Looking for some marketing basics to include your business in today’s digital marketplace?
You have reached the right place!
The online existence of your brand is very important to build. The modern audience uses the Internet to find information on the products and services they require. If you want to reach your target viewers, you need to be present online.
It’s safe to assume that most of the part of marketing strategy today is digital. Consumers and businesses are always found on the go and online, and you always want to be able to observe their behavior and reach them where they spend their time.
But a question, how would you get started to reach your potential customers, increase online traffic on your website, and, most importantly, market your business through basic marketing ideas.
After reading this guide, you will understand what marketing is, how you can use it to engage, reach, and convert your audience into leads.
What's on This Page
Here we have put together this Marketing 101 Guide. It will provide you with everything about marketing basics so that you can take your first steps to become a professional.
If you are planning to launch your own business, check out these strategies to effectively market your business.
What is Marketing 101?
To me, who works in a marketing role, it sometimes becomes difficult to share the exact meaning of marketing even though you see and use it every day. The term marketing is a variable for an up-front definition.
Marketing can be defined as involving people and getting them interested in your company’s product or services by understanding your ideal customer’s interests, market research, and analysis. The marketing relates to all aspects of a business, including product development, sales, distribution methods, and advertising.
Types of Marketing
Conduct market research that determines which type of marketing and tools are required that are best for building your brand. Check out such types of marketing that are applicable today:
Internet marketing: Also known as online marketing or web advertising, is a form of marketing that uses the Internet to deliver advertising messages to customers through digital channels such as emails, search engines, websites, and social media.
SEO: Also known as Search Engine Optimization that focuses on expanding a company’s visibility in the search engine results. It helps companies to rank more pages higher in Search Engine Result Pages and, in turn, drive more audience to the site, increasing chances for more sales.
Blog marketing: Blogging is a marketing strategy that uses blogging to get your brand more online visibility. A blog is a marketing channel similar to social media, direct mail, email marketing, etc. that helps support business progress.
Social media marketing: It is the action of creating relevant content to promote your brand, services, and products on social media platforms such as Facebook, Twitter, Instagram, etc. Your content should be unique and should be customized according to the platform it’s being shared on. This helps you to boost conversions, sales, and increase brand awareness.
Print marketing: Print advertising is a form of marketing that uses physically printed media to reach a potential audience. Print ads were used as the standard format for creative advertising. But with the growth of digital outlets, print marketing is seen as an expensive media format now.
SEM: Search engine marketing (SEM) is a marketing strategy to optimize and advertise your website to appear higher in search results. Thereby increasing the visibility of your business.
Video marketing: Video marketing uses videos to promote, market, and advertise your products or services. This, in return, increases your engagement on digital and social media channels, educate your buyers and customers, and reach your target audience with a new medium.
Pay-Per-Click (PPC) Advertising: Pay-per-click, PPC, is a paid advertising that falls under SEM (search engine marketing). With PPC, the marketer only pays when people interact with their ad through clicks or impressions.
Email marketing: It is the process of targeting and interacting with your audience and customers through email. It helps you boost sales and revenue by providing customers and subscribers with important information to help achieve their goals.
Content marketing: It is the process of planning, creating, sharing, and publishing content to reach your target customers. As a business basic, this strategy can help you improve brand awareness, connect with your target audience, boost sales, and engage prospects and customers.
4 P's of Marketing
Jerome McCarthy introduced the 4 P’s of marketing in the 1960s: product, price, place, promotion.
Here in this Marketing 101, these 4 P’s explain how marketing basics interacts with each stage of the business.
For example, you come up with an idea for a product or service you want your business to sell. What’s next? You won’t be successful if you start selling it.
Before that, your marketing team should do market research and find:
You should answer these questions to help businesses understand the demand for the product and increase product quality.
Ask your marketing team to go for competitor analysis and check out their product prices, or use groups and surveys, to estimate how much your buyer is willing to pay.
Check out the market rate per unit of a product as you will lose out a reliable customer if the price is too high and might lose more money if the price is too low. Therefore, marketers should use industry research and consumer analysis to estimate a reasonable price range.
Another consideration can be if the products should be put on sale at a certain period of a year, or will it make sense to offer customers different payment options rather than imagining that people will pay the full price upfront.
You should understand that the right product must be in the right place for the user to buy it. This can be achieved by proper understanding and analysis of your consumer’s needs.
Research and check where the products need to be distributed more, offline or online, i.e., some people or marketers believe that an e-commerce site (online) works better than a retail location (offline), or vice versa.
Also, check and find out which locations would be most feasible to sell your product nationally and internationally.
Promote a product once it launches so that people are aware of its existence. Promotion is executed by marketing strategies such as online or print advertisements, hosting events, or providing discounts to increase awareness and interest in your product and lead to more sales.
You’ll likely see methods like advertisements, public relations campaigns, or social media promotions during this stage.
You should know the channels that will be used to promote the product – either offline or online. Select the locations where the products and services will be promoted – in stores, on eCommerce sites, or at events.
Send appropriate messages to customers to tell the audience what the product is about, encourage them to buy those products and services.
Hopefully, our 4 P’s helped you understand marketing’s basic purpose and how to define it. Marketing overlaps with all business areas, so you need to understand how to use marketing to increase your business’s productivity and success.
Before becoming a customer, a person will go through the sales funnel. The sales funnel comprises the different stages a customer goes through while leading to their purchase, i.e., from exploring your website for the first time, subscribing to your email list and reading your emails, talking to a sales associate, and figuring out whether to buy from you.
The sales funnel has become the heart of marketing for a long time. It is your job to give customers the fuel to move them along the funnel toward buying.
Content marketing has made it easier for marketers to engage people at various stages of the purchase journey.
Here, I will share the aspects of the buyer’s journey as it aligns with the marketing funnel, by its three main parts:
1. Top of the funnel (awareness)
At this point, a buyer is unaware of a product or brand and tries to solve problems, get an answer, or meet a need.
They’re looking for top-level content that would educate them to a solution, such as ebooks, blog posts, and social content. Their value as a sales or lead is low because there’s no guarantee that they’ll purchase from you.
But those who find your content helpful, educational, and interesting may lead you to head toward the middle of the funnel.
2. Middle of the funnel (evaluation)
At this point, the buyer is actively researching your products and services. This means you’ve captured their attention.
The customers are aware that they have a problem that needs to be solved, and now they are trying to find the best solution. This is the stage where you want to show why your solutions are the best fit. You also want to help customers determine if they’re not a good fit, which will be very important later for healthy customer relationships and retention.
If you convince customers to buy your products and services in the long run, you could be shooting yourself in the foot of increasing sales and lead generation.
The middle of the funnel in marketing basics is a point of prolonged engagement where you’re nurturing a lead, establishing trust and relationship between the audience and your brand.
3. Bottom of the funnel (purchase)
At this point, the buyer is ready to buy, thus making the actual purchase decision.
The customers are ready to buy, but that still doesn’t guarantee that they’re going to purchase from you – the last choice they have to make: Where do they get the solution they’re looking for?
In most cases, sales at the bottom of your funnel need that final push and that convincing call-to-action to get them to make a purchase decision. The right content and offer at this stage can have a good impact on increasing your conversions.
Developing a Marketing Strategy
It’s essential to understand how a marketing strategy works before implementing your company.
A marketing strategy is an approach for reaching a specific marketing goal in an achievable and focused way. It considers what and how your business is currently doing and what you’re missing in regards to the objective goal set, so you’re more likely to achieve it.
Your marketing strategy may include numerous moving parts, each with different goals depending on the type and medium of your business. Therefore, working on your strategy can become discouraging at times.
To provide a better understanding of what marketing strategy includes, check out the marketing basics commonly used by teams across a range of industries.
Gather all these basic marketing strategies and put them to work for your business.
You need to practice all these tactics to start seeing real results and check the best marketing strategy to grow your business.
Keep the following in mind and start your basic marketing journey using Marketing 101 Guide: