Marketing & Advertising Resources
Marketing your business takes a substantial investment. You can pay to have someone do the marketing for you or you make the sacrifice of putting in the work for yourself.
Either way, a Marketing plan is essential for growing your business.
MARKETING & ADVERTISING
WHAT IS MARKETING?
According to the American Marketing Association, Marketing is defined 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".
WHAT IS ADVERTISING?
According to Shopify, advertising is a marketing tactic involving paying for space to promote a product, service, or cause. The actual promotional messages are called advertisements, or ads for short. The goal of advertising is to reach people most likely to be willing to pay for a company's products or services and entice them to buy.
After seeing the difference between marketing and advertising, you may be wondering, "what's the difference?". Basically, advertising is a form of marketing and is just one form of brand promotion.
FORMS OF MARKETING
This includes multiple approaches for marketing. It includes traditional approaches like TVCs and print media advertising. Also, one of the most well-known marketing approach is internet marketing. It includes various methods like PPC (Pay per click) and paid advertising "yodzi.com".
This form of marketing ties products to a social cause (also known as Cause Related Marketing).
This form of marketing is to enhance the customer experience by conducting customer service surveys and asking ways to provide better service. This gives an opportunity for the company to use this information to improve services and product availability.
This is an indirect form of marketing where the customer doesn't know they are being marketed to. An example of this would be product placement in movie or tv show.
Word of Mouth
This form of marketing is based solely on the customers' experience. Customer service is key to any business' success and If your customer service practices are lacking, your business will suffer immensely with the word of mouth method.
Internet marketing is done solely online and is implemented by sharing your products via social media platforms
Transactional marketing is is done when the seller offers coupons or discounts to the buyer. This method enhances the customers' experience and encourages return customers.
This form of marketing includes marketing to all demographics, ages, nationalities, etc. This form of marketing focuses more on reaching a diversity of people, as opposed to targeting a certain audience or customer base.
(Source: "Types of Marketing Strategies" - Yodiz.com)
SEO & KEYWORDS
WHAT IS SEO?
SEO stands for Search Engine Optimization. Search Engine Optimization (SEO) refers to the method used to increase a website's position on search engine results pages (SERPs) on sites such as Google, Yahoo, or Bing.
Developing an SEO strategy for your business can help draw consumer traffic to your website as well as grow your sales and revenue.
WHAT ARE KEYWORDS?
Keywords are defined as a word or concept of great significance. A word that acts as the key to a cipher or code, or an informative word used in an information retrieval system to indicate the content of a document.
WHAT IS THE IMPORTANCE OF USING SEO & KEYWORDS
Your SEO keywords are the keywords and phrases in your web content that make it possible for people to find your site via search engines. A website that is well optimized for search engines "speaks the same language" as its potential visitor base with keywords for SEO that help connect searchers to your site.
HOW MUCH DOES MARKETING COST?
In general, the actual amount you have to spend depends on the size of your company and the goals you have set. A company should spend about 5% of their profits on marketing to keep their current position in the market.
If you're a solopreneur or entrepreneur on a small budget, this investment can also be counted in elbow grease. Though doing your own marketing saves a lot of money, it also take longer to see sufficient results.
If you're tying to grow, 10% of your profits is what you should spend to have a larger reach and get faster results.
Once you've established your audience and you're starting to see a decent return, it's not uncommon for retail businesses to spend more for marketing, anywhere from 20%-50%
Email marketing is the act of sending a commercial message, typically to a group of people, using email.
BUILD A WEBSITE
Having a website creates a hub for your customers to visit. Whether they're visiting to buy, or if they're visiting to get the latest updates on your products, email marking is a proven way to get more traffic to your website if done correctly.
CREATE A YOUTUBE CHANNEL
Creating a YouTube channel is a way for your customers to feel more connected. They get an opportunity to hear a more in-depth account of your message, and they can learn more about your products.
Registering your business with major search engines will allow your to rank higher. If your business is on the first page, you are much more likely to get new clicks to your website or your store.
Creating ads for major search engines like Google or joining a merchant affiliate program can help you rank higher in search engines and will more people to know about your company's existence.
NETWORKING INCLUDES WORD-OF-MOUTH
Word of mouth is the oldest forms of advertising. It costs nothing to get going, but your business practices need to reflect a good review. If the customer isn't pleased with your current product, word-of-mouth can backfire.
Since the beginning of the technological boom, there has been a decrease in material media. Most correspondence is digital due to its immediate response time and it's less expensive. Marketing via the mail would be best suited for finding customers in your local area.