Business

8 Features of Marketing You Should Wrap Your Head Around

8 Features of Marketing You Should Wrap Your Head Around

Marketing is an integral part of every business and marketing strategy has a direct impact on revenue. Take a look at the features that characterize marketing.

The concept of marketing that we know today can be traced back 3500 years to 1500 BCE when the Mesopotamians first started mass-producing goods. From then on to the age of digital marketing and marketing automation, the profession has changed a lot. In this post, we will look at some features that characterize marketing as a profession, a practice, and a business function.

1. Customer centricity

If there’s one thing about marketing that has not changed a lot over three thousand years is the focus on the customer. The customer has to reside at the center of every marketing strategy for it to succeed. The principal characteristic trait of any good marketer is their knowledge of the customer base they are targeting. What are the pain points of the customers that the product or service is addressing? What is the best way of communicating with a particular set of customers? And What is the price point that a customer can actually consider affordable? All of these questions have to be answered by marketers through research, competitive analysis, and extensive networking.

2. Customer experience

Customer retention is just as important as making the first sale. The loyalty of a customer is earned by outperforming your competitors in terms of customer service. The immediacy as well as the quality of response when a customer makes a request or inquiry, the amount of personalization you add to your regular communications with the customer, and the deals and offers you extend from time to time, all contribute to the betterment of customer experience. And it is the key to retention.

3. Alignment with the business

The average ROI on marketing expenses is 5 dollars for one spent. If things are really going your way, it can be 10:1. Anything lower than 2:1 and you will probably end up losing money. The rule of thumb is to spend 2-5% of your revenue on marketing. So, the future of marketing is determined by the profits made. Even the most creatively exuberant marketing campaign can get canceled if it fails to draw a satisfactory ROI. The point is, it is extremely important that marketing teams align their efforts with the business goals. They should understand the time they’re in and the customer they’re trying to attract.

Also Read – What is Bulk SMS Marketing And Its Benefits

4. Rooted in context

Marketing campaigns are designed in a way that they reach the customers in a natural way almost as a part of what they choose to view or experience in a day. Placing ads, creating content, and paying influencers, all of these cost money. All of it goes down the drain unless it is rooted in context. Is what you offering relevant to the customer’s psycho-social outlook at that point in time? Marketing has to leverage social, economic, and cultural contexts.

5. It’s an art

If I’d have asked my customers what they wanted, they would have told me ‘A faster horse’. 

~ Henry Ford     

Marketing has to be visionary, innovative, experimental, and a little crazy. It is the innovation that distinguishes leaders from followers. And marketers have to bring the mind of an artist to the table – to really express what they would want while also exercising the discipline to understand whether the customers would want the same thing. 

6. It’s a science

Creativity and innovation aside, marketing is steeped in numbers and experiments. You cannot innovate without first learning the ground rules of trade. The right answers to a lot of questions guide a marketer forward. You have to be aware of the SEO metrics, and imbibe qualities into your content that will place it on the SERP. You have to be on top of the up-and-coming marketing practices while always monitoring the ROI of each move you make. Every step has to be result-oriented. Sometimes the desired result may be better website traffic, sometimes it can be a lower bounce rate. Everything is always connected to revenue.

7. Multichannel

You will hardly ever find a company that depends exclusively on a single channel for marketing. They focus on at least 3 different channels or more. For instance, if a company’s primary medium for marketing campaigns is Google ads, it is likely that they will also have a blog to bring in some organic traffic. On top of that, they will invest some part of the marketing budget in LinkedIn or Facebook ads depending on the kind of audience they are targeting. Add influencer marketing on Instagram to that and you have 5 channels right there. Apart from these, a company may engage in the publication of guest articles on various blogs other than their own to get backlinks.

8. Dynamic

Marketers do not have the luxury of constancy. While the guiding principles of marketing are quite universal and have held true for years, the approach has always been dynamic. For instance, a business that used to invest in billboards in the nineteen sixties must have had to move to television ads in the eighties and Google ads in the 2010s. The way content was written in the 1990s changed in 2020. The way SEO was done in 2010 is almost completely obsolete in 2022.    

About the author

Ombir Sharma

Ombir is a SEO Executive at The Next Hint Media, Inc. He is a SEO and writer has 2 years of experience in these respective fields. He loves spending his time in doing research on different topics.

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