What is Marketing?

For many business leaders, it is easy to get confused with advertising. Marketing is much bigger than that.

360 branding

 

Marketing should be a big part of your company’s strategy. After all, marketing is where sales, advertising, public relations, customer service, product and  finance all intersect.

Myth: Marketing is advertising. A logo and a tagline diminishes the overall value of what marketing can do for your company, brand and product.

 

 

The truth is marketing can consist of…

☐ Display Advertising ☐ Product Development ☐ Transactional
☐ Email Marketing ☐ SEO and SEM ☐ Market Research
☐ Direct-Mail Marketing ☐ Public Relations ☐ Website
☐ Branding ☐ Sales Strategy ☐ Social Media
☐ Sales Materials ☐ Customer Support ☐ Pricing Models
☐ Marketing Analytics ☐ Distribution ☐ Content Marketing
Understanding these marketing assets is critical to growing your business. Marketing should be a company-wide effort. Companies whose departments work in vacuums don’t know what others are communicating. This creates mixed messaging and lessens the ability to make an impact with customers.

 

Mistakes companies make when they first become a supplier:

  • Not putting enough work in. You get out what you put in. Devote time to putting out good products, marketing your products and telling people about it through networking. 
  • Marketing should be part of your company’s overall strategy. Directionally, what do you want your company, product, business to do.
  • Identifying and setting aside your marketing budget. 
  • Leaving marketing to just marketing people. Companies leave marketing to an admin or just an intern and not as part of a larger company initiative lack complete buy-in.
    When you lack company buy-in, you don’t get the full support you need to make an impact
  • Marketing and forgetting it. Set it and forget it approach doesn’t work. 
 

 

⇨ Next Chapter: Chapter 2 -- Seven Things You Can Discover from Marketing

Chapter 1 -- What Is Marketing?