In last weeks blog we discussed ways to organize and assist you in tackling a project. Upon further review, we feel as if we missed a step along the way. Where do ideas for projects come from? Who sits in their cubicle and ponders ways in which to generate sales via marketing strategies? Perhaps it is someone in a corner office? Regardless of where your rear lies in regards to your work place, we are writing this blog to assist you in generating ideas for upcoming marketing ploys.
If you work in a powerhouse company, you may opt for an outside firm/agency to help you come up with ideas to draw your customers further into your profit reaching grasp. If that is the case, we congratulate and applaud you for having the funds available to create more cash money. After all, we know the saying that goes something like, “It takes money to make money.” But what is the difference between a firm and an agency? To answer this question we turn to the largest resource available at your fingertips, the internet. Scheffy.com states, “Firm” implies to a small group of professionals with a limited range of services, usually specializing in one or two areas of marketing. For example, a marketing firm might be well suited for understanding and planning for campaigns, but might lack the resources to implement all of them in-house. Or, a firm might be limited in the services they offer: a PR firm might only offer PR services instead of having PR as part of an integrated plan. If you are able to execute another’s ideas, you might only need a marketing firm. If you only need one marketing specialty, such as PR, a specialty firm might be the right fit. That said, a marketing agency is likely to offer a broader range of services and employ a diversified team of specialists. Regardless of the agency’s size, they generally keep more of the work in-house and fill their team with experts in a variety of fields.”
Whew, that was a lot to grasp! However, knowing the difference between these terms is crucial in knowing who to employ to greater meet your needs. The five largest marketing companies in the world and there net worth are:
- WPP Group, London $19.0 billion.
- Omnicom Group, New York City $15.3 billion.
- Publicis Groupe, Paris $9.6 billion.
- Interpublic Group, New York City $7.5 billion.
- Dentsu, Tokyo $6.0 billion.
That is a lot of money backing a lot of people to create a lot of different ideas. If using money to make money isn’t how you roll, we got your back.
There are a variety of marketing resources available to help you in the process of generating ideas. In order to successfully create them, you need to know what you are selling and why. You also need to know the four P’s of marketing. That is, Product, Price, Promotion, and Place. These are defined as follows via Cleverism.com:
Product– Either a tangible good or an intangible service that is seem to meet a specific customer need or demand. All products follow a logical product life cycle and it is vital for marketers to understand and plan for the various stages and their unique challenges.
Price- The actual amount the end user is expected to pay for a product. How a product is priced will directly affect how it sells. This is linked to what the perceived value of the product is to the customer rather than an objective costing of the product on offer. If a product is priced higher or lower than its perceived value, then it will not sell.
Promotion- The marketing communication strategies and techniques all fall under the promotion heading. These may include advertising, sales promotions, special offers and public relations.
Place- How the product will be provided to the customer. Distribution is a key element of placement. The placement strategy will help assess what channel is the most suited to a product. (https://www.cleverism.com/understanding-marketing-mix-concept-4ps/)
Once you have mastered these terms and associated them properly with your offered products, you are ready to roll. In generating ideas, it is usually easiest to base them off of a strategy that has already been proven to work. You can take the following thrivehive.com ideas (listed below) and adjust them according to your company or product needs.
1. Content Marketing
The value of content marketing is too good to ignore. Content is king, or queen, for all businesses and the right content can increase your local SEO and get your business found online. Create good content on your website including an About Us page, Products and Services page, and blog posts.
2. Video Marketing
Videos are a popular free marketing tactic for small businesses. While it can cost you a lot to get a professional video shot and uploaded to YouTube, you don’t have to hire a professional. Video marketing is easy to do it yourself on social media sites like Instagram and Facebook.
3. Blog for Your Business
Small businesses can use blogging to drive traffic to their website, increase user engagement and, improve online visibility, and SEO. Blogging is a proven method to promote your small business online, and a wonderful way to tell tales about your business and provide useful information to potential clients.
4. Attend Industry Events
Attending trade shows, local events, and industry conferences is a clever way to take your small business to next level.
5. Use Employees for Word Of Mouth Marketing
For many small businesses, word of mouth is an important marketing strategy to boost sales, and with good reason. Research shows that customers are more likely to buy a product or service if they get to know about it from their friends or family. (https://thrivehive.com/17-free-marketing-ideas-for-small-businesses/)
And there you have it, everything you need to help market your business! Whether you are generating your own ideas, using a firm or agency to create strategies, or altering proven methods to suit your needs, you have the ability to generate sales by marketing effectively. Lastly, if you are still in search of some ideas, look at our past blogs where we delve deeper into the topics of branding and marketing.