Marketing has always been an ever-changing industry and now, more than ever, with advanced technology, social networking, and new media opportunities; it can be hard to keep up! This constant struggle to stay ahead can often lead a business down a path they may not otherwise have followed.
There are, however, a few core-marketing principles that haven’t changed and likely never will. Understanding these basic elements will help you and your business stay grounded and make the right marketing decisions. These core principles are:
Know your Business:
Of course, you know your business - you can give your elevator-pitch in your sleep, right? That’s a given. I’m talking about answering questions like:
• What does your business stand for?
• Does your brand reflect your business?
• What’s your brand voice?
• What’s your value proposition?
Having a solid understanding of your business can help you stay focused and make better business decisions.
Know your Customer:
When’s the last time you actually talked to your customers? Do you know how they like to be marketed to? Why they like your business or how they heard about you?
Understanding your customers is critical. Social media insights and Google Analytics provide a good start but focus groups or tools like Survey Monkey are great ways to dig deeper into your customers’ interests and behaviours.
Know your Industry:
Sometimes you can get so focused on your business that you’re out of the loop with other players in the industry? Keeping tabs on your direct/indirect competitors and where you fit within the landscape will go a long way in building your marketing efforts.
Having a solid understanding of these core principles will help you better navigate the myriad of marketing tactics and strategies that will continue to face you in the months and years to come.
This article, by Dashboard's Sarah Williams first appeared in the Autumn 2017 issue of Sixty Six magazine.