The difference between Marketing & Advertising
We throw all these words around, trying to do our best to push sales, meet targets, move stock and boost services.
However, there is one important question that remains to be asked: Do we know the fundamentals of what we need to do in order to actually achieve everything listed above?
What is, in actual fact, the difference between marketing and advertising? Why is it crucial to the very existence, preservation and growth of a company?
More often than not, a company delves into an expensive advertising campaign, thinking it is the solution to drive sales and promote services. They come up with a concept, create a catchy advert and set off, distributing the content across various platforms of advertising. People see the advert, like it, perhaps even garner enough interest to inquire regarding a quote for said advertised goods or services. Successful… right?
A week or two go by and as the campaign peaks, engagement figures drop across various platforms and the general interest of your target audience moves on to the next best thing. Now what? Do you spend another X amount on a new advertising campaign? Did the current campaign ensure enough for a lucrative or even decent Return of Investment (ROI)? The questions we actually need to ask ourselves are: What is next? What long term plans do I have?
Advertising, as essential as it is, is only one aspect when it comes to marketing as a whole. Let’s have a look at the definition of marketing:
“the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”
In essence, to rephrase – Marketing is the systematic and careful planning, implementation and control of various activities intended to bring buyers and sellers together for the mutually advantageous exchange or transfer of products/services.
The definition of advertising?
Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea.
Thus, we realise that there is so much more to promoting a product/service than mere advertising. In order to strive for success, you need to plan ahead and think further than the current trend or idea.
It is pertinent to sit down, discuss and implement step by step processes in order to fundamentally get all your marketing elements working together smoothly in order to create a unified marketing campaign with a common message.
The common goal at the end of the day is to be as successful as possible. Let me remind you as to the 5 key factors of success:
- Strategic Focus (Leadership, Management, Planning)
- People (Personnel, Staff, Learning, Development)
- Operations (Processes, Work)
- Marketing (Customer Relations, Sales, Responsiveness)
- Finances (Assets, Facilities, Equipment)
Any single one of these key factors and the lack of proper understanding or management can be the reason why growth is either slow or non-existent. Marketing forms part of the backbone of success and should under no circumstances be neglected or underestimated.
If this is something that you are interested in or you are unsure as to whether you have the necessary systems in place, we would be more than happy to assist. Please feel free to contact us for a meeting in order to discuss the fundamentals of marketing and kick start a proper marketing campaign going forward. Let’s make it happen!