Definition of marketing
Convincing someone to choose your offer. - value creation
- Understanding audience
- strategic communication and delivery
- long term relationships building
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| Term | Definition |
|---|---|
| Definition of marketing | Convincing someone to choose your offer. - value creation - Understanding audience - strategic communication and delivery - long term relationships building |
| Objective | A clear meauserble goal defining what a business wants to achieve with its marketing efforts within a set timeframe. |
| Marketing funnel | A methapfor describing the customer journey from awareness to loyal customers, helping marketers set clear objectives for each stage. |
| AIDA model | An old model of the marketing funnel that includes awareness, interest, desire, action. |
| The marketing funnel | A more modern funnel model that includes awareness, interest, consideration, intent, evaluation, purchase, commonly used in marketing. |
| See-think-do-care | A framework focusing more on perception. |
| What steps are in the marketing funnel? | 1. Awareness 2. Interest 3. Consideration 4. Evaluation 5. Purchase |
| The funnel stage: awareness | - potential customers discover your brand or product, goal is to attract attention. - marketing campaigns and consumer research - events, advertising, blogs, direct email, social media |
| The funnel stage: interest | - customers start engaging and learning about your product: goal is to spark curiosity. - engagement and introduction to positioning - emails, targeted content, classes, news letters |
| The funnel stage: consideration | - customers compare options and think about buying: goal is to show value - product information and specials - automated email campaigns, free trials |
| The funnel stage: intent | - customers signal they are likely to buy: goal is to encourage action. - product demos and shopping cart - interested users get targeted messages to complete their purchase |
| The funnel stage: evaluation | - customers review and validate their choice: goal is to build confidence - marketing and sales work to prove that their products is the best |
| The funnel stage: purchase | - customers complete their transaction: goal is to finalise the sale |
| What are the 3 levels of marketing? | - objective - kpi - metrics |
| KPI | - key performance indicators - a primary measure off success linked to a marketing objective that shows whether the goal is being reached |
| Metrics | - supporting data points to understand performance - giving context and detail but not all are equally important |
| Awareness objective | Make more people know the brand and reach new audiences |
| Consideration objective | Get people to explore products features and build trust through reviews and testimonials |
| Conversation objective | Increase online purchases and make people act |
| Retention objective | Improve customer satisfaction and increase repeat purchases |
| Advocacy objective | Encourage referrals and make people talk about the brand |