Are you a marketer or would you like to become a marketer, but you don’t have any background in marketing? If that describes you, this post is intended to give you three marketing basics that will help you become the marketer you want to be.
One of the problems that I see in internet marketing is that many who enter the field have very little knowledge or understanding of marketing. Internet marketing seems simple and there are zillionaires who say that it’s easy. Many buy this way or that way to make huge incomes. Then reality sets in. Over 90% of internet marketers fail.
Without a background in marketing, advertising, public relations, or communication, it can be hard to go from nada to Prada, as I like to say. There are some basics that aren’t hard to learn, but help to set newbies up for success in digital marketing. One set of basics is really simple – it’s called Marketings 4 Ps.
The 4 Ps of Marketing
- Product. Your product can be physical or digital, a t-shirt or an information product. Once you have a product and thoroughly understand its benefits, you can move on to price.
- Price. So, what’s it worth? The price you set will determine the number of sales, your profit margin, and how you market it.
- Promotion is how you get your product information to potential buyers. Advertising, public relations, social media marketing, and email marketing can all be part of your marketing mix. How you use these different media for your marketing campaign is another part of your marketing or promotion strategy.
- Place. This has to do with where you will find your customers. You might find that your best option is Facebook advertising, or Google, or Instagram (which works with Facebook since Facebook owns them and will put your ads on both FB and Instagram). You may find that solo ads or banner ads work best, or that a mix of all three optimizes your sales and profits.
Marketing Communication Strategies
Marketing communication strategies is the promotion part of the 4 Ps. This includes the strategy of how you will promote, but you already figured that out since it’s called marketing communication strategy.
This strategy is targeting communication using one or more media, like email, telemarketing, internet banner ads, television, radio, direct mail, billboards, etc.
Marketing communication strategy is your plan to create and grow brand awareness and sales of products and services. The key is to plan the strategy around what is most appropriate for each product and/or service. How can you showcase what you have to offer in the best way to the best audience for what you have to offer? That’s the question that marketing communication strategy answers.
In the infographic above, you see what SWOT stands for. This is a type of analysis that is essential to good marketing practice. This sometimes called Internal-External Analysis since strengths and weaknesses look at your business from the inside and opportunities and threats look at the external factors that affect your business.
It’s essential that you know the strengths and weaknesses of your company and your product line. It’s also essential to know how you measure up to your competition and what are the best opportunities you have to sell your products and services.
A good SWOT analysis will help you to better understand your business, your business niche, and uncover the best opportunities to seize to keep your business moving forward and upward. SWOT analysis can help you create the best marketing communication strategy for your business.
This post is a Marketing 101 guide for you; there’s plenty more online to take you further. I welcome any comments or questions, and your likes and shares.