What is marketing?
“The purpose of marketing is to know and understand the customer so well that your product or service sells itself.” - Peter Drucker
Is marketing about selling, or understanding?
Many people take the view that marketing is simply about selling products or services to customers. Someone has an idea, designs their product, and tries to let potentially interested people know about it. The whole process seems straightforward – but is it?
Marketing is not just about raising the profile of your product or service. If we go back to the basics, marketing is actually about engaging with people, and gaining a comprehensive understanding of their needs and desires. It is this relationship which forms the basis of all types of marketing.
Thanks to the advent of social media and data analytics, engaging with your audience is easier than ever before. There are now so many avenues through which to reach potential customers, and so much information now available about consumer attitudes, that we are even able to micro-target consumers on an individual level.
However, this also poses a challenge. Namely, how do we retain a personal, human dimension in a world where marketing relies so heavily on data, facts, and figures?
Marketing isn’t just about knowing your market and your consumer well. The industry has changed so much in the last couple of decades – and the need to keep ahead of the game is patently obvious. Marketing is now just as much about communications and engagement with people as it is with consumers.
This is no easy task – nor is navigating the world of marketing as a whole.
Today, it’s vital that businesses understand that they are not an island. Successful marketing requires a multi-industry, holistic perspective on marketing and communications – as well as the various points of interlocution that crosses market lines.
Thankfully, connecting with consumers is easier than ever. There now exists a wealth of independent expertise, knowledge, and information on what makes a successful marketing campaign. Connecting with these elements of marketing can really strengthen your campaign, whether it’s through:
Comprehensive market research
Hiring an independent consultant to help you nail those contacts and develop a clear plan of action
Or engaging consumers directly through new media
While traditional concepts of auditing and market research are perhaps more relevant than ever before, marketing is no longer as simple as taking the blunt, big-picture approach. It calls for a mixed team of expertise from many different areas and walks of life.
By triangulating between different points of expertise from across the board, engaging with consumers and collaborators on a personal level, and keeping in mind the varied, localised differences in our respective industries, we’re able to start building a new type of marketing that ultimately meets the wants and needs of today’s customers and client base.