A few weeks ago, I was waiting to pick up my little ones from the local children’s soccer club. I noticed one of the dads eating what looked to be the most delicious, calorie-ridden combination of wheat, oil, sugar and chocolate. It was a thick Dutch waffle that was lavishly covered in chocolate. The very next morning, those chocolate-covered waffles were in my fridge!
I noticed one of the dads eating what looked to be the most delicious, calorie-ridden
To put things in perspective, in a span of fewer than ten minutes. I was unintentionally introduced to a snack I had hitherto never seen since there are some supermarket aisles that I intentionally avoid. I asked other parents about this delicious looking ‘taste bud symphony on a plate’ .And was given several Dutch waffles brand names, and the very next morning, I had a box of Dutch waffles in my fridge. That! my friend, is the power of marketing.
If you want to find out more about increasing the success of our online business with marketing, then read on. Marketing set-offs a series of reactions that often result in the target consumer purchasing a product and the seller making a profitable sell. ‘Waffle Dad’ had no idea that his choice of snack would be a gateway to a new category for me.
What is Marketing?
Marketing is often confused with Branding. Let us look at the definitions, and hopefully, these will shed some light on the matter.
Marketing is a series of value-adding steps that you implement to generate profits (Hippos to Horses Marketing definition). Oddly enough, Marketing ensures that an organization puts the consumer at the centre of its strategy.
Brands are assets. An asset is something of value, a resource. On the other hand, brands are assets that help a company generate profits and differentiate itself from its competitors.
Brands are assets. An asset is something of value, a resource.
Notice that the word ‘value’ also appears in our in-house definition of Marketing. We can safely conclude that Brands are a result of practising Marketing management. Brands are among the many assets that a business acquires or develops by having a marketing concept mindset.
Branding Has Been Around for Centuries to Identify and Distinguish
Branding has been around for centuries to identify and distinguish the goods of one producer from another. According to the American Marketing Association, A brand is a name, term, design, symbol, or other feature that identifies one seller’s goods or service as distinct from others and differentiates them from the competition.
The Obvious Question Is, Why Are Brands Important?
What functions do they perform that makes them so valuable to business owners? We take a couple of perspectives to uncover the value of brands to both your ideal customers and to your Online Business?
Customers are the foundation of your online business. In a previous blog, we discussed how to identify them.
Brands help your customers identify the source or the maker of a product. Your brand, good or bad, allows consumers to connect it to a particular person (Personal Brands) or organization (Branded products). Most importantly, brands take on a special meaning to consumers.
Experience with a product and its ability to deliver quality over the years positively impact your consumers. These tend to be the brands that consumers will buy repeatedly or come back to if they use another product that does not deliver the expected quality.
Experience with a product and its ability to deliver quality over the years positively impact your consumers
To create a brand that consistently meets the needs and desires of your ideal customer. The ability of your customersto recognize your brand eliminates decision fatigue. The decision-making process is shortened, and they will pick your brand. You give your customers the permission to let their guard down and trust your brand. Now that’s worth the effort you will put into building a winning brand.
Branding is an outcome of Marketing. Branding and Marketing are not the same. A Business that practices the Marketing concept is the one that can build brands. This blog will illuminate more on marketing, Branding and their synergistic relationship.
Marketing is a State of Mind That Helps Give Solutions to Your Customers
You know that we live in an increasingly dynamic and competitive environment. We see the recurring theme of profits and value when we refer to marketing. The value is the profits generated for your online business and the products you design for customers (you should really Brand your products).
As a small business owner, you are more likely to succeed and thrive if you understand your customers so well that you know their fears, desires, wants, needs almost to the point that you know them more than they know themselves. You have to be the entrepreneur who offers the best solutions for the problems your customers face.
As a small business owner, you are more likely to succeed and thrive if you understand your customers so well
Application of Marketing in The Day to Day Running of a Small Business?
As fellow entrepreneurs, we know that the reality of what marketing is in theory and what it means in our daily grind is far more complicated. It could be the reason many people find it hard to differentiate between the two—the disparity between the theory and the actual running of small businesses.
We like to keep things simple here, life is too complicated. Marketing is anything that you as an entrepreneur does to add value to the lives of your customers.
You have to be intentional About Focusing On The Customer Needs and Wants
The marketing concept principle encourages entrepreneurs like you to put the customer at the centre of all business activities. Marketing recognizes that any businesses long-term objectives are best served by achieving a high degree of customer focus.
That recognition flows the necessity for an intimate exploration of customer wants and needs. The only judges of how well the organization satisfies its customers are the customers themselves.
You Have to Develop Products That Meet the Needs of The Customer.
Our customers are unique, to them a quality product or service is one that satisfies or is ‘fit for purpose’ rather than one that provides superfluous features or luxuries. I would like to encourage you as an entrepreneurial parent to put out content and products. They do not have to be perfect. I think we limit our potential and momentum by striving for perfection. Stop!
Oddly enough, it is somewhat similar to us; we are drawn to genuine and down-to-earth personalities. That is not to say we are not fascinated by flamboyant ones, but truth be told, we are happy to watch from a distance.
Brands Also Provide Value for You as A Business Owner.
Essentially, they help in the recognition and identification of your online business. So, people can quickly discover your company through its brands.
Operationally, brands help you to organize your inventory and accounting records. Brands that fulfil buyers needs will always have a demand. A business that can garner brand loyalty can predict and secure future business opportunities.
As a business owner, you can now better plan ahead to ensure that you have the correct inventory. A strong Brand in any industry act as entry barrier for competitors and at the same times sets a standard of quality.
The Obvious Question Is, Then, How Are Brands Created?
We have established that brands are essential for the consumer and your business.
Ultimately, a brand is something that resides in the mind of consumers. Your brand is an unending asset that is tangible. But brands also have an intangible component that reflects our desires, perceptions, and to a lesser extent, the peculiarities of your consumers.
Branding a product involves the process of giving it a name and using other brand elements to assist in identification. Branding creates mental pictures that help your consumers organize their knowledge about your products and services.
Branding a product involves the process of giving it a name and using other brand elements to assist in identification.
Brands aid your customers perceive differences among brands in a product category. Suppose I mention Tesla, Mercedes, Toyota and Ferrari. You instantly create mental pictures of the brands and simultaneously sort them into different categories in your head.
These differences can be related to the attributes or benefits of a car itself. They may also be related to more intangible image considerations.
As a strong and winning brand owner, you benefit whenever consumers choose. Small wonder branding is now universal.
We Cannot Afford to Pick and Choose When It Comes to Marketing.
The customer must feel the brand essence and equity from the first moment they interact with your company.
What Does This Mean For an Online Business?
The Visitors to your website and the correspondence they get from you must reflect your company’s brand and ethos. The interaction with all your online and offline content will impact the customer’s overall satisfaction—the speed of your website, the ease of purchase, the quality of the content, etc.
Marketing is essentially communicating to the world at large that your business can consistently deliver a product that meets (dare I say) exceeds the industry standards.
If you want your online business to stand out for the right reason, you must acquire and implement marketing knowledge.
Here at Hippos to Horses marketing, we are passionate about Marketing in all its elements. As a subscriber to ournewsletter, you will be privy to content that is only shared with those who journey with us in the entrepreneurial sphere. If you would like to access this type of content, click here to subscribe.