Marketing as activity

07/01/2021 0 By indiafreenotes

Marketing activities are a significant factor that determines the success of your business. In other words, it is never enough to have a great product or service for most organizations and businesses. Without efficient marketing activities, your brand would not be known, and your business would slowly go under the radar.

Marketing activities refer to the things an individual or organization undertakes to boost sales and also to improve its brand. Marketing activities are the set of processes for creating effective communication, exchanging, and delivering offerings that would add value to the customer.

The objectives of digital marketing activities can be combined in the following three main categories:

  • Get new customers.
  • Keep the customer, from leaking out to competitors
  • Grow the customer, by studying their needs and providing solutions to them in the form of new products and services

1: Market research

Some organizations do not carry out market research, which is among the core marketing activity, and it is easy to dismiss it. But you should know that without proper market research, your marketing strategies would not be effective in most cases. So, you need market research, no matter the size of your business, and you would make it your priority when you understand its importance. So, here are some points about the importance of marketing research:

Spot opportunities: Market research can enable you to identify the people that need your product and services. in addition, You would know where you can reach them and the best marketing channels to use. Knowing about your customers and potential customers, such as their demographics, age group, working status, would go a long way in simplifying your marketing activities.

Lowers the risk of failure: According to statistics, 50% of the business does not survive past the 5th year. This is because of a lack of market research. When you carry out market research, you would be able to identify loopholes and bottlenecks. You would know how to get a steady stream of income through new customer acquisition and how to sustain your customers as well.

Product testing: Market research activity can enable you to test new products and services before launching them. This means you would be able to ascertain what your customers think about your products and services before making the final version. This can save you cost and enhance productivity.

2: Select the Customer Segment market

Marketing has become customer-centric. Therefore, you must be able to determine and select your customer segment for the products and services you offer. You can easily create customized products and services for your customers when they are properly segmented. Customer segmentation would also enable you to determine the best channels to carry out your marketing, which can save you cost in the long run.

3: Select product and services

If you must generate more leads and boost sales, you must offer the right products and services. Therefore, It is crucial to understand what the customer needs to enable you to offer them the right products and services. People easily forget or fail to know that without adding values to customers, your business cannot attract new or retain old customers. So, you must offer the right solutions to add value to your customers.

Business is very competitive today, and there are far more products in the market than buyers. Therefore, entrepreneurs and marketing teams must cultivate the habit of offering the right solutions to the customers. Right products and services go a long way to determine the success of your marketing campaign. Before you decide on marketing your products, you should ask yourself the following question.

  • What kind of products and services excites you, benefit, and you enjoy?
  • Would you appreciate the products and services you want to sell?
  • Would you purchase the products and services you plan on selling?
  • Can you confidently sell the same products and services to your children, mother, father or other loved once?
  • Can you sell this product for an extended period?
  • Can you be proud of the product you intend to offer?

4: Build Customer Experience

You may offer the right products and services and still not meet your target without the right customer experience. Therefore, organizations and businesses that focus on customer experience can greatly reduce Churn. Additionally, you would increase revenue and achieve higher profits with the right customer experience marketing activity.

Customer relationship is about how you handle and communicate with individual customers. While Customer experience can create an emotional attachment to your brand and encompasses the entire customer journey to impact every area of your organization or business. Because happy customers would remain loyal and recommend your brand. Consider the following in other to create an excellent customer experience

  • Understand who your customers are
  • Develop a customer experience vision for your brand
  • Create an emotional connection between your brand and your customers
  • Endeavor to capture customer feedback in real-time
  • Develop your marketing team
  • Be unique ( Your logo, slogan, website, colors and lots more)
  • Pay attention to employee feedback
  • Give back to your customers through discounts and special offers
  • Measure return on investment

5: Set Product distribution channels

A product distribution channel is the routes, intermediaries, and chains through which your services or goods would pass through to get to the final consumers and end-users. Also, distribution channels could be or a combination of retailers, warehouses, stores, wholesalers, social media, or e-commerce stores on the internet.

There are direct and indirect distribution channels. A direct channel allows end-users and consumers to buy the products and services directly from the manufacturers, while an indirect distribution channel enables the end-users to purchase the products and services from retailers and wholesalers.

Understanding and setting the correct distribution channel for the products and services you are marketing is necessary for the success of your marketing strategy. Moreover, you should evaluate the end-user, cost, and how quickly the goods would get to the final consumer in other to set your distribution channel.

6: Promotional

Promotions are the activities a marketing team carries out to communicate the brand, service, or product to the masses. In other words, the essence of promotion is to make people aware of or familiar with your brand and products in preference of others.

Promotion is an active process in marketing that needs to be closely monitored in other to obtain the best result.

In short, promotion is the voice of your company sent out to the masses, and it has a lot of benefits which includes:

  • Increase your brand awareness
  • Generate leads, build sales and improves profitability
  • Provide the correct information
  • Increases traffic
  • Create harmony and emotional attachment for your brand

7: Pricing

Without a good pricing system, people would not buy your products and services no matter what you offer. So, you need to study your customers, review the pricing system of your competitors and set a price that makes sense for everyone involved. Remember that while setting the price, you must consider your distributors and retailers because they play a vital role in the supply chain process.

Furthermore, Product availability, customer demand, and other external factors play a significant role in charging customers on goods and services. Therefore, price is very important in the marketing process. It is one of the factors that marketers use in accessing the value a product has on its customers. Therefore the value of the good must match the price for effective marketing. 

8: Customer Service

Effective customer service plays a big role in individual customer experience. So, if you want to ensure excellent customer service, then you must understand what the customer wants. You must answer their query as fast as possible, and you must give them adequate information about your products and services.

Customers these days are looking for friendly and hassle-free services, Therefore, businesses must be customer-centric in other to boost sales.