For a CMO to succeed the CMO must understand all the major types of marketing concepts available to them.
Modern marketer’s must know the major types of marketing concepts available to them. They must be able to evaluate their strengths and weaknesses. You must develop the right tools to use, in the right combination, to turn individuals into prospects, and to turn prospects into buyers of your firm’s products or services. They must understand what creates user action with their target markets.
This post is part of a 3-part series, this is part 2. I will cover the major types of marketing concepts available to marketing managers, marketing directors, and chief
Overview of marketing concepts and media
The marketing concept is based on developing long-term, quality performance from your marketing departments. Through market research and a solid selling concept, you will be able to maximize profits while increasing customer satisfaction.
1. Direct mail
Direct Mail, also known as direct response. It describes a variety a wide range of marketing strategies and activities, from mailings of small numbers of direct mail packages to select, high-quality prospect list, the mailings of large numbers of pieces to a rented list of subscribers to trade publications in your industry, and mailings to a customer list to upsell or cross-sell your company’s current customers with new product announcements or special offers.
The mailing list used in any direct mail program is its most important element. The critical factor in the success or failure of any mailing lists can be rented from third-party sources, such as publication subscriber list, trade shows attendees, or from other companies, who rent out their own lists.
However, the most effective list for most trade and industrial marketers are self-compiled list. These are highly targeted prospects and customer lists that you can pile on your own initiative, from a trade association member list, inbound, internet research, and other sources, including your own customer list. The most effective self-compiled with are those where the prospect has been recently identified at the company, by name, job title, email, and phone number.
Mailings of hard-hitting direct mail packages to these highly targeted self-compiled mailing list, combined with follow-up telephone contact from your company sales rep, is often the best and most reliable marketing technique in a company’s marketing plan. It is a common fixture in sales support marketing activities in many companies.
Direct mail follow up is also an important feature in print display the advertisement programs. This included when you send out sales information kits are sent by mail to prospects who call or email’s requesting additional information in response to the company’s ads.
It can be highly targeted to prospects in your market. Moreover, direct mailings have other benefits. Direct mailings can be tested in small quantities to determine their sales effectiveness, and sales response for mailings can be tracked and measured from the prospect sales inquiries receive from a mailing.
2. Print display advertising and online advertising
In this discussion, some elements applied to both print display advertising and online advertising. however, that’s not always the case.
Trade publication advertising is another common marketing concept for reaching prospects and most industrial and business-to-business markets. Print advertising is used to generate sales and leads for a company and, secondarily, to build awareness of the company and its product among publication readers.
Of all the marketing concepts, print advertising is the most expensive and is often misused by trade publication advertisers. They tend to waste large amounts of their marketing budgets on ineffective advertising campaigns.
The most productive use of display advertising in your marketing plan are advertising programs designed to generate measurable sales response. Call’s to your company sales or customer service reps, links to your company’s website, or any other requests for additional information on your company’s product or service.
If the price of your product is low enough, your company might be able to generate sales directly from its advertising. In any case, advertising and direct mail can work very well together. The sales inquiries from display ads are sent to be follow-up direct mailings from sales development representatives.
Take a go-slow approach. A newly hired CMO involved in sales turnaround situations, or you’re involved in a startup company that does not yet use print advertising to market its products and services.
Other marketing methods, such as direct mail and trade shows, are often more effective ways to test a company’s sales copy in the message in these situations, but at far less cost.
The company should only test a limited scale advertising campaign after it has proven that it can present and sell its products in its market using other less risky, less expensive, marketing methods.
For example, a successful direct mail test to a trade publication subscriber list is usually an accurate indicator of success for print advertising in that publication, it’s similar sales copy is used in the final ad.
Many companies also overspend on the size and frequency of their advertising programs. Most full-page ads can be replaced by a half page (or even smaller) sizes that are often just as effective as larger add sizes if they are produced with benefits oriented sales copy in a hard-hitting layout.
3. Trade shows
as a way to get your company’s product and sales presentation in front of hundreds and sometimes thousands, of real, live prospects in your market, trade shows are an unbeatable marketing and sales tool.
Trade shows are also an invaluable experience from CMOs because they allow you to see and hear the response to your sales message from the actual Prospect in the market.
These are the people who see your ads, receive your mailings, and you all your marketing projects you produce for your company. Unlike other, most expensive marketing concepts, such as print advertising, trade shows giving you the opportunity to learn what benefits sell companies products, through direct, live interaction with prospects.
This feedback helps you find the appeal that works best to sell your products and satisfy customers. It helps you improve your presentation and effectiveness of the methods and deliverables you use in your marketing program. For marketing managers, there’s no better way to get immediate feedback on sales copy and the benefits you are using to sell your company’s product or service.
Trade shows require extensive advanced planning and a large upfront expense. Booth space rental, booth backdrop and signage development and production costs, and associated travel and lodging costs. Opportunities to rent space at some of the most popular trade shows may require reservations up to a year in advance if booth space is even available. However, next to direct mail, trade shows are a very effective marketing tool and should be included in most company marketing programs.
Your company’s website is often a backstop for the other marketing concepts. Use in your marketing plan and serves as an information and communication resource for prospects who respond to the print or online advertising, direct mail, and the other marketing concepts used in your marketing program.
For some companies, a more sophisticated website creates an active response from the user and begins and engagement process with users that are interested in what you have to offer.
Potential customer use internet search tools like Google and Bing to search for information on companies and their products. The quality, extent, and effectiveness of your company’s web presence often determine whether these potential customers will find your company on an internet search. Or will find your website useful or persuasive enough for them to request additional information about your company’s products.
Business-to-business websites take all forms. They range from a basic, one or two screen web browser sites, featuring minimal company sales and contact information, too elaborate online catalog sites that let your customer browsing purchase any of the company’s products.
Every company should have a website, but your company’s product line, its complexity, your sales force structure and distribution channels will dictate the type of website that’s best for your company.
Video and other multimedia base formats such as animation and audio, enable you to provide site visitors with interactive sales videos and other highly effective ways to market and sell your company and its products. However, be careful not to load your website up too much to cause speed degradation. Most website’s should load in 3 seconds or less.
Websites also serve as useful communications channels to customers and prospects. It’s done through the use of free electronic email newsletters, mail to customers, prospects, and other users who signed up for them on your company’s website.
5. Public relations
Public relations, promote your company and its products through free editorial coverage in trade and general business and consumer media outlets, can be a useful supplement to your marketing plan. Cover to your company’s new product announcements and other news from your company can generate product inquiries from your company’s products. News about your company can also attract the notice of other companies both inside and outside your industry, for potential joint ventures in new business development opportunities
However, using public relations as a marketing concept has two major disadvantages. With the exception of print advertising, companies tend to waste more of their marketing budget on aimless PR programs. These programs appear to be more focused on getting the name of the company senior executives into the news instead of generating sales for the company.
The other disadvantage of PR is a lack of control over the final outcome. You can distribute press releases, and work with trade publication editors and writers to help them on their articles. However, you can never be sure whether your company will receive positive, negative, or marginal coverage in the final article printed and their publication.
Moreover, even positive news coverage of your company’s product in a trade publication article is no guarantee that the article will generate enough sales inquiries to make the effort worthwhile.
Because of this unpredictability, public relation should be viewed as a secondary activity to your marketing program. It is used only to support the other, more controllable, and more effective, marketing concepts available to your company, such as advertising, SEO, content marketing, trade shows, direct mail, and your company’s website.
6. Sales support
Most companies selling products in trade, industrial, in business-to-business markets. They do this through a network of sales reps, either directly employed by the company, or working for third-party distributors, dealers, or rep firms on the company’s behalf. When a sales is made in these companies, it is been made by a salesperson—buy a field sales call, or over the phone.
The purpose of marketing in most trade and industrial companies is to provide important sales support for the companies in house (we’re outside) sales team. The goal of the marketing programs to use marketing “tools of the trade”–print advertising, direct mail, content marketing, SEO, website, etc.– generative many qualified sales lead as possible. You want to drive these interested prospects to the appropriate sales rep. This is a standard marketing procedure in most companies selling their products in business-to-business markets.
All the marketing concepts and media described in this post can be used in the service of the sales support function. For example, an online ad, or landing page that has been completed by an interested party. These online ads generate phone calls to the company’s inbound customer service or sales development representative. They will answer high-level questions and send out a company sales information kit to the interested prospect. They route the inquiry to a phone or outside sales rep for an in-person sales call. At this point, other marketing deliverables, such as company sales videos, sales brochures or spec sheets, are presented to the prospect.
Your efforts in marketing to serve sales support also serve high-level sales presentations in discussions for joint ventures, major business alliances, and other major new business development opportunities for your company.
You will be asked to develop and present mock-ups all proposed ad campaigns, product packaging, and other marketing plans and deliverables and sell your company’s proposed business or marketing
7. Content marketing
Content marketing strategy is a great long-term investment has the power to bring in new customers, drive revenue, educate leads and customers, and eventually build a powerful brand. And that’s why content marketing has been moving at a speed of light in recent years.
You need to maximize your SEO efforts if you want to succeed online. You ned to do this with content. It takes more than just publishing a new website.
Let’s face it. If you don’t, your business will be left behind. SEO is a top priority for marketers.
Over 70% of clicks go to organic searches that rank on the first page of Google.
Ranking on the first page of Google can be the deciding factor in making your business thrive online. You probably already know that, right?
It’s not difficult to locate evidence to prove the effectiveness of content marketing for your business.
If you’ve been working in digital marketing for a while, you know that search engine optimization (SEO) is a critical part of your digital marketing plan. For the B2B marketers, every piece of content that they write must be written for their target audience as well as search engine search bots.
is a critical part of your digital marketing plan. For the B2B marketers, every piece of content that they write must be written for their target audience as well as search engine search bots.
It’s important for the CMO to understand not only marketing concepts which ones to use and when. The marketing concepts are high level and will need to be developed into specific marketing programs. These marketing programs take into consideration your marketing resources, the target market, and your marketing objectives and goals.
Give us your best tip for your marketing concepts.