"Marketing" is how you communicate your brand to your customers.
Advertising is just one component of marketing. Marketing can be how you greet each customer as they walk in the door, or the free sticker you give each customer as they leave. Advertising is just one way you communicate with your customers. It is the combination of all the interaction your customers have with you that make up your marketing. That interaction determines how customers feel about your brand. It determines whether they will come back, and whether they would recommend you to a friend.
What message are you giving your customers? What message are your competitors giving them? Why should they do business with you? These questions can be addressed in your advertising, but should be clear in all your marketing communications.
|Product||Does anyone want it? What need does it fill?|
|Price||How much is it worth to them?|
|Place||Your distribution channel. How do they get it?|
Advertising and Sales
These factors do not operate in a vacuum. Outside influences require constant reassessment of your marketing plan.
Have a Marketing Plan
Can you change with the market?
How can marketing help you through these changes?
Advertising can be used to counter negative market forces, bad press or a poor economy. When used effectively it can accomplish immediate sales goals and build long term brand equity, strengthening the bottom line of your business.
Your "Leads Funnel"
Ask yourself what percent of your sales come from:
Having a set of expectations for an ad campaign will help you gauge its effectiveness. Before you start, write down what you want to happen from each campaign. Go over it with your sales rep and make sure your expectations are realistic.
Avoid the having to say, "I tried that, but it didn't work." A bad experience with an ad campaign may be more the fault of the message than the medium. Here are some tips.
The Importance of Branding
Effective branding leaves the customer with a favorable image of your company and its product. It should establish a distinct identity between your brand and its competitors. All of your messages should convey this to the consumer (conversations, advertisements, brochures, websites, etc.)
Branding can be very valuable to you if you operate in a saturated, competitive marketplace like selling cars, furniture, food or home services. If your brand is the preferred brand, price will not be as big of a concern.
Build a relationship with your customer. Effective branding leads to loyalty, referrals, and profits. A good experience brings people back. When it comes to building your brand, customer satisfaction is just as important as advertising. The better the customer experience, the less you have to rely on advertising to keep the leads funnel full. It will cost you on average 6 times more to bring in a new customer as to keep an existing one. Customers who perceive your brand as superior to your competitors won't be as motivated by price. They will actually try to justify doing business with you, even if your price is not the lowest.
Find out more about marketing in South Florida, contact Matt Lefkowitz at email@example.com.