Marketing strategies, marketing tactics and marketing tools are all about “enabling a product or service to engage in a marketplace.” Unlike advertising, where the dollar budget is king, marketing is more about a well-devised process or repeatable system than about how much money you throw at it.
Marketing is a business development function. It is all about facilitating an exchange of goods and services. It involves creating the good or service, establishing its value, getting it in front of the audience that is most likely to buy, and telling that audience about the product or service … until they indeed buy it!
Along with the 4 Sides of your product and business, there are 4 Ps that are generally used to describe the marketing mix: Product, Price, Place and Promotion.
As it is also important to understand what marketing is NOT, I must state here that marketing not just about promotions or advertising. It is much more than the part of the marketing mix that we as consumers see. Many business owners have interacted with marketing tactics as consumers who receive messages from brands; therefore, they believe marketing to be advertising only. We’ll see how it is not!
The best marketing is 80% science and 20% art.
That means that marketing is NOT 80% art.
Somehow, as a profession, we’ve lost our way as marketing “scientists.” The profession has attracted individuals with large personalities (read “egos”) who have turned the tables on our collective customers. The egos have convinced even very, very big clients that marketing is 80% art and only 20% science.
The problem with this erroneous thinking is that you don’t get to a sustainable and repeatable result from “artistic” endeavors. Numbers don’t lie. Hard data can be analyzed and interpreted. The science of marketing is no sexier than accounting or project management – but like these disciplines, it is much more results driven. Let us always remember that business is all about the almighty bottom line!
This said, stop looking at Marketing as a cost center. Change your perspective to see marketing as a profit center. Marketing creates more revenues, when done scientifically!
I haven’t forgotten the “art” of marketing – this is where you can creatively put together messages for emails, ad language, slogans and teasers, product names and so on. Creative language, however, needs to be tested like all marketing tactics!