Marketing has become part of our daily lives, we see it every day, we consume products and services thanks to it and it brings us solutions to our lives. But what is marketing? Is it only a department from a business, or its part of the sales area? For any business today, marketing is an important key, it's a way to create a conversation with a customer, and it's a way to showcase a brand's vision and mission; marketing is everywhere and it won't go anywhere anytime soon.
Defining what is marketing is not an easy task to take, as its meaning changes depending on the individual you ask to. The American Marketing Association (AMA)1 describes marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” HubSpot2 states that “marketing refers to any actions a company takes to attract an audience to the company's product or services through high-quality messaging.”
It is also common for marketing to overlap with sales and advertising but seeing it on a deeper level, marketing is present in all stages of a business. In other words, marketing is a process of understanding your customers, and your target audience and from there, a way to build and maintain a relationship with them. This is fundamental for a business or brand to have success.
Marketing encompasses different strategies to get to know their buyer persona, as well as to attract them to their product or service. Some strategies3 used are market research, advertising and promotion, social media strategy, public relations, retention, etc. These strategies can happen online and offline, but with a growing tendency of using the Internet, most strategies have shifted to what is known as digital marketing.
With the rapid evolution and spread of technology in the last century, businesses had to embrace and experiment with different tools to promote their product or service. Digital marketing refers to all the marketing activities that take place online by using different tools and platforms like websites, social media platforms, videos, emails, etc. to reach customers.
With over 63%4 of the world’s population using the internet, digital marketing has become a very dynamic process that keeps changing, unlike traditional marketing, which has been used as a one-way tool. In other words, with digital marketing, customers can now interact with the business through different online platforms, and they rely on digital tools to research products and make purchasing decisions.
There are some tools and types of marketing5 that can be relevant depending on your business’s objectives and your target audience. Here are some types:
For some businesses, using printed media is still the best way to reach your audience.
Using unconventional and creative ways to attract interest to your business that is often low-cost.
Social media platforms such as Facebook, Instagram, TikTok, Twitter and LinkedIn create or build a relationship with customers and potential leads. As well, as to bring awareness about your business or brand to a wider audience.
Creating and sending emails to tour customers who have signed up for your newsletter to keep them informed and get conversions.
In accordance with Semrush6 SEM is the practice of generating traffic through paid advertising. In other words, it is a type of marketing that businesses have to pay to appear in prominent positions on search engine result pages (SERPs).
As stated by Semrush7 SEO is an organic method for ranking well in search results. It is a process that optimises the content of your website to make it more visible to search engines and drive more traffic to your website.
Creating content in different forms and platforms to build brand awareness and engage with your target audience.
Using individuals who have a high profile with the audience you want to reach to promote your product or service.
The 4 Ps of marketing explains how marketing interacts with each stage of your business. Having the right mix can be key to success.
It is the thing you are offering to your customers. This thing can be a product, a service, an experience, etc. Marketers search for the unique selling proposition (USP) of the product and how it can help your customers’ needs.
Deciding on the price depends on the demand and supply strategy, as well as your extensive research on your buyer persona and competitors, and the whole industry.
Where you are distributing your product or service; it has to be in the right place at the right time.
All the elements are combined to create a strategy to promote your product or service, and it can include many strategies.
In the last decades, more Ps have been added, like people, process and physical evidence.
To have a successful marketing strategy, marketers must understand their target audience, create messages and content to attract them and grow the loyalty and credibility of your business and your product or service. Marketing can be a rewarding and creative area when done correctly and is a key factor for long-term success, no matter the industry or kind of business you do.
1 Danaher, Peter J. “What is Marketing? — The Definition of Marketing — AMA.” American Marketing Association, https://www.ama.org/the-definition-of-marketing-what-is-marketing/. Accessed 20 July 2022.
2,5 Forsey, Caroline. “What is Marketing, and What's Its Purpose?” HubSpot Blog, 25 February 2021, https://blog.hubspot.com/marketing/what-is-marketing. Accessed 20 July 2022.
3 “What Is Marketing? A Definition and Basics Guide — Marketing (2022).” Shopify, 11 February 2022, https://www.shopify.com/blog/what-is-marketing. Accessed 20 July 2022.
4 O'Brien, Clodagh. “What Is Digital Marketing?” Digital Marketing Institute, 22 March 2022, https://digitalmarketinginstitute.com/blog/what-is-digital-marketing. Accessed 20 July 2022.
6,7 Varagouli, Erika. “SEO vs. SEM: What Is the Difference and How It Affects You.” Semrush, Semrush, 24 July 2020, https://www.semrush.com/blog/seo-vs-sem/?kw=&cmp=CA_SRCH_DSA_Blog_Core_BU_EN&label=dsa_pagefeed&Network=g&Device=c&utm_content=484268840769&kwid=aud-784929881938:dsa-1057183189355&cmpid=11775480152&agpid=117404310874&BU=Core&extid=23626511641&adpos=&gclid=. Accessed 20 July 2022.
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