When you start a new business, you put your heart and soul into something you feel really matters and will make a difference in the world. After all the work of getting your business ready to open, you launch your website, open your doors and sit next to your phone waiting for it to ring. Whether or not your launch is a success has a lot to do with your marketing and advertising strategy, or lack thereof. Learn to create a strategy that sets your business apart from the crowd, in order to get customers calling, inboxes buzzing and sales flying.
What Is the Difference Between Marketing And Advertising?
While marketing and advertising are related, they are not one and the same. Marketing is anything your company does to establish its brand and build relationships with its audience. Advertising is the subset of marketing that creates exposure through advertisements on social media, in snail mail, in print, on the radio, on television or on billboards, etc. While all advertising is marketing, not all marketing is advertising. Marketing also includes things like your company's logo, slogan, vision, mission, colors, products, price point and supply. A comprehensive marketing plan includes building a brand that can be successfully advertised to consumers in a way that grows the bottom line.
What Are the Types of Marketing That Businesses Use?
Marketing is a broad umbrella that includes many elements within its scope. Here are a few of the most important:
Branding: Company branding creates a strong culture and name for your business, and it includes things like the logo, slogan, vision statement, mission statement, packaging, product line and price point based on information obtained through research.
Research: Research is vital to any successful marketing strategy because it enables your business to discover how consumers think, feel and act. Research helps you discover what your consumers like and don't like, as well as what their unmet needs are. When your business stands in the gap to meet those needs, your marketing strategy is strengthened.
Advertising: Advertising combines branding with research to create paid campaigns that engage consumers and convert to sales for your business. Good advertisements stick to the brand, use intentional language, connect with the consumer and make it easy for them to follow through. Advertisements can be run through a variety of mediums, including television, radio, print, social media and more.
Social Media: Social media combines branding, research and advertising on a platform that reaches great masses of people at once, yet remains flexible to your budget and time needs. Social media schedulers make it easy and cost-effective to plan several posts in advance. The best social media plans engage followers through a mix of posts that are educational, personal, entertaining and advertising. Many businesses follow the 80/20 rule where only 20 percent of content advertises the business, while the other 80 percent engages followers' interests.
What is Public Relations?
Public relations falls under the umbrella of marketing and is key to the success of the overall marketing plan. According to the Public Relations Society of America, "Public relations is a strategic communication process that builds mutually beneficial relationships between organizations and their publics." Many marketing plans fail when they forget that the vital glue necessary for success is building relationships. Public relations utilizes several vehicles for relationship-building, including content creation, customer care, events, speech writing and reputation management. Whatever marketing strategy your business lands on, keep the focus on relationship building, listening and meeting needs in order to create customer retention and long-term stability for your business.