What do you think of when you hear the words “Marketing” or “Advertising”? Most business owners think that marketing and advertising are synonyms. Although they are similar they are not the same. According to businessdictionary.com “Marketing” is the process through which goods and services move from concept to customer. Meaning you have an idea to create a product or service (concept) and marketing is how you get it to your customer.
Marketing includes the coordination of the 4 P’s.
Product- What item or service you will provide.
Price- How much your customer will pay
Place- How you will distribute your product/service
Promotion- Creation & execution of a plan to publicize your product/service
In short marketing is creating a process of how you will introduce your product to the marketplace. Marketing involves, among other things, identifying you target customer and creating your brand strategy. Once you have completed this you can move forward with the 4 P’s. This will be the building bricks of your marketing strategy.
Advertising should be a key part of your marketing strategy, but it is not the same. According to businessdictionary.com “Advertising” is the activity or profession of producing the information for promoting the sale of products or services. In short advertising is the act of making your products and services known to the market place. All advertising should be done with your target audience in mind. Advertising can be done in a variety of ways.
So how do you market your product and service effectively?
Identify your target customer- What are their likes and dislikes? What problems are you solving for them? Why would they choose to spend their hard earned money with you? These are a few questions you must ask when creating your customer profile. Your marketing plan should include a comprehensive customer profile. Any marketing and/or advertising should be done with your target in mind.
Create a brand vision- What is your brand mission or purpose? When thinking of your brand focus the feeling you want your customer to have before and after a transaction is made.
Create a detailed marketing plan- If you are unsure of how this is done Speak Woman can help. A marketing plan is a step-by-step guide of how you will plan to promote your product/service. Your marketing plan should include measurable goals allowing you to track your progress.
Get busy being productive- As a business owner it is easy to be busy, but the question to ask yourself is AM I PRODUCING ANYTHING! This is where your marketing action plan will play a big part. You can refer back to the measurable goals you’ve created to see if you are still on track. Don’t be discouraged if you have to edit your goals along the way!
Get an accountability partner- An accountability partner is someone who can hold you responsible for the goals that you have created. They can offer motivation through the tough times and celebrate your wins.
Reward yourself- Once you have accomplished your goals remember to reward yourself at the level of your accomplishments. This means finding small ways to reward the small wins and big ways to reward your big wins.
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