What are Marketing Activities — Definition — Benefits? | TODAY FOUNDER

Marketing activities are a significant factor that determines the success of your business. In other words, It is never enough to have a great product or service for most organizations and businesses. Without efficient marketing activities, your brand would not be known, and your business would slowly go under the radar.

What is Marketing Activities Definition? Marketing activities refer to the things an individual or organization undertakes to boost the sales of services/products and also to improve its brand. In other words, marketing activities are the set of processes for creating effective communication, exchanging, and delivering offerings that would add value to the customer, partners, or client.

Do you understand the needs of your customers and the latest market trends? in addition, How do you effectively reach out to more people to improve sales and productivity? ….etc. As a business owner, there are lots of answers and questions you need to get, which can only be achieved through marketing activities. Therefore, we provide you with this article as a complete guide on marketing activities for small, medium, and large scale organizations.

Marketing Activities Categories

What are the marketing activities categories? it is a way that group the marketing activities according to their goals or objectives. As a result of these classifications help you to use marketing activities easily and efficiently

The objectives of digital marketing activities can be combined in the following three main categories:

• Get new customers.
• Keep the customer, from leaking out to competitors
• Grow the customer, by studying their needs and providing solutions to them in the form of new products and services

Any marketing activity that can be placed under one of these categories based on its objectives. for more and detail information see Marketing Activities Categories article

Main Marketing Activities List

Marketing activities allow you to achieve better market share, revenue growth, and profitability. Above all, They identify the needs of customers and meet them with customized products and services.

Here is the main marketing activity list you need to undertake

Market activity #1: Market research

Some organizations do not carry out market research, which is among the core marketing activity, and it is easy to dismiss it. But you should know that without proper market research, your marketing strategies would not be effective in most cases. So, you need market research, no matter the size of your business, and you would make it your priority when you understand its importance. So, here are some points about the importance of marketing research:

Spot opportunities: Market research can enable you to identify the people that need your product and services. in addition, You would know where you can reach them and the best marketing channels to use. Knowing about your customers and potential customers, such as their demographics, age group, working status, would go a long way in simplifying your marketing activities.

Lowers the risk of failure: According to statistics, 50% of the business does not survive past the 5 thyear. This is because of a lack of market research. When you carry out market research, you would be able to identify loopholes and bottlenecks. You would know how to get a steady stream of income through new customer acquisition and how to sustain your customers as well.

Product testing: Market research activity can enable you to test new products and services before launching them. This means you would be able to ascertain what your customers think about your products and services before making the final version. This can save you cost and enhance productivity.

Market activity #2: Select the Customer Segment market

Marketing has become customer-centric. Therefore, you must be able to determine and select your customer segment for the products and services you offer. You can easily create customized products and services for your customers when they are properly segmented. Customer segmentation would also enable you to determine the best channels to carry out your marketing, which can save you cost in the long run.

Market activity #3: Select product and services

If you must generate more leads and boost sales, you must offer the right products and services. Therefore, It is crucial to understand what the customer needs to enable you to offer them the right products and services. People easily forget or fail to know that without adding values to customers, your business cannot attract new or retain old customers. So, you must offer the right solutions to add value to your customers.

Business is very competitive today, and there are far more products in the market than buyers. Therefore entrepreneurs and marketing teams must cultivate the habit of offering the right solutions to the customers. Right products and services go a long way to determine the success of your marketing campaign. Before you decide on marketing your products, you should ask yourself the following question.

• What kind of products and services excites you, benefit, and you enjoy?
• Would you appreciate the products and services you want to sell?
• Would you purchase the products and services you plan on selling?
• Can you confidently sell the same products and services to your children, mother, father or other loved once?
• Can you sell this product for an extended period?
• Can you be proud of the product you intend to offer?

When you get all the answers to this, then you confidently know if it is the right product or services.

Market activity #4: Build Customer Experience

You may offer the right products and services and still not meet your target without the right customer experience. Therefore, organizations and businesses that focus on customer experience can greatly reduce Churn. Additionally, you would increase revenue and achieve higher profits with the right customer experience marketing activity.

Customer relationship is about how you handle and communicate with individual customers. While Customer experience can create an emotional attachment to your brand and encompasses the entire customer journey to impact every area of your organization or business. Because happy customers would remain loyal and recommend your brand. Consider the following in other to create an excellent customer experience

• Understand who your customers are
• Develop a customer experience vision for your brand
• Create an emotional connection between your brand and your customers
• Endeavor to capture customer feedback in real-time
• Develop your marketing team
• Be unique ( Your logo, slogan, website, colors and lots more)
• Pay attention to employee feedback
• Give back to your customers through discounts and special offers
• Measure return on investment

Market activity #5: Set Product distribution channels

A product distribution channel is the routes, intermediaries, and chains through which your services or goods would pass through to get to the final consumers and end-users. Also, distribution channels could be or a combination of retailers, warehouses, stores, wholesalers, social media, or e-commerce stores on the internet.

There are direct and indirect distribution channels. A direct channel allows end-users and consumers to buy the products and services directly from the manufacturers, while an indirect distribution channel enables the end-users to purchase the products and services from retailers and wholesalers.

Understanding and setting the correct distribution channel for the products and services you are marketing is necessary for the success of your marketing strategy. Moreover, you should evaluate the end-user, cost, and how quickly the goods would get to the final consumer in other to set your distribution channel.

Market activity #6: Promotional

Promotions are the activities a marketing team carries out to communicate the brand, service, or product to the masses. In other words, the essence of promotion is to make people aware of or familiar with your brand and products in preference of others.

Promotion is an active process in marketing that needs to be closely monitored in other to obtain the best result.

In short, promotion is the voice of your company sent out to the masses, and it has a lot of benefits which includes:

• Increase your brand awareness
• Generate leads, build sales and improves profitability
• Provide the correct information
• Increases traffic
• Create harmony and emotional attachment for your brand

Market activity #7: Pricing

Without a good pricing system, people would not buy your products and services no matter what you offer. So, you need to study your customers, review the pricing system of your competitors and set a price that makes sense for everyone involved. Remember that while setting the price, you must consider your distributors and retailers because they play a vital role in the supply chain process.

Furthermore, Product availability, customer demand, and other external factors play a significant role in charging customers on goods and services. Therefore, price is very important in the marketing process. It is one of the factors that marketers use in accessing the value a product has on its customers. Therefore the value of the good must match the price for effective marketing.

Market activity #8: Customer Service

Effective customer service plays a big role in individual customer experience. So, if you want to ensure excellent customer service, then you must understand what the customer wants. You must answer their query as fast as possible, and you must give them adequate information about your products and services.

Customers these days are looking for friendly and hassle-free services, Therefore, businesses must be customer-centric in other to boost sales.

And lastly, to ensure good customer service marketing activity, you must provide constant feedback, carry out periodic review through surveys and pay attention to employee worries.

Finally

There are many marketing activities specializing in specific jobs. For more information on these activities, please refer to the Marketing Activities Categories article. Also, you can read the Digital Marketing Activities article.

What Are the Marketing Activities Benefits?

Marketing activities benefit an organization or business in a lot of ways. as a result of your efforts in doing marketing activities are what would take your business to the next level or pull it down. Here are the benefits of marketing activities

1- Helps You Understand Your Market

Good marketing activity is important for business because it helps you maintain long and lasting relationships with your clients and end-users. Moreover, Marketing activities can help you draw out the hidden potentials of your products and services. You would be able to know what the clients want and also understands the possibilities, potentials, and risk of selling your products and services.

2- Helps You Understand Your Customers

Marketing activities will allow you to understand your customers better and generate more leads for your products and services. Because understanding your customers is necessary to enable you to offer personalized products and services to them. When you have a strong relationship with your customers, it can lead to a positive recommendation.

3- Promotes Your Business to a Target Audience

Effective marketing activities can enable you to understand who your audience is, what they want, and how they want it. then you will be able to provide them with the right product and services.

A target audience is an individual, demographics, or region that shares the characteristics and offerings of your product and services. Therefore, these groups are usually the end-users that would purchase your product and services. So, marketing activities unveil them to you, help you understand them better, and enable you to tailor your solution to improve efficiency/productivity.

4- Helps Brand Your Business

Branding would create a lasting impression and a good memory on the minds of your customers and potential customers. therefore, marketing activities allow you to create a good brand for your products and services. Branding is a strategy in which an organization creates a design, symbol, slogan, name that can help your brand easily identify with you.

When you have a good brand, your organization would stay afloat and remain a market leader. A good brand would further distinguish your products and services from that of your competitors.

5- Helps you to scale your business

Marketing activities can tremendously fuel the growth of your business. Because, Setting up a business is not easy, but growing and sustaining the growth is more difficult. Therefore, without the right marketing activities to fuel the growth of your business, customer churn would increase, your organization would not stay afloat, and profitability would drastically decline.

Conclusion

Marketing activities refer to the things an individual or organization undertakes to boost the sales of services/products and also to improve its brand.

Marketing activities will allow you to understand your customers better and generate more leads for your products and services.

It is never enough to have a great product or service for most organizations and businesses. So, without efficient marketing activities, your product and brand would not be known.

Organizations sometimes hit the wall after a few years. Because, they fail to acquire new customers, and sales become very slow. All you need to do is to come up with an effective marketing activity list to boost sales and revenue. These activities must be properly planned else it would not be successful.

Originally published at https://todayfounder.com on February 27, 2020.