The best marketing strategies for your business
What does the word “marketing” make you think of? Most people would reply: “to advertising”. Indeed, the two are closely connected, but advertising is only one of many marketing tools. Promoting a business doesn’t have to focus only on the final stage of the sale. It is also important to identify the people who may need your products and services and to make sure that potential customers can easily find your business (visibility). Maybe marketing won’t be your daily bread, but little by little you can learn marketing strategies to master it.
In this article, we will explain the meaning of some marketing terms and illustrate some strategies presented by the best australian online casino, so that you can find the right one for your business.
What is marketing?
The goal of marketing is to communicate and promote your business. It consists of learning who your target audience is, attracting new customers, understanding and deciding what message you want to communicate, developing new products or services, and then thinking about the best way to sell them.
Why are there so many definitions of marketing?
In the past, marketing was done in specific contexts: for example advertising in local newspapers, word of mouth, etc. From the 1950s up to the present day, the means and channels with which to reach potential customers have multiplied: no longer just radio, TV, and press, but also the internet and more specifically online video, social media, search engines, and so on.
This variety needn’t worry you – the fact that there are so many ways and tools to do marketing doesn’t mean you have to use them all. Large companies invest time and money in promotional campaigns across multiple channels. Smaller businesses won’t be able to invest the same amount of resources, but the marketing goal will be the same: to find out who the potential customers are and get their attention.
Why is marketing important?
The obvious answer is that marketing helps increase sales and reach more customers and these are (in theory) the goals of most companies.
Marketing also helps you to save precious time because it allows you to understand who are the people who might be interested in your products or services and pushes them to choose you and not the competition.
What is the difference between marketing and advertising?
Sometimes the words marketing and advertising are used interchangeably, but advertising is just one aspect of marketing, the equivalent of stepping on a ladder or a screwdriver inside a toolbox full of other utensils.
Advertising is usually used when a company already has a product or service to sell and to propose to the target it wants to reach.
Marketing includes many other activities: the entire process of researching potential customers, studying the modification of products/services to meet people’s needs and feedback, identifying and communicating the strength of the offer, and the construction of the brand identity that must inspire trust in people to push them to buy the company’s products or services several times.
The 4 Ps of marketing
They are the key elements involved in any marketing strategy and are usually referred to using the term marketing mix :
Product – Before you start selling something you should ask yourself: who would buy it? Does it meet any needs? To answer these questions, marketing uses the study of specific groups of people, sometimes interviewing regular or potential customers. If you realize that recurring questions emerge during the research and interviews, you can answer them by inserting a page dedicated to FAQs or an explanatory video on your site.
Price – Setting the right price for your products is also part of marketing. How much are people willing to pay for what you sell? What are the competitive prices? Prices don’t always have to be the lowest, as higher prices can suggest that a product or service has a particular quality. In this case, the high prices will serve to attract a specific target of potential customers. To decide on prices, it can be useful once again to interview customers or analyze the competition.
Place – Think of this point as an invitation to meet customers at the place they are at any given moment. In the sixties, there was a reference to the importance of finding the right location to open the physical store. Today the place is also virtual, just think of the fundamental role of the online shop or the presence on social networks such as Facebook and Instagram.
Promotion – Now that you have the right product/service, you have decided on the price, the place, or place to sell, you need to think about the promotion. How will potential customers find you? Promotion can take place through multiple marketing channels. They range from the more traditional ones (ads, ads, PR) to the more recent ones (social media, videos, etc.).