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Introduction To Marketing | Marketing 101

If you’ve ever wanted to know: What
marketing is, how it works and how it applies to your business, then stick with
me, because in this episode I’m going to be breaking down exactly what marketing
is, how it all works and why it’s such an important, if not the most important,
element to business success. Let’s get to it.
Hey there my name is Adam Earhart, marketing strategist and welcome to The
Marketing Show where we help you grow your business generate more leads, customers,
and sales by making way better marketing, so if you’re interested in learning the
latest and greatest marketing strategies, tools, tips, tricks and tactics, well, you
may want to consider subscribing and hitting that notification bell. Alright, let’s talk marketing, something I love to do. As I fell in love with
marketing years ago, when I first got interested in figuring out why people
buy and act the way they do and later how to influence and persuade
essentially affect human behavior. Because, whether you have a business or
not Marketing happens pretty much every day. Any time you try to convince friends
or family to see a certain movie or eat at this restaurant or not that or
basically try to convince them to do anything,
Marketing is happening. Also, marketing is really important to understand, because
you are constantly being marketed to by everyone from everywhere. From something
as simple as someone trying to sell you a pair of shoes to something a lot
bigger, like buying a new house or moving across the country or even changing
careers. All of this, requires and uses marketing. So, with all that said, let’s
dive into it. But first, let’s cover what marketing is not, so once we’ve got that
clear, we can cover exactly what it is. Now, I know when I first got involved
with marketing my understanding was pretty limited. I didn’t really have a
clear picture of exactly what marketing was so I also kind of fell prey to the
notion that marketing was advertising. Well, in reality marketing isn’t
advertising but advertising is marketing. Let me explain. Basically, marketing is a
major business function that’s made up of a bunch of other parts, one of which
of course is advertising, but there’s also a ton others like: PR, market
research, social media, content marketing, search engine marketing or search engine
optimization, pricing and pricing psychology, copywriting and one of my
personal favorites, direct response or direct response marketing and quite a
few more. So, saying that marketing is just advertising and kind of like saying
that finance is just taxes or HR is just hiring people or legal is just not
getting sued. Sure, these are all important but there
just one piece of the entire puzzle. This is why if you’re just getting started in
marketing can seem pretty overwhelming which is why my suggestion is to find an
area that you find interesting, fascinating, like say social media or
content marketing, start there really get some roots and branch out later. Alright,
so now that we’ve got that covered, what exactly is marketing? Well, as I’ve
just covered, you know that marketing is made up of a bunch of different sub
segments things like: content marketing, email marketing and social media, all the
things we talked about. But what exactly is the nature of marketing, which sounds
like some kind of documentary “The Nature of Marketing” – on this week’s episode of
The Nature of Marketing – Well, one of the first things you learn in any first-year
marketing course is the four P´s of marketing: product, price, place and
promotion. Product being the details around whatever product or service is
being sold. Price being the price, kind of obvious, but there’s obviously a lot more
that goes into it than just that. Place is where the products being sold and
promotion, we’re just kind of the fun stuff. This is essentially how you’re
gonna sell more of the product and what you’re gonna do to get the word out
about your service and while all of that is accurate and true and the four P´s do
make up a part of marketing, well, I prefer a simpler easier to understand
definition. Marketing in its most basic sense, is communicating value to your
customers. It’s essentially answering the question of your customers “Why should I
care?” Marketing helps people solve their problems by clearly defining and
delivering solutions and really explaining the benefits of the solution
so they can get better results. Marketing is about connecting with people,
understanding their pains and their problems and their frustrations, making
them feel understood so that you can position your business as the solution
to their problems and essentially just make them feel better and marketing is a
really powerful force. As anyone that’s been in business for any length of time
can tell you, it’s not always the best product or service that wins, in fact it
rarely is, rather it’s the product or service with the best marketing. Like it
or not, that’s just kind of how it works which is why having good marketing is
just so important. So my favorite definition of marketing is that it’s
communicating value to your customers but there’s another side entirely that’s
rarely talked about but still equally powerful and that’s creating value for
your customers. You see, marketing can create value and
your marketing in and of itself can be valuable. An example could
be a blog post that helps someone out, even before any money has changed hands
or an advertisement someone sees that brightens their day and makes them laugh
whether they choose to buy or not or the way that a product or service is
delivered, the packaging let’s say which is so luxurious and over-the-top that it
makes the customer feel special just for having purchased it. You see, economics
assumes that people make buying decisions rationally, logically and with
perfect information but this is rarely, pretty much never the case. We as humans
are emotional, often highly illogical and rarely have the full set of facts when
making any decision, which explains why marketing is so important and so
powerful. After all, if we made all of our purchasing decisions based solely on
logic and utility and the value we would get from these products, well, the entire
luxury goods market wouldn’t even exist but not all marketing is created equal.
You see, when it comes to marketing like when it comes to pretty much anything,
there’s good marketing and there’s bad marketing. Bad marketing is all of the
reasons that marketing gets such a bad reputation. It’s that hype, spammy,
over-the-top sleazy salesy icky kind of marketing that we all know we’ve all
seen and nobody likes. It’s the stuff that looks cheap, makes people feel dirty,
even just looking at it and promotes bad products or bad services that really
helps nobody. It’s the fake countdown timers you sometimes see on websites the
going-out-of-business sales that never end and the pushy promotion of useless
products. That’s bad marketing. Good marketing on the other hand, helps
customers achieve their goals, makes them feel better about themselves and has the
power to truly change the world. So my question to you is: What kind of marketer
do you want to be? That that was a rhetorical question. If you say the bad
guy, I got nothing for you but if you say the good kind and I know you did, then
make sure to check out this video right here which I’ve got linked up on the
page which is going to give you even more practical and effective marketing
strategies to help take your business and your marketing to the next level and
way beyond that. Alright, so thanks so much for watching, make sure to check out
that video now and we’ll catch you next time on The Marketing Show

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