Marketing is essential for business growth through engaging customers with brands. The purpose of marketing is to create a strong brand image to increase sales of the business. It is not possible to attract new customers without the correct tactics of marketing.
Common Periods Of Marketing
The concept of marketing has been existing for ages in different forms. In the beginning the concept of production orientation appeared, then the selling orientation, now marketing and social marketing are leading in the business world.
The oldest philosophy that was produced between the era of 1860s to the 1930she main focus of this concept was to focus on manufacturing and production efficiency. It says supply creates demand, meaning if the product is developed then somebody will buy it certainly. More focus to do the technical related research rather than the customer-related.
The concept of selling orientation came during the 1890s that focus was on door-to-door selling. It was introduced in the great depression throughout the world. It focuses on aggressive selling to push products to accept every order by the customer, and focus on transactions rather than a customer relationship.
The concept of marketing was introduced in the 1950s that prioritize customer’s needs, wants, and behavior. Every activity is done to intune with the customer, such as advertising, pricing, product management, and sales. New product development is dependent on market requirements and product demand in the target potential customers. Businesses are following social marketing concepts in current situations that focus more on the social responsibility to grab the attention of the customer.
Steps To Follow For Marketing
There are essential steps to follow to create impactful marketing strategies. According to successful marketers, these steps are helpful to establish a productive plan:
- Conduct proper market research
- Identify your target customers
- Find out the unique selling point of the brand
- Establish the business brand
- Select the marketing avenues
- Plan your aims and budget
- Engage your loyal customers
- Keep an eye on to review
Conduct Proper Market Research
The key part of creating any marketing strategy for the business is to conduct research. It is all about gathering information regarding the customer’s buying behavior, location, desires, and other things. Proper research helps in different areas of business like a sales forecast, set market trend, and competitor behavior. To know about the competitors you can use the Wikipedia platform for authentic information, as professional Wikipedia editors follow the strict guidelines of this encyclopedia.
Identify Your Target Customers
It is essential to know about the target audience to promote the product. If the customer segment is not specific, it will end up with a failed marketing strategy.To create the segment from your potential customers you should divide them according to mentioned factors:
- Behavior (readiness to buy, usage rates, loyalty, attitude)
- Social class
- Personality and lifestyle
- Demographics (education level, income, occupation, age, gender)
Find Out The Unique Selling Point Of The Brand
Every brand has its unique selling point through that reason they attract customers. It is the quality that makes your business different from another. Therefore it is crucial to explain the differentiation point to the target customers to grab their attention. You should follow the mentioned aspects to know the brand’s USP:
- Most favorite product and service of the brand
- Special knowledge and expertise of the brand
- Aspects to attract customer to the brand rather than the competition
- Role of the product for customer need
Establish The Business Brand
A brand is not all about the logo, tagline, or color. It creates an emotional connection with the customers to convey your identity. Regardless of the size, the brand defines how it can facilitate its customer through delivering value.
Select The Marketing Avenues
Marketing avenues are an important decision to take, you should know the preference of your target audience. There are lots of options to use like social media, blogging, flyers, websites, brochures, banners, advertising, letter drops, word of mouth, events, and conferences.
Plan Your Aims And Budget
This is one of the most important steps while creating a marketing strategy, it helps to define what you want to achieve through the strategy. Be mindful to create the goals by following the SMART rule that says specific, measurable, attainable, relevant, and time-based. Additionally, you should find out the budget you have for each marketing activity to avoid mishaps among activities.
Engage Your Loyal Customers
Consider the customer as a top priority to have a successful business. Make efforts to make your customers loyal to your brand, it will help you to keep your customer with you for a longer period. You can follow the consistent communication strategy to be connected with them through social sites, news, and other ways.
Indeed, the purpose of each marketing strategy is to increase business sales and revenue. so follow the appropriate methods and be mindful to monitor regularly. If you keep reviewing your marketing strategy after implementation then you can find the new tactics that can be effective for the next ones.