13/08/2024
"What is the purpose of marketing?"
The answer to this question will be varied between marketers and business owners. The response is dependent on each individual business and the goals they are seeking to achieve.
π― The purpose of your own business' marketing - i.e., the WHY behind it all - depends on your goals. This may include things such as:
- To connect with others and build community
- To make sales
- To invoke discussion
Thus, there are different approaches that can be taken in marketing to propel you towards achieving these goals.
Some may opt for a seemingly 'trial and error' approach, whereby you throw some varied content out and see what sticks with your target audience.
The usual approach though is to utilise a carefully researched, distilled database of information to inform a strategic marketing plan.
π£ CIM - The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably", which leads us onto the importance of ensuring you have a complete and well thought out 'marketing equation' and subsequent plan for your individual business.
βπ» The 'marketing equation' can be used to develop your marketing plan. At a basic level, this involves taking the time to determine the answers to the following:
π WHO are you marketing to exactly? i.e., who is your target audience and what are their values?
π WHAT platforms and resources are you going to utilise? Consider where your target audience shows up.
π WHY are you marketing? i.e., what are your goals and vision here?
π WHEN will you implement the different stages of your plan? Consider the timeframe of your goals here.
This will then help you to focus your marketing approach towards your target audience, using tactics that will resonate with them and keep them engaged.
π€Ώ Ready to dive into smart and sustainable marketing for your business with a human-led, experienced marketer? DM us here at Ipsa Consulting today to get started.