The marketing landscape is constantly changing, and we see more and more innovation in this sector. From social media marketing to creating compact and impactful content, all contribute to the marketing trends.
However, much of it remained the same when it came to core marketing concepts. A classic example is the Principles of Marketing book, which was published in July 1980. A key principle discussed in the book was that “customers must drive company actions and their needs.” It is still relevant today, as the core idea of creating value is still what drives a business forward.
The advancement of technology gives rise to new mediums and channels (for example, social media), but the core principles remain the same. So when setting up a marketing process, it is essential to remember the basics. You can learn more about business principles from this macroeconomics document.
Why do I need a marketing process?
A marketing process is the steps a company takes to analyze different market opportunities. With a correct marketing process, you can specify your target audience and devise a strategy to interact with potential leads for your sales team to convert and turn into paying customers.
The marketing process basically puts your name on the map; it aims to create brand awareness so that customers recognize your existence as a company.
Although marketing strategies can vary greatly depending on the business and the particular industry you are in, they typically involve four stages:
- Formulating a brand
- establishing a client profile
- Developing a strategy
- assessing and changing the strategy
The 4 steps of the marketing process explained.
Formulating a brand
Creating a solid brand requires you to first identify yourself as a company. In this day and age, just stating which industry you belong to will not make the cut. Instead, you have to identify a problem that your customer is facing and have to state how you choose to help the customer solve that problem. For example, you can just be a “UI/UX company,” or you can be a “UI/UX company that uses AI to improve customer engagement by 30%” the latter will help you create a brand value while the first one will make you a generic company.
Establishing a client profile
A client profile will help you focus your marketing campaigns on specific groups and personalize them for maximum engagement. Ideally, you should have personal details like name, age, gender, job, and interests. Just imagine a customer’s excitement if you can give them a special discount on their birthday, such a personalized experience is what makes companies memorable to customers and make them come back over and over again.
Developing a strategy
Now that customers know about your existence and have established a client profile, it’s time to develop a strategy to reach these customers. It would help if you had a marketing goal for reaching out to customers (social media, email marketing, ads), your budget, or the products you want to showcase. The more detailed a strategy, the more successful they are, so try to include as much detail as possible.
Assessing and changing the strategy
Once you have developed a strategy, it’s time to put it to the test. There is no right or wrong way to create a plan, so you should not expect it to be perfect the first time around. Improvise and make adjustments to see what works best for you.
And that is how you create a marketing process. It is essential to understand that the marketing process is a system and requires some time to impact your business. But as long as you follow the basic principles, you are on the right track.
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