What is a Marketing Mix?
All the different tactics that help your business make money is marketing. Many times marketing is intertwined with the sales process very closely, so communication from the end user to you is flawless.
If you are working to enhance your brand, secure more business or secure more clients, then you should be marketing.
Strategic Marketing Works
Strategically planning and successful implementation of your marketing is understanding the big picture. The types of marketing activities you choose, when aligned, can lead to significant sales / revenue increases, new clients, brand awareness or whatever your goals.
To define your marketing mix, you need to know fully understand the past and current marketing initiatives in order to be successful. For example are you:
- Taking clients to community events?
- Giving out ink pens or other promotional items?
- Going to networking events?
- Utilizing earned media, videos, etc?
- Focused on social media as the be-all-end-all for your business?
Understand What Has Worked and What Hasn’t
To understand what has worked and what hasn’t, you need to perform what we call a Marketing Audit. Start by tackling these three steps:
- Compile a list of all marketing activities (past and present)
- Rank them by what has worked
- Evaluate what initiatives you should keep and which ones will never be utilized again
Once the initiatives have been selected, build a plan of action to ensure successful implementation. This is where aligning your sales and marketing team is essential. Here are a few blogs for reference:
- Understanding the Difference Between Sales and Marketing
- Why Integrating a Sales Professional with Marketing is Key
Initiatives In A Marketing Mix
Different types of initiatives work differently for different companies, so you should always pick what’s working best in your marketplace or niche / industry. Some marketing initiatives you could choose from include:
- Digital Marketing
- Social Media
- Website / Blogging / Content Development
- Email Marketing
- Webinars / Podcasts
- Online Directories
- Traditional Marketing
- Earned Media / Public Relations
- Strategic Partnerships
- Brochures / Marketing Materials
After choosing the best initiatives for you, a plan for implementation must be created, including the essential elements of a marketing plan:
- Determining your objectives; what you want to accomplish.
- Setting your overall strategy; how you’re going to achieve your objectives.
- Goal setting; how you’re going to measure the success of what you’re doing.
- Implementation steps; the steps you will take to get to your goal.
Once your plan is in place, you can start achieving your objectives. In the words of Sir Winston Churchill, “He who fails to plan is planning to fail.”
Understanding your marketing mix and determining what works best for you, will help you achieve the revenue / growth goals for your company.