Marketing is critical to the success of startups, freelancers, and small businesses. But with so much jargon, it can be difficult to understand what is necessary to get a return on investment from the start.
Marketing expert Katherine Venable shares her top principles to help you decide how best to use your limited resources.
From branding to tactical implementation, discover why marketing is more than just social media and how to build trust with your target audience.
Marketing is an ‘umbrella’ term that defines ‘How’ and ‘Why’ you sell your product or service to customers
This includes branding, strategic channels, and the tactical implementation of your marketing plan.
Marketing is not just about promoting a product or service. It involves understanding your target audience, developing a brand identity, and choosing the right channels to communicate with customers.
The goal is to create a comprehensive strategy encompassing all aspects of your business's offering and resonating with your target audience.
A marketing plan should include tactics such as advertising, public relations, and content marketing, as well as a well-defined brand identity that accurately represents your business.
The target audience is EVERYTHING
Identifying and understanding your target audience is critical to any successful marketing strategy. Rather than focusing on vanity metrics like follower counts or website traffic, businesses should aim to develop a loyal customer base that will advocate for their brand.
It's better to have 20 true fans than thousands of followers who are not engaged. These customers will leave positive reviews, refer new customers, and spread the word about your business through word-of-mouth.
By building these relationships, you can create a community of brand advocates to help your business grow.
Brand is a shortcut to your target audience
A brand based on strategy, research, and stories that get to the heart of your values and the bigger WHY makes your efforts go ten times as far over time.
Investing in a strong brand is a powerful tool for any business. It is the first thing customers will see, setting your company apart from its competitors.
A good brand is based on clearly understanding your business's values, target audience, and competitive landscape. It should be developed through research and strategy and built around a compelling narrative that resonates with your target audience.
Test and learn
Data is an essential component of any successful marketing strategy. By tracking metrics like website traffic, conversion rates, and customer feedback, businesses can better understand what is and isn't working in their marketing efforts.
This allows them to refine their tactics and develop more effective campaigns. Businesses should always be testing and learning and using data to inform their decisions.
Marketing combines behavioural psychology, creativity, data, and a sprinkling of gut feel. While it can seem complex, businesses can develop effective campaigns that speak to their target audience and drive results by combining creativity with data.
While there is always a degree of uncertainty in marketing, businesses should be bold in trusting their instincts and making decisions based on their own insights and experiences.