an audience, not just built to impress your management, is a vital first step. But how do you build a marketing message that not only falls on welcoming ears, but pushes forward the goals of your brand? That’s where understanding the marketing mix comes in.
The marketing mix is a strategic marketing framework which guides how, when and why we market our products. It’s easily broken down and remembered with the four Ps.
Product – Understanding your own product or service is essential. This is all about knowing what you have to offer, what makes it unique, and how it meets customers’ needs.
Price – There’s no point trying to sell a Proton for the price of a Ferrari. Price is about looking beyond the simple profit point of your product to help understand its perceived value with your audience.
Place – Place is about understanding where your product or service should be sold, and just exactly how that should be delivered to your customers.
Promotion – The final P is about visibility. This is the amplification that goes along with your message, and understanding how to make that stand out with your target audience.
You need a SMART message
Marketing needs to be SMART. That means ensuring creatively crafted and strategically delivered marketing objectives. Luckily we’ve got an easily referenced solutions for that too! Hold your hesitation, it’s far easier to remember things with a handy acronym.
Specific – Lay out specific targets with clearly defined goals. That means ensuring the scope of your marketing objectives are clear from the very start.
Measurable – You need to be able to measure your success. This isn’t just important to measure your on-going achievements, it’s vital to demonstrate the ultimate benefits of your marketing efforts.
Achievable – Ambition is great, but setting out a goal to surpass Barack Obama’s social media following in your first month isn’t going to get you very far. Ensure your goals are achievable, and thus your positive results can be demonstrated.
Relevant – Marketing doesn’t not live in isolation. The marketing objectives you lay out should be relevant to your business goals, and relevant to your wider marketing efforts.
Timely – You need to understand when a particular marketing objective begins, and when it is set to end. This is crucial to evaluating the success of your efforts, as well as focussing your delivery to achieve that success.
It all works together
Whatever kind of marketing you embrace, whether that’s cutting edge virtual reality, simple but effective direct marketing, or some sort of out of this world multi-channel extravaganza, you need to weave all these considerations together.
Integrated marketing communication is about ensuring your brand message remains consistent across all your communication platforms. That’s more than just remembering to add in the logo in the corner of your adverts, it’s about being true to the core values of your business and the strategic understanding of your brand message in every communication you produce.
We framed it at the beginning, and we’ll frame it at the end – marketing is about building positive conversations. That means knowing what you want to discuss, who you want to discuss it with, and what the best place or method to hold that discussion might be. This isn’t about announcing what’s great about your brand, it’s about framing a conversation which encourages your audience to make that decision on their own.
If you want help building your conversation, Content Nation is home to a fantastic group of experts that know just how to do it. We’re not just SMART, we’re motivated. And we’re really rather good at holding the right conversations.