* What is marketing? *
There are many definition of “Marketing”
1.
Marketing is the Management process for
identifying, anticipating, and satisfying customer requirements profitably.
2.
The management process through which goods or
services move from concept to the customers. It includes co-ordination of four
elements called the 4 P’s of marketing.
a.
Identification, selection and development of
Product
b.
Determination of its price
c.
Selection of a distribution channel to reach the
customer’s place
d.
Development and implementation of a promotional
strategy
So, overall marketing is the process to reach at the
customer’s needs.
Marketing is the relationships between Company and
Customers.
Company: Create the value for customers and try to find good
products and needs as per customer’s needs
Customers: They give their time to and money to get the GOOD
services or products from the companies.
There are mainly two types of Marketing:
1. Outbound Marketing
2. Inbound Marketing
1. Outbound
Marketing
Outbound
Marketing is a strategy in which business advertises its products and services
by presenting information to the consumer even if they are not looking for
those products and services. Because of this, Outbound Marketing is also known
as “interruptive marketing”.
Companies do this via use of television, print ads, directs
mails, radio, and more. This is how traditional advertising works, but
unfortunately, such methods is not only interruptive and poorly timed but they
can be quite expensive.
Outbound marketing is intrusive. It demands that prospects
pay attention. It uses as variety of methods to get the word out about products
or services. Here are some of most popular outlets for outbound marketing.
1. Print and Direct
Mail Marketing:
Practically
since the advent of the printing press, there has been advertisers’ schilling
their wares. The first magazine was printed in America in the mid -18th
century, and they have been filled with ads ever since. Then there’s direct
mail. Every time you open your mailbox, it’s full of catalogs, flyers, and
other “Junk Mail” that goes directly into the recycling bin. Despite its bad
repo, it continues to be popular source of advertising. As a matter of fact, in
2015, marketer spent $46.8 billion on direct mail.
2. TV & Radio
Ads:
When
radio becomes popular in the 1920s, advertisers began sponsoring shows. As
television came on the scene, the radio shows died out, but the ads stayed put.
Turn on the car radio, and you will likely be inundated with ads between
songs. Marketers became aware of the
popularity of television and created creative and innovative ads to capture the
attention of viewers.
3. Telemarketing:
You
just sat down to dinner, and before you can enjoy your first bite, the phone
rings. You answer, and it’s a telemarketer. Since the early 1980s, businesses
have been spending billions of dollars to place millions of calls per hour.
4. Billboards:
Billboards
first popped up in North America in the late 19th century, but they
didn’t become ubiquitous until the early 20th century. If you have
ever passed a two story picture of a burger and pulled off onto the next exit
to eat lunch, the billboard has done its job.
2. Inbound Marketing
Inbound
marketing is best described as a method of attracting prospect to your
business’s products or services through the creation of related content and
incentives, which inspire people to identify them and request more information
or make a purchase. Inbound marketing is closely aligned with content
marketing, Search Engine Optimization (SEO) and Social Marketing, because each
of these programs focuses on attracting unknown prospects to your business.
Here’s a quick rundown on commonly-used inbound marketing
tactics for Inbound Marketing
1. SEO:
SEO or
Search Engine Optimization, helps your page rank higher in internet searches.
There are several search engines used by people around the globe- Google alone
fields 40,000 searches per second- and it’s important that your website is
ranked high on the list of responses to certain keywords or key phrases.
2. Content Marketing:
More
and more businesses are incorporating blogs into their websites, and you can
thank content marketing for that. Content marketing gives business the
opportunity to inform and educate their consumers without being to
“in-your-face” about it. They offer the information, and consumers can find it
when they are ready for it. With that in mind, it’s important to have content
that’s relevant to all stages of the buyer’s journey on your website. That way,
you can meet your customers where they are.
3. Social Media:
If you
don’t have an account on at least one social media platform, you are missing out
a golden opportunity to connect with your audience. You can interact with
actual customers, developing a relationship over Twitter or Facebook that will
earn you their loyalty over time. Additionally, you can score major points by
directly addressing customers who have problems with your service or product.
4. E-mail Workflow:
No, we
don’t mean spam. We are talking about carefully crafted mails that are spent at
particular trigger points throughout the buyer’s journey towards becoming a
customer. These emails offer valuable information and useful content that a
customer can use. The right email at the right time can pull a lead further
down your marketing funnel and closer to being a paying customer.
Difference between Inbound & Outbound Marketing:
Inbound Marketing
|
Outbound Marketing
|
Pulls in interested readers
|
Pushes at everybody, regardless of interest
|
Written for the consumer’s needs
|
Written for the product’s needs
|
Interactive and fluid
|
Inert, one-way
|
Draws in customers
|
Seeks out customers
|
Is part of content consumption
|
Disrupts content consumption
|
Natural habitat: blogs, social media, opt-in emails, search,
influencer marketing
|
Natural habitats: display ads, billboards, telemarketer, scripts, magazines,
TV ads
|
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