Whatever market you are servicing, the success of your business depends largely on how good…
When you think about the biggest brands and companies in the world, there’s one thing that CLEARLY really sets them apart from the others.
What is that thing?
It’s their marketing! Take it or leave it, your marketing strategy is such a powerful thing that it can make or break your company.
Now, if you carefully examine it there are two key facets to it. The first is identity. Businesses use marketing to carve out their unique place in the industry. They use it to create an identity, and show off their differences. Secondly, it’s all about awareness and recognition. You need to get your product or brand in front of as many eyeballs as possible.
As a small startup on a budget, it’s tricky to know where to start. But don’t worry, I’m here to offer some help in this area.
In this post I will walk you through the five core pillars of marketing. Each have their unique benefits, and you’ll need a good mix to stand out in the modern world.
So, if you are ready, let’s get started!
1. Traditional Advertising
One of the cornerstones of marketing is advertising. Paying money to access a huge community of potential customers is still one of the best ways to get your name out there. Traditional advertising refers to TV adverts, radio adverts, and magazine placements. They focus on old media. Now, many marketers have pronounced this market dead. But, if you create a powerful and compelling TV advert, you’ll reach the masses. Plus, magazines are still one of the best ways to reach a niche audience.
PR stands for ‘public relations’, and it usually involves hiring a third-party company. It’s their job to introduce you and your product to the press. Natural press coverage (in magazines and online) is much more powerful than advertising. It means that journalists and tastemakers are actively promoting your product. Customers tend to trust their recommendations, so it’s a crucial part of your marketing strategy.
3. Digital Marketing
Of course, the dominant form of marketing now takes place online. If you’re a small startup or new business, this is where you should begin your activities. First of all, it’s much cheaper than traditional marketing, and it’s much more targeted. You can use online advertising through Facebook or Google to reach highly specific audiences. You can build a website, start a blog, and create a rabid community of followers.
4. Social Media Marketing
Social media is part of your digital marketing strategy, but it deserves a category of its own. It is incredibly powerful when used correctly. Some modern companies have built their livelihoods through social media. Creating a community on Twitter, Instagram, Facebook, and Pinterest is your best way to reach customers.
5. Experiential Marketing
Experiential marketing is a little more tricky to get right. But, when you do, it’s the most impactful of all. You’ll need to get a little more creative here. It’s all about creating an experience, and making an emotional connection with your brand. Think about Red Bull’s marketing campaigns. It’s all based on extreme sports and challenges. It makes you feel something. You connect their brand to a particular emotion. That’s experiential marketing at its best.
Take another look at the above again. How many of these pillars of marketing are you currently using? Can you think of any room for improvement?
As mentioned above, your marketing strategy is very important. What you do and how you do it will greatly impact on your business success. So no matter what you do you should take your marketing strategy very serious. You can take one of the above marketing concepts and concentrate on it or take a few and use them as a combination to drive your business to the next level.