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Many small to medium sized business owners are overwhelmed with trying to run the day to day operations of their business.  The last thing most of them want to think about is dealing with the marketing and advertising of their product. And many of them don't even understand the difference of the two and where to start.

What's the difference you may ask?

I explain it to my clients this way.  Marketing is creating the messaging of how to sell your product or service.  Advertising is actually getting your message out there in the market place.

Many of you have probably heard about the 4 P's of Marketing- product, placement, price and promotion.  Basically, as I said above, it's creating the Messaging itself and the components around it. Advertising is choosing and utilizing the mediums to get the message out to your customers and potential customers.

Do you really know who your target audience actually is or are you guessing based on your "gut." Are you just casting a wide net with your messaging in hopes that people will come buy your product or service?

So the main question of today's article is: Do you need both Marketing & Advertising?

Unless you like flushing money down the toilet, then yes.


Research is a huge element of Marketing. Spend the time digging in to understand who your customer is and how they make decisions. This information will help you determine if the messaging you are creating is accurate. Spend the time and money to do the research necessary to talk with them directly.  This doesn't have to be done through expensive focus groups any longer by the way.

This past year, I walked one of my clients (that runs a $9Million dollar business) through this process. He offers a service to a wide array of customers, across multiple demographics.

I encouraged him to spend a small amount of money to actually understand the current demographics of who was actually buying his service.  The results were astounding.  He had been catering to a large group of baby boomers and their parents. 
Not bad for a multi-million dollar business now, but what about in 5-10 years when his clients were dying off?

What if he had continued to run ads in the newspaper (the Advertising element) without going through the Marketing process first?

He would have continued to spend unnecessary money. We uncovered his brand awareness with his current and non-customers in the baby boomer segment was off the charts. They were doing a great job talking to his current target over and over again. Great for "reach" but bad for targeting new customers in a broader audience. 

In my next post, I'll reveal what we changed and how it changed their strategy so stay tuned. Hate to be so long winded in just one post!

Does your business need help with the Marketing, Advertising or PR? We'd love to help!







 


Comments

10/26/2015 10:32pm

Great information, you have a wonderful blog and an excellent article.

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08/23/2017 1:34am

Marketing and Advertising go hand in hand, you can never really separate the two. For Marketing, your goal is to not only sell, but to expose your target market with the brands around them. And what better way to do that than through advertising? Advertising is an extensive process that uses a lot of consumer behaviors, research, and most of all creativity that follows the trend at hand. It’s not only about putting your product or services out there, but also creating a mark in the industry. From logo designing to packaging, advertising and marketing are inseparable.

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12/07/2015 1:19pm

The advertisement should be clear. Viewers shouldn't need to work to get what you're attempting to say. The advertisement needs adjust.

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03/01/2016 11:57pm

Yes i need both marketing and advertising. Both are the important tool of business.

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06/06/2017 1:41am

Now I see the difference between them. I am sure I need them both.

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08/16/2017 12:03am

I think for my needs I need marketing more. It can help me much better!

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08/17/2017 1:41pm

Well, it's hard for me to say for sure but I think I might need them both. Is it a problem for you?

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09/08/2017 11:58pm

Although Internet MLM is a special breed of vehicle to financial independence, many people tend to focus on doing this business solely through the Internet. Can they really do it just through the Internet alone? This article discusses the pros and cons.

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